Fixed PM Rate definition
Fixed PM Rate means, with respect to any Fixed Rate Period, (a) the arithmetic mean rate for such Fixed Rate Period as shown on Reuters LIBO screen at 10:00 a.m. London, England time two (2) Business Days prior to the first day of such Fixed Rate Period, less (b) the arithmetic mean rate for such Fixed Rate Period as shown on the Reuters Gold Forward page (with respect to Gold) or the Reuters SIFO Forward page (with respect to Silver) as at 12:00 a.m. London, England time two (2) Business Days prior to the first day of such Fixed Rate Period.