Base LIBOR Rate

Base LIBOR Rate. Means, for any Interest Period, the rate per annum, determined by Lender in accordance with its customary procedures, and utilizing such electronic or other quotation sources as it considers appropriate (rounded upwards, if necessary, to the next 1/100%), to be the rate at which Dollar deposits (for delivery on the first day of such Interest Period) in the amount of $1,000,000 are offered to major banks in the London interbank market on or about 11:00 a.m. (New York time) two (2) Business Days... prior to the commencement of such Interest Period, for a term of three (3) months, which determination shall be conclusive in the absence of manifest error. View More