Sterling LIBOR Rate means for each LIBOR Period with respect to a LIBOR Loan denominated in Sterling, the offered rate per annum for deposits of Sterling for such LIBOR Period that appears on pages LIBOR01 or LIBOR02 of the Reuters screen (or 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 the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to deposits in Sterling in the London interbank market) as of 11:00 A.M. (London, England time) on the first day of such LIBOR Period. If the offered rate described in the foregoing sentence does not exist, such rate will be the rate of interest per annum, as determined by the Administrative Agent (rounded upwards, if necessary, to the nearest 1/100 of 1%) at which deposits of Sterling in immediately available funds are offered at 11:00 A.M. (London, England time) on the first day of such LIBOR Period by major financial institutions reasonably satisfactory to the Administrative Agent in the London interbank market for a LIBOR Period of the applicable duration for the applicable principal amount on such date of determination. Notwithstanding the foregoing, the “Sterling LIBOR Rate” shall be deemed to be zero if the rate otherwise calculated pursuant to this definition would result in a rate less than zero.
Sterling LIBOR Rate means for each LIBOR Period with respect to a LIBOR Loan denominated in Sterling, a rate of interest determined by Agent equal to:
Sterling LIBOR Rate means the Interpolated Screen Rate. If the rates referenced in the preceding two sentences are not available, the annual rate of interest referred to in the first sentence shall be equal to the rate determined by the U.K. Agent to be the offered rate on such other page or other service that displays an average British Bankers Association Interest Settlement Rate for deposits in Sterling or any successor rate thereto (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period, determined as of approximately 11:00 a.m. (London time) on the first Eurodollar Business Day of such Interest Period. If the rates referenced in the preceding three sentences are not available, the annual rate of interest referred to in the first sentence shall be equal to the Sterling Reference Rate.
Examples of Sterling LIBOR Rate in a sentence
U.K. Loans bearing interest calculated by reference to the Sterling LIBOR Rate (with respect to U.K. Loans denominated in Sterling) or the U.K. Dollar LIBOR Rate (with respect to U.K. Loans denominated in U.S. Dollars).
Loans bearing interest calculated by reference to the Domestic LIBOR Rate (other than, for the avoidance of doubt, Domestic Base Rate Loans bearing interest by reference to the Domestic LIBOR Rate as provided in the definition of “Domestic Base Rate”), Canadian LIBOR Rate, Sterling LIBOR Rate, EURIBOR Rate, or U.K. Dollar LIBOR Rate, as the case may be.
The Agent shall as soon as practicable notify the Company and the Lenders of each determination of an Adjusted LIBOR Rate or an Adjusted Sterling LIBOR Rate.
The Agent, upon determining the LIBOR ------------------------ Rate, the Adjusted LIBOR Rate, the Sterling LIBOR Rate, and the Adjusted Sterling LIBOR Rate for any Interest Period, shall promptly notify by telephone (confirmed promptly in writing) or in writing the Borrowers and the Lenders of such rates.
Neither the Alternate Base Rate nor the Dollar LIBOR Rate is available at any time as an Applicable Interest Rate for any Loans under the UK Credit Facilities, and the Sterling LIBOR Rate is not available at any time as an applicable Interest Rate for any Loans under the Domestic Credit Facilities.
More Definitions of Sterling LIBOR Rate
Sterling LIBOR Rate. For any Interest Period with respect to a U.K. LIBOR Rate Loan denominated in Sterling, the annual rate of interest equal to LIBOR, or a comparable or successor rate which rate is approved by the U.K. Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the U.K. Agent from time to time, the “GBP Screen Rate”) at approximately 11:00 a.m. (London time) on the first Eurodollar Business Day of such Interest Period; provided, that, until such time as the events or circumstances under §6.17(a)(i), (ii) or (iii) occur with respect to the Sterling LIBOR Rate, (a) if the GBP Screen Rate is not available, “Sterling LIBOR Rate” means the Interpolated Screen Rate, (b) if the GBP Screen Rate and the Interpolated Screen Rate are not available, the annual rate of interest referred to in the first sentence shall be equal to the rate determined by the U.K. Agent to be the offered rate on such other page or other service that displays an average ICE Interest Settlement Rate for deposits in Sterling or any successor rate thereto (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period, determined as of approximately 11:00 a.m. (London time) on the first Eurodollar Business Day of such Interest Period, (c) if the GBP Screen Rate, the Interpolated Screen Rate, and the rate referenced in the preceding clause (b) are not available, the annual rate of interest referred to in the first sentence shall be equal to the Sterling Reference Rate, and (d) if the GBP Screen Rate, the Interpolated Screen Rate, the rate referenced in the preceding clause (b), and the Sterling Reference Rate are not available, the annual rate of interest referred to in the first sentence shall be equal to the U.K. Cost of Funds Rate. If LIBOR (or a comparable or successor rate as herein set forth) shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.
Sterling LIBOR Rate means for each LIBOR Period with respect to a LIBOR Loan denominated in Sterling, the highest of (a) the offered rate per annum for deposits of Sterling for such LIBOR Period that appears on Reuters Screen LIBOR01 Page as of 11:00 A.M. (London, England time) two (2) Business Days prior to the first day in such LIBOR Period, (b) if such LIBOR Period is for a duration less than three months, the offered rate per annum for deposits of Sterling for a three-month LIBOR Period commencing on the first day in such LIBOR Period that appears on Reuters Screen LIBOR01 Page as of 11:00 A.M. (London, England time) two (2) Business Days prior to the first day in such LIBOR Period and (c) 2.00% per annum. If any offered rate described in the foregoing clause (a) or (b) does not exist, such rate will be the rate of interest per annum, as determined by Agent (rounded upwards, if necessary, to the nearest 1/100 of 1%) at which deposits of Sterling in immediately available funds are offered at 11:00 A.M. (London, England time) two (2) Business Days prior to the first day in such LIBOR Period by major financial institutions reasonably satisfactory to Agent in the London interbank market for a LIBOR Period of the applicable duration for the applicable principal amount on such date of determination.
Sterling LIBOR Rate means for each LIBOR Period with respect to a LIBOR Loan denominated in Sterling, the highest of (a) the offered rate per annum for deposits of Sterling for such LIBOR Period that appears on Reuters Screen LIBOR01 Page as of 11:00 A.M. (London, England time) two (2) Business Days prior to the first day in such LIBOR Period, (b) if such LIBOR Period is for a duration less than three months, the offered rate per annum for deposits of Sterling for a three-month LIBOR Period commencing on the first day in such LIBOR Period that appears on Reuters Screen LIBOR01 Page as of 11:00 A.M. (London, England time) two (2) Business Days prior to the first day in such LIBOR Period and (c) 2.00% per annum. If any. If the offered rate described in the foregoing clause (a) or (b)sentence does not exist, such rate will be the rate of interest per annum, as determined by Agent (rounded upwards, if necessary, to the nearest 1/100 of 1%) at which deposits of Sterling in immediately available funds are offered at 11:00 A.M. (London, England time) two (2) Business Days prior to the first day in such LIBOR Period by major financial institutions reasonably satisfactory to Agent in the London interbank market for a LIBOR Period of the applicable duration for the applicable principal amount on such date of determination.
Sterling LIBOR Rate with respect to any Sterling LIBOR Loan for any Interest Period, the rate per annum appearing on Telerate Page 3870 (or any successor page) as the London interbank offered rate for deposits in Pounds Sterling at approximately 11:00 a.m. (Eastern time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period. If for any reason the 44
Sterling LIBOR Rate means for each LIBOR Period with respect to a LIBOR Loan denominated in Sterling, the offered rate per annum for deposits of Sterling for such LIBOR Period that appears on the appropriate page of such service which displays the British Bankers’ Association Interest Settlement Rates for deposits in Sterling (or 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 Agent from time to time for purposes of providing quotations of interest rates applicable to deposits in Sterling in the London interbank market) as of 11:00 A.M. (London, England time) on the first day of such LIBOR Period. If the offered rate described in the foregoing sentence does not exist, such rate will be the rate of interest per annum, as determined by Agent (rounded upwards, if necessary, to the nearest 1/100 of 1%) at which deposits of Sterling in immediately available funds are offered at 11:00 A.M. (London, England time) on the first day of such LIBOR Period by major financial institutions reasonably satisfactory to Agent in the London interbank market for a LIBOR Period of the applicable duration for the applicable principal amount on such date of determination.
Sterling LIBOR Rate. For any Interest Period with respect to a U.K. LIBOR Rate Loan denominated in Sterling, the annual rate of interest equal to LIBOR, or a comparable or successor rate which rate is approved by the U.K. Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the U.K. Agent from time to time, the “GBP Screen Rate”) at approximately 11:00 a.m. (London time) on the first Eurodollar Business Day of such Interest Period. If the rate referenced in the preceding sentence is not available, “Sterling LIBOR Rate” means the Interpolated Screen Rate. If the rates referenced in the preceding two sentences are not available, the annual rate of interest referred to in the first sentence shall be equal to the rate determined by the U.K. Agent to be the offered rate on such other page or other service that displays an average ICE Interest Settlement Rate for deposits in Sterling or any successor rate thereto (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period, determined as of approximately 11:00 a.m. (London time) on the first Eurodollar Business Day of such Interest Period. If the rates referenced in the preceding three sentences are not available, the annual rate of interest referred to in the first sentence shall be equal to the Sterling Reference Rate.
Sterling LIBOR Rate means for any Sterling Interest Period with respect to any Sterling LIBOR Loan, (a) the Sterling LIBOR Base Rate, plus (b) the Applicable Margin, PLUS (c) the Mandatory Liquid Assets Cost Rate for such Sterling Interest Period "Stock Pledge Agreement" means (a) that certain stock pledge, assignment and security agreement dated as of the First Closing Date from the Borrower to the Agent for the benefit of the Lenders ratably and the Agent, (b) that certain stock pledge, assignment and security agreement dated as of May 13, 1997 from the Borrower to the Agent for the benefit of the Lenders ratably and the Agent, (c) that certain stock pledge, assignment and security agreement dated as of the Second Closing Date from the Borrower to the Agent for the benefit of the Lenders ratably and the Agent, and (d) the UK Stock Pledge Agreement, all as the same may from time to time be amended, restated, supplemented or otherwise modified, which Stock Pledge Agreement (other than the UK Stock Pledge Agreement) grants, pledges and assigns to the Agent for the benefit of the Lenders ratably and the Agent, a first priority pledge and assignment of one hundred percent (100%) of the capital stock of each Subsidiary Guarantor and which UK Stock Pledge Agreement grants, pledges and assigns to NationsBank, a pledge and assignment of one hundred percent (100%) of the capital stock of Xxxxx UK (which one hundred percent (100%) pledge reduces to sixty-five percent (65%) at such time as all obligations under the Subordinated Debt have been paid in full) and grants, pledges and assigns to the Agent for the benefit of the Lenders ratably and the Agent, a pledge and assignment of sixty-five percent (65%) of the capital stock of Xxxxx UK. "Stockholder's Equity" means as to the Borrower, Xxxxx UK, Norwich and each of the Subsidiary Guarantors, on a consolidated basis, for any date of determination thereof, the total of capital stock (except treasury stock and net of any note receivable received upon the issuance of any shares of capital stock) and contributed capital, as determined in accordance with GAAP consistently applied, after eliminating all intercompany items. "Subordinated Debt" means that certain Indebtedness for Borrowed Money of the Borrower (and all guarantees thereof by the Borrower and its Subsidiaries) in favor of United States Trust Company of New York, as trustee for the holders of the 12-1/4% Senior Subordinated Notes due 2004 in a stated principal amount of One Hundre...