DBAR definition
DBAR means the sum of (i) the rate of discount per annum, rounded ---- upward, if necessary, to the nearest integral multiple of 1/16 of 1%, quoted by the Agent to the Borrower upon request from time to time as being the Agent's discount rate then in effect for purchasing bills of exchange accepted by the Agent in a specified amount of Canadian Dollars and for a specified term, plus (ii) 3/10ths of 1% (0.3%).
Examples of DBAR in a sentence
The Agent will verbally inform each of the Banks of the DBAR applicable to each Drawdown by way of Acceptances hereunder no later than 10:00 a.m. on the day on which a Drawdown is to be made by way of Acceptances hereunder, and such DBAR will not be communicated to the Borrower any earlier than 10:30 a.m. on such day.
The purchase price for each such accepted ▇▇▇▇ of exchange will be equal to (i) the principal amount of such ▇▇▇▇ of exchange, minus (ii) the principal amount of such ▇▇▇▇ of exchange multiplied by the DBAR.