LIBOR Substitute Rate definition
LIBOR Substitute Rate means a rate of interest equal to (a) the Base Rate minus (b) Two and Three Quarters Percent (2.75%) per annum (275 basis points).
LIBOR Substitute Rate means the rate equal to the 1-month commercial paper nonfinancial rate as published by the Board of Governors of the Federal Reserve of the United States Department of Treasury (in Statistical Release H.15 or any successor publication), or, in the event no such rates are published by either of the above, then as quoted or published by any Federal Reserve Bank or any department or agency of the United States of America.