HIBOR Rate definition
HIBOR Rate means, in relation to any Loan in Hong Kong Dollars for any day, a rate per annum equal to the Hong Kong Interbank Offered Rate or, if such rate is not available, a comparable or successor rate, which rate is reasonably selected by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at or about 11:00am (Hong Kong time) for an amount comparable to the amount of that Loan on such day for overnight deposits and, if any such applicable rate is below zero, the HIBOR Rate for such day will be deemed to be zero; provided, that, after the date hereof and to the extent a comparable or successor rate is reasonably selected by the Administrative Agent (as contemplated above), such selected rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such selected rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.
HIBOR Rate means, in relation to any Loan in Hong Kong Dollars, a rate per annum equal to the Hong Kong Interbank Offered Rate, as published on the applicable Reuters screen page (or if not available, such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) on the Rate Determination Date with a term equivalent to one month and, if any such applicable rate is below zero, the HIBOR Rate for such day will be deemed to be zero.
HIBOR Rate has the meaning provided in the definition of “Eurocurrency Rate.”
Examples of HIBOR Rate in a sentence
All Eurodollar Rate Loans and HIBOR Rate Loans shall bear interest from and including the first day of the applicable Interest Period to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurodollar Rate Loan or HIBOR Rate Loan.
Except as provided in the immediately preceding sentence, nothing in this subsection 2.6C shall affect the obligation of any Lender other than an Affected Lender to make or maintain Loans as, or to convert Loans to, Eurodollar Rate Loans or HIBOR Rate Loans in accordance with the terms of this Agreement.
Except as otherwise provided in subsections 2.6B, 2.6C and 2.6G, a Borrowing Notice for a Eurodollar Rate Loan or a HIBOR Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith.
Subject to the provisions of subsections 2.6 and 2.7, each Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to (i) the Base Rate, (ii) in the case of Revolving Loans (but not including Swing Line Loans) or Term B Loans, the Adjusted Eurodollar Rate, or (iii) in the case of Local Term Loans only, the HIBOR Rate.
If a Market Disruption Event occurs and the Administrative Agent or the Borrower so requires, the Administrative Agent and the Borrower shall enter into negotiations (for a period of not more than 30 days) with a view to agreeing as substitute basis for determining the rate of interest for Eurodollar Rate Loans or HIBOR Rate Loans, as the case may be).
More Definitions of HIBOR Rate
HIBOR Rate means, in relation to any Loan in Hong Kong Dollars for any day, a rate per annum equal to the Hong Kong Interbank Offered Rate or, if such rate is not available, a comparable or successor rate, which rate is reasonably selected by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at or about 11:00 am (Hong Kong time) for an amount comparable to the amount of that Loan on such day for overnight deposits and, if any such applicable rate is below zero, the HIBOR Rate for such day will be deemed to be zero; provided , that , after the date hereof and to the extent a comparable or successor rate is reasonably selected by the Administrative Agent (as contemplated above), such selected rate shall be applied in a manner consistent with market practice; provided , further that to the extent such market practice is not administratively feasible for the Administrative Agent, such selected rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.
HIBOR Rate means, with respect to any Eurocurrency Borrowing in Hong Kong Dollars and for any applicable Interest Period, the rate per annum designated as “FIXING@11.00” displayed under the heading “HONG KONG INTERBANK OFFERED RATES (HK DOLLAR)” on the Reuters Screen Page HIBOR XX for a period equal in length to such Interest Period as displayed on the applicable Reuters screen page or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion, at approximately 11:00 a.m., Hong Kong time, on the Quotation Date for such Interest Period.
HIBOR Rate means, with respect to any Eurocurrency Borrowing in Hong Kong Dollars and for any applicable Interest Period, the percentage rate per annum for deposits in Hong Kong Dollars for a period beginning on the first day of such Interest Period and ending on the last day of such Interest Period, displayed under the heading “HKAB HKD Interest Settlement Rates” on the Reuters Screen HKABHIBOR Page (or, in the event such rate does not appear on such Reuters page, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate as selected by the Administrative Agent from time to time in its reasonable discretion) as of 11:00 a.m., Hong Kong time, on the Quotation Date for such Interest Period.
HIBOR Rate means, with respect to an Advance for the relevant Interest Period, the sum of (i) the quotient of (a) HIBOR applicable to such Interest Period over (b) one minus the Reserve Requirement (expressed as a decimal) applicable to such Interest Period plus (ii) the Applicable Margin.”
HIBOR Rate means, for any Interest Rate Determination Date with respect to an Interest Period for a HIBOR Rate Loan, (a) the applicable rate designated as “FIXING@11:00” (or any other designation which may from time to time replace that designation or, if no such designation appears, the arithmetic average (rounded up, to four decimal places) of the displayed rates for the relevant period) appearing under the heading “HONG KONG INTERBANK OFFERED RATES (HK DOLLAR)” on the Reuters Screen HIBOR1=R Page, or (b) (if no such rate is available for HK Dollars or for the Interest Period for that HIBOR Rate Loan) the arithmetic mean of the rates (rounded up to four decimal places) as supplied to the Administrative Agent at its request quoted to leading banks in the Hong Kong interbank market, at or about 11:00 a.m. (Hong Kong time) on the Quotation Day for the offering of deposits in HK Dollars for a period comparable to the Interest period for that HIBOR Rate Loan.
HIBOR Rate means for any Loans in Hong Kong Dollars, the HIBOR Screen Rate. “HIBOR Screen Rate” means with respect to any Loan denominated in Hong Kong Dollars and for any Interest Period with respect thereto, the percentage rate per annum designated as “FIXING @ 11.00” (or any replacement designation or, if not designation appears, the arithmetic average (rounded upwards to five decimal places) of the displayed rates) for the relevant period displayed under the heading “HONG KONG INTERBANK OFFERED RATES (HK DOLLAR)” on the Reuters Screen HIBOR1=R Page or HIBOR2=R Page (as appropriate) (or any replacement Reuters page which displays that rate) (in each case the “HIBOR Screen Rate”) as of the Specified Time on the Quotation Day for such Interest Period; provided that if the HIBOR Screen Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement; provided further that if an Impacted Interest Period exists with respect to Hong Kong Dollars, then the Eurocurrency Rate shall be the Interpolated Rate; and provided further that if any Interpolated Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement “Hong Kong Dollar” means the lawful currency of Hong Kong. “Increased Facility Activation Date” means any Business Day on which any Incremental Lender shall execute and deliver to the Administrative Agents an Increased Facility Activation Notice pursuant to Section 2.24(a). “Increased Facility Activation Notice” means a notice substantially in the form of Exhibit F-1 or F-2, as applicable.
HIBOR Rate means, in relation to any Loan in Hong Kong Dollars, a rate per annum equal to the Hong Kong Interbank Offered Rate, as published on the applicable Reuters screen page (or if not available, such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) on the Rate Determination Date with a term equivalent to one month and, if any such applicable rate is below zero, the HIBOR Rate for such day will be deemed to be zero. HIBOR Rate Loan means a Loan that bears interest at a rate based on the HIBOR Rate. All HIBOR Rate Loans shall be denominated in Hong Kong Dollars. Holdings has the meaning set forth in the preamble hereto. Hong Kong Dollars means the lawful currency of Hong Kong. Impacted Tranche has the meaning specified in Section 2.12. Increased Cost Notice has the meaning set forth in Section 11.9(a). Indebtedness money (other than a Daylight Overdraft), (ii) obligations representing the deferred purchase price of property other than accounts payable arising in the ordinary course of customary in the trade, (iii) obligations, whether or not assumed, secured by Liens or payable out of the proceeds or production from property (other than futures and options contracts held in a cross-margin account at the Company) now or hereafter owned or acquired by such Person, (iv) obligations which are evidenced by notes, acceptances, or other instruments, (v) Capitalized Lease Obligations, (vi) obligations for which such Person is obligated pursuant to a Guaranty of Indebtedness (other than the guarantee provided by the Clearing House to Clearing Members in the ordinary course of business for their obligations to one another) and (vii) reimbursement obligations with respect to letters of credit; provided, however, that Indebtedness shall not include (a) obligations of the Company to a Cross-Margining Clearing