Bank Xxxx Rate means, for an Interest Period for each advance comprising part of the same Borrowing, an interest rate per annum equal to (a) the rate percent per annum determined by the Australian Sub-Agent being the average bid rate for Bills (rounded up to 4 decimal places) quoted on page “BBSY” (or any page that replaces that page) on the Reuters Monitor System at or about 10:30 a.m. (Sydney time) on the first day of such Interest Period for a period equal to, or most closely approximating, such Interest Period; or (b) if the Bank Xxxx Rate cannot be determined in accordance with clause (a) of this definition, the rate percent per annum determined by the Australian Sub-Agent as the average of the rates quoted to the Australian Sub-Agent by each Australian Reference Bank for the purchase of Bills accepted by such Australian Reference Bank which have a tenor equal to such Interest Period and a face value equal to the amount of the applicable advance (it being understood that the Australian Sub-Agent shall not be required to disclose to any party hereto any information regarding any Australian Reference Bank or any rate provided by such Australian Reference Bank in accordance with this definition, including, without limitation, whether an Australian Reference Bank has provided a rate or the rate provided by any individual Australian Reference Bank, and shall not make any such determination of the Bank Xxxx Rate if fewer than two Australian Reference Banks provide quotes as provided in this clause (b)); provided that, if the Bank Xxxx Rate would otherwise be less than zero, such Bank Xxxx Rate shall instead be deemed for all purposes of this Agreement to be zero.
Bank Xxxx Rate means, in relation to any Loan in New Zealand Dollars for any day, the rate per annum equal to the Bank Xxxx Reference Bid Rate or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at or about 10:45 a.m. (Auckland, New Zealand time) on the on such day for overnight deposits and, if any such applicable rate is below zero, the Bank Xxxx Rate for such day will be deemed to be zero.
Bank Xxxx Rate means, in relation to an Interest Period for any Loan denominated in Australian Dollars or New Zealand Dollars, the rate determined by the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) to be the average bid rate displayed at or about 10:30 a.m. (Local Time) on the first day of such Interest Period on the Reuters screen BBSY page (for Australian Dollars) or BKBM page (for New Zealand Dollars), for a term equivalent to such Interest Period. If (a) for any reason there is no rate displayed for a period equivalent to such Interest Period or (b) the basis on which such rate is displayed is changed and in the reasonable opinion of the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) such rate ceases to reflect the cost to a majority in interest of the Multicurrency Lenders of funding to the same, then the Bank Xxxx Rate shall be the rate determined by the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) to be the average of the buying rates quoted to the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) by three reference banks selected by it at or about that time on that date for bills of exchange that are accepted by an Australian bank or a New Zealand bank, as the case may be, and that have a term equivalent to the Interest Period. If there are no such buying rates the rate shall be the rate reasonably determined by the Administrative Agent (or, in the case of any N.Z. Swingline Loan, the N.Z. Swingline Lender) to be its cost of funds. Rates will be expressed as a yield percent per annum to maturity and rounded up or down, if necessary, to the nearest two decimal places. When used in reference to any Loan or Borrowing, the term “Bank Xxxx Rate” refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Bank Xxxx Rate.
Examples of Bank Xxxx Rate in a sentence
Each N.Z. Swingline Loan shall be a Bank Xxxx Rate Loan (except to the extent required to be a Foreign Base Rate Loan as provided for herein) and, subject to the provisions of Section 2.07, shall bear interest as provided in Section 2.06(e).
Until Agent notifies Foreign Borrower Agent that such circumstance no longer exists, the obligation of Foreign Lenders to make affected Australian Bank Xxxx Rate Loans shall be suspended and no further Loans may be converted into or continued as such Australian Bank Xxxx Rate Loans (in which case the affected Australian Bank Xxxx Rate Loans shall be repaid).
If you’re a Small Customer, we must pay you interest on the Security Deposit at the Bank Xxxx Rate and that interest will accrue daily and be capitalised every 90 days unless paid.
During any Event of Default, Agent may (and shall at the direction of Required Borrower Group Lenders of the Borrower Group that consists of the New Zealand Borrowers) declare that no Loan may be made, converted or continued as a New Zealand Bank Xxxx Rate Loan.
If, due to any circumstance affecting the Australian market, Agent determines that adequate and fair means do not exist for ascertaining the Australian Bank Xxxx Rate on any applicable date or any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Foreign Borrower Agent of such determination.
More Definitions of Bank Xxxx Rate
Bank Xxxx Rate in relation to any calendar month, means:
Bank Xxxx Rate means, in relation to an Interest Period for any A/C Fronted Fixed Rate Loan denominated in Australian Dollars, the rate determined by the A/C Fronting Lender to be the average bid rate displayed at or about 10:30 a.m. (Sydney time) on the first day of such Interest Period on the Reuters screen BBSY page for a term equivalent to such Interest Period. If (a) for any reason there is no rate displayed for a period equivalent to such Interest Period or (b) the basis on which such rate is displayed is changed and in the reasonable opinion of the A/C Fronting Lender such rate ceases to reflect the A/C Fronting Lender's cost of funding to the same extent as at the Effective Date, then the Bank Xxxx Rate shall be the rate determined by the A/C Fronting Lender to be the average of the buying rates quoted to the A/C Fronting Lender by three reference banks selected by it at or about that time on that date for bills of exchange that are accepted by an Australian bank and that have a term equivalent to the Interest Period. If there are no such buying rates the rate shall be the rate reasonably determined by the A/C Fronting Lender to be its cost of funds. Rates will be expressed as a yield percent per annum to maturity and rounded up, if necessary, to the nearest two decimal places.
Bank Xxxx Rate means a daily published rate no less than the pre-tax of return that we earn over the period that the amount remains outstanding, or the period that a security deposit is held, were that amount to be invested in bank bills over a term of 90 days. Billing Period has that same meaning as in the Water and Sewerage Industry (Customer Service Standards) Regulations 2009 (Tas) and means the period (which may be recurrent) in respect of which an account may be issued by us to you.
Bank Xxxx Rate for a period, means the rate, expressed as a yield per cent per annum (rounded up (if necessary) to 4 decimal places) that is quoted as the average bid rate on the Reuters monitor system page "BBSY" (or any page that replaces that page) at about 10.10 am (Sydney time) on the first day of the relevant period for which the rate is sought, for Bank Bills that have a tenor in months which is closest to the period, provided that if there is a manifest error in the calculation of that average bid rate or if no average bid rate is so published for Bank Bills of that tenor by about 10.30 am then the Bank Xxxx Rate shall be the bid rate specified by TfNSW, having regard to the rates otherwise bid for Bank Bills having a tenor as described above at or around that time.
Bank Xxxx Rate means the rate required by the Regulatory Requirements. As at the Acceptance Date that rate is the average rate (rounded up to 4 decimal places) for bank accepted bills having a term equal to or nearest to 90 days as displayed on the “BBSW” page of the Reuters Monitor System at or about 10.30am Eastern Standard Time on the first day of the relevant 90 day period or, if the rate is not displayed on that day, the rate displayed on the most recent day before that day. Billing Data means information in or relating to bills we’ve issued to you. Billing Period means any period for which a xxxx is or may be issued. Business Customer means a Customer who is not a Residential Customer. Business Day means a day that is not a Saturday, Sunday or public holiday in Western Australia. Charges means the charges and fees described or set out in this Agreement. Customer means a Small Customer or an Other Customer. Details section means the document entitled Details section provided to you with these Agreement Terms. Distributor means the entity that is authorised or licensed to supply distribution services through the distribution system to which your Supply Address is connected. Due Date means the date you must pay your xxxx by which is set out on the xxxx or such other date as we agree with you. Excluded Loss means: loss of profit, revenue or anticipated savings; loss or denial of opportunity; loss of access to markets; damage to credit rating or goodwill; financing costs; special, incidental or punitive damages; or any loss or damage arising from special circumstances that are outside the ordinary course of things, however arising in respect of any circumstances under or in relation to this Agreement, and regardless of the basis on which a claim for same is made (including negligence).
Bank Xxxx Rate for an Interest Period, means the average mid rate for Bills having a tenor closest to the Interest Period as displayed on the “BBSW” page of the Reuters Monitor System on the first day of that Interest Period as determined by the Issuing and Principal Paying Agent.
Bank Xxxx Rate means the rate determined by the Issuing and Principal Paying Agent in good faith at approximately 10.30 am on that day, having regard, to the extent possible, to the mid rate of the rates otherwise bid and offered for bank accepted Bills of that tenor at or around that time (including any displayed on the “BBSY” page of the Reuters Monitor System); and