Month LIBOR definition

Month LIBOR see "One-Month LIBOR" herein.

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Month LIBOR means, in respect of an Interest Period, the London Interbank Offered Rate for three-month Sterling deposits for such Interest Period (as determined by the Agent Bank in accordance with Condition 4 of the Current Issuer Notes and notified to the parties on the Payment Date on which the relevant Interest Period began); provided however that for the first Interest Period such rate shall be interpolated as set forth in Condition 4.

Month LIBOR has the meaning assigned in Section 5.12.]

Examples of Month LIBOR in a sentence

• All One- Month LIBOR values used to determine interest payments are subject to correction within 30 days from the applicable payment.

• If ICE’s Interest Settlement Rate does not appear on the Designated Page as of 11:00 a.m. (London time) on a LIBOR Adjustment Date, or if the Designated Page is not then available, One- Month LIBOR for that date will be the most recently published Interest Settlement Rate.

• If a One Month LIBOR rate is not reported on the tenth day of a month, the One Month LIBOR rate reported on the first business day preceding the tenth day of the month will be used.

• Paragraph #3 of the Note is hereby amended and restated to read as follows: The "LIBOR Rate" (London Interbank Offered Rate) means the One Month London Interbank Offered Rate ("One Month LIBOR"), rounded upward to the nearest ten thousandth of one percent, reported on the tenth day of the month preceding each Interest Period by the Wall Street Journal in its daily listing of money rates, defined therein as the average of interbank offered rates for dollar deposits in the London market.

• Borrower may prepay principal on any portion of this Note which bears interest determined in relation to the Daily One Month LIBOR Rate at any time, in any amount and without penalty.

• As used herein, "Adjusted One Month LIBOR Rate" shall mean an annual rate equal to two and one-half percent (2.50%) plus the greater of: (a) the One-Month LIBOR Rate, or (b) one and one-half percent (1.50%).

• At any time any portion of this Note bears interest determined in relation to the Daily One Month LIBOR Rate, Borrower may at any time convert all or a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower.

• In the event that the Bank pays any sum (a "LC Draw Amount") drawn by the beneficiary of an outstanding Letter of Credit (a "LC Draw"), interest shall immediately start to accrue on the LC Draw Amount at the Adjusted One Month LIBOR Rate (hereinafter defined), and such interest shall continue to accrue until reimbursement in full to the Bank.

• Such funds shall continue to bear interest at the Adjusted One Month LIBOR Rate until fully repaid by the Company.

• If no specific designation of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Daily One Month LIBOR Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.

More Definitions of Month LIBOR

Month LIBOR means for the purposes of determining the Agreed Rate, the percentage rate per annum equal to the offered quotation which appears on the page of the TeleRate Screen which displays the British Bankers Association Interest Settlement Rate for sterling for the period of three months as of 11.00 am on the day three Business Days prior to the due date for payment of the relevant sum (or, if no quotation is displayed, the arithmetic mean (rounded upwards to four decimal places) of the rates at which each of The Royal Bank of Scotland plc, Barclays Bank plc and HSBC Bank plc were offering to prime banks in the London interbank market deposits in sterling and for a three month period as of 11.00 am on the day three Business Days prior to the due date for payment of the relevant sum); Transaction Documents means this Agreement, the Disclosure Letter, the Confidentiality Agreement, the Transitional Services Agreement and such other agreements to be entered into pursuant to, or expressly contemplated by, this Agreement, each as amended, varied, supplemented or modified from time to time;

Month LIBOR. As to any Interest Period for the Class A-1 and Class B Notes, (a) for any Interest Period other than the first Interest Period, the rate for United States dollar deposits for one month that appears on the Telerate Screen Page 3750 as of 11:00 a.m., London, England time, on the second LIBOR Business Day prior to the first day of that Interest Period or (b) with respect to the first Interest Period, the rate for United States dollar deposits for one month that appears on the Telerate Screen Page 3750 as of 11:00 a.m., London, England time, two LIBOR Business Days prior to the Closing Date. If such rate does not appear on such page, LIBOR will be the Reference Bank Rate determined by the Indenture Trustee. If no such rate appears and the Indenture Trustee is unable to determine a Reference Bank Rate, LIBOR will be LIBOR applicable to the preceding Interest Period.

Month LIBOR. With respect to any Interest Period, the rate determined by the Indenture Trustee on the related Interest Determination Date on the basis of the offered rates of the Reference Banks for one-month United States dollar deposits, as such rates appear on the Reuters Screen LIBOR Page, as of 11:00 a.m. (London time) on such Interest Determination Date. On each Interest Determination Date, One-Month LIBOR for the related Interest Period will be established by the Indenture Trustee as follows:

Month LIBOR means, with respect to any Accrual Period, the London interbank offered rate for deposits in U.S. Dollars having the Index Maturity as such rate appears on Telerate Page 3750, Bloomberg Page BBAM, or another page of these or any other financial reporting service in general use in the financial services industry, as of 11:00 a.m. London time, on the related LIBOR Determination Date. If no rate is so reported on the related LIBOR Determination Date, the rate for that day will be determined on the basis of the rates at which deposits in U.S. Dollars, having the Index Maturity and in a principal amount of not less than U.S. $1,000,000, are offered at approximately 11:00 a.m., London time, on that LIBOR Determination Date, to prime banks in the London interbank market by the Reference Banks. The Administrator will request the principal London office of each Reference Bank to provide a quotation of its rate. If the Reference Banks provide at least two quotations, the rate for that day will be the arithmetic mean of the quotations. If the Reference Banks provide fewer than two quotations, the rate for that day will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Administrator, at approximately 11:00 a.m., New York time, on that LIBOR Determination Date, for loans in U.S. Dollars to leading European banks having the Index Maturity and in a principal amount of not less than U.S. $1,000,000. If the banks selected as described above are not providing quotations, [_____]-Month LIBOR in effect for the applicable Accrual Period will be [_____]-Month LIBOR in effect for the previous Accrual Period.