BA Equivalent Rate definition
BA Equivalent Rate means the rate per annum determined by reference to the average rate quoted on the Reuters Monitor Screen (Page CDOR, or such other page as may replace such page on such screen for the purpose of displaying Canadian interbank bid rates for Canadian Dollar bankers’ acceptances) applicable to Canadian Dollar bankers’ acceptances (on a 365 day basis) with a term comparable to the applicable Interest Period, plus, except in the case of any Lender that is a Schedule I Canadian Lender, 0.10%.
BA Equivalent Rate means, on any day, with respect to the BA Interest Period for a BA Equivalent Loan, the interest rate determined by the Agent by reference to the arithmetic average of the discount rates quoted for bankers’ acceptances in Canadian Dollars for such term on the Reuters Screen CDOR Page at or about 10:00 a.m. (Toronto time) determined on the first day of the applicable term or, in the event that such Reuters Screen CDOR Page does not appear on such day for such term, the rate determined by the Agent by reference to the arithmetic average of the discount rates for bankers’ acceptances for such term quoted by the banks listed in Schedule I to the Bank Act (Canada) determined in accordance with their normal practices at or about 10:00 a.m. (Toronto time) on the first day of the applicable term.
BA Equivalent Rate means, on any day, with respect to the Interest Period for a BA Rate Loan, the interest rate determined by the Agent by reference to the arithmetic average of the discount rates quoted for bankers' acceptances in Canadian Dollars for such term on the Reuters Screen CDOR Page at or about 10:00 a.m. (Toronto time) determined on the first day of the applicable term or, in the event that such Reuters Screen CDOR Page does not appear on such day for such term, the rate determined by the Agent by reference to the arithmetic average of the discount rates for bankers' acceptances for such term quoted by the banks listed in Schedule I to the Bank Act (Canada) determined in accordance with their normal practices at or about 10:00 a.m. (Toronto time) on the first day of the applicable term.
More Definitions of BA Equivalent Rate
BA Equivalent Rate means, for the applicable Interest Period, a rate per annum equal to the annual rate of interest quoted on the Business Day which is the first day of such Interest Period by Lender as being its rate of interest for bankers’ acceptances in Canadian dollars for a face amount similar to the amount of the applicable BA Equivalent Rate based loan and for a term similar to the applicable Interest Period.
BA Equivalent Rate with respect to each Interest Period for a BA Equivalent Rate Loan, the average per annum interest rate for Canadian Dollar bankers’ acceptances for an identical or comparable term as the proposed BA Equivalent Rate Loan appearing on the “Reuters Screen CDOR Page” (or comparably nationally recognized screen as determined by the Agent if the Reuters Screen is not available) at or about 10:00 a.m. Toronto time on such day or, if not such screen is available, the average rates for such period applicable to Canadian Dollar bankers’ acceptances for a an identical or comparable term as the proposed BA Equivalent Rate Loan quoted by the banks listed on Schedule I of the Bank Act (Canada) at or about 10:00 a.m. Toronto time on such day; provided, in no event shall the BA Equivalent Rate be less than 0%.
BA Equivalent Rate means, for the BA Interest Period of each BA Advance, the rate of interest per annum equal to the annual rate of interest quoted on the Business Day which is the first day of such BA Interest Period quoted on Reuters Service Page CDOR as of approximately 10:00 a.m. (Montreal time) as being the rate of interest for bankers' acceptances in Dollars for a face amount similar to the amount of the BA Advance and for a term similar to the applicable BA Interest Period;
BA Equivalent Rate means the CDOR Rate, plus 0.10%.
BA Equivalent Rate for the applicable Interest Period of each BA Equivalent Rate Loan, the rate of interest per annum equal to the annual rates applicable to Canadian Dollar bankers’ acceptances having an identical or comparable term as the proposed BA Equivalent Rate Loan displayed and identified as such on the display referred to as the “CDOR Page” (or any display substituted therefor) of ▇▇▇▇▇▇ Monitor Money Rates Service as at approximately 10:00 A.M. on such day (or, if such day is not a Business Day, as of 10:00 A.M. on the immediately preceding Business Day), plus five (5) basis points, provided that if such rates do not appear on the CDOR Page at such time on such date, the rate for such date will be the annual discount rate (rounded upward to the nearest whole multiple of 1/100 of 1%) as of 10:00 A.M. on such day at which a Canadian chartered bank listed on Schedule 1 of the Bank Act (Canada) as selected by Bank of America-Canada Branch is then offering to purchase Canadian Dollar bankers’ acceptances accepted by it having such specified term (or a term as closely as possible comparable to such specified term), plus five (5) basis points.
BA Equivalent Rate the rate of interest per annum equal to the average rate applicable to Canadian Dollar bankers’ acceptances having an identical or comparable term as the proposed BA Equivalent Loan displayed and identified as such on the display referred to as the “CDOR Page” (or 3775032.13 any display substituted therefor) of Reuters Monitor Money Rates Service as at approximately 10:00 a.m. Toronto time on such day (or, if such day is not a Business Day, as of 10:00 a.m. Toronto time on the immediately preceding Business Day); provided that if such rate does not appear on the CDOR Page at such time on such date, the rate for such date will be the average of the annual discount rate (rounded upward to the nearest whole multiple of 1/100 of 1%) as of 10:00 a.m. Toronto time on such day at which two or more Canadian chartered banks listed on Schedule 1 of the Bank Act (Canada) as selected by the Administrative Agent are then offering to purchase Canadian Dollar bankers’ acceptances accepted by them having such specified term (or a term as closely as possible comparable to such specified term); provided, further, that if the rate determined pursuant to this definition is a negative number, then the “BA Equivalent Rate” shall be deemed to be zero.
BA Equivalent Rate means, on any Interest Determination Date and with respect to any Advance under any Project Mortgage, the average bankers’ acceptance discount rate for bankers’ acceptances having a term of one month as quoted on the Reuters Screen CDOR Page in respect of Schedule I chartered banks (or such other page as is a replacement page for such bankers’ acceptances) at 10:00 a.m. (Toronto time) on such date; provided that if such rate does not appear thereon for any Business Day, the rate for such Business Day will be equal to the discount rate at approximately 10:00 a.m. on such Business Day at which The Bank of Nova Scotia, or any other Schedule I Canadian chartered bank selected by the Lender would purchase on such date, its own bankers’ acceptances or drafts having an aggregate face amount equal to the relevant Advance having a comparable maturity date; provided further, that if the CDOR Rate is replaced by a CDOR Successor Rate under, and as defined in, the Senior Credit Facility, the rate for such Business Day will equal the CDOR Successor Rate;