COMV » Topics » LIBOR

This excerpt taken from the COMV 8-K filed Nov 12, 2008.
LIBOR” means, for any Interest Rate Determination Date with respect to a (i) Revolving Loan Interest Period for any Advance to be made, continued as or converted into a LIBOR Advance, the rate of interest per annum determined by Bank to be the per annum rate of interest at which deposits in United States Dollars are offered to Bank in the London interbank market (rounded upward, if necessary, to the nearest 1/10,000th of one percent (0.0001%)) in which Bank customarily participates at 11:00 a.m. (local time in such interbank market) two (2) Business Days prior to the first day of such Revolving Loan Interest Period for a period approximately equal to such Interest Period and in an amount approximately equal to the amount of such Advance, or (ii) Term Loan Interest Period for any Term Loan Advance to be made continued as or converted into a LIBOR Term Loan Advance, the rate of interest per annum determined by Bank to be the per annum rate of interest at which deposits in United States Dollars are offered to Bank in the London interbank market (rounded upward, if necessary, to the nearest 1/10,000th of one percent (0.0001%)) in which Bank customarily participates at 11:00 a.m. (local time in such interbank market) two (2) Business Days prior to the first day of such Term Loan Interest Period for a period approximately equal to such Term Loan Interest Period and in an amount approximately equal to the amount of such Term Loan.

 

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