PTAX Rate definition

PTAX Rate means BRL/USD foreign exchange rate, expressed as the number of BRL per one USD announced by the Banco Central do Brasil by approximately 1:15 p.m., São Paulo time, on the applicable Rate Fixing Date and published on Bloomberg page <USDBRL PTAX> <Curncy> or on any successor page or on the website of the Central Bank of Brazil (https://www.bcb.gov.br/en) or on any successor website, provided that the PTAX Rate found on the Central Bank website or any successor website shall prevail in case of conflict with the PTAX Rate appearing on Bloomberg page <USDBRL PTAX> <Curncy> or any successor page;

PTAX Rate means the US dollar rate published by the Central Bank of Brazil by means of its internet page regarding the exchange rates (http://www.bcb.gov.br/?txcambio), menu “Quotations and Bulletins” (“Cotações e Boletins”), option” Closing Prices regarding all currencies on a date” (“Cotações de Fechamento de todas as moedas em uma data”), for the currency USD, code 220,”Quotes in Real” (“Cotações em Real”), Sale (“Venda”).

PTAX Rate means BRL/JPY foreign exchange rate, expressed as the number of BRL per one JPY, announced by the Banco Central do Brasil by approximately 1:15 p.m., São Paulo time, on the applicable Rate Fixing Date and published on Bloomberg page <JPYBRL PTAX> <Curncy> or on any successor page or on the web site of the Central Bank of Brazil (https://www.bcb.gov.br/en) or on any successor web site, provided that the PTAX Rate found on the Central Bank website shall prevail in case of conflict with the PTAX Rate appearing on Bloomberg page <JPYBRL PTAX> <Curncy>;

Examples of PTAX Rate in a sentence

• If, however, 30 consecutive calendar days pass without publication of the Central Bank of Brazil BRL PTAX Rate, CME shall otherwise determine the Final Settlement Price.

• This value reflects the closing value of Ibovespa, as reported in real, divided the Brazil PTAX Rate, which is the average exchange rate for U.S. dollars calculated and reported by the Brazil Central Bank at the end of each day and reported on Bloomberg screen BZFXPTAX.

• Procedures if Central Bank of Brazil BRL PTAX Rate is Available after Commencement of a Deferral PeriodUpon publication of the Central Bank of Brazil BRL PTAX rate after a deferral period commences, and provided no price materiality percentage was met for that day, CME shall determine the Final Settlement Price using the reciprocal of such Rate rounded to 5 decimal places and the Brazilian real/U.S. dollar futures contract shall be settled on such day.

• First, the BRL-USD foreign exchange FX reference price for the currency conversion of the settlement price is the BRL PTAX Rate, which is the same rate referenced for the Brazilian NDF, the largest NDF market in the world.

• If the PTAX Rate is not available for any reason on Bloomberg page <USDBRL PTAX> <Curncy> or on any successor page or on the website of the Central Bank of Brazil (https://www.bcb.gov.br/en) or on any successor website, the Calculation Agent shall determine that a "Price Source Disruption Event" has occurred, and shall promptly notify the Issuer and the Agent (who will in turn inform the Noteholders) of such occurrence.

More Definitions of PTAX Rate

PTAX Rate. The exchange rate of Brazilian Reals per United States Dollar, sell quotation, freely agreed upon between the parties and for cash delivery, pursuant to the provisions of Resolution 3.568/2008 of the National Monetary Council (CMN), calculated and published by the Central Bank of Brazil (BACEN). Settlement price (PA): The closing price in United States Dollar per bag, calculated and/or arbitrated daily by BM&FBOVESPA, at its sole discretion, for each authorized contract month for the purpose of updating the value of open positions and calculating the variation margin value and settlement value of day trades. Business day: For the purposes of this Contract, a business day is considered as a day on which there is trading on BM&FBOVESPA. For the purposes of cash settlement and meeting margin calls, a business day is considered one on which as well as there being a trading session on BM&FBOVESPA, there is not a banking holiday in the New York marketplace of the United States of America. Agricultural Commodities Depository (DA): A depositary institution registered by BM&FBOVESPA authorized to execute arabica coffee deliveries for settlement of the contract. BM&FBOVESPA or Exchange: BM&FBOVESPA S.A. – Bolsa de Valores, Mercadorias e Futuros

PTAX Rate means the U.S. dollar purchase exchange rate PTAX currency code 220, as disclosed by the Brazilian Central Bank on its website.

PTAX Rate means the average offer rate for converting BRL into USD as reported by the Central Bank of Brazil (www.bcb.gov.br; see "Cotações e boletins") on the relevant Valuation Date. If no such rate is

PTAX Rate means, on any determination date, the conversion rate between the real/US dollar expressed in reais or one US dollar as reported by BACEN on such determination date. If the PTAX Rate scheduled to be reported on any determination date is not reported, or if there is a Conversion Rate Divergence event, then the PTAX Rate will be determined by reference to the quotations received from the leading Brazilian banks which will be selected by the calculation agent acting in good faith (together, the “Banks of Reference”). Quotations will be determined in each case for such determination date as soon as possible after it is determined that the PTAX Rate cannot be calculated as described above for such determination date. The PTAX rate will be the average of the real/US dollar conversion rates obtained from the Reference Banks. If only two quotes are obtained, then the PTAX Rate will be the average of the real/US dollar conversion rates obtained from those two Reference Banks. If only one quote is obtained, the PTAX Rate is such a quote. If no quotation is obtained from the Reference Banks, if the calculation agent determines in good faith that there are one or two other banks, assets in the real/US dollar market, suitable to replace them, such banks will be called to provide such quotations and such quotations will be used to determine the PTAX Rate (determining an average rate, as set forth above, if applicable).

PTAX Rate means JPY/BRL foreign exchange rate, expressed as the number of BRL per one JPY announced by the Banco Central do Brasil by approximately 1:15 p.m., São Paulo time, on the applicable Rate Fixing Date and as published on Reuters Screen “BRLJPYPTAX= CBBR” Page (or such other page or services as may replace that page to be used for the purpose of obtaining the Reference Rate) or on any successor page or on the website of the Banco Central do Brasil (https://www.bcb.gov.br/en) or on any successor website, provided that in the event of inconsistency between the PTAX Rate found on the Banco Central do Brasil website and the PTAX Rate appearing on Reuters Screen “BRLJPYPTAX= CBBR” Page, the PTAX Rate appearing on Reuters Screen “BRLJPYPTAX= CBBR” Page shall prevail.

PTAX Rate has the meaning set forth in the definition of “Applicable Exchange Rate” herein.

PTAX Rate. 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.