PTAX definition
PTAX means the ask rate which means the Brazilian Reais’s bid and Dollar’s ask rate, expressed as the amount of Brazilian Reais per one Dollar, published by the Central Bank of Brazil on SISBACEN Data System under transaction code PTAX-800, Option 5, "Venda" by approximately 6:00 p.m., São Paulo time.
PTAX means, on a specific Business Day, the foreign exchange rate used as reference for the US sales quotation, published by BACEN on such Business Day, mainly referred to as Sales PTAX (or any other foreign exchange rate published by BACEN that may replace this rate).
PTAX means the ask rate which means the Brazilian Reais’ bid and Dollar’s ask rate, expressed as the amount of Brazilian Reais per one Dollar, published by the Central Bank of Brazil on SISBACEN Data System under transaction code PTAX- 800, Option 5, "Venda" by approximately 6:00 p.m., São Paulo time; Penalty / Bonus Component = (Fe% - Fe% Target Specifications) * US$[•]/wmtu wmtu = [•]% of Fe Content of each wmt (=[•]kg of Fe content in wmt); Fe% = means the actual average iron content of QL in a determined month; QL = means the quantity of the Batch effectively supplied to BUYER in a determined month, as indicated on the weighing certificates issued in the manner set forth in Attachment III hereto; Fe % Target Specifications = means the applicable iron content of Fe set forth in Attachment I hereto; and P2 = means the amount in Brazilian Reais equivalent to US$ [•], an amount that is fixed and non-adjustable for the entire period that this Contract remains in effect (non-cash amount of the Product price). For purposes of translating the P2 into Brazilian currency, SELLER shall use PTAX applicable at the close of the business of the day that is 2 (two) Business Days (as defined in Clause 5.1.1 below) prior to the relevant calculation date, which relevant calculation date for the purpose of the payment of the Advance Payment shall mean the date on which such payment effectively occurs. If no PTAX value is available on such date, PTAX value on the date shall be replaced by the exchange rate freely practiced in the financial market.
Examples of PTAX in a sentence
If no PTAX value is available on such date, PTAX value on the date shall be replaced by the exchange rate freely practiced in the financial market.
Such Fixing exchange rate will be the result of multiplying the exchange rate USD / R$ PTAX Ask fixed by the Brazilian Central Bank (ticker Bloomberg: BZFXPTAX Index), by the exchange rate € / USD fixed by the ECB (Reuters Screen ECB37) on the applicable date.
Any such amount payable under this Section 2.07 shall be converted from Reals into Dollars based on the PTAX selling rate as published by Banco Central do Brasil (BACEN) on the date such reduction of Tax is considered to be realized.
Any amounts in this Agreement expressed in United States dollars shall be converted into Reais by the average of the purchase and sale rates for United States dollars published by the Central Bank of Brazil on the Business Day immediately prior to the date on which any payment is due or conversion is to be made in accordance with the terms of this Agreement through the SISBACEN data system under rate PTAX 800, option 5 – L – Taxas para Contabilidade.
Except as otherwise expressly provided herein, all BR$ amounts to be translated to US$ under this Agreement, and all US$ amounts to be translated to BR$ under this Agreement, as of any date, shall be translated at the PTAX Exchange Rate.
More Definitions of PTAX
PTAX means the ask rate which means the Brazilian Reais’s bid and Dollar’s ask rate, expressed as the amount of Brazilian Reais per one Dollar, published by the Brazilian Central Bank on SISBACEN Data System under transaction code PTAX-800, Option 5, "Venda" by approximately 6:00 p.m., São Paulo time; and P2 = means the amount in Brazilian Reais equivalent to US$ [•], which is fixed and non-adjustable for the entire period that this Agreement remains in effect (non-cash amount of the Services price). For purposes of translating the P2 into Brazilian currency, CSN shall use PTAX applicable at the close at the business of the day that is 2 (two) Business Days (as defined in Clause 9.1.1 below) prior to the relevant calculation date, which relevant calculation date for the purposes of the payment of the Advance Payment shall mean the date on which the such payment effectively occurs. If, no PTAX value is available on such date, PTAX value on the date shall be replaced by the exchange rate freely practiced in the financial market.
PTAX. The exchange rate of Brazilian Reals (R$) per U.S. Dollar for cash delivery, traded in the foreign exchange market, pursuant to the provisions of Resolution No. 3265/2005 of the National Monetary Council (CMN), calculated and published by the Central Bank of Brazil (BACEN) through SISBACEN, transaction PTAX800, option “5,” closing offered quotation, for settlement in two days, utilizing the maximum of six decimal places, also published by BACEN with the denomination “closing PTAX,” pursuant to Communication 10742, of February 17, 2003, corresponding to the last day of the month preceding the delivery month. Business day: Any day that is a trading day at BM&FBOVESPA.
PTAX means the ask rate which means the Brazilian Reais’ bid and Dollar’s ask rate, expressed as the amount of Brazilian Reais per one Dollar, published by the Brazilian Central Bank (BACEN) on SISBACEN Data System under transaction code PTAX-800, Option 5, "Venda" by approximately 6:00 p.m., São Paulo time; Penalty / Bonus Component = (Fe% - Fe% Target Specifications) * US$[•]/wmtu; wmtu = [•]% of Fe Content of each wmt (= [•]kg of Fe content in wmt) Fe% = means the actual average iron content of QL in a determined month; QL = means the quantity of the Batch effectively supplied by SELLER to BUYER in a given month, as indicated on the weighing certificates issued in the manner set forth in Attachment III hereto; and
PTAX means the PTAX rate, expressed as the amount of one Brazilian Real per one US Dollar, published by the Central Bank of Brazil in its website.
PTAX means the ask rate which means the Brazilian Reais’ bid and Dollar’s ask rate, expressed as the amount of Brazilian Reais per one Dollar, published by the Central Bank of Brazil on SISBACEN Data System under transaction code PTAX-800, Option 5, "Venda" by approximately 6:00 p.m., São Paulo time; Penalty / Bonus Component = (Fe% - Fe% Target Specifications) * US$[•]/wmtu wmtu = [•]% of Fe Content of each wmt (=[•]kg of Fe content in wmt); Fe% = means the actual average iron content of QL in a determined month; QL = means the quantity of the Batch effectively supplied to BUYER in a determined month, as indicated on the weighing certificates issued in the manner set forth in Attachment III hereto; Fe % Target Specifications = means the applicable iron content of Fe set forth in Attachment I hereto; and P2 = means the amount in Brazilian Reais equivalent to US$[•], an amount that is fixed and non-adjustable for the entire period that this Contract remains in effect (non-cash amount of the Product price).
PTAX. The exchange rate of Brazilian Reals (R$) per US Dollar published by the Central Bank of Brazil (BACEN) through SISBACEN, transaction PTAX800, option ―5,‖ closing offered quotation, for settlement in two days, utilizing the maximum of seven decimal places, corresponding to the last day of the month preceding that of the transaction. Free on truck: Commodity loaded on tank trucks at the port terminal or distribution base, on the account and at the risk of the seller. Terminal: Depository facilities authorized to receive the commodity at the Port of ▇▇▇▇▇▇ (SP). Distribution base: Depository facilities authorized to receive the commodity authorized to receive the commodity in the City of Paulínia (SP). PVU: Posto veículo usina (equivalent of EXW - Ex Works). PVT: Posto veículo tanque (equivalent of Ex Tank).
PTAX. The exchange rate of Brazilian Reals (R$) per U.S. Dollar for cash delivery, pu- blished by the Central Bank of Brazil (BACEN) through SISBACEN, transaction PTAX800, option “5,” closing offered quotation, for settlement in two days, utili- zing the maximum of seven decimal places, corresponding to the last day of the month preceding the delivery month. Business day: Any day that is a trading day at BM&FBOVESPA.