USD-LIBOR-LIBO definition
USD-LIBOR-LIBO means that the rate for a Reset Date will be determined on the basis of the offered rates for deposits in U.S. Dollars for a period of the Designated Maturity which appear on the Reuters Screen LIBO Page as of 11:00 a.m., London time, on the day that is two London Banking Days preceding that Reset Date. If at least two rates appear on the Reuters Screen LIBO Page, the rate for that Reset Date will be the arithmetic mean of such rates. If fewer than two rates appear, the rate for that Reset Date will be determined as if the parties had specified "USD-LIBOR-Reference Banks" as the applicable Floating Rate Option.
Examples of USD-LIBOR-LIBO in a sentence
On any day, a rate equal to USD-LIBOR-LIBO (as defined in the ISDA Definitions).