AIBOR definition
AIBOR means, with respect to any Interest Reset Date, the rate for deposits in Dutch Guilders for the period of the Index Maturity which appears on the Reuters Screen AIBO Page (as defined below) (Euro AIBO column) as of 11:00 a.m., Amsterdam time, two Amsterdam Banking Days (as defined below) prior to such Interest Reset Date (each, an "AIBOR Interest Determination Date"). If such rate does not appear on the Reuters Screen AIBO Page, the rate for such Interest Reset Date will be the rate determined on the basis of the rates at which deposits in Dutch Guilders are offered by the AIBOR Reference Banks (as defined below) at approximately 11:00 a.m. on the related AIBOR Interest Determination Date, to prime banks in the Amsterdam interbank market for a period of six months commencing on the applicable Interest Reset Date and in an amount that is representative for a single transaction in such market at such time (such amount, a "Representative Amount"). The Calculation Agent will request the principal Amsterdam office of each of the AIBOR Reference Banks to provide a quotation of its rate. If at least two quotations are provided, the rate for such Interest Reset Date will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for such Interest Reset Date will be the arithmetic mean of the rates quoted by major banks in Amsterdam, selected by the Calculation Agent, at approximately 11:00 a.m., Amsterdam time, on such Interest Reset Date for loans in Dutch Guilders to leading European banks for the period of the Index Maturity commencing on such Reset Date and in a representative Amount.
Examples of AIBOR in a sentence
Payment of a Claim Payment Balance or a final Tax Claim Payment Balance shall be made together with interest over such amount calculated from the day of the anniversary to which such Claim Payment Balance relates until, but not including the day of payment at the rate of 3 months AIBOR plus 100 basispoints per annum.
The promissory note shall provide that interest at an annual rate equal to the lowest AIBOR in effect at the date of the making of the note, shall be paid with each payment of principal from the date of purchase of the Interest on the portion of the note remaining unpaid from time to time.