BKBM has the meaning assigned to such term in clause (e) of the definition of “Term Benchmark Rate”.
Examples of BKBM in a sentence
Interest is calculated as the 1-month BKBM floating base rate, plus a margin.Winton anticipates that it will use part of the proceeds raised under the Offer to repay the MMLIC facility in full on or before 30 June 2022.
The interest rate is based on BKBM (bankbill bid settlement) rate plus a margin payable on funds drawn.
More Definitions of BKBM
BKBM means the New Zealand bank bill benchmark rate, or a comparable successor rate that is approved by the Agent, administered by New Zealand Benchmark Facility Limited and displayed on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Agent from time to time), at or about 10:45 a.m. (New Zealand time), on the Rate Determination Date with a term equivalent to the applicable Interest Period. In no event shall the BKBM be less than zero for purposes of this Agreement.
BKBM as used herein shall mean, with respect to an Interest Period (in the following order of priority):
BKBM has the meaning given to it in the NZ Facility Agreement;
BKBM means, with respect to any LIBOR Rate Loan denominated in New Zealand Dollars, the rate per annum equal to the Bank Xxxx Benchmark Rate, or a comparable or successor rate that is approved by the Administrative Agent, as published on the applicable Reuters 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 11:00 a.m. (Auckland, New Zealand 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 LIBOR Rate Loan and, if any such rate is less than zero (0), BKBM will be deemed to be zero (0).
BKBM means, with respect to any Interest Period, the rate per annum equal to the Bank Bill Reference Bid Rate, as published on the applicable Reuters 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 applicable Rate Determination Date for such Interest Period with a term equivalent to such Interest Period; provided, that, if, at any time, BKBM is less than zero percent (0.00%), then BKBM shall be deemed to equal zero percent (0.00%) for all purposes of this Agreement and the other Loan Documents.