BBIR definition

BBIR means the Bank’s Business Bank Indicator Rate of interest that applies to the Bank’s Commercial and Institutional Banking customers’ overdraft facilities (as determined by the Bank in its sole discretion). BBIR is quoted on the Bank’s Rate Fees and Charges webpage. Excess Fee: If drawings are made to the Borrower’s account in excess of the agreed Facility Limit and the Bank decides to pay those drawings, the Bank may charge an excess fee of up to $50.00 for each day the Borrower’s account is in excess.
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BBIR means the Bank’s Business Bank Indicator Rate of interest that applies to the Bank’s Commercial and Institutional Banking customers’ overdraft facilities (as determined by the Bank in its sole discretion). BBIR is quoted on the Bank’s Rate Fees and Charges webpage. Excess Fee: If drawings are made to the Borrower’s account in excess of the agreed Facility Limit and the Bank decides to pay those drawings, the Bank may charge an excess fee of up to $50.00 for each day the Borrower’s account is in excess. Funding Periods (Fixed Rate Only): With respect to any tranche the Borrower may select any period that is acceptable to the Bank to be the period by reference to which the Fixed Rate applicable to that tranche is determined (“Funding Period”). The Bank may charge a fee for a Funding Period other than three, four, five or six month’s duration. If a Funding Period would otherwise overrun the Termination Date or an agreed repayment date, such Funding Period shall be shortened so that it ends on the Termination Date or agreed repayment date. Rollover At the conclusion of a Funding Period for a tranche the principal amount of that tranche will, subject to the terms of this Facility, be rolled over for a further Funding Period of the same duration at the relevant Reference Rate unless the Borrower has provided alternative instructions to the Bank no later than 12:00pm on the last day of the Funding Period. If a roll over would result in the Funding Period overrunning the Termination Date, the Funding Period shall be shortened so that it ends on the Termination Date. Tranches with an outstanding principal amount of less than $50,000 will be transferred under advice to the floating rate at the conclusion of a Funding Period. The Borrower may at any time transfer the whole or any part of any tranche in excess of $50,000 from the floating rate option to the fixed rate option, with a Funding Period acceptable to the Bank. Interest Payment Arrangements: For each tranche, interest is payable at the Interest Rate applicable to that tranche on each Interest Payment Date specified below.
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Examples of BBIR in a sentence

  • Interest Rate on Excesses and Overdue Amounts: For the purposes of Clause 8 of the General Conditions, the applicable rate of interest will be equal to the sum of BBIR from time to time plus a margin of 15.00% p.a.

  • A summary of facilities (the “Facilities”) is as follows: NZ$ New Facilities Flexible Credit Facility Term Facility Existing Facilities Commercial Credit Card Facility BBIR Overdraft Facility Total Limits 2.

  • BBIR Overdraft Facility Borrower: SCFIS Limited Purpose: To assist with working capital requirements.

  • SMOKING/TOBACCO STATUS APS ☐ ☐ ☐ NO TOBACCO ☐ NONSMOKER DR: ☐ TOBACCO ☐ SMOKER APS ☐ ☐ REMARKS DR: REFER TO INSP/PHI ☐ ☐ KEEP TOGETHER WITH ☐JOINT LIFE ☐ GROUP/BUSINESS/FAMILY NAME DATE OF BIRTH RELATIONSHIP BBIR FINANCIAL ☐ ☐ ☐ ☐ PLEASE INDICATE REASON SUBMITTED AND CODES YOUR COMPANY IS REPORTING TO MIB (460, C01) 1▇▇▇▇-▇▇-▇▇ 53 12/14/2017 The Ceding Company will place the case with the reinsurer having the first in best offer.