Badlar Rate definition

Badlar Rate with respect to any Interest Rate Period, means the simple arithmetic mean of the interest rate for fixed-term deposits of more than AR$1,000,000 for a period of between 30 and 35 days (tasa de interés para depósitos a plazo fijo de más de pesos un millon – BADLAR promedio bancos privados) for private banks in Argentina published by the Central Bank on its website (which at the date hereof, is located at ▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇.▇▇/Estadisticas/estprv010001.asp?descri=18&fecha=FechaRef&campo=Bad pripes) (the “Badlar Private Interest Rate”) for each day during the Interest Determination Period. If the Badlar Private Interest Rate ceases to be provided by the Central Bank on any relevant day in an Interest Determination Period, the Calculation Agent shall calculate the Badlar Rate by reference to: (i) the replacement rate of the Badlar Private Interest Rate as reported by the Central Bank for such day and obtained by the Company and notified to the Calculation Agent in writing, (ii) if no replacement rate referred to in (i) above is reported by the Central Bank, the Calculation Agent will calculate the Badlar Rate considering the average of the rates reported for fixed-term deposits of more than AR$1,000,000 for a period of between 30 days and 35 days of the five largest private banks in Argentina for the three Business Days immediately preceding the relevant Interest Determination Date. The Company will obtain such rates from the banks and deliver them to the Calculation Agent. In order to select the five largest private banks, the Company will use the latest report available on available deposits published by the Central Bank.
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Examples of Badlar Rate in a sentence

  • Interest Rate: Badlar Rate plus 3.50%, subject to the Minimum Rate.

  • Thereafter, subject to the Minimum Rate, the interest rate on the Notes for the next following Interest Rate Period will be equal to the Badlar Rate, as determined on the applicable Interest Determination Date, plus 3.50% per annum, as determined by the Calculation Agent.

  • The initial interest rate on the Notes for the first Interest Rate Period will be equal to 18.9375% (the Badlar Rate as determined on the first Interest Determination Date, April 6, 2017), plus 3.50%, subject to a minimum interest rate of 15% per annum (the “Minimum Rate”).