Examples of LIBO Base Rate in a sentence
If the Administrative Agent determines that for any reason adequate and reasonable means do not exist for determining the LIBO Base Rate for any requested Interest Period with respect to a proposed LIBOR Loan, or that the LIBO Base Rate for any requested Interest Period with respect to a proposed LIBOR Loan does not adequately and fairly reflect the cost to the Lenders of funding such Loan, the Administrative Agent will promptly notify the Borrowers and all Lenders.
The interest rate on LIBO Rate Advances is determined by reference to the LIBO Base Rate, which is derived from the London interbank offered rate.
Each Reference Bank agrees to furnish to the Agent timely information for the purpose of determining each LIBO Base Rate.
Accordingly, all references in the Loan Agreement to LIBO Rate Loans, Adjusted LIBO Rate, Applicable LIBO Margin and LIBO Base Rate are hereby deleted.
Such Confirmation shall describe the Securities (including CUSIP number, if any), identify Lender and Borrower and set forth (i) the Funding Date, (ii) the amount of the Advance (iii) the applicable Maturity Date (unless such advance matures on demand), (iv) the LIBO Base Rate applicable to the Advance; (v) the Collateral Amount, (vi) the Applicable Margin and any additional terms or conditions not inconsistent with this Loan Agreement.