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 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, t hat, 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, f urther 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 has the meaning provided in the definition of “Eurocurrency Rate.”
Examples of HIBOR Rate in a sentence
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.
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.
At acquisition, the principal amount of the note was approximately $44 million and the interest debentures totaled approximately $72 million.
Notwithstanding the foregoing provisions of this subsection 2.4C(iii), if, pursuant to the provisions of subsection 2.6C, any Conversion/Continuation Notice is withdrawn as to any Affected Lender or Market Disruption Lender or if any Affected Lender or Market Disruption Lender makes Base Rate Loans or Alternate HK Dollar Rate Loans in lieu of its Pro Rata Share of any Eurodollar Rate Loans or HIBOR Rate Loans, the Administrative Agent shall give effect thereto in apportioning payments received thereafter.
The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 3:00 p.m. (Eastern time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least five Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to a Eurodollar Rate Loan, or a continuation of a Eurodollar Rate Loan or HIBOR Rate Loan).
More Definitions of HIBOR Rate
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 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, 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) 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.
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 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, 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, 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 per annum (rounded to the nearest 1/100 of 1%) as supplied to the Administrative Agent at its request quoted by the Reference Banks to leading banks in the Hong Kong interbank market, at or about 11:00 a.m. (Hong Kong time) on such Interest Rate Determination Date for the offering of deposits in HK Dollars for a period comparable to the Interest Period for that HIBOR Rate Loan; provided that if any Reference Bank does not notify such a rate to the Administrative Agent for any relevant period, the HIBOR Rate for such period shall be determined on the basis of the rates notified by the other Reference Banks so long as there is at least one Reference Bank providing such a rate.
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.