Daily Reset LIBOR Rate

Example Definitions of "Daily Reset LIBOR Rate"
Daily Reset LIBOR Rate. For any date, the rate determined by Agent to be the per annum rate (rounded upward to the nearest one-hundredth of one percent (1/100%)) at which Dollar deposits in immediately available funds and in lawful money of the United States would be offered to Agent, on behalf of Lenders, outside of the United States at approximately 11:00 a.m. (LIBOR time) on such date, for a one-month period.
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