LIBOR Calculation Agent definition
Examples of LIBOR Calculation Agent in a sentence
If the LIBOR Calculation Agent is unable or unwilling to act as such or is removed by the Issuer, or if the LIBOR Calculation Agent fails to determine LIBOR for a Dollar Interest Accrual Period, the Issuer shall promptly appoint a replacement LIBOR Calculation Agent that does not control or is not controlled by or under common control with the Issuer or its Affiliates.
The Issuer hereby initially appoints the Indenture Trustee as the LIBOR Calculation Agent for purposes of determining LIBOR for each Dollar Interest Accrual Period.
The LIBOR Calculation Agent may not resign its duties, and the Issuer may not remove the LIBOR Calculation Agent, without a successor having been duly appointed.
The LIBOR Calculation Agent shall request the principal London office of each of the LIBOR Reference Banks to provide a quotation of its rate.
The LIBOR Calculation Agent may be removed by the Issuer at any time.