Adjusted Monthly Libor Index definition
Adjusted Monthly Libor Index applicable to any Interest Period means a rate per annum equal to the quotient obtained (rounded upward, if necessary, to the next higher 1/100th of 1%) by dividing (i) the applicable London Interbank Offered Rate for such Interest Period by (ii) 1.00 minus the Euro-Dollar Reserve Percentage.
Adjusted Monthly Libor Index has the meaning set forth in Section 2.06(c).
Adjusted Monthly Libor Index applicable to any Interest Period means a rate per annum equal to (A) in the case of a Euro-Dollar Loan denominated in Dollars: the quotient obtained (rounded upward, if necessary, to the next higher 1/100th of 1%) by dividing (i) the applicable London Interbank Offered Rate for such Interest Period by (ii) 1.00 minus the Euro-Dollar Reserve Percentage; and (B) in the case of a Euro-Dollar Loan denominated in an Other Currency, the sum (rounded upward, if necessary to the next higher 1/100th of 1%) of (i) the applicable London Interbank Offered Rate for such Interest Period, plus (ii) the Additional Costs.
Examples of Adjusted Monthly Libor Index in a sentence
Any overdue principal of and, to the extent permitted by law, overdue interest on any Euro-Dollar Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the higher of (i) the sum of 2% plus the Adjusted Monthly Libor Index Rate applicable to such Euro-Dollar Loan or (ii) the Default Rate.
The Adjusted Monthly Libor Index Rate will change as of the first (1st) day of each calendar month following a change in the Monthly Libor Index Rate as of the immediately preceding Rate Determination Date.