British Bankers definition

British Bankers. Association Interest Settlement Rates" for deposits in Dollars on any information vending service as may be from time to time be nominated by the British Bankers' Association for the purpose of displaying such rate (currently displayed on the Reuters Service at screen "LIBOR", the Bloomberg Service at page "BBAM 1" and the Telerate Service at page "3750") at or about 11:00 a.m. London time (or as soon thereafter as practicable) on the date that is two (2) LIBOR Business Days prior to the first day of such interest Period by (ii) 1 minus the Reserve Requirement for such interest Period, and rounding the quotient upward to the nearest 1/16 of 1%. In the event that such rate is unavailable, the LIBOR Rate shall be determined on such basis as Administrative Agent shall reasonably select, following consultation with the Lenders. Administrative Agent's determination of such rate shall be conclusive and binding on Borrower absent manifest error.
Sample 1
British Bankers. Association Interest Settlement Rates" on Xxxxxx'x for the purpose of displaying such rate. In the event that such rate is not available on Xxxxxx'x then such offered rate shall be otherwise independently determined by Agent from an alternate, substantially similar independent source available to Agent or shall be calculated by Agent by substantially similar methodology as that theretofore used to determine such offered rate.
Sample 1
British Bankers. Association Interest Settlement Rates" for deposits in Deutsche Marks (as set forth by any service 146 selected by the Administrative Agent which has been nominated by the British Bankers' Association as an authorized information vendor for the purpose of displaying such rates) for a period equal to such Interest Period (rounded, if necessary, upward to the nearest whole multiple of 1/16th of 1%); provided that, to the extent that an interest rate is not ascertainable pursuant to the foregoing provisions of this definition, the "Deutsche Mark Xxxo Rate" shall be the interest rate per annum determined by the Administrative Agent to be the rate (rounded, if necessary, upward to the nearest whole multiple of 1/16th of 1% per annum, if such average is not such a multiple) per annum at which deposits in Deutsche Marks are offered for such relevant Interest Period to major banks in the London interbank market in London, England by CSFB at approximately 11:00 a.m. (London time) on the date which is two Business Days prior to the beginning of such Interest Period. Notwithstanding anything to the contrary contained above, in the event the Administrative Agent has made any determination pursuant to Section 1.10(a)(i) in respect of Deutsche Mark Xxxns, or in the circumstances described in clause (i) to the proviso to Section 1.10(b) in respect to Deutsch Mark Xxxns, the Deutsche Mark Xxxo Rate determined pursuant to this definition shall instead be the rate determined by CSFB as the all-in-cost of funds for CSFB to fund a Deutsche Mark Xxxn with maturities comparable to the Interest Period applicable thereto.
Sample 1

Examples of British Bankers in a sentence

  • On each Rate Determination Date for a Class of LIBOR Certificates, the Trustee shall determine LIBOR for the applicable Distribution Date on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. Dollars as found on Telerate page 3750 as of 11:00 A.M. London time on such Rate Determination Date.

  • Concerns have been raised by a number of regulators that some of the member banks surveyed by the British Bankers' Association (the "BBA") in connection with the calculation of the London interbank offered rate ("LIBOR") across a range of maturities and currencies may have been manipulating the inter-bank lending rate.

  • If the Telerate Page 3750 is replaced by another service or ceases to exist, the Calculation Agent will use the replacing service or such other service that may be nominated by the British Bankers' Association for the purpose of displaying London interbank offered rates for U.S. dollar deposits.

  • The LIBOR panel is surveyed each morning (11:00 a.m. local time) by the British Bankers Association about the rate at which it could borrow funds were it to do so by asking for and then accepting inter-bank offers in reasonable market size just prior to 11:00 a.m. Contributor panels comprise at least eight banks, and are intended to broadly reflect the balance of activity in the inter–bank deposit market.

  • On each Rate Determination Date for a Class of LIBOR Certificates, the Securities Administrator shall determine LIBOR for the applicable Distribution Date on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. Dollars as found on Telerate page 3750 as of 11:00 A.M. London time on such Rate Determination Date.

  • ERC is funded by the Economic and Social Research Council (ESRC); the Department for Business, Innovation & Skills (BIS); the Technology Strategy Board (TSB); and, through the British Bankers Association (BBA), by the Royal Bank of Scotland PLC; Bank of Scotland; HSBC Bank PLC; Barclays Bank PLC and Lloyds TSB Bank PLC.

  • In addition, the CS group is an active participant in a number of key industry and other professional market forums including International Swaps and Derivatives Association ("ISDA"), Association for Financial Markets in Europe ("AFME") and British Bankers' Association ("BBA") which inter alia focus on improving levels of market and product standardisation, legal definition and protocol.

  • LIBOR loans bear interest at the British Bankers Association LIBOR Rate plus 100 to 150 basis points based on availability, and loans not converted to LIBOR loans bear interest at a fluctuating rate equal to the greatest of the agent’s prime rate, the federal funds rate plus 50 basis points, or 30-day LIBOR plus 150 basis points.

  • If the Reuters Screen LIBOR01 is replaced by another service or ceases to exist, the Calculation Agent will use the replacing service or such other service that may be nominated by the British Bankers' Association for the purpose of displaying London interbank offered rates for U.S. dollar deposits.

  • Amounts not paid when due will be subject to an interest charge of the lesser of: (i) the three-month US dollar London Inter-Bank Offer Rate (LIBOR) (fixed by the British Bankers Association on the payment due date) plus eight (8) percentage points per annum, calculated daily; (ii) the highest rate permitted by law.


More Definitions of British Bankers

British Bankers. Association as an authorized information vendor for the purpose of displaying such rates) for a period equal to such Interest Period; provided that, to the extent that an interest rate is not ascertainable pursuant to the foregoing provisions of this definition the "LIBO Rate" shall be the interest rate per annum determined by Administrative Agent to be the average of the rates per annum at which deposits in Dollars are offered for such Interest Period to major banks in the London interbank market in London, England by Administrative Agent at approximately 11:00 a.m. (London time) on the date which is two Business Days prior to the beginning of such Interest Period. +Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.
Sample 1

Related to British Bankers

  • Investment Banker means, with respect to an issue of Bonds, an underwriter, placement agent or structuring agent who is under contract with the Corporation and whose primary purpose is to either:

  • Mortgage banker means a person who does one or more of the following:

  • Telerate British Bankers Assoc. Interest Settlement Rates Page means the display designated as Page 3750 on the Telerate System Incorporated Service (or such other page as may replace such page on such service for the purpose of displaying the rates at which dollar deposits are offered by leading banks in the London interbank deposit market).

  • Bankers has the meaning assigned to that term in the introduction to this Agreement.

  • Eurozone means the countries and territories listed in the Annex of Council Regulation (EC) No. 974/98 of 3 May 1998 on the introduction of the Euro, in its current version.

  • Independent Investment Banker means one of the Reference Treasury Dealers appointed by the Company.

  • Prime As of any date of determination, the annual interest rate, adjusted daily, published from time to time in The Wall Street Journal (Western Edition) as the “PRIME RATE” in the “MONEY RATES” section.

  • British Pounds Sterling means the lawful currency of Great Britain.

  • Relevant Banking Day means a day on which commercial banks are open for general business (including dealings in foreign exchange and foreign currency deposits) in the place where the specified office of the Registrar is located and, in the case only of an exchange of a Bearer Covered Bond for a Registered Covered Bond, where such request for exchange is made to the Issuing and Paying Agent, in the place where the specified office of the Issuing and Paying Agent is located;

  • London Inter-Bank Offered Rate means the interest rate at which the Bank's London Branch, London, Great Britain, would offer U.S. dollar deposits for the applicable interest period to other major banks in the London inter-bank market at approximately 11:00 a.m. London time two (2) London Banking Days before the commencement of the interest period. A "London Banking Day" is a day on which the Bank's London Branch is open for business and dealing in offshore dollars.

  • Hong Kong means the Hong Kong Special Administrative Region of the People’s Republic of China.

  • Interbank Offered Rate means, for any Eurodollar Loan for any Interest Period therefor, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) appearing on Reuters Screen LIBO Page as the London interbank offered rate for deposits in Dollars at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period; provided, however, if more than one rate is specified on Reuters Screen LIBO Page, the applicable rate shall be the arithmetic mean of all such rates (rounded upwards, if necessary, to the nearest 1/100 of 1%).

  • Canadian Dollar means the lawful currency of Canada.

  • London Interbank Offered Rate has the meaning set forth in Section 2.07(b).

  • Hong Kong Dollar means the lawful currency of Hong Kong.

  • STIBOR means the Stockholm inter-bank offered rate.

  • CIBOR means the Copenhagen interbank offered rate;

  • Central Bank Rate has the meaning given to that term in the Reference Rate Terms.

  • LIBOR Banking Day has the meaning set forth in Section 2.10(b)(1).

  • Quotation Agent means one of the Reference Treasury Dealers appointed by the Company.

  • Adjusted London Interbank Offered Rate applicable to any Interest Period means a rate per annum equal to the quotient obtained (rounded upward, if necessary, to the next higher 1/100 of 1%) by dividing (i) the applicable London Interbank Offered Rate by (ii) 1.00 minus the Euro-Dollar Reserve Percentage.

  • Renminbi Dealer means an independent foreign exchange dealer of international repute active in the Renminbi exchange market in Hong Kong reasonably selected by the Issuer.

  • London Banking Day means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

  • BBA means the British Bankers’ Association.

  • Reference Bond Dealer means each of five banks which are primary government securities dealers or market makers in pricing corporate bond issuances, as selected by the Calculation Agent in its discretion after consultation with the Issuer;