One Year LIBOR Rate definition

One Year LIBOR Rate means, with respect to any date of determination, the average interbank offered rate for deposits in United States dollars in the London market (LIBOR), for a one year period, as published in the most recent The Wall Street Journal (or the rate for such deposits determined by Lender at such time based on such other published service of general application as shall be selected by Lender for such purpose).
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One Year LIBOR Rate means the simple average of the rates appearing on the display referred to as the "LIBOR Page" on Reuters Monitor Money Rates Service (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by Payee from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market), on the day which is two (2) business days prior to the first day of the applicable Interest Period, as hereinafter defined, at the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the One-Year LIBOR Rate for such Interest Period shall be the average rate (rounded upwards, if necessary to the next 1/16 of 1%) at which
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One Year LIBOR Rate means the average of London Interbank offered rates (in U.S. dollar deposits) for a term of one year determined solely by Lender as of the date that is two (2) Business Days prior to (i) the twenty-fifth (25th) Payment Due Date or (ii) the date of prepayment in the case of determining Spread Maintenance, as applicable. Lender will obtain the close-of-business One Year LIBOR Rate from reference “LIBOR01” from Reuters Service (or such reference as may replace LIBOR01 on that service) on the date that is two (2) Business Days prior to the twenty-fifth (25th) Payment Due Date. If Reuters Service ceases publication or ceases to publish the LIBOR Rate, Lender shall select a comparable publication to determine the One Year LIBOR Rate and provide notice thereof to Borrower. The One Year LIBOR Rate may or may not be the lowest rate based upon the market for U.S. dollar deposits in the London Interbank Eurodollar Market at which Lender prices loans on the date on which the One Year LIBOR Rate is determined by Lender as set forth above.
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Examples of One Year LIBOR Rate in a sentence

  • Interest shall be computed daily based upon a three hundred sixty (360) day year and the One Year LIBOR Rate and the outstanding loan balances as they exist at the end of each day.

  • If the index upon which the One Year LIBOR Rate is determined becomes unavailable during the term of this Agreement, Lender may designate a comparable substitute index after notifying Debtor.

  • Changes in the One Year LIBOR Rate shall become effective without notice to Debtor; however, Lender will advise Debtor of such changes upon Debtor’s request.

  • If at any time during the term hereof, the One Year LIBOR Rate will not adequately and fairly reflect the cost to Lender of making or maintaining the loans hereunder, then Debtor will pay to Lender such additional amount or amounts as will compensate Lender for such additional costs incurred.

  • If at any time during the term hereof, Lender determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the One Year LIBOR Rate, then Lender shall give notice thereof to Debtor by telephone or electronic mail as promptly as practicable thereafter and, until Lender notifies Debtor that the circumstances giving rise to such notice no longer exist, Lender may designate a comparable substitute rate after notifying Debtor.

  • Computation of the Extension Term Interest Rate based on the Interest Rate Index (plus Margin) shall continue until Lender determines that the circumstances giving rise to Lender’s substitution of the Interest Rate Index for the One Year LIBOR Rate no longer exist.

  • The interest rate hereunder on the Notes shall be equal to three and three quarters percent (3.75%) per annum in excess of the One Year LIBOR Rate.

  • Computation of the Applicable Interest Rate based on the Interest Rate Index (plus Margin) shall continue until Lender determines that the circumstances giving rise to Lender’s substitution of the Interest Rate Index for the LIBOR Rate or the One Year LIBOR Rate no longer exist.


More Definitions of One Year LIBOR Rate

One Year LIBOR Rate means the simple average of the rates appearing on the display referred to as the “LIBOR Page” on Reuters Monitor Money Rates Service (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by Payee from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market), on the day which is two (2) business days prior to the first day of the applicable Interest Period, as hereinafter defined, at the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the One-Year LIBOR Rate for such Interest Period shall be the average rate (rounded upwards, if necessary to the next 1/16 of 1%) at which dollar deposits of $5,000,000.00 and for a maturity comparable to such Interest Period are offered by leading banks in immediately available funds in the London interbank eurocurrency market on the day which is two Business Days prior to the first day of the applicable Interest Period (the “Alternate One-Year LIBOR Rate”). The term “Interest Period” shall mean each one (1) year period during the term of the Loan. In the event of a change in the interest rate applicable to the Loan caused by a change in the One-Year LIBOR Rate, the interest rate applicable to the Loan shall be adjusted effective at the opening of business on the first day of the next Interest Period in question and such rate will then remain in effect for that entire Interest Period until reset on the first day of the next Interest Period.
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One Year LIBOR Rate means the average of London Interbank offered rates (in U.S. dollar deposits) for a term of one year determined solely by Lender as of the date that is two (2) Business Days prior to the first day of the applicable Extension Term. Lender will obtain the close-of-business LIBOR Rate from reference “LIBOR01” from Reuters Service (or such reference as may replace LIBOR01 on that service) on the date that is two (2) Business Days prior to the first day of the applicable Extension Term. If Reuters Service ceases publication or ceases to publish the LIBOR Rate, Lender shall select a comparable publication to determine the LIBOR Rate and provide notice thereof to Borrower. The LIBOR Rate may or may not be the lowest rate based upon the market for U.S. dollar deposits in the London Interbank Eurodollar Market at which Lender prices loans on the date on which the LIBOR rate is determined by Lender as set forth above.
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Related to One Year LIBOR Rate

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by ▇▇▇▇▇ Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • Applicable LIBOR Rate means, (a) for Auction Periods of 35 days or less, One-Month LIBOR, (b) for Auction Periods of more than 35 days but less than 91 days, Three-Month LIBOR, (c) for Auction Periods of more than 90 days but less than 181 days, Six-Month LIBOR, and (d) for Auction Periods of more than 180 days, One-Year LIBOR.

  • EURIBOR Rate has the meaning specified in the definition of “Eurocurrency Rate”.