BA Equivalent Loan definition

BA Equivalent Loan any Loan in Canadian Dollars bearing interest at a rate determined by reference to the BA Rate in accordance with the provisions of Section 2.

BA Equivalent Loan means any Canadian Loan in CD$ bearing interest at a rate determined by reference to the BA Rate in accordance with the provisions of Article II.

BA Equivalent Loan means a Revolving Credit Loan made to the Borrower by a Non-BA Lender in lieu of accepting such Non-BA Lender’s share of Bankers’ Acceptances which may be evidenced by a Discount Note.

Examples of BA Equivalent Loan in a sentence

• The amount of each BA Equivalent Loan shall be equal to the Discount Proceeds which would be realized from a hypothetical sale of those Bankers’ Acceptances which that Non-Acceptance Lender would otherwise be required to accept and purchase as part of such Drawing.

• To determine the amount of those Discount Proceeds, the hypothetical sale shall be deemed to take place at the Non-Acceptance Discount Rate for that BA Equivalent Loan.

• A Non-Acceptance Lender shall, in lieu of accepting and purchasing Bankers’ Acceptances, make a BA Equivalent Loan.

• On the maturity date for the Bankers’ Acceptances required by the Borrower, the Borrower shall pay to each Non-Acceptance Lender the amount of such Lender’s BA Equivalent Loan plus interest on the principal amount of that BA Equivalent Loan calculated at the applicable Non-Acceptance Discount Rate (in effect the date such BA Equivalent Loan was made) from the date of acceptance to but excluding the maturity date of that BA Equivalent Loan.

• For the avoidance of doubt, any outstanding Bankers’ Acceptance or BA Equivalent Loan shall remain in effect following the CDOR Cessation Date until such Bankers’ Acceptance’s or BA Equivalent Loan’s stated maturity.

More Definitions of BA Equivalent Loan

BA Equivalent Loan means an Advance in Canadian Dollars made by a Non-BA Lender to the Borrower in respect of which the Borrower has issued a BA Equivalent Note.

BA Equivalent Loan means an Advance made by a Non BA Lender evidenced by a Discount Note.

BA Equivalent Loan a Canadian Revolving Credit Loan made by a Non BA Lender evidenced by a Discount Note.

BA Equivalent Loan means an advance in Canadian Dollars made by a Canadian Lender to the Canadian Borrower evidenced by a BA Equivalent Note.

BA Equivalent Loan shall have the meaning given to it in Section 2.06(f).

BA Equivalent Loan has the meaning defined in Section 5.11(5).

BA Equivalent Loan means, in relation to a Drawing, a loan in Canadian Dollars made to the Borrower by a Non-Acceptance Lender as part of the Drawing in accordance with the provisions of Section 4.11.