Applicable BA Discount Rate means, as applicable to a Bankers' Acceptance being purchased by any Canadian Lender on any day, the percentage discount rate (expressed to two decimal places and rounded upward, if necessary, to the nearest 1/100th of 1%) quoted by the Canadian Agent as that at which the Canadian Agent would, in accordance with normal practice, at or about 12:00 noon (Toronto, Ontario time), on such day, be prepared to purchase Bankers' Acceptances in an amount and having a maturity date comparable to the amount and maturity date of such Bankers' Acceptances.
Applicable BA Discount Rate. (i) with respect to any Canadian Lender named on Schedule I to the Bank Act (Canada), as applicable to a Bankers' Acceptance being purchased by such Lender on any day, the respective percentage discount rate per annum for a Canadian Dollar bankers' acceptance for the term and face amount comparable to the term and face amount of such Bankers' Acceptance that appears on the Reuters Screen CDOR Page as of 10:00 A.M. (Toronto, Ontario time) on the date of determination as reported by the Canadian Administrative Agent; provided, however, that if no rate appears on the Reuters Screen CDOR Page as contemplated then the CDOR Rate on any date shall be calculated as the arithmetic mean of the rates for the applicable term referred to above applicable to Canadian Dollar bankers' acceptances quoted by Canadian chartered banks named on Schedule I to the Bank Act (Canada) as of 10:00 a.m. (Toronto, Ontario time) on such applicable date and (ii) with respect to any Canadian Lender named on Schedule II to the Bank Act (Canada), as applicable to a Bankers' Acceptance being purchased by such Lender on any day, the lesser of (x) the average (as determined by the Canadian Administrative Agent) of the respective percentage discount rates (expressed to two decimal places and rounded upward, if necessary, to the nearest 1/100th of 1%) quoted to the Canadian Administrative Agent by each of Bank of America Canada and Citibank Canada (each a "Schedule II Reference Bank") as the percentage discount rate at which such Schedule II Reference Bank would, in accordance with its normal practices, at or about 10:00 A.M. (Toronto time) on such day, be prepared to purchase bankers' acceptances accepted by such Schedule II Reference Bank having a term and a face amount comparable to the term and face amount of such Bankers' Acceptance and (y) the rate that is 10 basis points per annum in excess of the rate determined pursuant to clause (i) of this definition in connection with the relevant issuance of Bankers' Acceptances.
Applicable BA Discount Rate means (i) with respect to any Schedule I Canadian Lender, as applicable to a Bankers’ Acceptance being purchased by such Schedule I Canadian Lender on any day, the CDOR Rate and (ii) with respect to any Schedule II/III Canadian Lender or any other Canadian Lender which is not a Schedule I, II or III Canadian Lender, as applicable to a Bankers’ Acceptance being purchased by, or BA Equivalent Loan to be advanced by, such Canadian Lender on any day, the lesser of (x) the average (as determined by the Canadian Administrative Agent) of the respective percentage discount rates (expressed to two decimal places and rounded upward, if necessary, to the nearest 1/100th of 1%) quoted to the Canadian Administrative Agent by each Schedule II/III Reference Canadian Lender as the percentage discount rate at which such Schedule II/III Reference Canadian Lender would, in accordance with its normal practices, at or about 10:00 A.M. (Toronto time) on such day, be prepared to purchase bankers’ acceptances accepted by such Schedule II/III Reference Canadian Lender having a term and a face amount comparable to the term and face amount of such Bankers’ Acceptance or BA Equivalent Loan, as applicable and (y) the rate that is 0.10% per annum in excess of the rate determined pursuant to clause (i) of this definition in connection with the relevant issuance of Bankers’ Acceptances, or advance of any BA Equivalent Loan.
Examples of Applicable BA Discount Rate in a sentence
The relevant Agent shall, as soon as practicable, notify the relevant Facility Borrower and the relevant Banks of each determination of the Eurodollar Rate or the Applicable BA Discount Rate.
For greater certainty, with respect to each extension of credit by way of Bankers' Acceptances, each Bankers' Acceptance shall have the same term and, upon sale, each Bankers' Acceptance shall be discounted at the Applicable BA Discount Rate.
On the relevant date of borrowing, each Canadian Bank severally agrees to purchase from the Canadian Borrowers, at the face amount thereof discounted by the Applicable BA Discount Rate, any Bankers' Acceptance accepted by it and provide to the Canadian Agent, for the account of the Canadian Borrowers, the BA Discount Proceeds in respect thereof after deducting therefrom the amount of the Acceptance Fee payable by the Canadian Borrowers to such Bank under Section 3.3 in respect of such Bankers' Acceptance.
On the relevant Borrowing Date, each C$ Bank shall purchase from CCCL, at the Applicable BA Discount Rate, any Bankers' Acceptance accepted by it and provide to the Canadian Administrative Agent the BA Discount Proceeds for the account of CCCL.
On the relevant date of borrowing, each Canadian Bank severally agrees to purchase from the Canadian Borrowers, at the face amount thereof discounted by the Applicable BA Discount Rate, any Bankers’ Acceptance accepted by it and provide to the Canadian Agent, for the account of the Canadian Borrowers, the BA Discount Proceeds in respect thereof after deducting therefrom the amount of the Acceptance Fee.
More Definitions of Applicable BA Discount Rate
Applicable BA Discount Rate means (a) with respect to an issue of Bankers’ Acceptances accepted by a Schedule I Bank, the CDOR Rate; and (b) with respect to an issue of Bankers’ Acceptances accepted by a Canadian Lender that is a Non-Schedule I Bank, the lesser of: (i) the rate set out in clause (a) above plus ten (10) basis points; and (ii) the annual rate, expressed as a percentage, as being the average discount rate for bankers’ acceptances having a comparable face value and a comparable issue and maturity date to the face value and issue and maturity date of such issue of Bankers’ Acceptances, expressed on the basis of a year of 365 days, quoted by the Canadian Reference Lenders that are Non-Schedule I Banks, for the purchase by such Canadian Lenders of Bankers’ Acceptances accepted by them, at or about 10:00 a.m. (Toronto time) on the date of issue of such Bankers’ Acceptances.
Applicable BA Discount Rate means, with respect to each Interest Period for any BA Equivalent Loan, (i) with respect to any Schedule I Canadian Lender, the CDOR Rate in effect on the date such BA Equivalent Loan is to be made, and (ii) with respect to any Schedule II/III Canadian Lender, the rate that is 0.10% per annum in excess of the rate determined pursuant to clause (i) of this definition in connection with the relevant BA Equivalent Loan.
Applicable BA Discount Rate with respect to any Schedule I C$ Bank, as applicable to a Bankers' Acceptance being purchased by such Schedule I C$ Bank on any day, the average (as determined by the Canadian Administrative Agent) of the respective percentage discount rates (expressed to two decimal places and rounded upward, if necessary, to the nearest 1/100th of 1%) quoted to the Canadian Administrative Agent by each Schedule I C$ Reference Bank as the percentage discount rate at which such Schedule I C$ Reference Bank would, in accordance with its normal practices, at or about 10:00 A.M., Toronto time, on such day, be prepared to purchase bankers' acceptances accepted by such Schedule I Reference C$ Bank having a maturity date comparable to the maturity date of such Bankers' Acceptance; and
Applicable BA Discount Rate with respect to any C$ Lender, as --------------------------- applicable to a Bankers' Acceptance being purchased by such C$ Lender on any day, the CDOR Rate in effect on such day with respect to such Bankers' Acceptance.
Applicable BA Discount Rate means (a) with respect to any Canadian Lender that is a Schedule I Bank, as applicable to a Bankers’ Acceptance being purchased by such Schedule I Bank on any day, the CDOR Rate for bankers’ acceptances having a term and face amount comparable to the term and face amount of such Bankers’ Acceptance and (b) with respect to any Canadian Lender other than a Schedule I Bank, as applicable to a Bankers’ Acceptance being purchased by such Canadian Lender on any day, the lesser of (i) the average (as determined by the Canadian Administrative Agent) of the respective percentage discount rates (expressed to two decimal places and rounded upward, if necessary, to the nearest 1/100th of 1%) quoted to the Canadian Administrative Agent by each Schedule II/III Reference Bank as the percentage discount rate at which such Schedule II/III Reference Bank would, in accordance with its normal practices, at or about 10:00 A.M. (Toronto time) on such day, be prepared to purchase Bankers’ Acceptances accepted by such Schedule II/III Reference Bank having a term and a face amount comparable to the term and face amount of such Bankers’ Acceptance and (ii) the rate that is 0.10% per annum in excess of the rate determined pursuant to clause (a) of this definition in connection with the relevant issuance of Bankers’ Acceptances.
Applicable BA Discount Rate means, on any day, with respect to an issue of Bankers’ Acceptances with the same maturity date,
(a) for a Lender which is a Schedule I Lender, CDOR Rate; and
(b) for an Acceptance Note Lender, the lesser of (i) the arithmetic average of the actual discount rates for Bankers’ Acceptances for such term accepted by the Schedule II Reference Lenders and (ii) the rate determined pursuant to clause (a) of this definition in connection with the relevant issuance of Bankers’ Acceptances plus 20 basis points per annum.
Applicable BA Discount Rate with respect to any Bankers' Acceptance being purchased by a Canadian Bank on any day, the average Bankers' Acceptance discount rate for the term of such Bankers' Acceptance as quoted on Reuters Service Page CDOR at or about 10:00 a.m. (Toronto, Ontario time) on such day.