6-Month LIBOR definition
6-Month LIBOR. With respect to the Mortgage Loans, the average of interbank offered rates for six-month U.S. dollar deposits in the London market based on quotations of major banks.
6-Month LIBOR means, for any LIBOR Observation Date, the offered rates for deposits in U.S. dollars for a period of six months, commencing on such LIBOR Observation Date, which appears on Moneyline Telerate on page 3750 (or any successor service or page for the purpose of displaying the London interbank offered rates of major banks) as of 11:00 a.m., London time, on that LIBOR Observation Date. If 6-Month LIBOR cannot be determined on a LIBOR Observation Date as described above, then the calculation agent will determine 6-Month LIBOR based on quotations from reference banks in the manner described in the accompanying prospectus supplement for deposits in U.S. dollars for a period of six months, commencing on such LIBOR Observation Date.
6-Month LIBOR is equal to the average of interbank offered rates for six month U.S. dollar deposits, respectively, in the London market based on quotations of major banks, as published either (x) by ▇▇▇▇▇▇ ▇▇▇ either 30 or 45 days before the Adjustment Date or (y) in the “Money Rates” section of The Wall Street Journal as of the first business day of the month before the Adjustment Date. The “1-year CMT” is the weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of one year as made available by the Federal Reserve. The following tables summarize these characteristics of the different loan programs for the adjustable-rate Mortgage Loans. 2/28 LIBOR Adjustable Mortgage Loans 2 years 6-month LIBOR 6 mos. 3/27 LIBOR Adjustable Mortgage Loans 3 years 6-month LIBOR 6 mos.
Examples of 6-Month LIBOR in a sentence
For purposes of this Note, 6-Month LIBOR shall mean the average of interbank offered rates for 6 month U.S. dollar denominated deposits in the London market, as published in the Western Edition of the Wall Street Journal and rounded upwards, if necessary, to the nearest one eighth (.125) of one percentage point.
Interest payments not paid when due will themselves accrue Additional Interest at the Applicable Rate on the amount of unpaid interest, to the extent permitted by law, compounded semi-annually during the 6-Month LIBOR Period and quarterly during the 3-Month LIBOR Period.
The Interest Payment Dates on which such interest shall be payable are February 15 and August 15 during the 6-Month LIBOR Period, and February 15, May 15, August 15 and November 15 during the 3-Month LIBOR Period.
The Premium Calculation Agent shall obtain 6-Month LIBOR or 3-Month LIBOR, as applicable, from the Asset Swap Counterparty; provided, however, that if the Asset Swap Counterparty does not provide 6-Month LIBOR or 3-Month LIBOR, within a reasonable period of time, the Premium Calculation Agent shall make such determination.
The “LIBOR Point to Point Maturity Date” means, for a given 1-, 3- or 6-Month LIBOR Point to Point Fixed Rate Option, the numerically corresponding day of the month that is 1, 3 or 6 months, as applicable, after the Pricing Date, provided however, that if there is no such numerically 087451-0020/4840-5056-8305.6 corresponding day in such first, third or sixth succeeding month, such LIBOR Point to Point Maturity Date shall end on the last day of such first, third or sixth succeeding month.
More Definitions of 6-Month LIBOR
6-Month LIBOR means the rate for six month deposits in pounds ster- ling which appears on the display designated as page 3750 on the Telerate Monitor (or such other page or service as may replace it for the purpose of displaying London inter-bank offered rates of leading banks for pounds sterling deposits) as determined by the Company or such agent as the Company shall appoint from time to time (the “Reference Agent") at or about 11.00 a.m. (London time) on the first Business Day of a Calculation Period.
6-Month LIBOR as determined by the Issuer, means with respect to any Interest Period:
6-Month LIBOR. The London interbank offered rate for six-month U.S. dollar deposits, as quoted either (a) in The Wall Street Journal of the edition, if any, specified in the related Note, or (b) by FNMA, as specified in the related Note, prior to each Change Date specified in the related Mortgage Note.
6-Month LIBOR means, for each Interest Period, the rate (expressed as a percentage per annum) for deposits in US Dollars for a six-month period that appears on Telerate Page 3750 as of 11:00 a.m. (London time) on the LIBOR determination date for such Interest Period. The term “Telerate Page 3750” means the display on Moneyline Telerate, Inc. on page 3750 or any successor service or page for the purpose of displaying the London interbank offered rates of major banks. The “LIBOR determination date” for any Interest Period is the second day that is both a London Business Day and a New York business Day immediately preceding the first day of such Interest Period. A “London Business Day” means a day other than a Saturday or Sunday on which dealings in deposits in US Dollars are transacted, or with respect to any future date are expected to be transacted, in the London interbank market. A “New York Business Day” means a day other than a Saturday or Sunday or a day on which banking institutions in the City of New York are authorized or required by law, regulation or executive order to close. .
6-Month LIBOR and “1-year LIBOR” are equal to the average of interbank offered rates for six month or one year U.S. dollar deposits, respectively, in the London market based on quotations of major banks, as published either (x) by ▇▇▇▇▇▇ ▇▇▇ either 30 or 45 days before the Adjustment Date or (y) in the “Money Rates” section of The Wall Street Journal as of the first business day of the month before the Adjustment Date. The “1-year CMT” is the weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of one year as made available by the Federal Reserve. The following tables summarize these characteristics of the different loan programs for the adjustable-rate Mortgage Loans. 2/28 LIBOR Adjustable Mortgage Loans 2 years 6-month LIBOR 6 mos. 3/27 LIBOR Adjustable Mortgage Loans 3 years 6-month LIBOR 6 mos.
6-Month LIBOR means, with respect to an Interest Period, the rate obtained from the Asset Swap Counterparty pursuant to Section 3.2(a); provided that if the Asset Swap Counterparty does not provide the rate, 6-Month LIBOR means the rate for deposits in U.S. dollars for a 6-month period that appears on Telerate Page 3750 as of 11:00 a.m., London time, on the day that is two London Banking Days preceding the first day of such Distribution Period. If such rate does not appear on Telerate Page 3750, the rate for the first day of such Interest Period will be determined on the basis of the rates at which deposits in U.S. dollars for are offered by four major banks in the London interbank market at approximately 11:00 a.m., London time, on the day that is two London Banking Days preceding the first day of such Interest Period to prime banks in the London interbank market for a period of 6-months commencing on the first day of such Interest Period and in a principal amount of not less than a representative amount. The Premium Calculation Agent will request the principal London office of each such four major banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for the first day of such Interest Period will be the arithmetic mean of such quotations. If fewer than two quotations are provided, as requested, the rate for the first day of such Interest Period will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Premium Calculation Agent, at approximately 11:00 a.m., New York City time, on the first day of such Interest Period for loans in U.S. dollars to leading European banks for a 6-month period commencing on the first day of such Interest Period and in a representative amount.
6-Month LIBOR means, with respect to a Distribution Period, the rate for deposits in U.S. dollars for a 6-month period that appears on Telerate Page 3750 as of 11:00 a.m., London time, on the day that is two London Banking Days preceding the first day of such Distribution Period. If such rate does not appear on Telerate Page 3750, the rate for the first day of such Distribution Period will be determined on the basis of the rates at which deposits in U.S. dollars are offered by four major banks in the London interbank market at approximately 11:00 a.m., London time, on the day that is two London Banking Days preceding the first day of such Distribution Period to prime banks in the London interbank market for a period of 6-months commencing on the first day of such Distribution Period and in a principal amount of not less than a representative amount. The Asset Swap Counterparty or the Put Option Calculation Agent, as the case may be as specified under this Agreement, will request the principal London office of each such four major banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for the first day of such Distribution Period will be the arithmetic mean of such quotations. If fewer than two quotations are provided, as requested, the rate for the first day of such Distribution Period will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Asset Swap Counterparty or the Put Option Calculation Agent, as the case may be as specified under this Agreement, at approximately 11:00 a.m., New York City time, on the first day of such Distribution Period for loans in U.S. dollars to leading European banks for a 6-month period commencing on the first day of such Distribution Period and in a representative amount.