Applicable Rate of Exchange means -
i) in case a forward exchange contract /swap has not been booked by the Company with ICICI Bank, the applicable foreign currency xxxx selling rate of ICICI Bank prevailing on the Date of Crystalisation. Provided however, that if the relevant rate of exchange not quoted or not available for any reason on such days, then the rate prevailing on the immediately next Business Day when such rate shall be quoted or be available shall be the applicable rate of exchange;
ii) the forward exchange contract /swap rate in case a forward exchange contract /swap has been booked by the Company with ICICI Bank.
Applicable Rate of Exchange means, in respect of the conversion of one currency (the "First Currency") into another currency (the "Second Currency"), the applicable rate of exchange displayed on the appropriate page of the Reuters screen (calculated as the arithmetic mean of quotes by European contributors) for the purchase of the Second Currency with the First Currency in the Frankfurt am Main foreign exchange market at or about 11:00 am (German time) on a particular day, which shall be notified by the Security Agent in accordance with paragraph (e) of Clause 16.7 (Duties of the Security Agent). If the agreed page is replaced or service ceases to be available, the Security Agent may specify another page or service displaying the appropriate rate after consultation with the Company and the Primary Creditors.
Applicable Rate of Exchange means a fair market rate at which the relevant Finance Party is able, as soon as reasonably practicable after receipt, to purchase the contractual currency with the payment currency, taking into account any costs associated with the exchange.
Examples of Applicable Rate of Exchange in a sentence
In connection with such conversion (or any other currency conversion in connection with the payment of any Note), the Company shall deliver funds in Canadian Dollars in respect of such conversion to the Trustee or paying agent by 11:00 AM (New York City time) on the day that is one (1) Business Day prior to any such payment, and the Trustee or such paying agent shall convert such currency at the Applicable Rate of Exchange.
More Definitions of Applicable Rate of Exchange
Applicable Rate of Exchange means the spot exchange rate for the applicable currency pair in effect at the time of execution. The Trustee’s spot exchange rate is intended to reasonably relate to prevailing buy and sell rates, as applicable, available in the interbank foreign exchange market, and such rate, in respect of a particular transaction, may be based upon proprietary algorithms, using input from a variety of sources, and in consideration of data from actual transactions, current prices, market volatility, liquidity availability and price delivery convention. Neither the Trustee nor any paying agent shall have any liability for this rate or for any fluctuations in such rate or the underlying quotations or prices establishing such rate.
Applicable Rate of Exchange means, with respect to a particular transaction, the applicable rate of exchange as determined in Bank’s discretion. The applicable rate of exchange may be inclusive of mark-up. Mark-up is the spread that may be included as part of the rate in order to compensate Bank for a number of considerations, which might include risks taken, costs incurred, and services rendered, as well as the amount of revenue it expects to earn on the transaction. Bank may consider various pricing factors in determining mark-up, including the nature of the specific transaction, and those associated with the broader customer relationship, as well as any relevant operating costs.