PIBOR definition

PIBOR. Means the Paris Interbank Offered Rate calculated by AFB (Association Francaise des Banques) and Dow ▇▇▇▇▇ Telerate, and based on the arithmetic mean, rounded to 1/16th of 1 % of the offered interest rates quoted by the market of reference banks at 11h30 each working day.

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PIBOR means the average Paris Interbank Offered Rate published by the French Association of Banks and displayed on the Telerate system at 11 a.m. on the Business Day next preceding the Closing Date and each anniversary date thereof with respect to 1-month French Franc deposits;

PIBOR means the arithmetic mean (rounded upwards, if necessary, to four decimal places) of the respective rates of interest per annum as supplied to the Agent at its request, quoted by the Reference Banks to leading banks in the Paris Interbank Market at or about 11.00 a.m. Paris time on the Rate Fixing Day for the offering of GBP deposits for a period comparable to the Term of the relevant Advance, provided that:

Examples of PIBOR in a sentence

• PIBOR is the Paris Inter bank Offer Rate for French Francs as published in "Les Echos".

• Invoices not paid by the due date will incur a quarterly compounded interest charge at a rate of one hundred and twenty five (125%) percent of the PIBOR for sixty (60) days applicable on the first working day following the date by which payment is due, which rate will be applied throughout the period during which the payment is overdue.

• The all-in cost of such drawn medium-term indebtedness ranges from 0.17% to 0.20% over LIBOR or PIBOR.

• All computations of interest or amounts equivalent to interest based on the PIBOR Rate shall be made by RPC on the basis of quarterly compounding and a year of 360 days for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or other amount is payable.

• If PIBOR, as calculated and published by the AFB, ceases to be published for any reason whatsoever the Bank shall forthwith notify the Client by any method and the following provisions shall apply:- - if a reference rate replacing PIBOR is published under the aegis of the AFB, such rate shall be immediately applicable to any new Drawings and renewals thereof; - otherwise, the Bank and the Client shall negotiate in order to agree a new reference rate for 1, 3 or 6 months Drawings.

• The all-in cost of such drawn short-term indebtedness ranges from 0.10% to 0.125% the London Interbank Offer Rate ("LIBOR") or Paris Interbank Offer Rate ("PIBOR").

• Any payment required to be made pursuant to this Section 7.3 shall bear interest from the Closing through the date of payment at an interest rate per annum equal to PIBOR in effect on the Closing, plus 75 basis points.

• Interest shall be calculated at the TIOP(1) (or PIBOR) in use, augmented by 0.10 point, with calculation to be performed in the exact number of days the credit is available, based on a year of 360 days.

• Reference rate shall be understood to mean the PIBOR Franc (TIOP) rate, for a term equivalent to the term of each of the Drawdowns still to lapse, rounded off, if necessary, to the next higher number of months; the rate shall be published by Telerate the business day preceding the day of early repayment of said Drawdown.

• The application of any prepayment pursuant to subsection 2.11 or 2.12 shall be made, first, to ABR Loans to the extent available for application and, second, to LIBOR Loans, FIBOR Loans and PIBOR Loans, as applicable.

More Definitions of PIBOR

PIBOR or "TIOP" means "Paris Interbank Offered Rate" expressed in the form of an annual rate, as published (at this time, on page 20041 of the Telerate screen) under the auspices of the French Banking Association (Association Francaise des Banques) at approximately 11:30 am (Paris time) on the Business Day preceding the day scheduled for a Drawdown, for deposits denominated in French francs on the Paris interbank market at approximately 11:00 am (Paris time) for a time period equal to the Interest Period concerned, and for an amount comparable to that of the Drawdown concerned. In the event that the said rate is not published, PIBOR shall be the annual rate computed by the Agent, which is equal to the arithmetic mean (rounded up to the next one-sixteenth of one percent, where applicable) of the rates quoted at the request of the Agent by the Reference Banks for deposits in French francs on the Paris interbank market at approximately 11:00 am (Paris time) one (1) Business Day before the day scheduled for a Drawdown, for a time period equal to that of the Interest Period concerned, and for an amount comparable to that of the Drawdown. In the event that a Reference Bank has not forwarded its rate to the Agent by approximately 11:30 am (Paris time) on the specified day, PIBOR shall be computed by the Agent on the basis of the rates provided by the other two Reference Banks. If no other Reference Bank quotes a rate, or if only one Reference Bank does so, the rate to be used for the Interest Period concerned shall be computed in accordance with the provisions of Article 10.3 ("Market Disruption"). In the event that PIBOR should disappear and be replaced by a rate of the same or an equivalent type, as well as in the event of a change affecting the organization which publishes the said rate or the procedures governing publication, including but not limited to as a result of the changeover to the single European currency, the rate which results from said change or replacement shall apply by operation of law.

PIBOR means the Paris Interbank Offered Rate for three month deposits in French Francs as published in Les Echos in the section "Taux-Changes-Options".

PIBOR means a rate per annum determined by the Agent and notified to the Borrowers' Agent and the Lenders. This rate will be applied to an outstanding amount in sterling for a particular period. "PIBOR" will be based on the rate at which deposits in sterling are offered by the Reference Banks for that period to prime banks in the Paris inter-bank market. Each Reference Bank will notify the Agent of this rate when requested by the Agent. The rate notified will be the rate as at 11.00 a.m. (Paris time) on the Rate Fixing Date relating to the first day of the period. The Agent will calculate the arithmetic mean of these rates rounded upwards to five decimal places. This will be "PIBOR" for the period. If fewer than three Reference Banks provide the Agent with notifications for a particular period, this method of determining "PIBOR" will not be used for that period and Clause 11.3 will apply.

PIBOR means, in relation to a Loan in Sterling or any other amount denominated in Sterling, the arithmetic mean (rounded upward to four decimal places) of the offered rates per annum (as supplied to the Agent at its request) quoted by the EURIBOR Reference Banks to leading banks in the Paris interbank market at or about 11.00 a.m. on the applicable Rate Fixing Day for the offering of Sterling deposits for a period comparable to the Interest Period of the relevant Loan or, as appropriate, the Reinvestment Period in respect of the relevant amount.