Examples of PTAX Rate in a sentence
The conversion of the Brazilian Reais into United States Dollars shall be effected by applying the PTAX Rate in force in the Business Day immediately preceding the payment date of the dividend and interest on equity.
Fliman in Further Support of the TLA Claimholders Group’s Response to Omnibus Claims Objection, ECF No. 7373.The TLA Group also asks the Court to direct the Reorganized Debtor to pay the Noteholder Claims in BRL, or in USD equivalents calculated using the PTAX Rate.
If on the Business Day immediately preceding the date of the actual payment of the amounts due under this Contract the PTAX800 has not been disclosed by Banco Central do Brasil, the PTAX rate will be the replacement rate referred to in the definition of PTAX Rate on the Business Day immediately preceding the date of effective payment.
It maintains that to the extent the Court finds that the exchange rate is relevant in fixing and allowing the Noteholder Claims, the Court should apply the PTAX Rate reflected in those claims.
The TLA Group also asserts that, in the Objection, the Reorganized Debtor does not make any substantive arguments as to why the PTAX Rate is incorrect, or even assert that the Bloomberg Rate is more accurate or more widely accepted than the PTAX Rate.