Benchmark Portfolio NAV definition

Benchmark Portfolio NAV means, on any day, the net asset value of the Benchmark Portfolio, calculated pursuant to the formula set forth in Appendix 1 hereto. The initial Benchmark Portfolio NAV on which the calculation of the Final Benchmark Portfolio NAV will be calculated is $95.00 per Deposit Note.
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Benchmark Portfolio NAV means, on any day, the net asset value of the Benchmark Portfolio, calculated pursuant to the formula set forth in Appendix 1 hereto.
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Benchmark Portfolio NAV means on any Business Day, the sum of the value of all the trust units, shares and securities of the entities comprising the Benchmark Portfolio, less the liabilities of the Benchmark Portfolio, including all fees and expenses borne by the Benchmark Portfolio, as calculated by the Calculation Agent acting in good faith and according to industry practice. The Benchmark Portfolio NAV will be initially set at 1,000;
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Examples of Benchmark Portfolio NAV in a sentence

  • The Benchmark Portfolio NAV, calculated as of the date of the occurrence of the Extraordinary Event, will be notionally reinvested in Bonds and the Holders may only receive the Initial Deposit Amount at the Maturity Payment Date.

  • The Calculation Agent may make such other adjustments, if any, to the calculation of the Final Benchmark Portfolio NAV or such other determinations or calculations with respect to the Deposit Notes as it reasonably determines appropriate to account for the substitution of the Replacement Fund for the Deleted Fund.

  • The Target Investment Level will vary between 0% and 200% of the Benchmark Portfolio NAV depending on the Distance, as set forth in more detail herein.

  • When the Actual Investment Level exceeds 100%, the Calculation Agent will employ leverage by notionally borrowing from the Bank to notionally acquire additional Reference Shares in order to provide the Target Investment Level in excess of 100% of the Benchmark Portfolio NAV.

  • Any notional borrowing by the Calculation Agent may affect the return on the Deposit Notes, as the Benchmark Portfolio NAV will be reduced by an amount equal to the notional interest payable to the Bank on the notionally borrowed money, calculated at an annual interest rate equal to the One-month Bankers’ Acceptance Rate plus 0.25%.

  • When the allocation to the Share Portfolio exceeds 100% of the Benchmark Portfolio NAV, the Calculation Agent will employ leverage by notionally borrowing from the Bank to notionally acquire additional Reference Shares in order to provide the targeted exposure in excess of 100%.

  • Furthermore, if the Distance decreases to 2% or below, all of the assets of the Benchmark Portfolio will be allocated to the Bond for the remainder of the term of the Deposit Notes, regardless of the subsequent performance of the Reference Shares, and the Final Benchmark Portfolio NAV will be automatically set to $100.00 per Deposit Note.

  • Under the Portfolio Allocation Rules, the Target Investment Level, being the target exposure level to the Share Portfolio in the form of Reference Shares will be determined by reference to the Distance, being the distance (expressed as a percentage) between the Benchmark Portfolio NAV and the Bond Price.

  • The Calculation Agent may make such other adjustments, if any, to the calculation of the Final Benchmark Portfolio NAV or such other determinations or calculations with respect to the Deposit Notes as it reasonably determines appropriate to account for the substitution of the Replacement Fund for the Deleted Fund.Notwithstanding the Maturity Date, the Bank may redeem the Deposit Notes prior to maturity under certain special circumstances of an income tax nature affecting the Bank but outside its control.

  • The diagrams on the left hand side show the calculation of the Distance (a) as at the closing of the Offering, (b) as at the end of Year 1, where the Benchmark Portfolio NAV has increased and (c) at the end of Year 2, where the Benchmark Portfolio NAV has decreased.


More Definitions of Benchmark Portfolio NAV

Benchmark Portfolio NAV means, for each series of Notes, on any Business Day, the sum of the value of all the assets of the Benchmark Portfolio, including the Reference Assets and, as the case may be, Permitted Investments, less the liabilities of the Benchmark Portfolio, including all fees and expenses borne by the Benchmark Portfolio, as calculated by the Calculation Agent, in Canadian dollars, acting in good faith and according to industry-accepted methods. The Benchmark Portfolio NAV per Note as of the Issuance Date will be equal to the Starting NAV;
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Benchmark Portfolio NAV means on any Business Day, the sum of the value of all the units and shares of the Funds comprising the Benchmark Portfolio, based on the Fund NAV, less the liabilities of the Benchmark Portfolio, including the Management Fee. The Benchmark Portfolio NAV will be initially set at 1,000;
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Benchmark Portfolio NAV means, for any class of Deposit Notes of any series, on any day, the net asset value of the Benchmark Portfolio, calculated pursuant to the formula set forth in Appendix 1 hereto. The Initial Benchmark Portfolio NAV will be $97.50 per Class A Note and $100.00 per Class B Note and Class F Note.
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Related to Benchmark Portfolio NAV

  • Portfolio Value means the aggregate amount of portfolio of investments including cash balance without netting off of leverage undertaken by the CDMDF.

  • Reference Portfolio Return means on any day, the weighted average return of the Reference Assets calculated as the sum of the Weighted Reference Asset Return of each of the Reference Assets comprising the Reference Portfolio.

  • Benchmark Price shall have the meaning ascribed to the term in Section 1.1 of the relevant Trust Agreement.

  • Benchmark Rate means, with respect to any Redemption Date, the rate per annum equal to the annual equivalent yield to maturity or interpolated maturity of the Comparable Benchmark Issue (as defined below), assuming a price for the Comparable Benchmark Issue (expressed as a percentage of its principal amount) equal to the Comparable Benchmark Price for such Redemption Date.

  • Benchmark Gilt means, in respect of a Reset Period, such United Kingdom government security having a maturity date on or about the last day of such Reset Period as the Calculation Agent, with the advice of the Reference Banks, may determine to be appropriate;

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Current Portfolio At any time, the portfolio of Collateral Obligations and Cash and Eligible Investments representing Principal Proceeds (determined in accordance with Section 1.3 to the extent applicable), then held by the Issuer.

  • FTR Portfolio Auction Value means for each customer account of a Market Participant, the sum, calculated on a monthly basis, across all FTRs, of the FTR price times the FTR volume in MW.

  • Investment Portfolio means invested assets (including cash and cash equivalents, short-term investments, bonds or other fixed income securities and equity investments).

  • Administrator/Benchmark Event Date means, in respect of an Administrator/Benchmark Event, the date on which the authorisation, registration, recognition, endorsement, equivalence decision, approval or inclusion in any official register is (i) required under any applicable law or regulation; or(ii) rejected, refused, suspended or withdrawn, if the applicable law or regulation provides that the Relevant Benchmark is not permitted to be used under the Securities following rejection, refusal, suspension or withdrawal, or, in each case, if such date occurs before the Issue Date, the Issue Date.

  • Original Benchmark Rate on any day means the 3-months Euro Interbank Offered Rate (expressed as a percentage rate per annum) fixed at, and appearing on, the Screen Page as of 11:00 a.m. (Brussels time) on such day.

  • Benchmark Event means, with respect to an Original Reference Rate:

  • Alternative Benchmark Rate means an alternative benchmark or screen rate which is customarily applied in international debt capital markets transactions for the purposes of determining floating rates of interest (or the relevant component part thereof) in the Specified Currency, provided that all determinations will be made by the Independent Adviser in its reasonable discretion.

  • Administrator/Benchmark Event Date means, in respect of an Administrator/Benchmark Event, the date on which the authorisation, registration, recognition, endorsement, equivalence decision, approval or inclusion in any official register is (i) required under any applicable law or regulation; or

  • Successor Benchmark Rate means a successor to or replacement of the Original Benchmark Rate which is formally recommended by any Relevant Nominating Body.

  • Portfolio Asset means an asset of an investment fund;

  • Portfolio Data means the Key Terms in relation to all outstanding Trades between you and us in a form and standard that is capable of being reconciled. The information comprising the Portfolio Data for Portfolio Data Delivery Date will be prepared as at the close of business New York time on the immediately preceding Business Day.

  • Portfolio Adjusted Yield means, with respect to any Monthly Period, the average of the percentages obtained for each of the three preceding Monthly Periods by subtracting the Base Rate for such Monthly Period from the Portfolio Yield for such Monthly Period.

  • Total Open-End Mutual Fund Average Net Assets means the average of all of the determinations of the aggregate net assets of all open-end funds sponsored by Xxxxxx Management (excluding the net assets of such funds investing in, or invested in by, other such funds, such as Xxxxxx RetirementReady® Funds and Xxxxxx Money Market Liquidity Fund, to the extent necessary to avoid "double-counting" of such net assets) at the close of business on each business day during each month while the Management Contract is in effect.

  • Reference Portfolio means, the notional portfolio made up of each Reference Asset, as described in this Information Statement under “Reference Portfolio”.

  • Portfolio Investment means any Investment held by the Borrower and its Subsidiaries in their asset portfolio.

  • Three-Month Secondary CD Rate means, for any day, the secondary market rate for three-month certificates of deposit reported as being in effect on such day (or, if such day is not a Business Day, the next preceding Business Day) by the Board through the public information telephone line of the Federal Reserve Bank of New York (which rate will, under the current practices of the Board, be published in Federal Reserve Statistical Release H.15(519) during the week following such day) or, if such rate is not so reported on such day or such next preceding Business Day, the average of the secondary market quotations for three-month certificates of deposit of major money center banks in New York City received at approximately 10:00 a.m., New York City time, on such day (or, if such day is not a Business Day, on the next preceding Business Day) by the Administrative Agent from three negotiable certificate of deposit dealers of recognized standing selected by it.

  • Concentration Reserve Percentage means, at any time of determination, the largest of: (a) the sum of the five (5) largest Obligor Percentages of the Group D Obligors, (b) the sum of the three (3) largest Obligor Percentages of the Group C Obligors, (c) the sum of the two (2) largest Obligor Percentages of the Group B Obligors and (d) the largest Obligor Percentage of the Group A Obligors.

  • Timber Sale Account is an account maintained by Forest Service of all Pur- chaser’s deposits, credits, payment guarantees, and the charges for:

  • Administrator/Benchmark Event means, in respect of any Series of Preference Shares and an Index, any authorisation, registration, recognition, endorsement, equivalence decision, approval or inclusion in any official register in respect of the Index or the administrator of the Index or the Index Sponsor has not been, or will not be, obtained or has been, or will be, rejected, refused, suspended or withdrawn by the relevant competent authority or other relevant official body, in each case as required under any applicable law or regulation in order for the Company, the Calculation Agent or any other entity to performits or their respective obligations in respect of the Preference Shares or any Related Financial Product, all as determined by the Calculation Agent;

  • Assumed Reinvestment Rate one-twelfth (1/12) of the yield rate, as of the date 5 Business Days before the Prepayment Date, on the Treasury Security, as reported in The Wall Street Journal, expressed as a decimal calculated to five digits. In the event that no yield is published on the applicable date for the Treasury Security, Lender, in its discretion, shall select the non-callable Treasury Security maturing in the same year as the Treasury Security with the lowest yield published in The Wall Street Journal as of the applicable date. If the publication of such yield rates in The Wall Street Journal is discontinued for any reason, Lender shall select a security with a comparable rate and term to the Treasury Security. The selection of an alternate security pursuant to this Section shall be made in Xxxxxx’s discretion.