BA Equivalent definition

BA Equivalent when used in reference to any Canadian Revolving Loan or Canadian Revolving Borrowing, means that such Canadian Revolving Loan bears, or the Canadian Revolving Loans comprising such Canadian Revolving Borrowing bear, interest at a rate determined by reference to the BA Rate.
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BA Equivalent when used in reference to any Loan or Borrowing, means that such Loan bears, or the Loans comprising such Borrowing bear, interest at a rate determined by reference to the BA Rate.
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BA Equivalent. RATE shall mean, for the Interest Period applicable to the Revolving Loan, the simple average of the annual rates for Canadian dollar Bankers' Acceptances, having such specified term (or a term as closely as possible comparable to such specified term), of CIBC that appears on the Reuters Screen CDOR Page as of 10:00 a.m. on such day that the Accommodation is made (or, if such day is not a Business Day, as of 10:00 a.m. on the immediately preceding Business Day), plus two and one quarter of one percent (2 1/4%) per annum.
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Related to BA Equivalent

  • BA Equivalent Loan any Loan in Canadian Dollars bearing interest at a rate determined by reference to the BA Rate in accordance with the provisions of Section 2.

  • Bankers’ Acceptance means a time draft or xxxx of exchange or other deferred payment obligation relating to a Commercial Letter of Credit which has been accepted by the L/C Issuer.

  • B/A Equivalent Loan shall have the meaning assigned to such term in Section 2.22(h).

  • BA means Business Area comprising of one or more SSA’s

  • Canadian Dollar means the lawful currency of Canada.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Alternate Currency Loan means any Loan denominated in an Alternate Currency.

  • Canadian Dollar Equivalent of any amount which is expressed in United States Dollars means, on any date, the Canadian dollar equivalent of such amount determined by multiplying such amount by the U.S. - Canadian Exchange Rate in effect on such date;

  • Euro-Dollar Loan means a Committed Loan which bears interest at a Euro-Dollar Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Euro-Rate means and include each of the Eurodollar Rate, Euro LIBOR and Sterling LIBOR.

  • Offshore Rate Loan means a Loan that bears interest based on the Offshore Rate.

  • Prime Rate Loans means any Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms thereof.

  • Offshore Currency Loan means any Offshore Rate Loan denominated in an Offshore Currency.

  • Alternate Currency means (i) with respect to any Letter of Credit, Canadian Dollars, Euros, Pound Sterling, New Zealand Dollars and Australian Dollars and any other currency other than Dollars as may be acceptable to the Administrative Agent and the Issuing Bank with respect thereto in their sole discretion and (ii) with respect to any Loan, any currency other than Dollars that is approved in accordance with Section 1.05.

  • BA Discount Proceeds means, in respect of any Bankers' Acceptance, an amount calculated on the applicable Drawdown Date which is (rounded to the nearest full cent, with one-half of one cent being rounded up) equal to the face amount of such Bankers' Acceptance multiplied by the price, where the price is calculated by dividing one by the sum of one plus the product of (i) the BA Discount Rate applicable thereto expressed as a decimal fraction multiplied by (ii) a fraction, the numerator of which is the term of such Bankers' Acceptance and the denominator of which is 365, which calculated price will be rounded to the nearest multiple of 0.001%.

  • Alternative Currency Daily Rate Loan means a Committed Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • LIBO Rate Loan means a Loan bearing interest, at all times during an Interest Period applicable to such Loan, at a fixed rate of interest determined by reference to the LIBO Rate (Reserve Adjusted).

  • Euro-Dollar Rate means a rate of interest determined pursuant to Section 2.07(b) on the basis of a London Interbank Offered Rate.

  • Canadian Dollars means the lawful money of Canada.

  • Prime Rate Loan means a Loan that bears interest based on the Prime Rate.

  • Eurodollar Loans Loans the rate of interest applicable to which is based upon the Eurodollar Rate.