Bankers’ Acceptance Proceeds definition

Bankers’ Acceptance Proceeds means, on any Borrowing Date, in respect of a Bankers’ Acceptance to be purchased by the Lender on such Borrowing Date, the difference between (i) the result (rounded to the nearest whole cent, with one-half of one cent being rounded up) obtained by dividing the aggregate Face Amount of such Bankers’ Acceptance by the sum of one plus the product of (x) the Bankers’ Acceptance Discount Rate; and (y) a fraction the numerator of which is the number of days comprising the term to maturity of such Bankers’ Acceptance and the denominator of which is 365; and (ii) the applicable aggregate Banker’s Acceptance Fee.
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Bankers’ Acceptance Proceeds means, for any Bankers’ Acceptance issued hereunder, an amount calculated on the applicable date that such Bankers’ Acceptance is accepted by multiplying:
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Bankers’ Acceptance Proceeds means, in respect of each Bankers' Acceptance Drawdown, funds in an amount which is equal to: Face Amount ----------------- 1 + (Rate x Term) ----------- 365 (where "Face Amount" is the principal amount of the Bankers' Acceptance being purchased, "Rate" is the Reference BA Discount Rate divided by 100 and "Term" is the number of days in the term of the Bankers' Acceptance), less the applicable stamping fees in respect thereof;
Sample 1

Examples of Bankers’ Acceptance Proceeds in a sentence

  • Each determination by the Global Administrative Agent of the Stamping Fee, the BA Discount Rate and the Bankers’ Acceptance Proceeds shall, in the absence of manifest error be presumed correct.

  • When Bank receives an Instruction directing settlement of a trade in Financial Assets that includes all information required by Bank to effect such settlement, Bank will use reasonable care to effect such settlement as instructed.

  • Upon the timely fulfillment of all applicable conditions as set forth in this Agreement, the Lender shall deposit to the Borrower’s Account on each Borrowing Date for Bankers’ Acceptances immediately available Canadian Dollars in an aggregate amount equal to the Bankers’ Acceptance Proceeds of all Bankers’ Acceptances accepted by it on such Borrowing Date (which for greater clarity, shall be net of the applicable Bankers’ Acceptance Fee in respect of such Bankers’ Acceptances).

  • The Syndicated Canadian Bank shall provide, to the account of the Global Administrative Agent, the Bankers’ Acceptance Proceeds less the Stamping Fee payable by the Canadian Borrower with respect to the Bankers’ Acceptance.

  • Subject to the terms and conditions of the Credit Agreement and this Addendum, the undersigned Borrowers shall be entitled to receive the Bankers’ Acceptance Proceeds of Bankers’ Acceptances denominated in Canadian Dollars in accordance with the provisions of Section 2.2 of the Credit Agreement and this Addendum.

  • Each determination by the Global Administrative Agent of the Stamping Fee, the BA Discount Rate and the Bankers’ Acceptance Proceeds shall, in the absence of manifest error, be presumed correct.

  • The Syndicated Canadian Bank shall provide, to the account of the Global Administrative Agent, the Bankers’ Acceptance Proceeds less the Stamping Fee payable by the applicable Borrower with respect to the Bankers’ Acceptance.

  • Each Borrower authorizes and directs the Syndicated Canadian Banks to deduct from the Bankers’ Acceptance Proceeds of Bankers’ Acceptances purchased by such Syndicated Canadian Bank for its own account, the amount of each such Stamping Fee upon the issue of each Bankers’ Acceptance.


More Definitions of Bankers’ Acceptance Proceeds

Bankers’ Acceptance Proceeds means, for any Bankers’ Acceptance issued hereunder, an amount calculated on the applicable date that such Bankers’ Acceptance is accepted by multiplying: the face amount of the Bankers’ Acceptance by the quotient obtained by dividing: one by the sum of one plus the product of: the BA Discount Rate applicable to the Bankers’ Acceptance; and a fraction, the numerator of which is the number of days in the applicable Interest Period and the denominator of which is 365 with the quotient being rounded up or down to the fifth decimal place and .00005 being rounded up.
Sample 1
Bankers’ Acceptance Proceeds means, in respect of each Bankers' Acceptance Advance, funds (rounded to the nearest cent) in an amount which is equal to: Australian Borrower Addendum 141 Face Amount -------------------- 1+ (Rate x Term) ------------- 365
Sample 1
Bankers’ Acceptance Proceeds means, for any Bankers’ Acceptance issued hereunder, an amount calculated on the applicabledate that such Bankers’ Acceptance is accepted by multiplying: the face amount of the Bankers’ Acceptance bythe quotient obtained by dividing: one by the sum of one plus the product of: the BA Discount Rate applicable to the Bankers’ Acceptance; and a fraction, the numerator of which is the number of days in the applicable Interest Period and the denominator ofwhich is 365 with the quotient being rounded up or down to the fifth decimal place and .00005 being rounded up.
Sample 1

Related to Bankers’ Acceptance Proceeds

  • Bankers’ Acceptance means a time draft or xxxx of exchange or other deferred payment obligation relating to a Commercial Letter of Credit which has been accepted by the L/C Issuer.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • 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.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Canadian Loan means an extension of credit by a Canadian Lender to the Canadian Borrower under Article II in the form of a Committed Loan or a Swing Line Loan.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Domestic Loans means CD Loans or Base Rate Loans or both.

  • Canadian Borrowing means a borrowing consisting of simultaneous Canadian Loans of the same Type and, in the case of BA Equivalent Loans or LIBO Loans, having the same Interest Period made by each of the Canadian Lenders pursuant to Section 2.3.

  • B/A Equivalent Loan has the meaning assigned to such term in Section 2.06(j).

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Canadian Base Rate Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Canadian Base Rate in accordance with the provisions of Article II.

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Revolving Advances means Advances made other than Letters of Credit.

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Revolving Advance has the meaning given in Section 2.1.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Loan Advance The meaning specified in Section 2.2(a).