BA Rate Advance definition

BA Rate Advance means an Advance which bears interest based on the BA Rate. All BA Rate Advances shall be denominated in Canadian Dollars.
BA Rate Advance means an Advance that bears interest as provided in Section 4.1(d).
BA Rate Advance means an Advance which bears interest based on the BA Rate. All BA Rate Advances shall be denominated in Canadian Dollars. “Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate for such day plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”, (c) Term SOFR for an Interest Period of one month commencing on such day plus 1.00% and (d) 1.00%. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. If the Base Rate is being used as an alternate rate of interest pursuant to Section 2.09(c) hereof, then the Base Rate shall be the greatest of (a), (b) and (d) above and shall be determined without reference to clause (c) above. “Base Rate Advance” means an Advance which bears interest based on the Base Rate. All Base Rate Advances shall be denominated in Dollars. “Beneficial Ownership Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation. “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. “BIA” means the Bankruptcy and Insolvency Act (Canada). “Blocked Account Agreement” means with respect to a DDA established by a Loan Party, an agreement, in form and substance reasonably satisfactory to the Agent, establishing control (as defined in the UCC or the PPSA if applicable) of such account by the Agent and whereby the bank maintaining such account agrees, upon the occurrence

Examples of BA Rate Advance in a sentence

  • If such Advance is a BA Rate Advance, at the BA Rate plus the Applicable Margin.

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  • If such Canada-Borrower fails to select and to notify the Canada Agent of the BA Interest Period applicable to the BA Rate Advance, or its intention to repay or convert, such Canada-Borrower shall be deemed to have converted the BA Rate Advance into a Canadian Prime Advance as of the last day of the applicable BA Interest Period.

  • During such periods as such Advance is made in Canadian Dollars and is a BA Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the BA Rate for such Interest Period for such Advance plus (y) the Applicable Margin for BA Rate Advances in effect from time to time, payable in arrears on the last day of such Interest Period and on the date such BA Rate Advance shall be Converted or paid in full.

  • Each Canadian Prime Advance shall bear interest on the outstanding principal amount thereof, for each day from and including the date such Canadian Prime Advance is made or is converted from a BA Rate Advance into a Canadian Prime Advance pursuant to Section 2.7.3 to but excluding the date it becomes due or is converted into a BA Rate Advance pursuant to Section 2.7.3 at a rate per annum equal to the Canadian Prime Rate for such day.

  • Subject to the terms hereof, a Canadian Borrower may elect from time to time to convert all or any part of a Advance of any Type to such Canadian Borrower into any other Type or Types of Advance; provided that any conversion of any BA Rate Advance shall be made on, and only on, the last day of the Interest Period applicable thereto.

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  • Subject to the foregoing, prepayments pursuant to this Section 2.06(a) shall be permitted at any time without premium or penalty, and shall be, subject to customary breakage costs in the case of a prepayment of a Eurodollar Rate Advance or a Canadian BA Rate Advance other than on the last day of the relevant Interest Period.

  • With the majority of counties now members of the WTO and others, such as the countries of the FSU and China, waiting to join, tariffs are likely to be re- duced sharply over the next decade.

  • If such Canada-Borrower fails to select and to notify the Canada Agent of the BA Interest Period applicable to the BA Rate Advance, or its intention to repay or convert, such Canada- Borrower shall be deemed to have converted the BA Rate Advance into a Prime Advance as of the last day of the applicable BA Interest Period.


More Definitions of BA Rate Advance

BA Rate Advance means an Advance which, except as otherwise provided in Section 4(a), bears interest at the BA Rate.
BA Rate Advance means an Advance in Canadian Dollars that bears interest as provided in Section 2.08(a)(ii).

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