LIBO Method definition
LIBO Method. With respect to any Index Determination Date, the method for determining LIBOR calculated on the basis of the offered rates of the Reference Banks for one- month U.S. dollar deposits, as of 11:00 a.m. (London time) on such Index Determination Date. The Issuer may either rely on these quotations as they appear on the Reuters Screen LIBO Page or request the principal London office of each of the Reference Banks to provide a quotation of its rate. If on such Index Determination Date, two or more Reference Banks provide such offered quotations, LIBOR for the related Interest Accrual Period will be the arithmetic mean of such offered quotations (rounded upwards, if necessary, to the nearest whole multiple of 1/16%). If on such Index Determination Date, fewer than two Reference Banks provide such offered quotations, LIBOR for the related Interest Accrual Period will be the higher of (i) LIBOR as determined on the previous Index Determination Date and (ii) the Reserve Interest Rate. LIBOR: The London interbank offered rate for one-month United States dollar deposits determined by the Issuer on each Index Determination Date pursuant to Section 4.02. LIBOR will be determined on the basis of the method specified in the related Prospectus Supplement.
LIBO Method. With respect to any Index Determination Date, the method for determining LIBOR calculated on the basis of the offered rates of the Reference Banks for one- month U.S. dollar deposits, as of 11:00 a.m. (London time) on such Index Determination Date. The Issuer may either rely on these quotations as they appear on the Reuters Screen LIBO Page
Examples of LIBO Method in a sentence
For any period during which LIBOR for any LIBOR Floating Rate Class is to be determined on the basis of the LIBO Method (as defined in the Prospectus), until such Class is paid in full, ▇▇▇▇▇▇ ▇▇▇ shall at all times retain at least four Reference Banks (as defined in the Prospectus).
For any period during which LIBOR for any LIBOR Floating Rate Class is to be determined on the basis of the LIBO Method (as defined in the Prospectus), until such Class is paid in full, ▇▇▇▇▇▇ Mae shall at all times retain at least four Reference Banks (as defined in the Prospectus).