GDA Rate definition
GDA Rate means the variable rate of interest accruing on the balance standing to the credit of the GIC Account being a variable rate at a minimum of 0.10% below the average of the rates per annum for Canadian Dollar bankers’ acceptances having a term of 30 days that appears on the Reuters Screen as of 10:00 a.m. (Toronto Time) on the date of determination, as reported by the GIC Provider (and if such screen is not available, any successor or similar service as may be selected by the GIC Provider) (calculated on the basis of the actual number of days elapsed and a 365 day year) or such greater amount as the Guarantor LP (or the Cash Manager on its behalf) and the GIC Provider may agree from time to time. For greater certainty, any change in the GIC Rate agreed to by the Guarantor LP (or the Cash Manager on its behalf) and the GIC Provider in accordance with the foregoing shall not constitute an amendment to, or a modification or variation of, the Guaranteed Investment Contract;
GDA Rate means the variable rate of interest accruing on the balance standing to the credit of the GDA Account being a variable rate at a minimum of % below the average of the rates per annum for Canadian dollar bankers’ acceptances having a term of 30 days that appears on the “Reuters Screen CDOR Page” as of 10:00 a.m. (Toronto Time) on the date of determination, or if such day is not a Business Day, then on the immediately preceding Business Day rounded to the nearest 1/100th of 1% (with 0.005% being rounded up) as reported by the GDA Provider (and if such screen is not available, any successor or similar service as may be selected by the GDA Provider) (calculated on the basis of the actual number of days elapsed and a 365 day year) or such greater amount as the Guarantor (or the Cash Manager on its behalf) and the GDA Provider may agree from time to time. For greater certainty, any change in the GDA Rate agreed to by the Guarantor (or the Cash Manager on its behalf) and the GDA Provider in accordance with the foregoing shall not constitute an amendment to, or a modification or variation of, the Guaranteed Deposit Account Contract;
GDA Rate means the variable rate of interest accruing on the balance standing to the credit of the GDA Account from time to time, being the greater of (i) 0.19547% above Daily Compounded ▇▇▇▇▇ as determined by the GDA Provider for the applicable Guarantor Observation Period, and (ii) such greater percentage as the Guarantor (or the Cash Manager on its behalf) and the GDA Provider may agree from time to time. For greater certainty, any change in the GDA Rate agreed to by the Guarantor (or the Cash Manager on its behalf) and the GDA Provider in accordance with the foregoing shall not constitute an amendment to, or a modification or variation of, the Guaranteed Deposit Account Contract;”
Examples of GDA Rate in a sentence
Interest will accrue daily on the Standby GDA Balance and will be paid monthly in arrears on the 10th Business Day of each month at the Standby GDA Rate by payment for value on the same day to the Standby GDA Account or such other accounts as the Guarantor (or the Cash Manager on its behalf) will specify.
Interest will accrue daily on the GDA Balance and will be paid monthly in arrears on the Calculation Date at a rate of interest equal to the GDA Rate by payment for value on the same day to the GDA Account or such other accounts as the Guarantor (or the Cash Manager on its behalf) will specify.
More Definitions of GDA Rate
GDA Rate means the variable rate of interest accruing on the balance standing to the credit of the GDA Account being a variable rate at a minimum of 0.19547% above Daily Compounded ▇▇▇▇▇ as determined by the GDA Provider for the applicable Guarantor Observation Period, or such greater amount as the Guarantor (or the Cash Manager on its behalf) and the GDA Provider may agree from time to time. For greater certainty, any change in the GDA Rate agreed to by the Guarantor (or the Cash Manager on its behalf) and the GDA Provider in accordance with the foregoing shall not constitute an amendment to, or a modification or variation of, the Guaranteed Deposit Account Contract;”
GDA Rate means the rate of interest accruing on the balance standing to the credit of the GDA Account equal to the annual rate of CDOR less 1.0% in respect of a Guarantor Payment Period;