Canadian BA Discount Rate definition

Canadian BA Discount Rate means, on the funding date for any Canadian BA, (a) for any Lender named on Schedule I to the Bank Act (Canada), the CDOR on the applicable funding date; or, if such rate is not available, the average of the rates advised by the Canadian Schedule I Reference Lenders to the Administrative Agent, determined in accordance with normal market practices, as being the discount rate of such Canadian Schedule I Reference Lenders on such funding date for Canadian bankers’ acceptances having a comparable face amount and maturity date; and (b) for any other Lender, the lesser of (i) the average of the rates advised by the Canadian Non-Schedule I Reference Lenders to the Administrative Agent, determined in accordance with normal market practices, as being the discount rate of such Canadian Non-Schedule I Reference Lenders on such funding date for banker’s acceptances of such Canadian Non-Schedule I Reference Lenders having a comparable face amount and maturity date, and (ii) the CDOR on the applicable funding date plus 0.10% per annum.
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Canadian BA Discount Rate means, in respect of a Canadian BA being accepted by a Canadian Bank on any date, (a) for a Canadian Bank that is listed in Schedule I to the Bank Act (Canada), the average bankers' acceptance rate as quoted on Reuters CDOR page (or such other page as may, from time to time, replace such page on that service for the purpose of displaying quotations for bankers' acceptances accepted by leading Canadian financial institutions) at approximately 11:00 a.m. on such drawdown date for bankers' acceptances having a comparable maturity date as the maturity date of such Canadian BA (the "CDOR Rate"); or, if such rate is not available at or about such time, the average of the bankers' acceptance rates (expressed to five decimal places) as quoted to the Canadian Administrative Agent by the Canadian Schedule I BA Reference Banks as of 11:00 a.m. on such drawdown date for bankers' acceptances having a comparable maturity date as the maturity date of such Canadian BA; (b) for a Canadian Bank that is listed in Schedule II to the Bank Act (Canada), the rate established by the Canadian Administrative Agent to be the lesser of (i) the CDOR Rate plus 00 Xxxxx Xxxxxx; and (ii) the average of the bankers' acceptance rates (expressed to five decimal places) as quoted to the Canadian Administrative Agent by the Canadian Schedule II BA Reference Banks as of 11:00 a.m. on such drawdown date for bankers' acceptances having a comparable maturity date as the maturity date of such Canadian BA; and (c) for a Canadian Bank that is listed in Schedule III to the Bank Act (Canada), the rate established by the Canadian Administrative Agent to be the lesser of (i) the CDOR Rate plus one-tenth percent (0.1%) per annum; and (ii) the average of the bankers' acceptance rates (expressed to five decimal places) as quoted to the Canadian Administrative Agent by the Canadian Schedule III BA Reference Banks as of 11:00 a.m. on such drawdown date for bankers' acceptances having a comparable maturity date as the maturity date of such Canadian BA.
Sample 1
Canadian BA Discount Rate means, on the funding date for any Canadian Banker’s Acceptance, the average of the “BA Discount Rates” for the Canadian Reference Lenders determined by the Administrative Agent in accordance with the following procedures: (a) if a Canadian Reference Lender is named on Schedule I to the Bank Act (Canada), its BA Discount Rate shall be the CDOR Rate on the applicable funding date; and (b) if a Canadian Reference Lender is not so named, its BA Discount Rate shall be the lesser of (i) the average of the rates advised by each Canadian Reference Lender to the Administrative Agent as being the discount rate of such Canadian Reference Lender, calculated on the basis of a year of 365 days and determined in accordance with normal market practice, for banker’s acceptances of such Canadian Reference Lender having a comparable face amount and identical maturity date to the face amount and maturity date of the Canadian Banker’s Acceptance to be accepted by such Canadian Reference Lender on such funding date and (ii) the rate determined pursuant to clause (a) above plus 0.07% per annum.
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Examples of Canadian BA Discount Rate in a sentence

  • The amount of each Canadian BA Equivalent Loan shall be equal to the Canadian Discount Proceeds (with reference to the applicable Canadian BA Discount Rate applicable to such Non-BA Bank) which would be realized from a hypothetical sale of those Canadian Bankers’ Acceptances which, but for this subsection, would have been sold to such Non-BA Bank.


More Definitions of Canadian BA Discount Rate

Canadian BA Discount Rate means, with respect to any Canadian Bankers’ Acceptances or Canadian BA Equivalent Notes to be purchased by the Canadian Lenders on any Borrowing Date, (i) for each Canadian BA Lender that is a bank named in Schedule I to the Bank Act (Canada), the CDOR for bankers’ acceptances having an identical maturity date and (if shown on the CDOR page of the Reuters screen) comparable aggregate face amount to the maturity date and aggregate face amount of such Canadian Bankers’ Acceptances, (ii) for each Canadian BA Lender that is not a bank named in Schedule I to the Bank Act (Canada), the lesser of (A) the CDOR and (B) the discount rate of interest at which such Canadian BA Lender is offering as of 10:00 a.m. (Toronto time) on such Borrowing Date to purchase bankers’ acceptances accepted by it having an identical maturity date and comparable aggregate face amount to the maturity date and aggregate face amount of the applicable Canadian Bankers’ Acceptance of such Canadian BA Lender, as notified by such Lender to the Canadian Agent and (iii) for each Canadian Non-BA Lender, the lesser of (A) the CDOR and (B) the annual interest rate which is the cost to such Canadian Non-BA Lender of obtaining Canadian Dollars to fund such purchase by it, as notified by such Lender to the Canadian Agent. Canadian BA Equivalent Note — see Section 2.7.1.
Sample 1
Canadian BA Discount Rate means, with respect to any Canadian Bankers' Acceptances or Canadian BA Equivalent Notes to be purchased by the Canadian Lenders on any Borrowing Date, (i) for each Canadian BA Lender that is a bank named in Schedule I to the Bank Act (Canada), the CDOR for bankers' acceptances having an identical maturity date and (if shown on the CDOR page of the Reuters screen) comparable aggregate face amount to the maturity date and aggregate face amount of such Canadian Bankers' Acceptances, (ii) for each Canadian BA Lender that is not a bank named in Schedule I to the Bank Act (Canada), the lesser of (A) the CDOR and (B)
Sample 1
Canadian BA Discount Rate means (a) with respect to any Canadian Banker’s Acceptance accepted by a Canadian Dollar Lender named on Schedule I to the Bank Act (Canada), the rate determined by such Canadian Dollar Lender as being the CDOR Rate on the applicable funding date, and (b) with respect to any Canadian Banker’s Acceptance accepted by any other Canadian Dollar Lender, the lesser of (i) the rate advised by such Canadian Dollar Lender to the Administrative Agent as being the discount rate of such Canadian Dollar Lender, calculated on the basis of a year of 365 days and determined in accordance with normal market practice, for Canadian Banker’s Acceptances of such Canadian Dollar Lender having a comparable face amount and identical maturity date to the face amount and maturity date of such Canadian Banker’s Acceptance, and (ii) the rate determined by such Canadian Dollar Lender in accordance with (a) above plus 0.10% per annum.
Sample 1
Canadian BA Discount Rate means (a) with respect to any Canadian Banker's Acceptance accepted by a Canadian Lender named on Schedule I to the Bank Act (Canada), the rate determined by such Canadian Lender as being the CDOR Rate on the applicable funding date, and (b) with respect to any Canadian Banker's Acceptance accepted by any other Canadian Lender, the lesser of (i) the rate advised by such Canadian Lender to the Administrative Agent as being the discount rate of such Canadian Lender, calculated on the basis of a year of 365 days and determined in accordance with normal market practice, for Canadian Banker's Acceptances of such Canadian Lender having a comparable face amount and identical maturity date to the face amount and maturity date of such Canadian Banker's Acceptance, and (ii) the rate determined by such Canadian Lender in accordance with (a) above plus 0.10% per annum.
Sample 1

Related to Canadian BA Discount Rate

  • BA Discount Rate means:

  • Discount Rate means the rate used by the Plan Administrator for determining the Accrual Balance. The initial Discount Rate is six percent (6%). However, the Plan Administrator, in its discretion, may adjust the Discount Rate to maintain the rate within reasonable standards according to GAAP and/or applicable bank regulatory guidance.

  • Canadian Base Rate means the rate determined by the Agent as the higher of (i) the annual rate of interest announced by the Agent (or any of its branches) as being its “prime rate” for determining interest rates on Canadian Dollar-denominated commercial loans made by it in Canada and (ii) the BA Rate (after giving effect to any minimum rate set forth in the definition thereof) for a one month BA Interest Period commencing on such day (or, if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.

  • BA Discount Proceeds means, in respect of any Bankers' Acceptance, an amount calculated on the applicable Drawdown Date which is (rounded to the nearest full cent, with one-half of one cent being rounded up) equal to the face amount of such Bankers' Acceptance multiplied by the price, where the price is calculated by dividing one by the sum of one plus the product of (i) the BA Discount Rate applicable thereto expressed as a decimal fraction multiplied by (ii) a fraction, the numerator of which is the term of such Bankers' Acceptance and the denominator of which is 365, which calculated price will be rounded to the nearest multiple of 0.001%.

  • Discount Loan The Loans having Pass-Through Rates of less than 6.75%.

  • Discount Percentage shall have the meaning specified in Section 2.11.

  • Canadian Dollar means the lawful currency of Canada.

  • Alternative Currency Daily Rate means, for any day, with respect to any Credit Extension:

  • Specified Discount Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(B)(1).

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Prepayment Rate means the bond equivalent yield (in the secondary market) on the United States Treasury Security that as of the Prepayment Rate Determination Date has a remaining term to maturity closest to, but not exceeding, the remaining term to the Maturity Date, as most recently published in the "Treasury Bonds, Notes and Bills" section in The Wall Street Journal as of the date of the related tender of the payment. If more than one issue of United States Treasury Securities has the remaining term to the Maturity Date referred to above, the "Prepayment Rate" shall be the yield on the United States Treasury Security most recently issued as of such date. If the publication of the Prepayment Rate in The Wall Street Journal is discontinued, Lender shall determine the Prepayment Rate on the basis of "Statistical Release H.15(519), Selected Interest Rates," or any successor publication, published by the Board of Governors of the Federal Reserve System, or on the basis of such other publication or statistical guide as Lender may reasonably select. "PREPAYMENT RATE DETERMINATION DATE" shall mean the date which is five (5) Business Days prior to the prepayment date.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • BA Rate means, for the Interest Period of each BA Equivalent Loan, the rate of interest per annum equal to the annual rates applicable to CD$ bankers’ acceptances having an identical or comparable term as the proposed BA Equivalent Loan displayed and identified as such on the display referred to as the “CDOR Page” (or any display substituted therefor) of Xxxxxx Monitor Money Rates Service as at approximately 10:00 A.M. (Toronto time) on such day (or, if such day is not a Business Day, as of 10:00 A.M. (Toronto time) on the immediately preceding Business Day), plus five (5) basis points; provided that if such rates do not appear on the CDOR Page at such time on such date, the rate for such date will be the annual discount rate (rounded upward to the nearest whole multiple of 1/100 of 1%) as of 10:00 A.M. on such day at which a Canadian chartered bank listed on Schedule 1 of the Bank Act (Canada) as selected by the Canadian Agent is then offering to purchase CD$ bankers’ acceptances accepted by it having such specified term (or a term as closely as possible comparable to such specified term), plus five (5) basis points.

  • Discount Range Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(C)(1).

  • Money Market LIBOR Loan means a loan to be made by a Bank pursuant to a LIBOR Auction (including such a loan bearing interest at the Base Rate pursuant to Section 8.01(a)).

  • Canadian Dollar Equivalent of any amount which is expressed in United States Dollars means, on any date, the Canadian dollar equivalent of such amount determined by multiplying such amount by the U.S. - Canadian Exchange Rate in effect on such date;

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • Specified Discount Proration has the meaning set forth in Section 2.05(a)(v)(B)(3).

  • Canadian Base Rate Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Canadian Base Rate in accordance with the provisions of Article II.

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • 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.

  • Money Market Absolute Rate has the meaning set forth in Section 2.03(d).

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Applicable Discount has the meaning set forth in Section 2.05(a)(v)(C)(2).