CDS Rate definition

CDS Rate means, as of the date of determination thereof, the average of offer-side fixed rates for credit-default swap protection offered with respect to senior unsecured debt obligations of Old Mutual plc, such protection having a term of five years, as quoted by three dealers selected by Seller; provided that: (a) if the Seller receives only two quotations, then the “CDS Rate” shall be an amount equal to the higher of such quotations; or (b) if the Seller receives only one quotation, then the “CDS Rate” shall be an amount equal to such quotation.
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CDS Rate means, for any Determination Date, a rate per annum equal to the Borrower’s credit default swap mid-rate spread applicable to senior, unsecured, non-credit enhanced debt of the Borrower with a maturity of one year reported by Markit through its website as of the close of business, New York time, on the Business Day immediately preceding such Determination Date, obtained by the Administrative Agent from such website on such Determination Date.
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CDS Rate means, for any Determination Date, a rate per annum equal to the Borrower’s credit default swap mid-rate spread applicable to senior, unsecured, non-credit enhanced debt of the Borrower with a maturity of three years reported by Markit through its website as of the close of business, New York time, on the Business Day immediately preceding such Determination Date, obtained by the Administrative Agent from such website on such Determination Date.
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Examples of CDS Rate in a sentence

  • CDS Service Agreement No. 36057, effective November 1, 1989, as it may have been amended, providing for a bundled sales, transportation and storage service under the CDS Rate Schedule.

  • This Agreement is being entered into by the parties hereto pursuant to the Commission's Order No. 636 and its orders dated July 14, 1993 and September 29, 1993, with respect to Seller's Order No. 636 compliance filing and relates to the following existing Service Agreements: CDS Service Agreement No. 36065, effective November 1, 1989, as it may have been amended, providing for a bundled sales, transportation and storage service under the CDS Rate Schedule.

  • This Agreement is being entered into by the parties hereto pursuant to the Commission's Order No. 636 and its order dated July 14, 1993 and September 29, 1993, with respect to Seller's Order No. 636 compliance filing and relates to the following existing Service Agreements: CDS Service Agreement No. 37016, effective November 1, 1989, as it may have been amended, providing for a bundled sales, transportation and storage service under the CDS Rate Schedule.