CORRA definition

CORRA means the Canadian Overnight Repo Rate Average administered and published by the Bank of Canada (or any successor administrator).

CORRA means the Canadian Overnight Repo Rate Average, as published by the Bank of Canada, as the administrator of CORRA (or any successor Reference Rate Administrator), on the website of the Bank of Canada or any successor website.

CORRA means, in respect of any Toronto banking day:

Examples of CORRA in a sentence

• If neither the administrator nor authorized distributors provide or publish CORRA and a Fallback Index Cessation Effective Date with respect to CORRA has not occurred, then, in respect of any day for which CORRA is required, references to CORRA will be deemed to be references to the last provided or published CORRA.

• If an Index Cessation Effective Date occurs with respect to CORRA, then the base rate for an applicable interest period in respect of which the final day of the related observation period occurs on or after the Index Cessation Effective Date with respect to CORRA will be the CAD Recommended Rate plus a fallback spread (which may be positive or negative or zero).

• Three-Month Canadian Bankers' Acceptance Futures, CRA - Three-month Canadian Overnight Repo Rate Average (CORRA) Futures (launched June 12, 2020), CGZ - Two-Year Government of Canada Bond Futures, CGF - Five-Year Government of Canada Bond Futures and CGB - Ten-Year Government of Canada Bond Futures.

• As it is anticipated that the administrator of the Canadian Dollar Offered Rate ("CDOR") will cease publication of CDOR by June 28, 2024 and the Canadian financial benchmark will be replaced by the Canadian Overnight Repo Rate Average ("CORRA"), the Trust's Credit Facility contains fallback provisions to transition from CDOR to CORRA for Canadian dollar denominated draws when CDOR is discontinued.

• Already available in the market, CORRA is currently being enhanced and reformed by its administrator, the Bank of Canada.

More Definitions of CORRA

CORRA means the Canadian Overnight Repo Rate Average administered by the Bank of Canada (or any successor Reference Rate Administrator).

CORRA means the Canadian Overnight Repo Rate Average.

CORRA means the Canadian Overnight Repo Rate Average administered and published by the Bank of Canada (or any successor administrator of the Canadian Overnight Repo Rate Average).

CORRA means the Canadian Overnight Repo Rate Average administered and published by the CORRA Administrator.

CORRA means, with respect to any CORRA Business Day, (1) the Canadian Overnight Repo Rate Average for such CORRA Business Day, as published on the CORRA Administrator’s website on the immediately following CORRA Business Day; (2) if the rate specified in (1) above does not so appear, the Canadian Overnight Repo Rate Average as published in respect of the first preceding CORRA Business Day for which the Canadian Overnight Repo Rate Average was published on the CORRA Administrator’s website. CORRA will not be published in respect of any day that is not a CORRA Business Day. For this reason, in determining Reference Rate, the daily CORRA rate applied for any CORRA Business Day in the Observation Period that immediately precedes one or more days that are not CORRA Business Day in the Observation Period will be multiplied by the number of calendar days from and including such Business Day to, but excluding, the following Business Day.

CORRA. – means the Canadian Overnight Repo Rate Average (CORRA) as determined by the appointed CORRA benchmark administrator.

CORRA means, with respect to any applicable determination date, the Canadian Overnight Repo Rate Average administered and published on the second Business Day preceding such date by the Bank of Canada (or any successor administrator satisfactory to the Administrative Agent); provided, however, that if such determination date is not a Business Day, then CORRA means such rate that applied on the first Business Day immediately prior thereto.