Applicable FX Rate definition
Applicable FX Rate. (a) With respect to Non-USD Obligations or any balance denominated in Euros, in relation to any calculation that includes a comparison against the Reinvestment Target Par Balance and/or Target Initial Par Amount, the Initial Exchange Rate; and (b) with respect to any other calculations or determinations (including, but not limited to, determining the principal balance and the Collateral Principal Amount for such purposes) to be made under the Transaction Documents, unless otherwise specified therein or herein, the Spot Rate as of the date of such determination.
Applicable FX Rate means, on any day and in each case determined by the Calculation Agent, in respect of an amount in Canadian Dollars, the rate of exchange for the conversion of Canadian Dollars into US Dollars as published on Bloomberg screen CADUSD <Curncy> as at the closing time of the Toronto Stock Exchange (or any successor to such exchange) on that day, and, if the applicable rate of exchange is not available, another published alternative will be selected by the Calculation Agent in good faith and in a commercially reasonable manner.
Applicable FX Rate has the meaning set forth in Section 7(g) hereof.
Examples of Applicable FX Rate in a sentence
The Issuer (or the Collateral Manager on its behalf) shall direct the Trustee to exchange and transfer into the USD Principal Collection Subaccount any amounts received in the Euro Principal Collection Subaccount (other than amounts designated for reinvestment pursuant to the terms of this Indenture) at the Applicable FX Rate into U.S. Dollars.
The Issuer hereby directs the Trustee, and pursuant to such direction the Trustee shall, exchange and transfer into the USD Interest Collection Subaccount any amounts received in the Euro Interest Collection Subaccount at the Applicable FX Rate into U.S. Dollars on the Business Day following receipt of such amounts.
More Definitions of Applicable FX Rate
Applicable FX Rate means the seller’s reference exchange rate (tipo de cambio vendedor) as quoted by the Banco de la Nación Argentina at the close of business on the immediately preceding banking day in the Republic of Argentina;
Applicable FX Rate means, with respect to the financial statements of the Company and its Subsidiaries, the exchange rate used to convert into US Dollar any amounts expressed therein in a currency other than the US Dollar.
Applicable FX Rate means, with respect to any amount in a currency other than the US Dollar, the average between the bid and ask exchange rates as published in either (a) Banco de la Nación Argentina with respect to Argentine pesos, (b) Diario Oficial de la Federación (National Gazzette) with respect to Mexican pesos, (c) the Superintendencia Financiera de Colombia with respect to Colombian pesos, (d) in the official web page of the Central Bank of Brazil with respect to Brazilian reais, and (e) the Central Bank of Chile with respect to Chilean pesos, at the close of business as of the date immediately prior to the calculation date; provided, however, that for the purpose of the Accounts Receivale Certificate referred to in Section 1.5.(b)(i), of Section 1.5.(c) and of the Financial Information as of the Cut-off Date referred to in Section 4.2.(j), “Applicable FX Rate” shall mean, with respect to the financial statements of the Company and its Subsidiaries, the exchange rate used to convert into US Dollar any amounts expressed therein in a currency other than the US Dollar.
Applicable FX Rate means the spot or blended rate (as applicable, which blended rate shall take into account the amounts converted and the rates at which such conversion occurred) at which Sale Proceeds are or have been converted from U.S. dollars to Canadian dollars as contemplated by Section 7(b) of the Settlement and Support Agreement.