JIBAR definition

JIBAR means, in relation to any Interest Period, the rate for the period which most closely approximates such Interest Period which appears on the Reuters Screen SAFEY Page as at 11h00 Johannesburg time on the first day of such Interest Period;

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JIBAR means, for an Interest Period of any Loan or Unpaid Sum: (a) the applicable Screen Rate; or (b) (if no Screen Rate is available for the Interest Period of that Loan or Unpaid Sum) the arithmetic mean of the rates (rounded upwards to four decimal places), as supplied to the Facility Agent at its request, quoted by the Reference Banks to leading banks in the Johannesburg interbank market, as of 11h00 on the Quotation Day for the offering of deposits in Rand for a period comparable to that Interest Period;

JIBAR means the Johannesburg inter-bank agreed rate;

Examples of JIBAR in a sentence

If before close of business in Johannesburg on the Quotation Day for the relevant Interest Period the Agent receives notifications from a Lender or Lenders (whose participations in a Loan exceed 35% of that Loan) that the cost to it of funding its participation in that Loan from the wholesale market for rand would be in excess of JIBAR then Clause 12.3 (Cost of Funds) shall apply to that Loan for the relevant Interest Period.
If Clause 12.1.3 above applies but no Historic Screen Rate is available for the Interest Period of the Loan, the applicable JIBAR shall be the Interpolated Historic Screen Rate for a period equal in length to the Interest Period of that Loan.
If Clause 12.1.4 above applies but it is not possible to calculate the Interpolated Historic Screen Rate, the Interest Period of that Loan shall, if it has been shortened pursuant to Clause 12.1.2 above, revert to its previous length and there shall be no JIBAR for that Loan and Clause 12.3 (Cost of Funds) shall apply to that Loan for that Interest Period.
Subject to clause 9.2 (Market disruption), if JIBAR is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation by 11h00 on the Quotation Day, the applicable JIBAR shall be determined on the basis of the quotations of the remaining Reference Banks.
Subject to clause 11.2 (Market disruption), if JIBAR is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation by the Specified Time on the Quotation Day, the applicable JIBAR shall be determined on the basis of the quotations of the remaining Reference Banks.

More Definitions of JIBAR

JIBAR means the mid-market rate for 3 month deposits in South African Rand;

JIBAR means, in respect of any Relevant Currency and any specified period, the interest benchmark known as the Johannesburg interbank agreed rate;

JIBAR means, in relation to any Loan: 1.1.74.1 the applicable Screen Rate as of the Specified Time for rand and for a period equal in length to the Interest Period of that Loan; or 1.1.74.2 as otherwise determined pursuant to Clause 12 (Changes to the Calculation of Interest), and if, in either case, that rate is less than zero, JIBAR shall be deemed to be zero;

JIBAR means the Johannesburg inter-bank agreed rate; “LIBOR” means the London inter-bank offered rate;

JIBAR means the “JIBAR” rate as determined in and prevailing under the Plateau Senior Facilities Agreement from time to time;

JIBAR means the Johannesburg interbank agreed rate calculated by South African Futures Exchange (Safex) (being the futures exchange of the JSE Limited) for three month South African Rand deposits on the first Business Day of each calendar quarter;

JIBAR means, in relation to any Loan: 2.1.78.1 the applicable Screen Rate; or 2.1.78.2 (if no Screen Rate is available for the Interest Period of that Loan) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Facility Agent, at its request, quoted by the Reference Banks to leading banks in the Johannesburg Interbank Market, as of the Specified Time on the Quotation Day for the offering of deposits in ZAR for a period comparable to the Interest Period of the relevant Loan;