NIBO Rate definition

NIBO Rate means, with respect to any Borrowing comprised of NIBOR Loans for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next higher 1/16th of 1%) equal to the interest rate at which US Dollar deposits approximately equal in principal amount to the NIBOR Loan of the Lender which is the Administrative Agent for which the NIBO Rate is being determined and for a maturity equal to the applicable Interest Period are offered in immediately available funds to such Lender at the Eurodollar lending offices where its Committed Foreign Currency and exchange operations and Eurodollar funding operations are customarily conducted in the international interbank market at approximately 10:00 a.m., New York City time, two Business Days prior to the commencement of such Interest Period.

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NIBO Rate means, for any NIBO Rate Loan for any Interest Period therefor, a rate per annum (rounded upwards, if necessary, to the nearest 1/100 of one percent (1%)) reasonably determined by the Administrative Agent to be equal to the quotient of (i) the NIBO Base Rate for such NIBO Rate Loan for such Interest Period, divided by (ii) one minus the Reserve Requirement for such NIBO Rate Loan for such Interest Period.

NIBO Rate means, with respect to any Euro-Dollar Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next higher 1/16th of 1%) equal to the interest rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered in immediately available funds to the Administrative Agent at the Eurodollar lending offices where its foreign currency and exchange operations and Eurodollar funding operations are customarily conducted in the international interbank market at approximately 10:00 A.M., New York City time, two Euro- Dollar Business Days prior to the commencement of such Interest Period.

Examples of NIBO Rate in a sentence

Anything in this Agreement to the contrary notwithstanding, the aggregate principal amount of Fixed Rate Loans having concurrent Interest Periods shall be at least equal to $500,000 (or, in the case of NIBO Rate Loans, the Dollar Equivalent of $100,000).
The Revolving Credit Loans may be outstanding at the Borrower's option as Variable Rate Loans or LIBO Rate Loans (each a "type" of Revolving Credit Loans) and the Swingline Loans may be outstanding at the Subsidiary Borrower's option as LIBO Rate Loans or NIBO Rate Loans (each a "type" of Swingline Loans).
The applicable Alternate Base Rate, Adjusted Eurodollar Rate, LIBO Rate or NIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
Each determination of One-Month LIBOR or the NIBO Rate by Series 1997-A Supplement the Agent shall be conclusive and binding upon each of the parties hereto in the absence of manifest error.
Dispatcher agrees to handle paperwork, phone, to and from the Broker or Shipper to tender commodities or shipments to Client for transportation in interstate commerce by Client between points and places within the scope of the clients operating authority.

More Definitions of NIBO Rate

NIBO Rate means, with respect to any Borrowing comprised of NIBOR Loans for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next higher 1/16th of 1%) equal to the interest rate (adjusted for reserve requirements as incurred) at which deposits in Dollars approximately equal in principal amount to the NIBOR Loan of the Lender that is the Servicing Agent for which the NIBO Rate is being determined and for a maturity equal to the applicable Interest Period are offered in immediately available funds to such Lender by major banks in the New York interbank market at approximately 10:00 a.m., New York City time, two days prior to the commencement of such Interest Period.

NIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, the rate (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the interest rate at which dollar deposits for an amount approximately equal to the principal amount of such Borrowing and for a seven-day maturity are offered in immediately available funds to the Administrative Agent at the Eurodollar lending office where its foreign currency and exchange operations are customarily conducted in the international interbank market at approximately 10:00 a.m., New York City time, two Business Days prior to the commencement of such Interest Period.

NIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period of one or two weeks' duration, the rate per annum (rounded upwards, if necessary, to the next higher 1/16th of 1%) equal to the interest rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered in immediately available funds to Chase at the Eurodollar lending offices where its foreign currency and exchange operations and Eurodollar funding operations are customarily conducted in the international interbank market at approximately 10:00 a.m. New York City time, two Business Days prior to the commencement of such Interest Period.