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.
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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.
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Examples of CIRR in a sentence

  • A Participant or a non-Participant may request that a CIRR be established for the currency of a non-Participant.

  • Other Participants shall use the CIRR set for a particular currency should they decide to finance in that currency.

  • Where official financing support is provided for floating rate loans, banks and other financing institutions shall not be allowed to offer the option of the lower of either the CIRR (at time of the original contract) or the short-term market rate throughout the life of the loan.

  • If the credit agreement is not signed within that limit, and the CIRR is reset for an additional six months, the new CIRR shall be committed at the rate prevailing at the date of reset.

  • When market developments require the notification of an amendment to a CIRR during the course of a month, the amended rate shall be implemented ten working days after notification of this amendment has been received by the Secretariat.


More Definitions of CIRR

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;
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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.
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CIRR means the “Commercial Interest Reference Rate” for US dollars, being 5.69 per cent, per annum.
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CIRR the Commercial Interest Reference Rate
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CIRR means the rate per annum advised by the Lender to the Borrower to be the USD Commercial Interest Reference Rate as published on or about the fifteenth day of every month by the Danish Agency for the Development of Trade and Industry (Erhvervsfremme Styrelsen) for the relevant maturity.
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CIRR the Commercial Interest Reference Rate determined in accordance with the OECD Arrangement for Officially Supported Export Credits
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CIRR means the “Commercial Interest Reference Rate” for US dollars, being 3.2 per cent. per annum.
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