LIBOR Floating Note Rate means, as of any date, the estimated funding cost (not the actual sale price), including standard underwriting fees, for new farm credit debt securities issued into the primary market based on market observations on such date indicated at approximately 9:30 a.m. Eastern time; provided that such indications represent the Farm Credit Funding Corporation’s best estimate of the cost of new debt issues based on a combination of daily surveys of selected farm credit selling group members (participating bond dealers) and ongoing monitoring of the fixed income markets for actual, recent, primary market issuance by other government-sponsored of similar bonds and notes and pricing within related derivative markets, particularly the interest rate swap market. Historical information on such funding costs is available, for the prior week, on the Farm Credit Funding Corporation’s website (xxxx://xxx.xxxxxxxxxxxxxxxxx.xxx/ffcb_live/fundingCostIndex.html) under the “Output” tab of the most recent spreadsheet.
LIBOR Floating Note Rate means, as of any date, the estimated funding cost (not the actual sale price), including standard underwriting fees, for new 3-year floating rate farm credit debt securities issued into the primary market based on market observations on such date indicated at approximately 9:30 a.m. Eastern time; provided that such indications represent the Farm Credit Funding Corporation's best estimate of the cost of new debt issues based on a combination of daily surveys of selected farm credit selling group members (participating bond dealers) and ongoing monitoring of the fixed income markets for actual, recent, primary market issuance by other government-sponsored of similar bonds and notes and pricing within related derivative markets, particularly the interest rate swap market. Historical information on such funding costs is available, for the prior week, on the Farm Credit Funding Corporation’s website (xxxx://xxx.xxxxxxxxxxxxxxxxx.xxx/ffcb_live/fundingCostIndex.html) under the “Output” tab of the most recent spreadsheet.
LIBOR Floating Note Rate means, as of any date, the estimated funding cost (not the actual sale price), including standard underwriting fees, for new farm credit debt securities with a three-and-a-half year term (interpolated on a straight-line basis between a “3-year Floating Rate Note” indication and a “5-year Floating Rate Note” indication) issued into the primary market based on market observations on such date indicated at approximately 9:30 a.m. Eastern time; provided that such indications represent the Farm Credit Funding Corporation’s best estimate of the cost of new debt issues based on a combination of daily surveys of selected farm credit selling group members (participating bond dealers) and ongoing monitoring of the fixed income markets for actual, recent, primary market issuance by other government-sponsored similar bonds and notes and pricing within related derivative markets, particularly the interest rate swap market. Historical information relating to such funding costs is available, for the prior week, on the Farm Credit Funding Corporation’s website (xxxx://xxx.xxxxxxxxxxxxxxxxx.xxx/ffcb_live/fundingCostIndex.html) under the “Output” tab of the most recent spreadsheet.
More Definitions of LIBOR Floating Note Rate
LIBOR Floating Note Rate means, as of any date, the estimated funding cost (not the actual sale price), including standard underwriting fees, for new farm credit debt securities with a three-and-a-half year term (interpolated on a straight-line basis between a 3-year Floating Rate Note indication and a 5-year Floating Rate Note indication) issued into the primary market based on market observations on such date indicated at approximately 9:30 a.m. Eastern time; provided that such indications represent the Farm Credit Funding Corporation’s best estimate of the cost of new debt issues based on a combination of daily surveys of selected farm credit selling group members (participating bond dealers) and ongoing monitoring of the fixed income markets for actual, recent, primary market issuance by other government-sponsored similar bonds and notes and pricing within related derivative markets, particularly the interest rate swap market. Historical information relating to such funding costs is available, for the prior week, on the Farm Credit Funding Corporation’s website (http://www.farmcreditfunding.com/ffcb_live/fundingCostIndex.html) under the “Output” tab of the most recent spreadsheet.
LIBOR Floating Note Rate means NWFCS’ best estimate of the cost of such debt securities based on market observations of synthetic (swaps) floating rate indications for similar debt securities or such other replacement benchmark as the Administrative Agent and the Borrowers may mutually agree upon.
LIBOR Floating Note Rate means, as of any date of determination, the estimated funding cost (not the actual sale price), including standard underwriting fees, for new three-year or one-year, as applicable, debt Securities indexed to the one-month LIBOR issued by the Farm Credit Funding Corporation into the primary market based on market observations on such date indicated at approximately 9:30 a.m., New York City time.
LIBOR Floating Note Rate means, as of any date of determination, the estimated funding cost (not the actual sale price), including standard underwriting fees, for new three-yearone-year debt securities, indexed to the one-month LIBOR Screen Rate issued by the Farm Credit Funding Corporation into the primary market based on market observations on such date indicated at approximately 9:30 a.m., Eastern time; it being understood that such indications represent the Farm Credit Funding Corporation’s best estimate of the cost of new debt issuances based on a combination of daily surveys of selected farm credit selling group members (participating bond dealers) and ongoing monitoring of the fixed income markets for actual, recent, primary market issuance by other government-sponsored institutions of similar bonds and notes and pricing within related derivative markets, particularly the interest rate swap market. Historical information on such funding costs is available, for the prior week, on the Farm Credit Funding Corporation’s website (xxxx://xxx.xxxxxxxxxxxxxxxxx.xxx/ffcb_live/fundingCostIndex.htmlhttp://xxx.xxxxxxxxxxxxxxxxx.xxx/ffcb_live/fundingCostIndex.html) under the “Output” tab of the most recent spreadsheet. By way of example, assuming the Effective Date Cost of Funds is 15 basis points, (a) if the Current Cost of Funds as of a Reset Reference Point is 35 basis points, then LIBOR for any Interest Period shall be increased by 20 basis points commencing from and as of such Reset Reference Point, and (b) if the Current Cost of Funds as of a Reset Reference Point is –5 basis points (i.e., the LIBOR Floating Note Rate is 5 basis points less than LIBOR for an Interest Period of one month, in each case as of such Reset Reference Point), then LIBOR shall be decreased (but not below zero) by 20 basis points commencing from and as of such Reset Reference Point.
LIBOR Floating Note Rate means, as of any date of determination, the estimated funding cost (not the actual sale price), including standard underwriting fees, for new three-year debt securities indexed to the one-month LIBOR Screen Rate issued by the Farm Credit Funding Corporation into the primary market based on market observations on such date indicated at approximately 9:30 a.m., Eastern time; it being understood that such indications represent the Farm Credit Funding Corporation’s best estimate of the cost of new debt issuances based on a combination of daily surveys of selected farm credit selling group members (participating bond dealers) and ongoing monitoring of the fixed income markets for actual, recent, primary market issuance by other government-sponsored of similar bonds and notes and pricing within related derivative markets, particularly the interest rate swap market. Historical information on such funding costs is available, for the prior week, on the Farm Credit Funding Corporation’s website (xxxxxxxxxxxxxxxxx.xxx/xxxx_xxxx/xxxxxxxXxxxXxxxx.xxxx) under the “Output” tab of the most recent spreadsheet. By way of example, assuming the Effective Date Cost of Funds is 15 basis points, (a) if the Current Cost of Funds as of a Reset Reference Point is 35 basis points, then LIBOR for any Interest Period shall be increased by 20 basis points commencing from and as of such Reset Reference Point, and (b) if the Current Cost of Funds as of a Reset Reference Point is -5 basis points (i.e., the LIBOR Floating Note Rate is 5 basis points less than LIBOR for an Interest Period of one month, in each case as of such Reset Reference Point), then LIBOR shall be decreased (but not below zero) by 20 basis points commencing from and as of such Reset Reference Point.
LIBOR Floating Note Rate means NWFCS’ best estimate of the cost of such debt securities based on market observations of synthetic (swaps) floating rate indications for similar debt securities or such other replacement benchmark as the Administrative Agent and the Borrowers may mutually agree upon. By way of example, assuming the Restatement Date Cost of Funds is 15 basis points, (a) if the Current Cost of Funds as of a Reset Reference Point is 35 basis points, then LIBOR for any interest period shall be increased by 20 basis points commencing from and as of such Reset Reference Point, and (b) if the Current Cost of Funds as of a Reset Reference Point is –5 basis points (i.e., the LIBOR Floating Note Rate is 5 basis points less than LIBOR for an interest period of one month, in each case as of such Reset Reference Point), then LIBOR shall be decreased (but not below zero) by 20 basis points commencing from and as of such Reset Reference Point.
LIBOR Floating Note Rate means, as of any date of determination, the estimated funding cost (not the actual sale price), including standard underwriting fees, for new one-year debt securities, indexed to the one-month LIBOR Screen Rate issued by the Farm Credit Funding Corporation into the primary market based on market observations on such date indicated at approximately 9:30 a.m., Eastern time; it being understood that such indications represent the Farm Credit Funding Corporation’s best estimate of the cost of new debt issuances based on a combination of daily surveys of selected farm credit selling group members (participating bond dealers) and ongoing monitoring of the fixed income markets for actual, recent, primary market issuance by other government-sponsored institutions of similar bonds and notes and pricing within related derivative markets, particularly the interest rate swap market. Historical information on such funding costs is available, for the prior week, on the Farm Credit Funding Corporation’s website (xxxx://xxx.xxxxxxxxxxxxxxxxx.xxx/ffcb_live/fundingCostIndex.html) under the “Output” tab of the most recent spreadsheet.