NIBOR

NIBOR. (Norwegian Interbank Offered Rate) means in relation to a Drawing and in respect of any Interest Period (a) the rate per annum equal to the offered quotation for deposits in amounts equal to that Drawing or the Loan (and for periods equal to the Interest Period of that Drawing or the Loan) ascertained by the Agent to be the rate appearing on Reuters page NIBO/NIBR, published by Reuters through its monitor service or any equivalent successor to such service at or about 12.00 noon (Norwegian... time) on the applicable Quotation Date; or (b) if no such rate is available, the arithmetic mean of the rate per annum at which the Banks are able to acquire NOK in the amount and for the Interest Period equal to such Drawing in the Norwegian interbank market at or about 12.00 noon (Norwegian time) on the applicable Quotation Date, as (in the absence of manifest error) conclusively certified by the Agent to the Borrower; View More