Three Month BA Rate definition
Three Month BA Rate means the rate per annum equal to the arithmetic average rounded to the fifth decimal place of the bid rates of interest for Canadian dollar banker’s acceptances with a maturity of three months from Closing Date or applicable Floating Rate Determination Date, as expressed on the Reuters CDOR pages as of 10:00 a.m., Toronto time, on the Closing Date or applicable Floating Rate Determination Date, if three or more such bid rates appear on such Reuters CDOR page at any such time. If fewer than three such bid rates appear on the Reuters CDOR page at any such time, the Three Month BA Rate shall be the rate per annum equal to the arithmetic average rounded to the fifth decimal place of the bid rate quotations for Canadian dollar bankers’ acceptances with a maturity of three months from the Closing Date or applicable Floating Rate Determination Date and in a principal amount equal to not less than $1,000,000 and that is representative of a single transaction in the market at such time, by the principal Toronto office of three of the five largest Schedule I Canadian chartered banks under the Bank Act (Canada) in the Canadian interbank market selected by the Corporation at approximately 10:00 a.m., Toronto time, on the Closing Date or applicable Floating Rate Determination Date.
Three Month BA Rate means the rate per annum equal to the arithmetic average rounded to the fifth decimal place of the bid rates of interest for Canadian dollar bankers’ acceptances with a maturity of three months from September 26, 2005 or applicable Floating Rate Determination Date, as expressed on the