Canadian Rate definition

Canadian Rate means, at any time the aggregate of (a) the rate of interest per annum equal to the higher of (i) the fluctuating annual rate of interest established by the Administrative Agent as the reference rate of interest it will use at such time to determine interest rates for loans in Canadian dollars to its Canadian commercial borrowers in Canada and designated as its prime rate; and (ii) the annual rate of interest established by the Administrative Agent to be the discount rate, calculated on the basis of a year of 365 days, of the Administrative Agent established in accordance with its normal practice as at or about 10:00 a.m. (Toronto time) on such day in respect to bankers’ acceptances outstanding for 30 days accepted by it, plus 1.0% per annum plus, (b) the Applicable Margin; adjusted automatically with each change in such rate, all without the necessity of any notice to the Canadian Borrower or any other Person; provided that if the discount rate determined pursuant to clause (a)(ii) of this definition would be less than 0%, such rate shall be deemed to be 0% for the purposes of this Agreement.
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Canadian Rate means, at any time, the higher of (i) the Prime Rate and (ii) the annual rate of interest established by the Bank as its discount rate in accordance with its normal practice as at or about 10:00 a.m., Montreal time on such day in respect to BAs outstanding for thirty days accepted by the Bank, plus one percent per annum.
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Canadian Rate means, at any time the aggregate of (a) the rate of interest per annum equal to the higher of (i) the fluctuating annual rate of interest established by the Administrative Agent as the reference rate of interest it will use at such time to determine interest rates for loans in Canadian dollars to its Canadian commercial borrowers in Canada and designated as its prime rate; and (ii) the annual rate of interest established by the Administrative Agent to be the discount rate, calculated on the basis of a year of 365
Sample 1

Examples of Canadian Rate in a sentence

  • On each Interest Payment Date in respect of the Canadian Rate Loan, the Borrower shall pay the Administrative Agent interest on the Canadian Rate Loan at the Canadian Rate.

  • The Borrower acknowledges, agrees and confirms with the Lenders that the records of each Lender in respect of payment of any Bankers' Acceptance by such Lender shall be binding on the Borrower and shall be conclusive evidence (in the absence of manifest error) of a Canadian Rate Advance to the Borrower and of an amount owing by the Borrower to such Lender.

  • The provisions of this Agreement relating to XXXXX Advances, Canadian Rate Advances, US Base Rate Advances, Term SOFR Advances and Acceptances shall apply mutatis mutandis to Conversion Advances comprising XXXXX Advances, Canadian Rate Advances, US Base Rate Advances, Term SOFR Rate Advances and Acceptances, respectively.

  • The applicable rate of interest for the Canadian Rate Loan will change simultaneously with any change in the Canadian Rate or the Applicable Margin.

  • All sums disbursed by the Administrative Agent in connection with any such actions, including, without limitation, court costs, expenses, other charges relating thereto and reasonable attorneys' fees, shall be payable on demand by such Obligor to the Administrative Agent, for its own account and, until paid, shall bear interest at the US Base Rate, if owing in US Dollars, or the Canadian Rate if Owing in Canadian Dollars or in any other currencies.


More Definitions of Canadian Rate

Canadian Rate means the rate agreed to by The Bank of Nova Scotia and the Company.
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Canadian Rate means the annual rate of interest which is at any time equal to the aggregate of (a) the fluctuating annual rate of interest established from time to time by the Lender as the base it will use at such time to determine rates of interest on CDollar loans to customers in Canada and designated as its prime rate plus (b) one and one-half of one percent (1 1/2%); 1.1.11 "CDOLLARS" and the symbol: "C$" each means lawful money of Canada; 1.1.12 "CREDIT FACILITIES" - means each of the credit facilities (including the Term Loan) which the Lender will make available to the Borrower pursuant to the Letter of Offer, as same may be increased, decreased, renewed, restated or otherwise modified or replaced from time to time, together with any other credit facilities which may be granted from time to time by the Lender to the Borrower;
Sample 1
Canadian Rate means, at any time, the rate of interest per annum equal to the greater of (i) the per annum rate of interest quoted, published and commonly known as the "prime rate" of the Administrative Agent which the Administrative Agent establishes in Canada as the reference rate of interest in order to determine interest rates for loans in Canadian dollars to its Canadian commercial borrowers; and (ii) the rate per annum determined by the Administrative Agent for one month bankers' acceptances as appears on the Reuters Screen CDOR (Canadian Deposit Offered Rate) page, plus 3/4 of 1% per annum, the whole as determined as at 10:00 a.m. (Montreal time), on the relevant Business Day (provided that, for non-Business Days, and if no CDOR rate is available for a given Business Day, the CDOR rate for the immediately previous Business Day for which a CDOR rate is available shall be used); in each case adjusted automatically with each quoted or published change in such rate, all without the necessity of any notice to the Borrower or any other Person.
Sample 1
Canadian Rate means, at any time the aggregate of (a) the rate of interest per annum equal to the higher of (i) the fluctuating annual rate of interest established by the Administrative Agent as the reference rate of interest it will use at such time to determine interest rates for loans in Canadian dollars to its Canadian commercial borrowers in Canada and designated as its prime rate; and (ii) CDOR Rate, plus 1.00% per annum plus, (b) the Applicable Margin; in each case adjusted automatically with each change in such rate or the Applicable Margin, all without the necessity of any notice to the Borrower or any other Person.
Sample 1

Related to Canadian Rate

  • Canadian Base Rate means the rate determined by the Agent as the higher of (i) the annual rate of interest announced by the Agent (or any of its branches) as being its “prime rate” for determining interest rates on Canadian Dollar-denominated commercial loans made by it in Canada and (ii) the BA Rate (after giving effect to any minimum rate set forth in the definition thereof) for a one month BA Interest Period commencing on such day (or, if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • Canadian Dollar means the lawful currency of Canada.

  • Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.

  • CDOR Rate is defined in the definition of “Eurocurrency Rate” herein.

  • Dollar Equivalent means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in any Alternative Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent or the L/C Issuer, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of Dollars with such Alternative Currency.

  • Euro-Dollar Rate means a rate of interest determined pursuant to Section 2.07 on the basis of an Adjusted London Interbank Offered Rate.

  • Canadian Dollars means the lawful currency of Canada.

  • Dollar Equivalent of the Foreign Currency has the meaning specified in Section 312(f).

  • U.S. Dollar Equivalent means, on any date of determination, (a) with respect to any amount in US Dollars, such amount, and (b) with respect to any amount in any Alternative Currency, the equivalent in US Dollars of such amount, determined by the Administrative Agent pursuant to Section 1.05 using the Exchange Rate with respect to such Alternative Currency at the time in effect under the provisions of such Section.

  • Foreign Currency LC Exposure means, at any time, the sum of (a) the Dollar Amount of the aggregate undrawn and unexpired amount of all outstanding Foreign Currency Letters of Credit at such time plus (b) the aggregate principal Dollar Amount of all LC Disbursements in respect of Foreign Currency Letters of Credit that have not yet been reimbursed at such time.

  • Swing Line Rate means, (a) in respect of Swing Line Loans made in US Dollars or any Alternate Currency other than Canadian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in the relevant currency for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas London to major banks in the London or other offshore interbank market for such currency at their request at approximately 11:00 a.m. (London time) on the first day of such Swing Line Loan and (ii) the Applicable Rate, (b) in the case of Swing Line Loans made in Canadian Dollars, the sum of (i) the Canadian Prime Rate and (ii) the Applicable Rate and (c) in the case of Swing Line Loans made in Australian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in Australian Dollars for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas, Sydney Branch to major banks in Sydney at their request at approximately 11:00 a.m. (Sydney time) on the first day of such Swing Line Loan and (ii) the Applicable Rate.

  • Dollar Equivalent Amount means, at any time, (a) as to any amount denominated in Dollars, the amount hereof at such time, and (b) as to any amount denominated in a currency other than Dollars, the equivalent amount in Dollars as determined by Agent at such time that such amount could be converted into Dollars by Agent according to prevailing exchange rates selected by Agent.

  • Canadian Base Rate Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Canadian Base Rate in accordance with the provisions of Article II.

  • FX Rate means the “noon exchange rate” as reported by the Bank of Canada on any relevant date or if applicable, the rate calculated by the Calculation Agent, between the Canadian dollar and the foreign currencies into which some Reference Shares are denominated, expressed as the amount of Canadian dollars per one unit of foreign currency.