LP Rate definition
LP Rate means, for each day during an Interest Period or other period of time at which amounts are to bear interest at the LP Rate, either (i) as selected by the Lessee (on behalf of the Owner Trustee), the LIBOR Rate plus the Applicable Margin, the CD Rate plus the Applicable Margin, in each case in effect two Business Days prior to the first day of such Interest Period or other period of time at which amounts are to bear interest at the LP Rate or the Reference Rate, or (ii) if the Agent gives the Owner Trustee and the Lessee notice that the LIBOR Rate or the CD Rate, as the case may be, cannot be determined or is unlawful or that any Lender is unable to obtain matching deposits in the London Interbank market respecting any LIBOR Loan or to match funds with respect to any CD Loan, the Reference Rate for all Interest Periods and other periods of time at which amounts are to bear interest at the LP Rate commencing after the date of such notice and thereafter until the Interest Period or the other period of time at which amounts are to bear interest at the LP Rate commencing immediately following the date on which the LIBOR Rate or the Reference Rate, as the case may be, can be determined, is lawful and as to which each Lender is able to match fund.