Nominal TAB Rate definition

Nominal TAB Rate means, with respect to an Interest Period, (a) the rate determined and published by the ABIF for each Chilean banking business day for 30, 90 or 180 day transactions in CLP for a period approximately equal to such Interest Period, according to the consolidated text of the “Reglamento Tasas TAB Nominal, en UF y TADO” (Regulation of the Nominal, UF and TADO Rates), as agreed by the board of the ABIF in a meeting held on January 19, 2017, and recorded on May 9, 2017 before the Notary Public of Santiago ▇▇. ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, under Repertory No. 2,774-2017, and published in the Diario Oficial (Official Gazette) of May 5, 2017 as published: (i) on the website ▇▇▇.▇▇▇▇.▇▇ on the date which such Interest Period commences or (ii) in the Santiago newspaper “El ▇▇▇▇▇▇▇▇” or in any other newspaper with circulation in Santiago, Chile on the next date to the commencement of such Interest Period; or (b) if applicable, such rate as is determined pursuant to Section 2.10(e); provided, that if such rate is less than 0.00%, such rate shall be deemed to be 0.00%.
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Nominal TAB Rate means the rate determined for each Bank Business Day by the ABIF for operations in Pesos at 30, 90 or 180 days, according to the duration of the Tranche B Interest Period to which will be applied the rate, in accordance with the consolidated text of the “Regulation of Nominal Bank Rates, Zero, BCU and BCP” agreed to by the ABIF Board in its meeting on the 8th of January, 2010, recorded on the 15th of April, 2010, before Santiago Notary Public ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Laso, under registry number 1637-10, and published in the Official Journal of the 23rd of April, 2010. It will be sufficient proof of every Nominal TAB rate determined by the ABIF to apply in each Tranche B interest period, during the term of this Agreement, the publication of which will be published in the daily “El ▇▇▇▇▇▇▇▇” or in such other newspaper of circulation in Santiago, Chile the day following such determination. If for any reason such publication does not occur, the Nominal Tab Rate to apply will be confirmed by way of the certification that is issued to this effect by the ABIF. If: /a/ for any reason the Nominal TAB Rate has been replaced by the ABIF for another variable rate to determine the weighted average effective interest for banking operations to 30, 90 and 180 days, from the expiration of the current Tranche B Period of Interest, such new variable rate will be applied that replaces the Nominal Tab Rate, as appropriate, in nominal annual base, as well as, with the reserve surcharge, technical reserve or any other legal or regulatory requirement that is not included in such new variable rate /provided that it affects the majority of the banking industry/; or /b/ the ABIF does not determine or does not distribute by any of the methods set out above any Nominal TAB Rate to apply or the replacement rate referred to in the letter /a/ above, the interest rate applicable during the term of this Agreement will be the TIP Rate applicable to non- adjustable operations for 90 days or more, plus the applicable surcharges. If in any way MVC discusses or challenges /for reasons other than manifest calculation error/ the determination or the manner in which is recorded the publication of any Nominal TAB rate, there will be applied in its absence the maximum conventional interest rate applicable to non-adjustable money credit operations denominated in Pesos.
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Examples of Nominal TAB Rate in a sentence

  • If the ABIF does not determine or provide the Nominal TAB Rate to be applied, the Administrative Agent shall forthwith give notice thereof to the Borrower, and the Borrower and the Administrative Agent after consultation with the Term A Loan Lenders shall negotiate in good faith to determine the Nominal TAB Rate or a substitute rate.

  • In the event that the foregoing described method of determining the Nominal TAB Rate were challenged, such rate will apply for such reason the maximum conventional rate for non-adjustable money credit transactions of similar term to those applicable under this Agreement, determined according to the provisions of the Law number 18,010 of Chile, as amended.

  • If the Borrower and the Administrative Agent after consultation with the Term A Loan Lenders reach agreement as to the determination of the Nominal TAB Rate or a substitute rate within 15 days after the giving of notice by the Administrative Agent, the relevant Term A Loans shall bear interest at an interest rate equal to the sum of the Nominal TAB Rate or such substitute rate as agreed by the Borrower and the Administrative Agent plus the Applicable Margin.

  • Pending such determination, the interest rate shall be computed on the basis of the Nominal TAB Rate as determined for the immediately preceding Interest Period.

  • If the Borrower and the Administrative Agent after consultation with the Term A Loan Lenders do not reach agreement as to the determination of the Nominal TAB Rate or a substitute rate within 15 days after the giving of notice by the Administrative Agent, the relevant Term A Loans shall bear interest at an interest rate equal to the Alternative CLP Rate.