Prime LIBOR definition

Prime LIBOR means the rate per annum determined by Bank at which deposits for the relevant LIBOR Period would be offered to Bank in the approximate amount of the relevant LIBOR Option Advance in the inter-bank LIBOR market selected by Bank, upon request of Bank at 10:00 a.m. California time, on the day that is the first day of such LIBOR Period.
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Examples of Prime LIBOR in a sentence

  • The Borrower shall give the Bank written or oral notice (effective upon receipt) as to the Term Loan under this Agreement, on the Commitment Termination Date specifying: (1) the amount of such Loan; (2) the portion of such Term Loan that will be a Prime, LIBOR, or Fixed Rate Loan; and (3) in the case that all or a portion of such Term Loan is a LIBOR or Fixed Rate Loan, the duration of the Interest Period applicable thereto.

  • If variable: Base Rate: Prime LIBOR SBA Peg Rate Interest is paid to, but not including .

  • If variable: Base Rate: Prime LIBOR SBA Peg Rate Unguaranteed portion has a [ ] fixed rate or [ ] variable rate (check one).

  • In all cases where any of the components of the Default Rate is based on Prime, LIBOR or any similar variable base interest rate, any change in the Prime, LIBOR or any similar variable base, as applicable, shall cause a similar change in the Default Rate.