BBA LIBOR Rate definition

BBA LIBOR Rate means, for any day, a rate per annum equal to the BBA LIBOR Daily Floating Rate for such day, plus one and six tenths percent (1.6%).
View Source
BBA LIBOR Rate means with respect to the principal amount of any BBA LIBOR-based Advance outstanding hereunder, the sum of (a) the per annum rate of interest determined on the basis of the rate for deposits in euros for a period equal to the relevant Euro- Interest Period, commencing on the first day of such Euro-Interest Period, appearing on the “Reuters Screen LIBOR01 Page” as defined in the International Swap Dealer Association, Inc. definitions, as modified and amended from time to time, as of 11:00 a.m. (London time) (or soon thereafter as practical), two (2) Business Days prior to the first day of such Euro-Interest Period and, if such day is not a Business Day, then on the immediately preceding Business Day (as adjusted by the Agent after 11:00 a.m. (London time) to reflect any error in the posted rate of interest or in the posted average annual rate of interest) plus (b) 0.125% per annum. In the event that such rate does not appear on the Reuters Screen LIBOR01 Page (or otherwise on such Service), the “BBA LIBOR Rate” shall be determined by reference to such other publicly available service for displaying LIBOR rates as may be agreed upon by the Agent and the Borrower, or, in the absence of such agreement, the “BBA LIBOR Rate” shall, instead, be the per annum rate equal to the average (rounded upward, if necessary, to the nearest one-sixteenth of one percent (1/16%)) of the rate at which the Agent could borrow funds in the European interbank market at or about 11:00 a.m. (London time) (or soon thereafter as practical), two (2) Business Days prior to the first day of such Euro-Interest Period in the European interbank market in an amount comparable to the principal amount of the relevant BBA LIBOR-based Advance which is to bear interest at such BBA LIBOR-based Rate and for a period equal to the relevant Euro-Interest Period.
View Source

Examples of BBA LIBOR Rate in a sentence

  • The Bank will use the BBA LIBOR Rate as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as selected by the Bank from time to time) as determined at approximately 11:00 a.m. London time two (2) London Banking Days prior to the date in question, as adjusted from time to time in the Bank’s sole discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs.

  • The Bank will use the BBA LIBOR Rate as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as selected by the Bank from time to time) as determined at approximately 11:00 a.m. London time two (2) London Banking Days prior to the date in question, as adjusted from time to time in the Bank's sole discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs.

  • Any conversion of a BBA LIBOR Rate (Adjusted Periodically) LIBOR Loan on a day other than the last day of an Interest Period therefor shall be subject to Section 2.6(D).

  • Any principal amount bearing interest at an optional rate under this Agreement is referred to as a "Portion." The following optional interest rate is available: The interest rate is a rate per year equal to the BBA LIBOR Rate (Adjusted Periodically) plus one (1.0%) percentage point.

  • At no time shall there exist more than six (6) separate BBA LIBOR Rate (Adjusted Periodically) LIBOR Loans during the Term.

  • As to any BBA LIBOR Rate (Adjusted Periodically) LIBOR Loan, ▇▇▇▇▇▇ shall comply with Section 2.6(H).

  • The final Interest Period for any BBA LIBOR Rate (Adjusted Periodically) LIBOR Loan must be such that its expiration occurs on or before the Maturity Date.

  • In addition, if, after the date hereof, a regulatory change shall, in the reasonable determination of Lender, make it unlawful for Lender to make or maintain the BBA LIBOR Rate (Adjusted Periodically) LIBOR Loans, then Lender shall promptly notify Borrower and none of the Loans may be advanced as a BBA LIBOR Rate (Adjusted Periodically) LIBOR Loan thereafter.

  • Except as otherwise provided in this Section 2.6, the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the Borrower’s option of either the BBA LIBOR Daily Floating Rate or the BBA LIBOR Rate (Adjusted Periodically).

  • Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are BBA LIBOR Rate (Adjusted Periodically) LIBOR Loans shall be payable on the last Business Day of each Interest Period, commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a BBA LIBOR Rate (Adjusted Periodically) LIBOR Loan and on the Maturity Date.