PAI Rate definition
PAI Rate means the annual percentage rate is determined by OTC Clear by reference to the relevant end-of-day overnight index swap (“OIS”) curves calculated on TPAI, where “TPAI” is the Currency Day (for the relevant Contractual Currency) immediately preceding T0 if the relevant OIS curves are available on such day (T-1), or if the relevant OIS curves are not available on T-1, the last relevant OIS curves available (for the avoidance of doubt, if TPAI falls on a day other than a Currency Day, the relevant OIS curves the nearest immediately preceding Currency Day will be used); and