TIBO Rate definition
TIBO Rate means, with respect to a TIBO Rate Advance for the relevant Interest Period, the applicable Japanese ▇▇▇ ▇▇▇▇▇ interest rate displayed by the Japan Bankers’ Association on Reuters Screen 58143 (or other applicable screen for Japanese Yen) as of 11:00 a.m. (Tokyo time) two (2) Business Days prior to the first day of such Interest Period, and having a maturity equal to such Interest Period; provided, however, that if Reuters Screen 58143 is not available to the Japan Local Currency Agent for any reason, the applicable TIBO Rate for the relevant Interest Period shall instead be the rate determined by the Japan Local Currency Agent as the arithmetic average (rounded upward, if necessary, to an integral multiple of 1/16 of 1%) of the rates per annum (or the rate per annum, in the event there is only one Japan Local Currency Bank) reported to the Japan Local Currency Agent by each Japan Local Currency Bank as the rate at which such Japan Local Currency Bank offers to place deposits in Japanese Yen with leading banks in the Tokyo interbank market at approximately 11:00 a.m. (Tokyo time) two (2) Business Days prior to the first day of such Interest Period, in the approximate amount of such Japan Local Currency Bank’s relevant TIBO Rate Advance and having a maturity equal to such Interest Period; provided, further, that if such rate is below zero, it will be deemed to be zero.
TIBO Rate means, with respect to a TIBO Rate Advance for the relevant Interest Period, the applicable Japanese Y▇▇ ▇▇▇▇▇ interest rate displayed by the Japan Bankers’ Association on Reuters Screen 58146 and 58143 as of 11:00 a.m. (Tokyo time) two (2) Business Days prior to the first day of such Interest Period, and having a maturity equal to such Interest Period; provided, however, that if Reuters Screen 58146 and 58143 is not available to the Japan Local Currency Agent for any reason, the applicable TIBO Rate for the relevant Interest Period shall instead be the rate determined by the Japan Local Currency Agent as the arithmetic average (rounded upward, if necessary, to an integral multiple of 1/16 of 1%) of the rates per annum (or the rate per annum, in the event there is only one Japan Local Currency Bank) reported to the Japan Local Currency Agent by each Japan Local Currency Bank as the rate at which such Japan Local Currency Bank offers to place deposits in Japanese Yen with leading banks in the Tokyo interbank market at approximately 11:00 a.m. (Tokyo time) two (2) Business Days prior to the first day of such Interest Period, in the approximate amount of such Japan Local Currency Bank’s relevant TIBO Rate Advance and having a maturity equal to such Interest Period.
TIBO Rate means, with respect to a TIBO Rate Advance for the relevant Interest Period, the applicable Japanese Y▇▇ ▇▇▇▇▇ interest rate displayed by the Japan Bankers’ Association on Reuters Screen 17097 as of 11:00 a.m. (Tokyo time) two (2) Business Days prior to the first day of such Interest Period, and having a maturity equal to such Interest Period; provided, however, that if Reuters Screen 17097 is not available to the Japan Local Currency Agent for any reason, the applicable TIBO Rate for the relevant Interest Period shall instead be the rate determined by the Japan Local Currency Agent as the arithmetic average (rounded upward, if necessary, to an integral multiple of 1/16 of 1%) of the rates per annum (or the rate per annum, in the event there is only one Japan Local Currency Bank) reported to the Japan Local Currency Agent by each Japan Local Currency Bank as the rate at which such Japan Local Currency Bank offers to place deposits in Japanese Yen with leading banks in the Tokyo interbank market at approximately 11:00 a.m. (Tokyo time) two (2) Business Days prior to the first day of such Interest Period, in the approximate amount of such Japan Local Currency Bank’s relevant TIBO Rate Advance and having a maturity equal to such Interest Period.
Examples of TIBO Rate in a sentence
The applicable Alternate Base Rate, Yen Base Rate, LIBO Rate or TIBO Rate shall be determined by the Applicable Agent, and such determination shall be conclusive absent manifest error.
The applicable Base Rate, TIBO Rate, Adjusted LIBO Rate and LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
LLJS shall pay interest on the unpaid principal amount of each Japanese Loan from the date of such Japanese Loan until the Maturity thereof, at a rate per annum equal at all times during each Interest Period to the TIBO Rate for such Interest Period plus the Applicable Margin therefor, such rate to change from time to time as the Applicable Margin shall change.
Upon receipt of such notice, the Administrative Agent shall immediately give notice thereof to the other Lenders and to the Borrower, whereupon until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make TIBO Rate Loans shall be suspended.
All Japanese Loans outstanding at the commencement of any such suspension affecting the TIBO Rate shall after the end of the then current Interest Period for such Japanese Loans bear interest at the Overnight Rate plus one percent (1.0%), such rate to change from time to time as the Overnight Rate shall change, until such suspension has ended.
More Definitions of TIBO Rate
TIBO Rate means, with respect to any TIBOR Borrowing for any Interest Period, the interest rate per annum for deposits for a maturity most nearly comparable to such Interest Period in Yen appearing on Telerate Screen page 17097 (or on any successor or substitute page of such service providing rate quotations comparable to those currently provided on such page of such service, as determined by the Tokyo Agent from time to time for purposes of providing quotations of interest rates in the Tokyo interbank market) at approximately 11:00 a.m., Tokyo time, two Business Days prior to the commencement of such Interest Period. In the event that such rate is not available at such time for any reason, then the “TIBO Rate” with respect to such TIBOR Borrowing for such Interest Period shall be the rate at which deposits for a maturity most nearly comparable to such Interest Period in Yen are offered by the principal Tokyo office of the Tokyo Agent in immediately available funds in the Tokyo interbank market at approximately 11:00 a.m., Tokyo time, two Business Days prior to the commencement of such Interest Period.
TIBO Rate means, with respect to any Eurocurrency Borrowing denominated in Japanese Yen and for any Interest Period, the TIBO Screen Rate at approximately 11:00 a.m., Japan time, two (2) Business Days prior to the commencement of such Interest Period; provided that, if the TIBO Screen Rate shall not be available at such time for such Interest Period (an “Impacted TIBO Rate Interest Period”) with respect to Japanese Yen then the TIBO Rate shall be the TIBO Interpolated Rate.
TIBO Rate set forth in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
TIBO Rate means, with respect to any TIBOR Borrowing for any Interest Period, the rate per annum appearing on the TIBM Page under the caption “Average of 10 Banks” of Reuters (or on any successor or substitute page of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to Yen deposits in the Tokyo interbank market) at approximately 11:00 a.m., Tokyo time, two Business Days prior to the commencement of such Interest Period, as the rate applicable to deposits in Yen with a maturity comparable to such Interest Period, plus any costs incurred by making or funding such TIBOR Borrowing hereunder, if such costs result directly from any applicable banking law or regulation or from any applicable requirement or directive of any Governmental Authority, including the imposition of any reserve requirement.
TIBO Rate means, with respect to any Term Benchmark Borrowing denominated in Yen and for any Interest Period, the TIBOR Screen Rate two Business Days prior to the commencement of such Interest Period.
TIBO Rate set forth in Section 1.01 is amended to delete each reference therein to “Telerate Page 23070” and to substitute “Reuters Screen 17097” in each case therefor.
TIBO Rate means with respect to any Interest Period pertaining to any Loan the rate per annum equal to the Yen rate as appearing on Bloomberg Professional services under the Japan Banker's Association TIBOR Fixing Reference Bank Rates (JBA2) under the caption "Mizuho Corp" (or on any successor or substitute page of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to deposits in Yen in the Tokyo interbank market) determined at 11:00 a.m., Tokyo time, two Business Days prior to the commencement of such Interest Period, as the rate for deposits in Yen with a maturity comparable to such Interest Period.