BBSW Rate definition
BBSW Rate means, for an Interest Period, the rate for prime bank eligible securities having a tenor closest to the Interest Period which is designated as the “AVG MID” on the “Refinitiv Screen ASX29 Page” or the “MID” rate on the “Bloomberg Screen BBSW Page” (or any designation which replaces that designation on the applicable page, or any replacement page) at the Publication Time on the first day of that Interest Period;
BBSW Rate means BBSW for the Relevant Period which is calculated in accordance with Condition 4(c)(i) to (iii);
BBSW Rate means, for an Interest Accrual Period, the Australian Bank Bill Swap Reference Rate administered by ASX Benchmarks Pty Limited (or any other person which takes over the administration of that rate) for a period equal to the Interest Period displayed on the Refinitiv Screen BBSW Page (or any replacement page which displays that rate) at approximately 10:30 am Sydney time (or such other time at which such rate customarily appears on that page, including, if corrected, as recalculated and republished by the relevant administrator) (“Publication Time”) on the first day of that Interest Accrual Period. However, if such rate does not appear on the Refinitiv Screen BBSW Page (or any replacement page) by 10:45 am Sydney time on that day (or such other time that is 15 minutes after the then prevailing Publication Time), or if the Issuer determines that (i) (in consultation with the Calculation Agent) there is an obvious error in that rate or (ii) the rate is permanently or indefinitely discontinued or
Examples of BBSW Rate in a sentence
If the rate is not published prior to 10:30 a.m., Sydney time, on the Interest Determination Date, or if it is displayed but the Calculation Agent determines that there is a manifest error in that rate, then the BBSW Rate will be the rate determined by the Calculation Agent having regard to comparable indices then available.
If BBSW Rate Determination is specified in the Final Terms as the manner in which the Interest Rate is to be determined, the Interest Rate applicable to the Floating Rate PD Debt Instruments for each Interest Period is the sum of the Margin (if any) and the BBSW Rate.
In addition, the I&P Agent shall be obliged to concur with the Issuer in effecting any BBSW Rate Amendments in the circumstances and as otherwise set out in Condition 5.3(b)(i)(C) without the consent of the PR Debt Instrument Holders and the reference in Condition 16.1 to meetings of the PR Debt Instrument Holders shall not apply to BBSW Rate Amendments made pursuant to Condition 5.3(b)(i)(C), which, in each case, shall be made without PR Debt Instrument Holders consent as specified therein.
In this Condition, BBSW Rate means, for an Interest Period, the rate (expressed as a percentage per annum) for prime bank eligible securities having a tenor closest to the Interest Period which is designated as the “AVG MID” on the Reuters Screen BBSW page at approximately 10.10 am on the first day of that Interest Period.
Subject to the provisions in Condition 4(b) above, if the Issuer determines that a Benchmark Event has occurred in relation to an Original Reference Rate when any Rate of Interest (or any component part thereof) remains to be determined by reference to that Original Reference Rate, then the following provisions of this Condition 4(c) shall apply with the exception of SOFR, SARON, AONIA Rate, BBSW Rate or ▇▇▇▇▇.
More Definitions of BBSW Rate
BBSW Rate means, with respect to any Loan denominated in Australian Dollars, the applicable rate shown on the display “BBSW Page” (or any display substituted therefor) published by Bloomberg (or if such service is no longer available or widely used in the market, the applicable screen page published by Reuters or another commercially available source providing quotations of such rate as selected by Administrative Agent in its reasonable discretion from time to time) as of 10:00 a.m. (Sydney, Australia time) two (2) Business Days prior to the commencement of the related Interest Period and for a period comparable to the applicable Interest Period of the requested Loan.
BBSW Rate means, with respect to any Collection Period, the greater of (a) 0 and (b) the average rate per annum (rounded upward, if necessary, to the nearest 1/100 of 1%) applicable to bankers’ acceptances for a term equivalent to the Collection Period appearing on the Bloomberg Professional Service (or any successor thereto) Bank ▇▇▇▇ ▇▇▇▇ Reference Bid Rate as of 10:00 a.m. (Sydney, Australia time), on the first day of such Collection Period, or if such date is not a Business Day, then on the immediately preceding Business Day; provided, however, if such rate does not appear on the Bloomberg Professional Service (or any successor thereto) Bank ▇▇▇▇ ▇▇▇▇ Reference Bid Rate as contemplated, then the BBSW Rate on any date shall be calculated as the arithmetic mean of the rates of interest quoted as of 10:00 a.m. (Sydney, Australia time) on such day by the Facility Agent on the basis of the discount amount at which the Facility Agent is then offering to purchase AUD denominated bankers’ acceptances that have a comparable aggregate face amount to the Advances outstanding in AUD and the same term to maturity as such Collection Period, or if such date is not a Business Day, then on the immediately preceding Business Day.
BBSW Rate has the meaning provided in the definition of “Eurocurrency Rate.” USActive 58236919.3 -3-
BBSW Rate means, with respect to any Accrual Period, the greater of (a) 0.0% and (b) the average rate per annum (rounded upward, if necessary, to the nearest 1/100 of 1%) applicable to bankers’ acceptances for a term equivalent to the Accrual Period appearing on the Bloomberg Professional Service (or any successor thereto) Bank ▇▇▇▇ ▇▇▇▇ Reference Bid Rate as of 10:00 a.m. (Sydney, Australia time), on the first day of such Accrual Period, or if such date is not a Business Day, then on the immediately preceding Business Day; provided, however, if such rate does not appear on the Bloomberg Professional Service (or any successor thereto) Bank ▇▇▇▇ ▇▇▇▇ Reference Bid Rate as contemplated, then the BBSW Rate on any date shall be calculated as the arithmetic mean of the rates of interest quoted as of 10:00 a.m. (Sydney, Australia time) on such day by the Facility Agent on the basis of the discount amount at which the Facility Agent is then offering to purchase AUD denominated bankers’ acceptances that have a comparable aggregate face amount to the Advances outstanding in AUD and the same term to maturity as such Accrual Period, or if such date is not a Business Day, then on the immediately preceding Business Day.
BBSW Rate means, for an Interest Accrual Period, the rate for prime bank eligible securities having a tenor closest to the Interest Accrual Period which is designated as the “AVG MID” on the Refinitiv Screen ASX29 Page or the “MID” rate on the Bloomberg
BBSW Rate means, for an Interest Period, the rate for prime bank eligible securities having a tenor closest to the Interest Period which is designated as the “AVG MID” on the Bloomberg or Refinitiv Screen BBSW Page (or any designation which replaces that designation on that page, or any replacement page) at approximately 10:30am (or such other time at which such rate customarily appears on that page, including, if corrected, as recalculated and republished by the relevant administrator) (“Publication Time”) on the first day of that Interest Period. However, if such rate does not appear on the Bloomberg or Refinitiv Screen BBSW Page (or, in each case, any replacement page) by 10:45am on that day (or such other time that is 15 minutes after the then prevailing Publication Time), or if it does appear but (i) the Calculation Agent (in consultation with the Issuer) determines that there is an obvious error in that rate or (ii) the rate is permanently or indefinitely discontinued or (iii) the relevant administrator makes a public statement that the rate has been or will be permanently or indefinitely discontinued or that the publication of the rate has or will cease or (iv) it has or will become unlawful for the Issuer or the Calculation Agent to use the rate, BBSW Rate” means such other successor rate or alternative rate for BBSW Rate-linked floating rate notes at such time determined by an alternate financial institution appointed by the
BBSW Rate means, with respect to any AccrualCollection Period, the greater of (a) 0 and (b) the average rate per annum (rounded upward, if necessary, to the nearest 1/100 of 1%) applicable to bankers’ acceptances for a term equivalent to the AccrualCollection Period appearing on the Bloomberg Professional Service (or any successor thereto) Bank ▇▇▇▇ Swap Reference Bid Rate as of 10:00 a.m. (Sydney, Australia time), on the first day of such AccrualCollection Period, or if such date is not a Business Day, then on the immediately preceding Business Day; provided, however, if such rate does not appear on the Bloomberg Professional Service (or any successor thereto) Bank ▇▇▇▇ Swap Reference Bid Rate as contemplated, then the BBSW Rate on any date shall be calculated as the arithmetic mean of the rates of interest quoted as of 10:00 a.m. (Sydney, Australia time) on such day by the Facility Agent on the basis of the discount amount at which the Facility Agent is then offering to purchase AUD denominated bankers’ acceptances that have a comparable aggregate face amount to the Advances outstanding in AUD and the same term to maturity as such AccrualCollection Period, or if such date is not a Business Day, then on the immediately preceding Business Day.