LIBID Rate definition

LIBID Rate as of any Funding Breakage Date shall mean the rate of interest determined in good faith by a Lender in accordance with its usual procedures (which determination shall be conclusive) to be the average of rates per annum for deposits in Dollars bid for by major money center banks in the euro-dollar interbank market for delivery on the Funding Breakage Date, which deposits are of an amount comparable to the Funding Segment that is paid, prepaid or converted to the Base Rate Option and which deposits mature on the last day of the corresponding Euro-Rate Funding Period (or if no such deposits mature on such date, the rate determined by standard securities interpolation methods as applied to deposits maturing as close as possible to, but earlier than, such date, and to deposits maturing as close as possible to, but later than, such date).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

LIBID Rate means for any Interest Period a rate equal to (A) the Eurodollar Rate for such Interest Period minus (B) 0.10% per annum.

LIBID Rate means for any Interest Period a rate equal to (A) the rate of return actually achieved by the Administrative Agent on its investment of Credit-Linked Deposits under, and as described in, Section 2.20(b), minus (B) the Deposit Investment Fee described in Section 2.10(d).

Examples of LIBID Rate in a sentence

• IntesaBci agrees that the Permitted Investments shall earn interest from time to time at the LIBID Rate.

• If quotations are received from at least two major banks, the Applicable LIBID Rate to be used in calculating the Interest Rate for the Forthcoming Interest Period will be the arithmetic means of the quotations received, less 1/8th of 1%.

• Such Interest will be paid to the Lenders by the Administrative Agent at the applicable LIBID Rate (or at an amount determined in accordance with clause (iv) of SECTION 2.12, if applicable) in arrears on the last day of each Interest Period applicable to the Credit-Linked Deposits.

• If for any reason the Applicable LIBID Rate cannot be determined by the Trustee in any of these manners, the Interest Rate in effect during the Interest Period about to end will be continued in effect during the forthcoming Interest Period.

More Definitions of LIBID Rate

LIBID Rate means the Eurodollar Base Rate (without giving effect to the last proviso of the definition thereof) MINUS 0.125% per annum.

LIBID Rate means for any Interest Period a rate equal to (A) the Eurodollar Rate for such Interest Period minus (B) 0.10%

LIBID Rate means, relative to any Remaining Interest Period for an Affected Principal Amount of a LIBO Rate Loan, the rate per annum determined by the Administrative Agent as follows:

LIBID Rate means, for any period between Interest Payment Dates (or, in the case of the first such period, commencing on the date of this Agreement), a rate per annum (calculated on the basis of a 360-day year and actual days elapsed) equal to (x) the rate determined by reference to Telerate Page 3750 as of 11:00 A.M. (London time), on the date two London business days prior to the first day of such period (or, in the case of the first such period, the rate determined by IntesaBci as the London interbank offered rate available to it in respect of such period) minus (y) 12.5 basis points.

LIBID Rate means, for any period between Interest Payment Dates, a rate per annum (calculated on the basis of a 360-day year and actual days elapsed) equal to (x) the rate determined by reference to Telerate Page 3750 as of 11:00 A.M. (London time), on the date two London business days prior to the first day of such period minus (y) 12.5 basis points.