CDI Rate definition

CDI Rate means the Brazilian interbank deposit (Certificado de Depósito Interbancário) rate, which is an average of interbank overnight rates in Brazil, the average rate of 2022 was 12.38% (2021 – 4.42%).

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CDI Rate means the Brazilian interbank deposit (Certificado de Depósito Interbancário) rate, which is an average of interbank overnight rates in Brazil.

CDI Rate shall have the meaning ascribed to it in the SPA.

Examples of CDI Rate in a sentence

Amounts of Payment in Installments will be monetarily restated based on the CDI Rate calculated as of the Closing Date and until the date on which they are actually paid to Sellers or used by Buyer to offset Losses, as allowed by this Agreement.
The Collateral Funds will be monetarily restated based on the CDI Rate calculated as of the Closing Date and until the date on which they are actually paid to Sellers (if applicable) or used by the Buyer for offsetting Losses or reduction of Acquisition Price as a loss of Medical School Places, as allowed herein.
In case of default by the relevant Party of its obligations with respect to any payments due as provided for in this Agreement, the amount owed and unpaid shall be subject to indexation in accordance with the variation of the CDI Rate, calculated pro rata die, from the date on which the amount became due and payable to the date on which the amount is actually paid plus a non-compensatory late-payment fine of five (5%) of the amount owed.
For clarification purposes, an example for the calculation of the applicable accumulated CDI Rate and accumulated IPCA Rate is set out in Exhibit 2.1.2 hereto.
Without derogating from the provisions in Clause 11.6 above, the Sellers will only be called to make the payment of the indemnity for Losses: (i) whenever the aggregated amount of Indemnifiable Losses by the Sellers reaches or exceeds R$ 500,000.00 (five hundred thousand reais), adjusted by the CDI Rate in each anniversary of the Closing Date (“Basket”); or (ii) in each anniversary of the Closing Date, whichever occurs first.

More Definitions of CDI Rate

CDI Rate means the daily average rate of the DI – Depósitos Interfinanceiros of one day, “over extra-grupo”, expressed in the form of percentage per annum, basis 252 business days, calculated and published daily by the CETIP S.A. – Mercados Organizados, at the website ▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇.▇▇.

CDI Rate means, with respect to the adjustment of any amount on any applicable date of determination, the percentage that corresponds to the accumulated variation of the Brazilian interbank rate for 1-day certificate of deposits (CDI) as calculated and disclosed by CETIP (Balcão Organizado de Ativos e Derivativos) during any given period as specified herein; it being understood that such calculation shall be that disclosed by CETIP at its url location (currently h▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇.▇▇/) or such other successor page or service as determined in good faith by Cosan and Shell for the purpose of performing accumulated calculations of CDI rates for such periods;

CDI Rate means, in respect of a Brazil Business Day, the Brazil Interbank Deposit Rate Annualized, known as the average of the DI-OVER-Extra-Grupo as published by the Central de Custodia e Liquidacão Financeira de Títulos (“CETIP”), on the immediately preceding Brazil Business Day (the “Overnight CDI Rate”). If for any reason there is no Overnight CDI Rate published by CETIP with respect to a Brazil Business Day, then the CDI Rate for such Brazil Business Day shall be determined in accordance with the rules of the Bolsa de Mercadorias & Futuros (“BM&F”). If for any reason the CDI Rate for such Brazil Business Day cannot be determined through the BM&F, then the CDI Rate for such Brazil Business Day shall be jointly determined by the parties. If the parties are unable to agree on a determination within one Brazil Business Day, then the CDI Rate in respect of the relevant Brazil Business Day shall be determined by the Calculation Agent.

CDI Rate means the average annual rate, based on a year of two hundred fifty- two (252) days, of transactions with Certificado de Depósito Interbancário – CDI (Interbank Deposit Certificate), with term equal to one (1) Business Day (over), calculated and published by B3, with the daily factor rounded in the eighth decimal place, or in the case of its extinction, an equivalent rate replacing it, applied at all times on a pro rata basis.

CDI Rate means the average rates related to transactions with Interbank Deposit Certificates, with a term equal to one (1) business day, calculated and disclosed by the Clearinghouse for the Custody and Financial Settlement of Securities (CETIP).

CDI Rate means the average interest rate based upon issuance transactions of Interbank Deposits with fixed interest rates, registered and settled through CETIP system, considering exclusively one-day transactions from interbank market, involving financial institutions from different groups (Extra group) and disregarding other transactions (Intra group), expressed as percentage per day, calculated and published by B3 in the daily informative available in its webpage (http://www.b3.com.br or http://www.cetip.com.br). If the CDI Rate becomes unavailable or otherwise ceases to be published, then the Parties shall use the CDI Rate whichever rate is adopted as the reference rate. “CAPEX” means the amounts actually incurred, paid, provisioned, accrued and/or capitalized by AES Brasil or by its subsidiaries regarding any expenditure, costs or expenses related to the development, construction and/or operation of the Projects. For the avoidance of doubt, all costs, expenses and provisions set out in Exhibit 2.3.2(vi) shall be deemed as CAPEX, including energy purchases necessary to comply with the power purchase agreements for Tucano 1 Project. “Claim” means any pending judicial or administrative lawsuit, Litigation, dispute, claim, action, defense, appeal, suit, condemnation, arbitration or mediation brought or conducted by or before or with any court or other Governmental Authority. “Closing” has the meaning set forth in Section 5.1. “Closing Date” means the date upon which the Closing occurs. “Closing Date Notification” has the meaning set forth in Section 3.6.1. “CNPJ” means the National Register of Legal Entities of the Brazilian Ministry of Finance. “Condition Precedent” has the meaning set forth in Section 3.3. “Consent” means any consent, approval, authorization, novation, waiver, permit, grant, concession, agreement, license, exemption or order of, registration, declaration or filing with, or report or notice to, any Person, including any Governmental Authority. “Control” and correlated expressions mean (i) the ownership, directly or indirectly, of more than fifty percent (50%) of the shares having voting rights or other equivalent rights of the subject entity entitled to vote or (ii) the power to direct or cause the direction of the management and policies of the subject entity, whether through the ownership of voting securities, by contract or otherwise. “Corporate Approvals” has the meaning set forth in Section 2.6. “Cost Sharing Agreement” means the Common Costs...

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