BBSY definition

BBSY has the meaning specified in the definition of Eurocurrency Base Rate.

BBSY has the meaning specified in the definition of “Alternative Currency Term Rate”.

BBSY has the meaning assigned to such term in clause (d) of the definition of “Term Benchmark Rate”.

Examples of BBSY in a sentence

• If on any date, the aggregate Australian Revolving Credit Exposure exceeds the Total Australian Revolving Commitment, then within two Business Days following such date, the Australian Borrower shall repay or prepay Australian Revolving Borrowings (or defease BBSY Rate Borrowings as described in Section 2.11(a)) and/or replace or cash collateralize outstanding Australian Letters of Credit in an amount sufficient to eliminate such excess.

• Such deposited cash collateral shall be assigned to the Applicable Administrative Agent as security for the obligations of the Parent Borrower in relation to such BBSY Rate Loan and the Lien of the Applicable Administrative Agent thereby created therein shall rank in priority to all other Liens and adverse claims against deposited cash collateral.

More Definitions of BBSY

BBSY as set forth in the definition of Eurocurrency Rate.

BBSY with respect to Australian Dollars for any Interest Period (i) the rate of interest per annum equal to the per annum rate of interest which appears as “BID” on the page designated as “BBSY” on the Reuters Monitor System (or such other comparable page as may, in the reasonable opinion of the Administrative Agent and in consultation with the Borrower, replace such BBSY page on such system for the purpose of displaying the bank bill swap rates) with maturities comparable to such Interest Period at approximately 10:30 am (Sydney, Australia time) on the first day of such Interest Period or (ii) if such rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent as the average of the buying rates quoted to the Administrative Agent at or around 10:30 am (Sydney, Australia time) on the first day of such Interest Period for bills of exchange accepted by leading Australian banks which have a tenor equal to such Interest Period. If any Interest Period is an Impacted Interest Period, then BBSY shall be the Interpolated Rate for such Interest Period. BBSY shall not be less than zero.

BBSY has the meaning specified in the definition of “Australian BBSR Rate”.

BBSY means the rate expressed as a percentage to be the arithmetic mean (rounded upwards, if necessary, to the nearest four decimal places) as supplied to the Facility Agent at its request quoted by at least two reference banks that are leading banks as the rate at which it is offered deposits in Australian Dollars and for the required period in the Australian interbank market at or about 11:00 a.m., Sydney time.

BBSY as defined in the definition of “Eurocurrency Base Rate” in this Section 1.1.

BBSY means the rate expressed as a percentage per annum:

BBSY means, with respect to any Australian Dollar Loan for any Interest Period, the rate per annum for deposits in Australian Dollars for a period equal to or that most closely approximates the duration of such Interest Period which appears on Reuters screen BBSY (or such other page(s) as may replace that page as determined by the Facility Agent in consultation with the Administrative Borrower) as of 10:15 a.m., Sydney time on the relevant Quotation Day; provided that if such rate does not appear on that page, “BBSY” shall mean the rate expressed as a percentage to be the arithmetic mean (rounded upwards, if necessary, to the nearest four decimal places) as supplied to the Facility Agent at its request quoted by at least two Reference Banks that are leading banks as the rate at which it is offered deposits in Australian Dollars and for the required period in the Australian interbank market at or about 11:00 a.m., Sydney time.