One Month Adjusted LIBOR definition
One Month Adjusted LIBOR means an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) LIBOR for an interest period of one month multiplied by (b) the Statutory Reserve Rate (if any).
One Month Adjusted LIBOR means, as of any date, LIBOR with an Interest Period of one month, as determined three Business Days prior to such date.
Examples of One Month Adjusted LIBOR in a sentence
During the entire period that the Loan is outstanding, the outstanding principal balance of the Loan shall bear interest at the One Month Adjusted LIBOR Rate during each applicable One Month LIBOR Rate Interest Period.
During the entire term of the Construction Loan, the outstanding principal balance of the Construction Loan shall bear interest at the One Month Adjusted LIBOR Rate during each applicable One Month LIBOR Rate Interest Period.