Representative Rate means, with respect to any currency other than NIS, the representative rate of exchange of the NIS and such currency, last published by the Bank of Israel immediately prior to the relevant date of payment or calculation (as the case may be) and, if the Bank of Israel shall cease to publish a representative rate, then any other rate of exchange of the NIS and such currency, officially published, which comes in place of such representative rate, last published immediately prior to the relevant date of payment or calculation (as the case may be) and, in the absence of any such official rate, then the average of the selling and buying rates of exchange of such currency, for NIS (for cheques and remittances) prevailing at Bank Hapoalim and Bank Leumi at the end of the last Business Day prior to the relevant date of payment or calculation (as the case may be);
Representative Rate means the representative rate of exchange of the New Israeli Shekel against the US Dollar, as published by the Bank of Israel.
Representative Rate means the representative rate of exchange of one Dollar to New Israeli Shekels, as last published by the Bank of Israel prior to the date of payment of or reference to any amount quoted in this Agreement in Dollars.
Examples of Representative Rate in a sentence
Note: In this case Israeli Bidder must state in any invoice sent, the sum for payment, both in said foreign currency and in NIS (after being converted in accordance with the Representative Rate of Exchange published by the Bank of Israel - the last known value on date of issue of invoice) - the amount before addition of V.A.T and amount after the addition of V.A.T.
In case of local (Israeli) Contractor, where currency exchange change rates are needed to/ from NIS, all exchange rates shall be the Representative Rate of Exchange published by the Bank of Israel.
The NIS equivalent of the dollar value of any distribution shall be determined in accordance with the Representative Rate last published by the Bank of Israel prior to the date of the making of the distribution.
Note: In this case Israeli Bidder must state in any invoice sent, the sum for payment, both in said foreign currency and in NIS (after being converted in accordance with the Representative Rate of Exchange published by the Bank of Israel - the last known value on date of issue of invoice) - the amount before addition of V.A.T and amount after the addition of V.A.T. B.
The sum insured must correspond to one hundred thousand Dollars of the United States of America (USD 100,000) or its equivalent in Colombian pesos, in accordance with the Dollar Market Representative Rate, MRR.
More Definitions of Representative Rate
Representative Rate. The representative exchange rate of the Dollar to the NIS as published by the Bank of Israel, or any other official exchange rate of the Dollar to the NIS that may replace it, if applicable, provided that during any period in which the Bank of Israel does not publish exchange rates of the Dollar to the NIS, the Representative Rate shall be the exchange rate of the Dollar to the NIS determined by the Minister of Finance together with the Governor of the Bank of Israel for purposes of Dollar-linked government notes;
Representative Rate means the representative exchange rate of the relevant foreign currency in relation to Israeli currency published by the Bank of Israel on the relevant Business Day. Where the Bank of Israel does not publish a Representative Rate, the Representative Rate shall be deemed to be the rate for transfers and cheques determined by the Bank on the relevant date for the purchase of the relevant foreign currency from its customers against Israeli currency.
Representative Rate means a rate used to determine the nature of the job change (e.g., promotion, change to a lower grade, or reassignment) when different kinds of pay schedules are involved, whether in the same or different wage areas. A representative rate is the going rate (i.e., the rate or step keyed to the prevailing rate determination—for example, the established rate on a single-rate schedule, the second rate on a 5-rate regular wage schedule, the fourth rate on the General Schedule, or a class under the Foreign Service Officer and Foreign Services staff schedules) of the jobs or grades between which the employee is being changed. If the change is between different wage areas all determinations concerning representative rates are based on the scheduled rates for the jobs or grades involved which are in effect on the date of the change in the local wage area to which the employee is being changed.
Representative Rate or “The Dollar Representative Rate” The US of America Dollar representative rate in New Israeli Shekels as published by the Bank of Israel prior to the date of actual payment of each and every payment of rent or any part of these payments which the Tenant must and/or will be obligated to pay to the Landlord under the terms of this contract and all pursuant to the matter at hand. It is hereby agreed that the foregoing payments will be calculated and/or made in NIS, all pursuant to the matter at hand on days upon which there are no restrictions imposed and/or applicable to trading foreign currency. In the event that such restrictions apply then the relevant payment will be deferred until the first business day following the payment day upon which there are no restrictions imposed and/or that apply as above upon the trade of foreign currency and regular trading of foreign currency is conducted in commercial banks and the relevant payment will be paid in accordance with the foreign currency representative rate in NIS of the US of America as published for that business day upon which the relevant payment is made. It is hereby clarified and agreed that for the purpose of calculating the rent the payments stipulated in US Dollars will be linked to the “U.S. CPI” index as defined below in accordance with the provisions of Section 13 below. It is hereby agreed that the representative rate on the date of signing this contract is a sum of 4.15 NIS per 1 US Dollar.
Representative Rate. The US Dollar representative exchange rate in NIS that is published by the Bank of Israel prior to any relevant payment under this contract. In the event that the Bank of Israel no longer continues publishing this representative rate – this rate will be calculated pursuant to the average rate in NIS with respect to the sale and purchase rates (transfers and checks) in US Dollar by Bank Leumi Le’Israel Ltd., last known on the relevant date for payment and all pursuant to the matter at hand.
Representative Rate. - means, with respect to any currency other
Representative Rate with respect to each relevant calculation date – shall mean the representative rate of exchange of the respective foreign currency published by the Bank of Israel just before the date on which the respective calculation is to take place, or if the Bank of Israel does not publish at its usual time the representative rate of exchange of the respective foreign currency, any other rate of exchange of the respective foreign currency published by a competent authority just before the date on which the respective calculation is to take place, and which is determined by the Bank as being a representative rate of exchange for such foreign currency for each and every customer of the Bank, taken as a whole.