Bank Xxxx Rate means, for an Interest Period for each advance comprising part of the same Borrowing, an interest rate per annum equal to (a) the rate percent per annum determined by the Australian Sub-Agent being the average bid rate for Bills (rounded up to 4 decimal places) quoted on page “BBSY” (or any page that replaces that page) on the Reuters Monitor System at or about 10:30 a.m. (Sydney time) on the first day of such Interest Period for a period equal to, or most closely approximating, such Interest Period; or (b) if the Bank Xxxx Rate cannot be determined in accordance with clause (a) of this definition, the rate percent per annum determined by the Australian Sub-Agent as the average of the rates quoted to the Australian Sub-Agent by each Australian Reference Bank for the purchase of Bills accepted by such Australian Reference Bank which have a tenor equal to such Interest Period and a face value equal to the amount of the applicable advance (it being understood that the Australian Sub-Agent shall not be required to disclose to any party hereto any information regarding any Australian Reference Bank or any rate provided by such Australian Reference Bank in accordance with this definition, including, without limitation, whether an Australian Reference Bank has provided a rate or the rate provided by any individual Australian Reference Bank, and shall not make any such determination of the Bank Xxxx Rate if fewer than two Australian Reference Banks provide quotes as provided in this clause (b)); provided that, if the Bank Xxxx Rate would otherwise be less than zero, such Bank Xxxx Rate shall instead be deemed for all purposes of this Agreement to be zero.
Bank Xxxx Rate means, in relation to any Loan in New Zealand Dollars for any day, the rate per annum equal to the Bank Xxxx Reference Bid Rate or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at or about 10:45 a.m. (Auckland, New Zealand time) on the on such day for overnight deposits and, if any such applicable rate is below zero, the Bank Xxxx Rate for such day will be deemed to be zero.
Bank Xxxx Rate means, in relation to an Interest Period for any Loan denominated in Australian Dollars or New Zealand Dollars, the rate determined by the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) to be the average bid rate displayed at or about 10:30 a.m. (Local Time) on the first day of such Interest Period on the Reuters screen BBSY page (for Australian Dollars) or BKBM page (for New Zealand Dollars), for a term equivalent to such Interest Period. If (a) for any reason there is no rate displayed for a period equivalent to such Interest Period or (b) the basis on which such rate is displayed is changed and in the reasonable opinion of the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) such rate ceases to reflect the cost to a majority in interest of the Multicurrency Lenders of funding to the same, then the Bank Xxxx Rate shall be the rate determined by the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) to be the average of the buying rates quoted to the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) by three reference banks selected by it at or about that time on that date for bills of exchange that are accepted by an Australian bank or a New Zealand bank, as the case may be, and that have a term equivalent to the Interest Period. If there are no such buying rates the rate shall be the rate reasonably determined by the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) to be its cost of funds. Rates will be expressed as a yield percent per annum to maturity and rounded up or down, if necessary, to the nearest two decimal places. When used in reference to any Loan or Borrowing, the term “Bank Xxxx Rate” refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Bank Xxxx Rate.
Examples of Bank Xxxx Rate in a sentence
Borrowings of more than one Type may be outstanding at the same time; provided that there shall not at any time be more than a total of ten Eurodollar Borrowings, EURIBOR Borrowings, HIBOR Borrowings, SIBOR Borrowings, Australian Bank Xxxx Rate Borrowings or Canadian BA Rate Borrowings outstanding.
Except as otherwise provided herein, an Interest Election Request for conversion to, or continuation of, any Eurodollar Borrowing, EURIBOR Borrowing, HIBOR Borrowing, SIBOR Borrowing, Australian Bank Xxxx Rate Borrowing or Canadian BA Rate Borrowing shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Except as otherwise provided herein, a Borrowing Request for a Eurodollar Borrowing, a EURIBOR Borrowing, a HIBOR Borrowing, a SIBOR Borrowing, an Australian Bank Xxxx Rate Borrowing or a Canadian BA Rate Borrowing shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a borrowing in accordance therewith.
If no Interest Period is specified with respect to any requested Eurodollar Borrowing, EURIBOR Borrowing, HIBOR Borrowing, SIBOR Borrowing, Australian Bank Xxxx Rate Borrowing or Canadian BA Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
The determination of the Bank Xxxx Rate by the Australian Sub-Agent shall be conclusive in the absence of manifest error.
More Definitions of Bank Xxxx Rate
Bank Xxxx Rate in relation to any calendar month, means:
Bank Xxxx Rate means, in relation to an Interest Period for any A/C Fronted Fixed Rate Loan denominated in Australian Dollars, the rate determined by the A/C Fronting Lender to be the average bid rate displayed at or about 10:30 a.m. (Sydney time) on the first day of such Interest Period on the Reuters screen BBSY page for a term equivalent to such Interest Period. If (a) for any reason there is no rate displayed for a period equivalent to such Interest Period or (b) the basis on which such rate is displayed is changed and in the reasonable opinion of the A/C Fronting Lender such rate ceases to reflect the A/C Fronting Lender's cost of funding to the same extent as at the Restatement Closing Date, then the Bank Xxxx Rate shall be the rate determined by the A/C Fronting Lender to be the average of the buying rates quoted to the A/C Fronting Lender by three reference banks selected by it at or about that time on that date for bills of exchange that are accepted by an Australian bank and that have a term equivalent to the Interest Period. If there are no such buying rates the rate shall be the rate reasonably determined by the A/C Fronting Lender to be its cost of funds. Rates will be expressed as a yield percent per annum to maturity and rounded up, if necessary, to the nearest two decimal places.
Bank Xxxx Rate means a daily published rate no less than the pre-tax of return that we earn over the period that the amount remains outstanding, or the period that a security deposit is held, were that amount to be invested in bank bills over a term of 90 days.
Bank Xxxx Rate means: on any day, the average bid rate (expressed as a percentage yield to maturity per annum rounded upwards, if necessary, to the nearest 0.01%) displayed on the page of the Reuters Monitor System, designated “BBSY” at or about 10:30am on that day (or if that day is not a Business Day then on the Business Day which immediately precedes that day) for the purchase of bills of exchange (as defined in the Bills of Exchange Act 1909 (Cth)) bearing the acceptance of a bank licensed under sections 8 or 9 of the Banking Xxx 0000 (Cth) and for a term to maturity of 90 days; or if there is manifest error in the calculation of that average rate, or that average rate is not displayed at or about 10:30am on that day, or if that average rate becomes clearly inappropriate, unfair or incapable of application, then the “Bank Xxxx Rate” for that day is as agreed between the Parties in good faith to be representative of the rate at which such bills are being purchased by such banks at or about 10:30am on that day.
Bank Xxxx Rate means the average rate per annum (expressed as a percentage) as quoted on Reuters page BKBM (or any successor page displaying substantially the same information) under the heading FRA for bank accepted bills having a term of three months as fixed at 10.45 am on the first Business Day following the due date (and on the first Business Day next following the expiration of each succeeding three-month period after the due date thereafter).
Bank Xxxx Rate for an Interest Period, means the average mid rate for Bills having a tenor closest to the Interest Period as displayed on the “BBSW” page of the Reuters Monitor System on the first day of that Interest Period as determined by the Issuing and Principal Paying Agent.
Bank Xxxx Rate means the rate determined by the Issuing and Principal Paying Agent in good faith at approximately 10.30 am on that day, having regard, to the extent possible, to the mid rate of the rates otherwise bid and offered for bank accepted Bills of that tenor at or around that time (including any displayed on the “BBSY” page of the Reuters Monitor System); and