CIRR definition

CIRR means 3.12% per annum being the Commercial Interest Reference Rate determined in accordance with the OECD Arrangement for Officially Supported Export Credits to be applicable to the Loan hereunder (and includes the CIRR administrative margin of 0.20% per annum).

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CIRR means the OECD Commercial Interest Reference Rate applicable to the Facility of two point twenty per cent. (2.20%) per annum.

CIRR. (Commercial Interest Reference Rate) means 5.62% per annum or any other lower CIRR rate being the fixed rate for medium and long term export credits in Dollars applicable to the financing of the Ship according to the Organisation for Economic Co-operation and Development rules as determined by the competent Italian Authorities;

Examples of CIRR in a sentence

• BANK GMBH of ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇-▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ as CIRR agent (the CIRR Agent).

• No Credit Party may assign any of its rights or transfer by novation any of its rights, obligations or interest hereunder or under any other Credit Document without the prior written consent of the Hermes Agent, the CIRR Representative, and the Lenders.

• No additional CIRR Fee shall be payable in respect of a Deferred Loan.

• Notwithstanding the above, it is agreed that costs, fees, expenses and other compensation arising in respect of the initial syndication of the Loans of the type referred to in Section 6.05 shall not include any such costs, fees and expenses and other compensation arising solely in respect of legal advice to the Lenders to explain the technical and/or structural aspects of the Hermes and CIRR issues.

• None of the Facility Agent, a Lender or the CIRR Representative is required to provide to the Facility Agent (if applicable) or the Borrower evidence of how the determination of the funding cost has been made nor that it has been suffered.

More Definitions of CIRR

CIRR. (Commercial Interest Reference Rate) means four point eight nine per cent. (4.89%) per annum being the fixed rate in force for medium and long term export credits in euro according to the Organisation for Economic Co-operation and Development rules as determined by the competent French Authorities.

CIRR means the applicable Commercial Interest Reference Rate for a financing denominated in Dollars as set out in the IMUA and established and calculated according to the provisions of the OECD Arrangement on Officially Supported Export Credits, to be notified by SIMEST to the Agent (through the ECA Agent) and being [*] per cent. ([*]%) per annum for the purpose of the Facility.

CIRR means the “Commercial Interest Reference Rate,” as published by EXIM Bank at ▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇/tools-for-exporters/commercial-interest-reference-rates (or as otherwise specified by EXIM Bank), for the applicable repayment term, or to the extent that the CIRR is not ascertainable pursuant to the foregoing, then the rate determined by EXIM Bank, which rate, absent manifest error, shall be final, conclusive and binding on the Borrower.

CIRR means the “Commercial Interest Reference Rate” for US dollars, being 5.69 per cent, per annum.

CIRR means the applicable Commercial Interest Reference Rate for a financing denominated in Dollars as set out in the IMUA and established and calculated according to the provisions of the OECD Arrangement on Officially Supported Export Credits, to be notified by SIMEST to the Agent (through the ECA Agent) and expected to be five point zero eight per cent. (5.08%) per annum for the purpose of the Facility.

CIRR the Commercial Interest Reference Rate

CIRR means the Commercial Interest Reference Rate to be notified by ICO pursuant to the C▇▇▇ on or prior to the first Utilisation Date.