B/A Rate definition

B/A Rate means, with respect to a B/A for a particular Contract Period, (a) for any lender which is a Schedule I chartered bank under the Bank Act (Canada), the CDOR Rate on such day for such Contract Period; and (b) for any other lender, the lesser of (i) the CDOR Rate on such day for such Contract Period, plus 0.10%, and (ii) the percentage discount rate quoted by such Canadian Revolving Lender as the percentage discount rate at which such Canadian Revolving Lender would, in accordance with its normal practices, at or about 10:00 a.m., ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ time, on such date, be prepared to purchase bankers’ acceptances having a face amount and term comparable to the face amount and term of such B/A.

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B/A Rate means the discount rate at which the Lender's B/A's are purchased by the Lender or sold into the market by the Borrower.

B/A Rate means, in respect of any Interest Period, the average rate applicable to Canadian Dollar bankers’ acceptances for a period equal to such Interest Period appearing on the “Reuters Screen CDOR Page” (as defined in the International Swaps and Derivatives Association, Inc. 2000 definitions, as modified and amended from time to time), rounded to the nearest 1/100th of 1% (with .005% being rounded up), at approximately 10:00 a.m. (Toronto time), on the related Interest Determination Date, provided that if such rate does not appear on the Reuters Screen CDOR Page on such day the B/A Rate on such day shall be the rate for such period applicable to Canadian Dollar bankers’ acceptances quoted by a bank listed in Schedule I of the Bank Act (Canada), as selected by the Administrative Agent, as of 10:00 a.m. (Toronto time) on such day or, if such day is not a Business Day, then on the immediately preceding Business Day plus 0.10% per annum. For the avoidance of doubt, if the B/A Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.

Examples of B/A Rate in a sentence

All repayments of any Revolving Loans or Term Loans that are denominated in Dollars or Canadian Dollars shall be applied as follows: first, to repay such Loans outstanding as Base Rate Loans or Canadian Base Rate Loans, as applicable, and second, to repay such Loans outstanding as Eurocurrency Rate Loans or BA Rate Loans, with those Eurocurrency Rate Loans or BA Rate Loans having earlier expiring Interest Periods being repaid prior to those having later expiring Interest Periods.
Loans denominated in Canadian Dollars shall be made as Canadian Base Rate Loans unless the Borrowing Request specifies that all or a portion thereof shall be BA Rate Loans.
Each Borrower’s right to request, and such Lender’s obligation, if any, to make Eurocurrency Rate Loans or BA Rate Loans, as applicable, shall thereupon be restored.
If, at any time after a Lender gives notice under this clause (d), such Lender determines that it may lawfully make Eurocurrency Rate Loans or BA Rate Loans, such Lender shall promptly give notice of that determination to the U.S. Borrower and the Agent, and the Agent shall promptly transmit the notice to each other Lender.
Each such election shall be in substantially the form of Exhibit G and shall be made by giving the Agent prior written notice by 12:00 noon (New York City time) at least three Business Days in advance specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or BA Rate Loans, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.

More Definitions of B/A Rate

B/A Rate means, for any day and relative to a B/A Borrowing having any specified term, the simple average of the annual rates applicable to a Canadian Dollar bankers’ acceptances displayed and identified as such on the display referred to as the “CDOR Page” (or any display substituted therefore) of Reuter Monitor Money Rates Service as at approximately 10:00 a.m. (Toronto time) on such day (or, if such day is not a Business Day, as of 10:00 a.m. on the immediate preceding Business Day), provided that if such rates do not appear on the CDOR Page at such time on such date, the rate for such date will be the annual discount rate (rounded upward to the nearest whole basis point) as of 10:00 a.m. on such day at which the Agent is then offering to purchase Canadian Dollar bankers’ acceptances accepted by it having such specified term (or a term as closely as possible comparable to such specified term).

B/A Rate means, for any day and relative to a BA Equivalent Loan having any specified term, the simple average of the annual rates applicable to a Canadian Dollar bankers’ acceptances displayed and identified as such on the display referred to as the “CDOR Page” (or any display substituted therefore) of Reuter Monitor Money Rates Service as at approximately 10:00 a.m. (Toronto time) on such day (or, if such day is not a Business Day, as of 10:00 a.m. on the immediate preceding Business Day), provided that if such rates do not appear on the CDOR Page at such time on such date, the rate for such date will be the annual discount rate (rounded upward to the nearest whole basis point) as of 10:00 a.m. on such day at which CIBC is then offering to purchase Canadian Dollar bankers’ acceptances accepted by it having such specified term (or a term as closely as possible comparable to such specified term).

B/A Rate means for each day the basic rate determined by Lender to be in effect on such day for the internal guidance of its personnel in pricing bankers' acceptances accepted for discount for its customers in amounts and maturities comparable to drafts offered by Borrower to Lender on such date for acceptance and discount. Lender's B/A Rate is not necessarily the lowest rate that Lender charges for acceptance and discount of bankers' acceptances.

B/A Rate means, for the Interest Period of each BA Equivalent Loan, the rate of interest per annum equal to the annual rate of interest quoted at 11:00 a.m. (Toronto time) on the Business Day which is the first day of such Interest Period by the Canadian Agent as being its rate of interest for bankers' acceptances in Canadian Dollars for a face amount similar to the amount of the applicable BA Equivalent Loan and for a term similar to the applicable Interest Period.

B/A Rate means the per annum rate equal to two and one-quarter percent (2.25%); provided, that, effective as of the first day of each calendar month (commencing with the calendar month beginning June 1, 2002), the B/A Rate shall be the per annum rate set forth under the heading "Applicable B/A Rate" in the definition of Applicable Margin; provided, further, that at all times on or before November 30, 2002, the B/A Rate shall not be less than two and one-quarter percent (2.25%) per annum.

B/A Rate means the discount rate at which CIBC B/A's are purchased by CIBC or sold into the market by the Borrower.

B/A Rate shall have the meaning provided in Annex III.