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.
Examples of BA Equivalent Rate in a sentence
Interest is payable at the 3-Month BA Equivalent Rate plus 8.0% and facility management fees.
All BA Equivalent Rate Loans to be made by a particular Lender shall, at the option of such Lender, be evidenced by a promissory note in the form of a depository note made payable originally to and deposited with The Canadian Depository for Securities Limited pursuant to the Depository Bills and Notes Act (Canada).
Upon determining BA Equivalent Rate for any Interest Period requested by Borrower, Agent shall promptly notify Borrower thereof by telephone or electronically and, if requested by Borrower, shall confirm any telephonic notice in writing.
If Agent shall determine that on any date for determining BA Equivalent Rate, adequate and fair means do not exist for ascertaining such rates on the basis provided herein, then Agent shall immediately notify Borrower of such determination.
Advances in Canadian dollars bear interest at the Bankers Acceptance ("BA") Equivalent Rate or the Canadian prime rate plus an additional margin.
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 0.50%.
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;
BA Equivalent Rate means, in respect of any interest period applicable to a BA Equivalent Rate Advance, the lesser of (i) the average of the rates shown on the display referred to as the “CDOR Page” (or any display substituted therefor) on Reuters Domestic Money Service (or any successor source from time to time) at or about 10:00 a.m. on the first day of such interest period, for Bankers’ Acceptances with a term comparable to such interest period as determined by the Administrative Agent plus 0.10% per annum and (ii) the average of the bid rates (rounded upwards to the nearest 1/100th of 1%) quoted by the Non Schedule I Reference Banks as being the discount rate of such Lender calculated on the basis of a year of 365 days and determined in accordance with normal market practice for an advance equivalent to a bankers’ acceptance having a face amount comparable to the amount of such BA Equivalent Rate Advance for the applicable interest period as of 10:00 a.m. on such day, as determined by the Administrative Agent.
BA Equivalent Rate means at any time in respect of any dollar amount and any term of a BA Equivalent Loan, the rate of interest per annum, as determined by LaSalle in its sole discretion, which reflects the cost to LaSalle of obtaining funds at such time (whether or not any funds are actually obtained) in such dollar amount for a term substantially the same as such term.
BA Equivalent Rate means for any day and relative to bankers’ acceptances having any specified term and face amount or a Loan having a specified term and principal amount, the average of the annual rates applicable to Canadian Dollar bankers’ acceptances having such specified term and face amount (or a term and face amount as closely as possible comparable to such specified term and face amount or principal amount) quoted daily by the banks listed in Schedule 1 of the Bank Act (Canada) that appears on the Refinitiv Screen CDOR page at approximately 10:00 a.m. EST on such day (or, if such day is not a Business Day, as of approximately 10:00 a.m. EST on the preceding Business Day); provided that, if any such quoted rate is below zero, then the BA Equivalent Rate shall be deemed to be zero.
BA Equivalent Rate means at any time in respect of any dollar amount and any term of a BA Equivalent Loan, the rate of interest per annum, as determined by Lender to be equal to the CDOR Rate plus 0.05%.