Canadian ABR definition

Canadian ABR means, on any day, the rate determined by the Administrative Agent to be the higher of (i) the rate equal to the PRIMCAN Index rate that appears on the Bloomberg screen at 10:15 a.m. Toronto time on such day and (ii) the average rate for 30 day Canadian dollar-denominated bankers’ acceptances displayed and identified as such on the “Reuters Screen CDOR Page” as of 10:15 a.m. Toronto local time on such day, plus 1% per annum; provided, that if any the above rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.
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Canadian ABR for any day, a rate per annum equal to the higher of (a) the rate of interest per annum publicly announced from time to time by the Canadian Administrative Agent as its reference rate of interest then in effect for determining interest rates on commercial loans denominated in US Dollars made by it in Canada and (b) the Federal Funds Effective Rate in effect on such day plus 0.5%.
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Canadian ABR means, for any day, the floating rate per annum equal to the higher of (a) the rate of interest per annum publicly announced from time to time by the Canadian Administrative Agent as its reference rate of interest then in effect for determining interest rates on commercial loans denominated in US Dollars made by it in Canada to Canadian borrowers and (b) the Federal Funds Effective Rate from time to time plus 0.5%. When used in reference to any Loan or Borrowing, “Canadian ABR” refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Canadian ABR.
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Examples of Canadian ABR in a sentence

  • If no election as to the Interest Rate Type is specified in any such notice for Loans denominated in Dollars, then the requested Loan shall be a Canadian ABR Loan.

  • Such notice shall be irrevocable and shall in each case specify (A) whether the Loan then being requested is to be a Canadian B/A, a Canadian Prime Rate Loan, a Canadian ABR Loan or a LIBOR Loan, (B) the date of such Loan (which shall be a Working Day) and the amount thereof, (C) the Currency with respect thereto, (D) if such Loan is to be a Canadian B/A, the Contract Period with respect thereto and (E) if such Loan is to be a LIBOR Loan, the Interest Period with respect thereto.

  • Each Canadian Revolving Loan denominated in Dollars shall be a LIBOR Loan or a Canadian ABR Loan.

  • The applicable Borrower may elect from time to time to convert ABR Loans (other than Swing Line Loans, US Protective Advances and US Overadvances), Canadian ABR Loans (other than Canadian Protective Advances and Canadian Overadvances), as the case may be, to LIBOR Loans by giving the applicable Administrative Agent at least three Eurodollar Business Days' prior irrevocable written notice of such election pursuant to a Continuation Notice.

  • Each Canadian ABR Borrowing shall be in an aggregate amount that is an integral multiple of US$100,000 and not less than US$500,000.

  • Each Loan maintained as a Canadian ABR Loan shall bear interest at a rate per annum equal to the Canadian Base Rate plus the Applicable Margin.

  • Subject to Section 2.15, each Borrowing of US$ Canadian Revolving Loans shall be comprised entirely of Canadian ABR Loans or Eurodollar Loans as the Canadian Borrower may request in accordance herewith; provided that any such Borrowings made on the Effective Date must be made as Canadian ABR Borrowings but may be converted into Eurodollar Borrowings in accordance with Section 2.09.

  • All ABR Loans and Canadian ABR Loans shall be in an aggregate amount of at least US$500,000.

  • The applicable Alternate Base Rate, Canadian ABR, Canadian Prime Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the US Administrative Agent or Canadian Administrative Agent, as applicable, and such determination shall be conclusive absent manifest error.