GIC Rate or “GDA Rate” means the variable rate of interest accruing on the balance standing to the credit of the GIC Account being a variable rate at a minimum of 0.10% below the average of the rates per annum for Canadian Dollar bankers’ acceptances having a term of 30 days that appears on the Reuters Screen as of 10:00 a.m. (Toronto Time) on the date of determination, as reported by the GIC Provider (and if such screen is not available, any successor or similar service as may be selected by the GIC Provider) (calculated on the basis of the actual number of days elapsed and a 365 day year) or such greater amount as the Guarantor LP (or the Cash Manager on its behalf) and the GIC Provider may agree from time to time. For greater certainty, any change in the GIC Rate agreed to by the Guarantor LP (or the Cash Manager on its behalf) and the GIC Provider in accordance with the foregoing shall not constitute an amendment to, or a modification or variation of, the Guaranteed Investment Contract;
GIC Rate means the rate of interest accruing on the balance standing to the credit of the GIC Account equal to the XXXXX Spot Rate published on the date on which the amount is calculated (or, if such day is not a London Business Day, on the immediately preceding London Business Day) in respect of an LLP Payment Period or such other rate as may be agreed by the Issuer and the LLP which is published by the Bank of England and commonly used (or intended to be used) in the United Kingdom for the calculation of interest on deposits; Global Covered Bond means a Bearer Global Covered Bond and/or a Registered Global Covered Bond, as the context may require; Guarantee means the Covered Bond Guarantee;
GIC Rate means the variable rate of interest accruing on the balance standing to the credit of the GIC Account being a variable rate at a minimum of % below the average of the rates per annum for Canadian dollar bankers’ acceptances having a term of 30 days that appears on the “Reuters Screen CDOR Page” as of 10:00 a.m. (Toronto Time) on the date of determination, or if such day is not a Canadian Business Day, then on the immediately preceding Canadian Business Day rounded to the nearest 1/100th of 1% (with 0.005% being rounded up) as reported by the GIC Provider (and if such screen is not available, any successor or similar service as may be selected by the GIC Provider) (calculated on the basis of the actual number of days elapsed and a 365 day year) or such greater amount as the Guarantor (or the Cash Manager on its behalf) and the GIC Provider may agree from time to time. For greater certainty, any change in the GIC Rate agreed to by the Guarantor (or the Cash Manager on its behalf) and the GIC Provider in accordance with the foregoing shall not constitute an amendment to, or a modification or variation of, the Guaranteed Investment Contract;
Examples of GIC Rate in a sentence
The Trustees of UNITE HERE Union Local 75 Health & Welfare Plan may charge interest on contributions to the UNITE HERE Union Local 75 Health & Welfare Trust which are overdue by more than thirty (30) days at the rate of Scotiabank 30 day GIC Rate on the first day of each month in question plus 2%, compounded monthly.
On or as soon as reasonably practicable after each Payment Date and following determination of the applicable LIBOR rate, the Funding GIC Provider will inform Funding and the Cash Manager of the Funding (Current Issuer) GIC Rate which shall apply for the relevant interest period.
Amend the definition of GIC Rate in relation to a GIC Account such that the rate of interest accruing on the balance standing to the credit of such account will never be negative by the introduction of a zero floor.
More Definitions of GIC Rate
GIC Rate means the rate of interest accruing on the balance standing to the credit of the GIC Account equal to the rate of three month Sterling LIBOR in respect of an LLP Payment Period; Global Covered Bond means a Bearer Global Covered Bond and/or a Registered Global Covered Bond, as the context may require; Guarantee means the Covered Bond Guarantee;
GIC Rate means the rate of interest accruing on the balance standing to the credit of the GIC Account being a variable rate determined as the percentage discount agreed to by the Guarantor (or the Cash Manager on its behalf) and the GIC Provider from time to time, to the GIC Provider’s Prime Rate, provided, however, that in no event shall such rate be less than 0.00%. For greater certainty, any change in the GIC Rate as a result of a change in the GIC Provider’s Prime Rate or otherwise mutually agreed to by the Guarantor (or the Cash Manager on its behalf) and the GIC Provider in accordance with the foregoing shall not constitute an amendment to, or a modification or variation of, the Guaranteed Investment Contract;
GIC Rate means the rate of interest accruing on the balance standing to the credit of the GIC Account equal to the annual rate of the HSBC Cash Management Account Reference Rate less % in respect of a Guarantor Payment Period; provided, however, that in no event shall such floor be less than %;
GIC Rate means the annual advertised five year guaranteed investment certificate rate of First City Trust Company for Certificates with interest p aid annu all y .
GIC Rate means the rate of interest accruing on the balance standing to the credit of the GIC Account which 0.5 per cent. for one month ISK deposits or such greater amount as the Fund and the GIC Provider may agree from time to time; Global Covered Bond means a Temporary Global Covered Bond and/or a Permanent Global Covered Bond, as the context may require; Group means the Issuer and its Subsidiaries; Guarantee means the Covered Bond Guarantee; Guarantee Priority of Payments has the meaning given to it in Clause 13.4 of the Fund Deed; Guaranteed Amounts means, prior to the service of a Fund Acceleration Notice, with respect to any Due for Payment Date, the sum of Scheduled Interest and Scheduled Principal, in each case, payable on that Due for Payment Date, or after service of a Fund Acceleration Notice, an amount equal to the relevant Early Redemption Amount as specified in the Terms and Conditions plus all accrued and unpaid interest and all other amounts due and payable in respect of the Covered Bonds, including all Excluded Scheduled Interest Amounts, all Excluded Scheduled Principal Amounts (whenever the same arose) and all amounts payable by the Fund under the Representative and Agency Agreement;
GIC Rate means the rate of interest accruing on the balance standing to the credit of the GIC Account being a variable rate determined as a percentage of the applicable Canadian 90-day T-bill rate for such type of balances as the Guarantor (or the Cash Manager on its behalf) and the GIC Provider may agree from time to time, provided, however, that in no event shall such rate be less than 0.00%. For greater certainty, any change in the GIC Rate agreed to by the Guarantor (or the Cash Manager on its behalf) and the GIC Provider in accordance with the foregoing shall not constitute an amendment to, or a modification or variation of, the Guaranteed Investment Contract;