Representative Rate definition

Representative Rate means, with respect to any currency other than NIS, the representative rate of exchange of the NIS and such currency, last published by the Bank of Israel immediately prior to the relevant date of payment or calculation (as the case may be) and, if the Bank of Israel shall cease to publish a representative rate, then any other rate of exchange of the NIS and such currency, officially published, which comes in place of such representative rate, last published immediately prior to the relevant date of payment or calculation (as the case may be) and, in the absence of any such official rate, then the average of the selling and buying rates of exchange of such currency, for NIS (for cheques and remittances) prevailing at the Lender at the end of the last Business Day prior to the relevant date of payment or calculation (as the case may be);

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Representative Rate means the representative rate of exchange of the New Israeli Shekel against the US Dollar, as published by the Bank of Israel.

Representative Rate. The representative exchange rate of the Dollar to the NIS as published by the Bank of Israel, or any other official exchange rate of the Dollar to the NIS that may replace it, if applicable, provided that during any period in which the Bank of Israel does not publish exchange rates of the Dollar to the NIS, the Representative Rate shall be the exchange rate of the Dollar to the NIS determined by the Minister of Finance together with the Governor of the Bank of Israel for purposes of Dollar-linked government notes;

Examples of Representative Rate in a sentence

• Note: In this case Israeli Bidder must state in any invoice sent, the sum for payment, both in said foreign currency and in NIS (after being converted in accordance with the Representative Rate of Exchange published by the Bank of Israel - the last known value on date of issue of invoice) - the amount before addition of V.A.T and amount after the addition of V.A.T.

• In case of local (Israeli) Contractor, where currency exchange change rates are needed to/ from NIS, all exchange rates shall be the Representative Rate of Exchange published by the Bank of Israel.

• The NIS equivalent of the dollar value of any distribution shall be determined in accordance with the Representative Rate last published by the Bank of Israel prior to the date of the making of the distribution.

• Commencing January 1, 2004 and provided that the Employee has a valid driver's license and valid vehicle license, the Company shall pay the Employee monthly a vehicle maintenance allowance in an amount in NIS equal to US $150 (US Dollars One Hundred and Fifty) (calculated at the Representative Rate).

• TheExercise Price for the number of Series A Preferred Shares specified inthe notice shall be payable on the Effective Date, in U.S. dollars orthe NIS equivalent thereof, based on the Representative Rate of Exchange published by the Bank of Israel known as of the time of payment.

More Definitions of Representative Rate

Representative Rate means the representative exchange rate of the relevant foreign currency in relation to Israeli currency published by the Bank of Israel on the relevant Business Day. Where the Bank of Israel does not publish a Representative Rate, the Representative Rate shall be deemed to be the rate for transfers and cheques determined by the Bank on the relevant date for the purchase of the relevant foreign currency from its customers against Israeli currency.

Representative Rate means the representative rate of exchange of one Dollar to New Israeli Shekels, as last published by the Bank of Israel prior to the date of payment of or reference to any amount quoted in this Agreement in Dollars.

Representative Rate the last representative rate published by the Bank of Israel which is known on the date the loan is given.

Representative Rate means the representative rate of exchange for NIS to Dollar, or vice versa, published by the Bank of Israel.

Representative Rate. - means, with respect to any currency other

Representative Rate with respect to each relevant calculation date – shall mean the representative rate of exchange of the respective foreign currency published by the Bank of Israel just before the date on which the respective calculation is to take place, or if the Bank of Israel does not publish at its usual time the representative rate of exchange of the respective foreign currency, any other rate of exchange of the respective foreign currency published by a competent authority just before the date on which the respective calculation is to take place, and which is determined by the Bank as being a representative rate of exchange for such foreign currency for each and every customer of the Bank, taken as a whole.

Representative Rate. The latest representative rate of the US Dollar per NIS 1, published by the Bank of Israel before the date of performing an actual payment according to this Agreement.