Canadian Eurodollar Rate the rate per annum, determined by the Administrative Agent in accordance with its customary procedures, and utilizing such electronic or other quotation sources as it considers appropriate (rounded upwards, if necessary, to the next 1/100%), to be the rate at which Canadian Dollar deposits (for delivery on the first day of the requested Interest Period) are offered to major banks in the London interbank market 2 Business Days prior to the commencement of the requested Interest Period, for a term and in an amount comparable to the Interest Period and the amount of the Eurodollar Loan requested (whether as an initial Eurodollar Loan or as a continuation of an existing Eurodollar Loan or as a conversion of a Base Rate Loan to a Eurodollar Loan) by the Borrower in accordance with this Agreement, which determination shall be conclusive in the absence of manifest error.
Canadian Eurodollar Rate means, for any Interest Rate Determination Date with respect to an Interest Period for a Canadian Eurodollar Rate Loan, the rate per annum determined on the basis of the London interbank offered rate for Dollar deposits with maturities comparable to such Interest Period as of approximately 11:00 A.M. (London time) on such Interest Rate Determination Date as set forth on Telerate Page 3750; provided that in the event such rate does -------- not appear on Page 3750 (or otherwise) of the Telerate Service, "Canadian Eurodollar Rate" for purposes of this paragraph shall be determined by reference to (i) such other publicly available service for displaying interest rates for Dollar deposits as may be agreed upon by Company and Agent or (ii) in the absence of such agreement, the arithmetic average (rounded upward to the nearest 1/16 of one percent) of the offered quotations, if any, to first class banks in the London interbank market by Canadian Agent for Dollar deposits in same day funds comparable to the respective principal amounts of the Canadian Eurodollar Rate Loans of Canadian Agent for which the Canadian Eurodollar Rate is then being determined, with maturities comparable to such Interest Period as of approximately 10:00 A.M. (Toronto time) on such Interest Rate Determination Date.
Canadian Eurodollar Rate means, with respect to each Interest Period to be applicable to a Canadian Eurodollar Rate Loan comprising part of the same borrowing, the interest rate per annum equal to the arithmetic average (rounded upward to the nearest whole multiple of 1/16 of 1% per annum) of the rates per annum which leading banks in the interbank Eurodollar markets shall quote and offer to Canadian Reference Bank for placing deposits with Canadian Reference Bank in Dollars, at approximately 10:00 A.M. (New York time), two Business Days before the first day of such Interest Period, for a period comparable to such Interest Period and in an amount approximately equal to the amount of such Canadian Eurodollar Rate Loan.
Examples of Canadian Eurodollar Rate in a sentence
In the case of a Committed Borrowing, each applicable Lender shall make the amount of its Committed Loan available to the applicable Administrative Agent in immediately available funds at the applicable Administrative Agent’s Office not later than 11:00 a.m. in the case of Domestic Loans and Canadian Eurodollar Rate Committed Loans and 1:00 p.m. in the case of Canadian Base Rate Committed Loans on the Business Day specified in the applicable Committed Loan Notice.
Except as otherwise provided in subsections 2.6B, 2.6C and 2.6G, a Notice of Conversion/Continuation for conversion to, or continuation of, a Eurodollar Rate Loan or a Canadian Eurodollar Rate Loan (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the applicable Borrower shall be bound to effect a conversion or continuation in accordance therewith.
A full grant was not awarded as although the project was strongly supported it was considered that this group had sufficient funds to meet the remaining costs themselves.
Canadian Term Loans may be continued as or converted into Canadian Base Rate Loans and Canadian Eurodollar Rate Loans in the manner provided in subsection 2.2D.
Except as otherwise provided in subsections 2.6B, 2.6C and 2.6G, a Notice of Borrowing for a Eurodollar Rate Loan or Canadian Eurodollar Rate Loan, as the case may be, (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the applicable Borrower shall be bound to make a borrowing in accordance therewith.
More Definitions of Canadian Eurodollar Rate
Canadian Eurodollar Rate means, with respect to any Interest Period for any Canadian Eurodollar Loan, the lesser of (a) the rate per annum (rounded upwards, if necessary, to the nearest 1/16th of 1%) equal to the average of the offered quotations for Canadian Dollars appearing on Telerate Page 3740 (or if such Telerate Page shall not be available, any successor or similar service selected by Administrative Agent and Borrower) as the London interbank offered rate as of approximately 11:00 a.m., London time, as the case may be, on the day two Business Days prior to the first day of such Interest Period for Canadian Dollar deposits in an amount comparable to the principal amount of such Canadian Eurodollar Loan and having a term comparable to the Interest Period for such Canadian Eurodollar Loan, and (b) the Highest Lawful Rate. If neither such Telerate Page 3740 nor any successor or similar service is available, the term "Canadian Eurodollar Rate" means, with respect to any Interest Period for any Canadian Eurodollar Loan, the lesser of (a) the rate per annum (rounded upwards if necessary, to the nearest 1/16th of 1%) determined by Administrative Agent at approximately 11:00 a.m., London time (or as soon thereafter as practicable) two Business Days prior to the first day of the Interest Period for such Canadian Eurodollar Loan to be the rate quoted by Administrative Agent for the offering by Administrative Agent to leading banks in the London interbank market of Canadian Dollar deposits in an amount comparable to the principal amount of such Canadian Eurodollar Loan and having a term comparable to the Interest Period for such Canadian Eurodollar Loan, and (b) the Highest Lawful Rate.
Canadian Eurodollar Rate means, with respect to any Interest Period for any Canadian Eurodollar Loan, the lesser of (a) the rate per annum (rounded upwards if necessary, to the nearest 1/16th of 1%) determined by Administrative Agent at approximately 11:00 a.m., London time (or as soon thereafter as practicable) two Business Days prior to the first day of the Interest Period for such Canadian Eurodollar Loan to be the rate quoted by Administrative Agent for the offering by Administrative Agent to leading banks in the London interbank market of Canadian Dollar deposits in an amount comparable to the principal amount of such Canadian Eurodollar Loan and having a term comparable to the Interest Period for such Canadian Eurodollar Loan, and (b) the Highest Lawful Rate.
Canadian Eurodollar Rate means, with respect to each Interest Period to be applicable to a Tranche A Canadian Eurodollar Rate Loan or a Tranche B Canadian Eurodollar Rate Loan, the rate per annum obtained by determining the arithmetic average (rounded upward to the nearest 1/16th of 1%) of the offered quotation to first-class banks in the interbank Eurodollar market by each Canadian Loan Pricing Reference Bank for Dollar deposits of an amount in immediately available funds approximately equal to the principal amount of the Tranche A Canadian Eurodollar Rate Loan or Tranche B Canadian Eurodollar Rate Loan to be made by such Canadian Loan Pricing Reference Bank for a period approximately equal to such Interest Period determined as of 10:00 a.m. (New York time) two Business Days prior to the commencement of such Interest Period. If any Canadian Loan Pricing Reference Bank fails to provide its offered quotation to Administrative Agent, the Canadian Eurodollar Rate shall be determined on the basis of the offered quotation(s) by the other Canadian Loan Pricing Reference Bank(s).
Canadian Eurodollar Rate means, with respect to each Interest Period to be applicable to a Tranche A Canadian Eurodollar Rate Loan, the rate per annum obtained by determining the arithmetic average (rounded upward to the nearest 1/16th of 1%) of the offered quotation to first-class banks in the interbank Eurodollar market by each Canadian Loan Pricing Reference Bank for Dollar deposits of an amount in immediately available funds approximately equal to the principal amount of the Tranche A Canadian Eurodollar Rate Loan to be made by such Canadian Loan Pricing Reference Bank for a period approximately equal to such Interest Period determined as of 10:00 a.m. (New York time) two Business Days prior to the commencement of such Interest Period. If any Canadian Loan Pricing Reference Bank fails to provide its offered quotation to Primary Documentation Agent, the Canadian Eurodollar Rate shall be determined on the basis of the offered quotation(s) by the other Canadian Loan Pricing Reference Bank(s).
Canadian Eurodollar Rate means, for any Interest Period for a Canadian Eurodollar Rate Advance comprising part of the same Borrowing, an interest rate per annum equal to the rate per annum (rounded upward, if necessary, to the nearest whole multiple of 1/16 of 1%) for Canadian Dollars that appears on the Dow Jones Markets (Telerate) page 3750 (or such other comparable page as may, in the opinion of the Canadian Agent, replace such page for the purpose of displaying such rate) with maturities comparable to such Interest Period at approximately 11:00 A.M. (London time) two Business Days prior to the first day of such Interest Period.
Canadian Eurodollar Rate means, with respect to each Interest Period to be applicable to a Canadian Eurodollar Rate Loan, the offered quotation to first-class banks in the interbank Canadian Eurodollar market by Canadian Agent for Canadian Dollar deposits of an amount in immediately available funds approximately equal to the principal amount of the Canadian Eurodollar Rate Loan to be made by Canadian Agent for a period approximately equal to such Interest Period determined as of 10:00 A.M. (New York time) two Business Days prior to the commencement of such Interest Period.
Canadian Eurodollar Rate means, for any Interest Period for a Canadian Eurodollar Rate Advance comprising part of the same Borrowing, an interest rate per annum equal to the rate per annum (rounded upward, if necessary, to the nearest whole multiple of 1/16 of 1%) for Canadian Dollars that appears on the Dow Xxxxx Markets (Telerate) page 3750 (or such other comparable page as may, in the opinion of the Canadian Agent, replace such page for the purpose of displaying such rate) with maturities comparable to such Interest Period at approximately 11:00 A.M. (London time) two Business Days prior to the first day of such Interest Period.