Reference Rate of Exchange definition

Reference Rate of Exchange means with respect to any date the effective rate of exchange on such date for conversion of Local Currency into Guarantee Currency determined as follows:

Reference Rate of Exchange means with respect to any date the effective rate of exchange on such date for conversion of the Local Currency into Guarantee Currency determined as follows:

Reference Rate of Exchange means, on any Date of Loss, the effective average rate of exchange applied by the central bank or other foreign regulatory authority of the Host Country for the exchange rate applicable on the Date of Loss for the conversion of the Local Currency into Policy Currency. If on the Date of Loss the central bank has not freely executed conversions into the Policy Currency or has applied multiple exchange rates with respect to such conversions, the Reference Rate of Exchange shall be computed on the basis of one of the following exchange rates for the conversion of Local currency into Policy Currency in the following order of priority:

Examples of Reference Rate of Exchange in a sentence

• The Reference Rate of Exchange shall be calculated taking into account the application of all charges and expenses due in case of conversions and transfers by or on behalf of the Guarantee Holder under the prevailing laws, regulations and business practices of the Host Country.

• The Policy Currency equivalent shall be determined using the Reference Rate of Exchange in effect on the Date of Loss.

• For conversion purposes between United States Dollars and Indian Rupees or any other currency, the Reserve Bank of India Reference Rate of Exchange for the transaction day on which the revenues receipts or income are recorded shall be used.

• The expenses paid in a foreign currency by the Guarantee Holder, or the payments referred to in Subsection 10.2, shall be converted into the Guarantee Currency by applying the Exchange Rate Published by the European Central Bank on the date when the expenses were paid or the payments made, or in case such rate is not available, by applying the Reference Rate of Exchange.

• In case the Reference Rate of Exchange cannot be determined as described above, Finnvera shall determine a reasonable Reference Rate of Exchange, to be applied after having consulted the Guarantee Holder.

More Definitions of Reference Rate of Exchange

Reference Rate of Exchange means (i) the official exchange rate applied by the central bank or equivalent entity of the Host Country for the category of remittance that is the subject of a Claim; or, (ii) if the central bank or equivalent entity does not freely execute conversions of Local Currency into Policy Currency for such category of remittance, then the Reference Rate of Exchange shall be the effective exchange rate obtained through the most active legal and normal channel in the Host Country for conversion of Local Currency into Policy Currency for the category of remittance that is the subject of a Claim. The most active legal and normal channel shall be agreed by the Underwriter and the Insured. If no exchange rate can be determined pursuant to (i) or (ii) above, the Reference Rate of Exchange shall mean the last available official exchange rate applied by the central bank or equivalent entity of the Host Country prior to the Date of Loss.

Reference Rate of Exchange means the official exchange rate applied by the Brazilian central bank (or any equivalent entity) for the category of remittance used to make payments under the Standby Purchase Agreement, provided that if the Brazilian central bank does not freely execute conversions of Reais into U.S. dollars for such category of remittance, then the Reference Rate of Exchange will be the effective exchange rate obtained through the most active legal and normal channel (as such rate is specified by the Trustee) in Brazil for the conversion of Reais into U.S. dollars for the category of remittance used to make payments under the Standby Purchase Agreement; provided, however, that if no exchange rate can be determined pursuant to the above, the reference rate of exchange will mean the last available official exchange rate applied by the Brazilian central bank or equivalent entity in Brazil prior to the date the payment of a Purchase Obligation under the Standby Purchase Agreement was to have been made.

Reference Rate of Exchange has the meaning specified in the Letter of Credit Agreement.

Reference Rate of Exchange means the Government exchange rate, as of the Date of Loss, applicable to the type of remittance involved. If, however, as of the Date of Loss,

Reference Rate of Exchange means the (i) official exchange rate applied by the Brazilian central bank for the category of remittance that is used to make payments under the standby purchase agreement or (ii) if the Brazilian central bank does not freely execute conversions of reais into U.S. dollars for such category of remittance, then the reference rate of exchange will be the effective exchange rate obtained through the most active legal and normal channel (as such rate is specified by the trustee) in Brazil for the conversion of reais into U.S. dollars for the category of remittance that is used to make payments under the standby purchase agreement; provided, however, that if no exchange rate can be determined pursuant to the above, the reference rate of exchange will mean the last available official exchange rate applied by the central bank or equivalent entity in Brazil prior to the date the purchase payment under the standby purchase agreement was to have been made.

Reference Rate of Exchange has the meaning set forth in the Insurance Policy.

Reference Rate of Exchange means the (i) official exchange rate applied by the Central Bank for the category of remittance that is the subject of a claim or