Three-Month LIBOR Clause Samples

The 'Three-Month LIBOR' clause defines the interest rate benchmark used for calculating variable interest payments over a three-month period. In practice, this clause specifies that the interest rate applied to a loan or financial instrument will be based on the London Interbank Offered Rate (LIBOR) as published for a three-month term, typically determined at the start of each interest period. This ensures both parties have a clear and objective reference for interest calculations, reducing ambiguity and aligning payments with prevailing market rates.
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Three-Month LIBOR. As of any date of determination, a rate of interest ----------------- per annum equal to the three (3) month London Interbank Offered Rate for deposits in United States dollars (rounded to two decimal places) in amounts comparable to the outstanding principal amount of the Loans then outstanding, which interest rate is set forth in the Wall Street Journal (Eastern Edition) on the next Business Day; provided, however, if more than one -------- ------- such offered rate appears in the Wall Street Journal (Eastern Edition), the applicable rate shall be the highest thereof.
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