Examples of LIBO Base Rate in a sentence
Each Reference Bank agrees to furnish to the Agent timely information for the purpose of determining each LIBO Base Rate.
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.
In accordance with Section 5.2(d) of the Credit Agreement, the Company and the Agent have agreed to amend the Credit Agreement to incorporate a successor rate to the 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.