LIBOR Bid Rate definition

LIBOR Bid Rate means the rate per annum equal to the sum of (1) the LIBOR Interest Rate for the Bid Rate Loan and Interest Period in question and (2) the LIBOR Bid Margin.

LIBOR Bid Rate means a rate per annum equal to the sum of (1) the LIBOR Interest Rate for the Bid Rate Loan and Interest Period in question and (2) the LIBOR Bid Margin.

LIBOR Bid Rate means a rate per annum equal to the LIBOR Rate Basis for the term in question plus a margin specified by a Lender. -15-

Examples of LIBOR Bid Rate in a sentence

• Borrower shall pay interest to Administrative Agent for the account of the applicable Bank on the outstanding and unpaid principal amount of the Loans, at a rate per annum as follows: (1) for Base Rate Loans at a rate equal to the Base Rate plus the Applicable Margin; (2) for LIBOR Loans at a rate equal to the applicable LIBOR Interest Rate plus the Applicable Margin; and (3) for Bid Rate Loans at a rate equal to the applicable LIBOR Bid Rate.

• Administrative Agent is hereby authorized by Borrower to endorse on the schedule attached to the Bid Rate Loan Note the amount of each LIBOR Bid Rate Loan and/or Absolute Bid Rate Loan, the name of the Bank making the same, the date of the advance thereof, the interest rate applicable thereto and the expiration of the Interest Period applicable thereto (i.e., the maturity date thereof).

• To the extent that such Bank’s Affected Loan has been so Converted (or the interest rate thereon so converted), all payments and prepayments of principal which would otherwise be applied to such Bank’s Affected Loan shall be applied instead to its Base Rate Loan (or to its LIBOR Bid Rate Loan bearing interest at the converted rate) and such Bank shall have no obligation to Convert its Base Rate Loan into a LIBOR Loan.

• Bid Rate Advances may either bear interest at the Absolute Bid Rate or the LIBOR Bid Rate.

• The Borrower shall pay interest on each LIBOR Bid Rate Advance at the LIBOR Bid Rate offered by the Lender making such Advance (but not in excess of the Highest Lawful Rate) in arrears on its Payment Date, and, in addition, if the Interest Period for a LIBOR Bid Rate Advance exceeds three months, interest on such LIBOR Bid Rate Advance shall be due and payable in arrears on the three-month anniversary of the beginning of such Interest Period.

• Borrower shall pay interest to Administrative Agent for the account of the applicable Bank, on the outstanding and unpaid principal amount of the Loans, at a rate per annum as follows: (1) for Base Rate Loans at a rate equal to the Base Rate plus the Applicable Margin; (2) for LIBOR Loans at a rate equal to the applicable LIBOR Interest Rate plus the Applicable Margin; and (3) for Bid Rate Loans at a rate equal to the applicable LIBOR Bid Rate.

• Each LIBOR Bid Rate Advance shall be for a period of one, two, three or six months.

• Borrower shall pay interest to Administrative Agent for the account of the applicable Bank on the outstanding and unpaid principal amount of the Loans, at a rate per annum as follows: (1) for Base Rate Loans at a rate equal to the Base Rate; (2) for LIBOR Loans at a rate equal to the applicable LIBOR Interest Rate plus the Applicable Margin; and (3) for Bid Rate Loans at a rate equal to the applicable LIBOR Bid Rate.

• Interest on such LIBOR Bid Rate Advance shall be computed on the basis of a 360-day year for the actual number of days elapsed.

• To the extent that such Bank's Affected Loan has been so Converted (or the interest rate thereon so converted), all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Loan shall be applied instead to its Base Rate Loan (or to its LIBOR Bid Rate Loan bearing interest at the converted rate) and such Bank shall have no obligation to Convert its Base Rate Loan into a LIBOR Loan.

More Definitions of LIBOR Bid Rate

LIBOR Bid Rate means a simple per annum interest rate equal to the lesser of (a) the Highest Lawful Rate or (b) the sum of the Adjusted LIBOR Rate plus or minus the Margin.

LIBOR Bid Rate. For any Interest Period with respect to a LIBOR Rate Loan, the rate per annum as determined by the Reference Bank's LIBOR Lending Office to be the rate (rounded upwards to the nearest 1/16 of one percent) at which Dollar deposits are offered to prime banks by such banks in the London Interbank Market as are selected in good faith by the Reference Bank at approximately 11:00 a.m. London time two LIBOR Business Days prior to the beginning of such Interest Period for delivery on the first day of such Interest Period for the number of days comprised therein and in an amount comparable to the amount of the LIBOR Rate Loan to which such Interest Period applies. LIBOR Business Day. Any day on which commercial banks are open for international business (including dealings in Dollar deposits) in the London interbank market.

LIBOR Bid Rate is hereby added to Section 1.1 of the Credit Agreement in proper alphabetical order to read as follows:

LIBOR Bid Rate means a rate per annum equal to the sum of (a) the -------------- quotient of (i) the LIBOR Rate for the term in question divided by (ii) one minus the LIBOR Reserve Percentage, stated as a decimal, plus or minus (b) the Margin.