Daily LIBOR Rate

Example Definitions of "Daily LIBOR Rate"
Daily LIBOR Rate. Shall mean, for any day, the rate per annum determined by the Bank by dividing (A) the Published Rate by (B) a number equal to 1.00 minus the percentage prescribed by the Federal Reserve for determining the maximum reserve requirements with respect to any eurocurrency fundings by banks on such day; provided, however, if the Daily LIBOR Rate determined as provided above would be less than 75 basis points, then such rate shall be deemed to be 75 basis points. The rate of interest will be adjusted... automatically as of each Business Day based on changes in the Daily LIBOR Rate without notice to the Borrower. View More Arrow
Found in NORTHERN TECHNOLOGIES INTERNATIONAL CORP contract
Daily LIBOR Rate. Shall mean, for any day, the rate per annum determined by the Bank by dividing (A) the Published Rate by (B) a number equal to 1.00 minus the percentage prescribed by the Federal Reserve for determining the maximum reserve requirements with respect to any eurocurrency fundings by banks on such day; provided, however, if the Daily LIBOR Rate determined as provided above would be less than 75 basis points, 1.00%, then such rate shall be deemed to be 75 basis points. The rate of interest will be... adjusted automatically as of each Business Day based on changes in the Daily LIBOR Rate without notice to the Borrower. 1.00% View More Arrow
Found in CHESAPEAKE UTILITIES CORP contract
Daily LIBOR Rate. Shall mean, for any day, the rate per annum determined by the Bank by dividing (A) the Published Rate by (B) a number equal to 1.00 minus the percentage prescribed by the Federal Reserve for determining the maximum reserve requirements with respect to any eurocurrency fundings by Form 8C (Multistate) Rev. 9/20238310621 v2 banks on such day; provided, however, if the Daily LIBOR Rate determined as provided above would be less than 75 basis points, zero, then such rate shall be deemed to be 75... basis points. zero. The rate of interest will be adjusted automatically as of each Business Day based on changes in the Daily LIBOR Rate without notice to the Borrower. Borrower View More Arrow
Found in LUNA INNOVATIONS INC contract
Daily LIBOR Rate. Shall mean, for any day, the rate per annum determined by the Bank by dividing (A) the Published Rate by (B) a number equal to 1.00 minus the percentage prescribed by the Federal Reserve for determining the maximum reserve requirements with respect to any eurocurrency fundings by banks on such day; provided, however, if the Daily LIBOR Rate determined as provided above would be less than 75 50 basis points, then such rate shall be deemed to be 75 50 basis points. The rate of interest will be... adjusted automatically as of each Business Day based on changes in the Daily LIBOR Rate without notice to the Borrower. View More Arrow
Found in NORTHERN TECHNOLOGIES INTERNATIONAL CORP contract
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Daily LIBOR Rate. Shall mean, for any day, the rate per annum determined by the Bank by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the LIBOR Reserve Percentage
Found in MISCOR GROUP, LTD. contract
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