Prevailing Spot Rate definition
Prevailing Spot Rate means, on any day, the spot rate of exchange applicable to an exchange of the applicable currency to U.S. Dollars as quoted on Bloomberg at 11:00 am (London time) on such date, save that if such spot rate is unavailable, the Prevailing Spot Rate shall be such other spot rate of exchange as may be selected by the Collateral Manager (acting on behalf of the Issuer) in consultation with the Collateral Administrator, and for the purposes of the exchange at Prevailing Spot Rate referred to in the Conditions, the Prevailing Spot Rate shall be a spot rate of exchange quoted on the Business Day following the Determination Date by the Calculation Agent for such exchange of currencies;
Prevailing Spot Rate means (a) if such rate is being determined otherwise than for the purposes of the actual conversion of amounts by the Account Bank from one currency into another currency, such prevailing spot rate at which the Issuer could effect the relevant conversion of an amount in one currency into another currency as determined by the Determination Agent at such relevant time and (b) if such rate is being determined for the purposes of the actual conversion of amounts by the Account Bank from one currency into another currency, such prevailing spot rate at which the Account Bank agrees to effect the relevant conversion at the relevant time (as determined by the Account Bank in accordance with its customary business procedures);
Prevailing Spot Rate here means the spot rate at any time on a day whose spot date equals the settlement date of the forward contract. We denote this time by T˜s
More Definitions of Prevailing Spot Rate
Prevailing Spot Rate means the spot rate determined by the Collateral Administrator for the exchange of US Dollars into Euro or vice versa, as applicable on any given day.
Prevailing Spot Rate means the spot rate determined by the Calculation Agent for the exchange of
Prevailing Spot Rate means the spot rate at which an independent bank of international repute, selected by the Company and approved in writing by the Trustee, sells United States dollars.
Prevailing Spot Rate means the spot rate at which an independent bank of international repute, selected by the Issuer and approved in writing by the Trustee, sells
Prevailing Spot Rate has the meaning set out in Condition 5(C);