LIBOR (3 month) definition

LIBOR (3 month) means the London interbank offered rate administered by ICE Benchmark Administration Limited (or any other person which takes over the administration of that rate) for pounds sterling and a period of three months displayed on pages LIBOR01 or LIBOR02 of the Reuters screen (or any replacement of the Reuters page which displays that rate or the appropriate page of such other information service which publishes that rate from time to time in place of Reuters). The relevant rate will be determined as of 11.00
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LIBOR (3 month) means the London interbank offered rate administered by ICE Benchmark Administration Limited (or any other person which takes over the administration of that rate) for pounds sterling and a period of one monththree months displayed on pages LIBOR01 or LIBOR02 of the Reuters screen (or any replacement of the Reuters page which displays that rate or the appropriate page of such other information service which publishes that rate from time to time in place of Reuters). The relevant rate will be determined as of 11.00 a.m. (London time) on the first day of the relevant three month period. If the relevant page or service is not, or ceases to be, available, then IUK may specify another page or service displaying the relevant rate, and if no such page or service is available, then the rate will be the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to IUK at its request by the principal London offices of three leading banks selected by IUK and which are the rates at which each of the relevant banks could borrow pounds sterling in the London interbank market for the three month period were it to do so by asking for and then accepting interbank offers for deposits in reasonable market size;
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Examples of LIBOR (3 month) in a sentence

  • The following two alternatives shall be considered as equal: ALTERNATIVE 1: The rate of interest shall be determined on a monthly basis and be linked to a relevant Interbank Rate: Group 1: NOK : Negative cash balance NIBOR (3 month) + 1% Positive cash balance NIBOR (3 month) - 1% Group 2: Others (for example USD, GBP) Negative cash balance LIBOR (3 month) + 0.5% Positive cash balance LIBOR (3 month) - 0.5%.

  • Such interest shall be calculated at LIBOR (3 month rate) and shall be based upon the period beginning 30 days after the Effective Date and ending at the Closing (calculated separately for each individual Property); provided that no interest shall accrue during any period for which Seller’s actions or omissions have caused a delay in Closing.