Overnight Investment Rate definition
Overnight Investment Rate means (a) with respect to an Accepted Note denominated in Sterling, the actual rate of interest, if any received by the Purchaser which intends to purchase such Accepted Note on the overnight deposit of Sterling designated for the purchase of such Accepted Note, (b) with respect to an Accepted Note denominated in Euros, the actual rate of interest, if any received by the Purchaser which intends to purchase such Accepted Note on the overnight deposit of Euros designated for the purchase of such Accepted Note, and (c) with respect to an Accepted Note denominated in Australian Dollars, the actual rate of interest, if any received by the Purchaser which intends to purchase such Accepted Note on the overnight deposit of Australian Dollars designated for the purchase of such Accepted Note, it being understood in each case that reasonable efforts will be made by or on behalf of the Purchaser to make any such deposit in an interest bearing account.
Overnight Investment Rate means (a) with respect to an Accepted Note denominated in Sterling, the actual rate of interest, if any received by the Purchaser which intends to purchase such Accepted Note on the overnight deposit of Sterling designated for the purchase of such Accepted Note and (b) with respect to an Accepted Note denominated in Euros, the actual rate of interest, if any received by the Purchaser which intends to purchase such Accepted Note on the overnight deposit of Euros designated for the purchase of such Accepted Note, it being understood in each case that reasonable efforts will be made by or on behalf of the Purchaser to make any such deposit in an interest bearing account.
Overnight Investment Rate means with respect to an Accepted Note denominated in an Applicable Currency other than Dollars, the actual rate of interest, if any, received by the Purchaser which intends to purchase such Accepted Note on the overnight deposit of the funds intended to be used for the purchase of such Accepted Note, it being understood that reasonable efforts will be made by or on behalf of the Purchaser to make any such deposit in an interest bearing account.
Examples of Overnight Investment Rate in a sentence
Interest on cash collateral shall accrue to the benefit of the Borrower, at a rate equal to the Administrative Agent's Overnight Investment Rate, and shall be paid to the Borrower quarterly in arrears five (5) Business Days following the end of each calendar quarter and, in any case, on the date of refund as to any portion of cash collateral being refunded, as set forth above.
More Definitions of Overnight Investment Rate
Overnight Investment Rate means the daily interest rate earned on collected funds deposited by Bank in a money market account or other investment options acceptable to the City according to City’s instructions detailed in Exhibit "A.”
Overnight Investment Rate means the actual rate of interest, if any, received by Prudential on the overnight deposit of the Canadian Dollar funds designated 25 - for the purchase of the Notes, it being agreed by Prudential that reasonable efforts will be made by or on behalf of Prudential to make such deposit in an interest bearing account.