Common use of Statutory Reserves Clause in Contracts

Statutory Reserves. For purposes of this ---------- definition, the term "Base LIBOR Rate" shall mean the rate (rounded to the --------------- nearest 1/8 of 1% or, if there is no nearest 1/8 of 1%, the next higher of 1/8 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Portion specified in the applicable LIBOR Request are offered to Lender by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Lender of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request - a notice in writing (or by telephone confirmed by telex, ------------- telecopy or other facsimile transmission on the same day as the telephone request) from an Authorized Officer to Lender requesting that interest on a Loan be based on the LIBOR Rate, specifying: (i) the first day of the LIBOR Period; (ii) the length of the LIBOR Period consistent with the definition of that term; and (iii) the dollar amount of the LIBOR Portion consistent with the definition of such terms.

Statutory Reserves. For purposes of this ---------- definition, the term "Base LIBOR Rate" shall mean the rate (rounded to the --------------- nearest 1/8 of 1% or, if there is no nearest 1/8 of 1%, the next higher of 1/8 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Portion specified in the applicable LIBOR Request are offered to Lender by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, two 2 Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Lender of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request REQUEST - a notice in writing (or by telephone confirmed by telex, ------------- telecopy or other facsimile transmission on the same day as the telephone request) from an Authorized Officer a Borrower to Lender requesting that interest on a Revolving Credit Loan be based on the LIBOR Rate, specifying: (i) the first day of the LIBOR Period; (ii) the length of the LIBOR Period consistent with the definition of that term; and (iii) the dollar amount of the LIBOR Portion consistent with the definition of such termsterm.

Statutory Reserves. For purposes of this ---------- definition, ---------- the term "Base LIBOR Rate" shall mean the rate (rounded to the --------------- nearest 1/8 of 1% orupwards, if there is no nearest 1/8 of 1%necessary, to the next higher of 1/8 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Portion specified in the applicable LIBOR Request are offered to Lender Agent by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Lender Agent of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request - a notice in writing (or by telephone confirmed by telex, ------------- telecopy or other facsimile transmission on the same day as the telephone request) from an Authorized Officer Borrower to Lender Agent requesting that interest on a Revolving Credit Loan be based A-ll on the LIBOR Rate, specifying: (i) the first day of the LIBOR Period; (ii) the length of the LIBOR Period consistent with the definition of that term; and (iii) the dollar amount of the LIBOR Portion Portion, consistent with the definition of such terms.

Statutory Reserves. For purposes of ---------- this ---------- definition, the term "Base LIBOR Rate" shall mean the rate (rounded to the --------------- nearest 1/8 of 1% orupwards, if there is no nearest 1/8 of 1%necessary, to the next higher of 1/8 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Portion specified in the applicable LIBOR Request are offered to Lender Agent by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Lender Agent of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request - a notice in writing (or by telephone confirmed by ------------- telex, ------------- telecopy or other facsimile transmission on the same day as the telephone request) from an Authorized Officer Borrower to Lender Agent requesting that interest on a Revolving Credit Loan be based on the LIBOR Rate, specifying: (i) the first day of the LIBOR Period; (ii) the length of the LIBOR Period consistent with the definition of that term; and (iii) the dollar amount of the LIBOR Portion Portion, consistent with the definition of such terms.

Statutory Reserves. For purposes of this ---------- definition, the term "Base LIBOR Rate" shall mean the rate (rounded to the --------------- nearest 1/8 of 1% or, if there is no nearest 1/8 of 1%, the next higher of 1/8 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Portion specified in the applicable LIBOR Request are offered to Lender by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Lender of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request - a notice in writing (or by telephone confirmed by telex, ------------- telecopy or other facsimile transmission on the same day as the telephone request) from an Authorized Officer to Lender requesting that interest on a Loan be based on the LIBOR Rate, specifying: (i) the first day of the LIBOR Period; (ii) the length of the LIBOR Period consistent with the definition of that term; and (iii) the dollar amount of the LIBOR Portion consistent with the definition of such terms.

Statutory Reserves. For purposes ---------- of this ---------- definition, the term "Base LIBOR Rate" shall mean the rate (rounded to the --------------- nearest 1/8 of 1% orupwards, if there is no nearest 1/8 of 1%necessary, to the next higher of 1/8 1/16 of 1%) at which deposits of U.S. dollars approximately equal in principal amount amounts to the LIBOR Portion specified in the applicable LIBOR Request are offered to Lender by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, two 2 Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Lender of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request - a notice in writing (or by telephone confirmed by ------------- telex, ------------- telecopy or other facsimile transmission on the same day as the telephone request) from an Authorized Officer Borrower to Lender requesting that interest on a Revolving Credit Loan be based on the LIBOR Rate, specifying: (i) the first day of the LIBOR Period; (ii) the length of the LIBOR Period consistent with the definition of that such term; and (iii) the dollar amount of the LIBOR Portion consistent with the definition of such termsterm.