Noon Buying Rate definition
Examples of Noon Buying Rate in a sentence
However, if the USD/EUR Rate is not so quoted on the Exercise Date, the Spot Value will be the exchange rate between Euro and U.S. Dollars, based on the noon buying rate in The City of New York for cable transfers in foreign currencies as announced by the Federal Reserve Bank of New York for customs purposes (the "Noon Buying Rate").
The dollar amounts in the table below have been translated from guilders at the noon buying rate in New York City for cable transfers in foreign currencies as certified for customs purposes by the Federal Reserve Bank in New York City (the "Noon Buying Rate") on June 30, 1998, which was Df12.0332 per $1.00.
If the Noon Buying Rate is not so announced on the Exercise Date, then the Spot Value will be calculated on the basis of the arithmetic mean of the applicable spot quotations received by the Calculation Agent at approximately 3:00 p.m. London time on the relevant date for the purchase or sale by the Reference Dealers of the Reference Amount for settlement two Business Days later.
However, if the USD/EUR Rate is not so quoted on the date of automatic exercise, then the Spot Value will be the exchange rate between Euro and U.S. Dollars, based upon the noon buying rate in New York for cable transfers in foreign currencies as announced by the Federal Reserve Bank of New York for customs purposes (the "Noon Buying Rate").
The underwriting commission per share payable for the Securities to be paid by the Company shall be US$ per share for Securities initially offered in the United States or outside the United States and Canada or C$ (being based on the equivalent of the Noon Buying Rate on the date hereof) for Securities initially offered in Canada.