LIBO rate (reserve adjusted)

The LIBO rate means, relative to any interest period for LIBO rate loans, the rate of interest equal to the average of the rates per annum at which dollar deposits in immediately available funds are offered to the administrative agent’s LIBOR office in the London interbank market as at or about 11:00 a.m. London, England time two business days prior to the beginning of such interest period for delivery on the first day of such interest period, and in an amount approximately equal to the amount of the administrative agent’s LIBO rate loan and for a period approximately equal to such interest period.