BKBM definition

BKBM means the interest rate benchmark known as the Bank Bill Market rate.

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BKBM means the New Zealand Bank Bill reference rate. “Business Day” means

BKBM shall have the meaning provided in clause (d) of the definition of “Alternative Currency Term Rate.”

Examples of BKBM in a sentence

• The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Alternate Base Rate, the Daily Simple RFR, Term SOFR, the CDO Rate, the Adjusted EURIBO Rate, the AUD Rate, the ▇▇▇▇▇ ▇▇▇▇, the ▇▇▇▇▇▇ Rate, the BKBM Rate, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower.

• These amendments aim to ensure that New Zealand's regulatory regime for financial benchmarks (including BKBM) meets the equivalence requirements for the purposes of the Benchmarks Regulation.

• The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Alternate Base Rate, the Daily Simple RFR, Daily Compounded ▇▇▇▇▇, Term SOFR, the CDO RateTerm ▇▇▇▇▇, the Adjusted EURIBO Rate, the AUD Rate, the ▇▇▇▇▇ ▇▇▇▇, the ▇▇▇▇▇▇ Rate, the BKBM Rate, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower.

• The London Inter-Bank Offered Rate ("LIBOR"), the Euro Interbank Offered Rate ("EURIBOR") and other benchmark indices (such as the Australian Bank ▇▇▇▇ Swap Rate ("BBSW") and the New Zealand Bank ▇▇▇▇ reference rate ("BKBM"), are the subject of recent national, international and other regulatory guidance and proposals for reform.

• The Default Interest rate will be 2 percentage points per annum above the average New Zealand dollar 90 day bank ▇▇▇▇ rate (rounded up to the nearest second decimal place) as appearing at 11:00 or as soon as practicable after that time on the relevant day on page BKBM of the Reuters screen (or its successor or equivalent page), and will be calculated on a daily basis.

More Definitions of BKBM

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

BKBM means the New Zealand Bank Bill reference rate (FRA).

BKBM has the meaning assigned thereto in the definition of “Eurodollar Rate”.

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 means, for any date of determination, with respect to any NZ Advance (or portion thereof), the rate per annum equal to the rate determined by the Administrative Agent to be rate that appears on the Reuters Screen BKBM Page (or any applicable successor or substitute page providing rate quotations comparable to those currently provided on such page of such service) opposite the caption “BID”, at approximately 11:00 a.m., Wellington time, two (2) Business Days prior to the beginning of such Interest Accrual Period for New Zealand Dollar bills of exchange with a term equivalent to three months; provided that if such rate is not available at any such time for any reason, “BKBM” with respect to any NZ Advance shall be the bid and offer rates for New Zealand dollar bills of exchange of NZ 5,000,000 with a maturity equal to the related Interest Accrual Period quoted by the principal New Zealand office of any bank (which may be the Administrative Agent) reasonably selected by the Administrative Agent for settlement at

BKBM means, for any date of determination, with respect to any NZ Advance (or portion thereof), the rate per annum equal to the rate determined by the Administrative Agent to be rate that appears on the Reuters Screen BKBM Page (or any applicable successor or substitute page providing rate quotations comparable to those currently provided on such page of such service) opposite the caption “BID”, at approximately 11:00 a.m., Wellington time, two (2) Business Days prior to the beginning of such Collection Period for New Zealand Dollar bills of exchange with a term equivalent to three months; provided that if such rate is not available at any such time for any reason, “BKBM” with respect to any NZ Advance shall be the bid and offer rates for New Zealand dollar bills of exchange of NZ 5,000,000 with a three-month maturity quoted by the principal New Zealand office of any bank (which may be the Administrative Agent) reasonably selected by the Administrative Agent for settlement at approximately 11:00 a.m. (Wellington time) on the applicable day (or, if such day is not a Business Day, on the immediately preceding Business Day); provided, further that, in the event that the rate as so determined above shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. BKBM shall always be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.

BKBM means, with respect to any LIBOR Rate Loan denominated in New Zealand Dollars, the rate per annum equal to the Bank ▇▇▇▇ 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).