TIOP definition

TIOP means "Paris Interbank Offered Rate" expressed in the form of an annual rate, as published (at this time, on page 20041 of the Telerate screen) under the auspices of the French Banking Association (Association Francaise des Banques) at approximately 11:30 am (Paris time) on the Business Day preceding the day scheduled for a Drawdown, for deposits denominated in French francs on the Paris interbank market at approximately 11:00 am (Paris time) for a time period equal to the Interest Period concerned, and for an amount comparable to that of the Drawdown concerned. In the event that the said rate is not published, PIBOR shall be the annual rate computed by the Agent, which is equal to the arithmetic mean (rounded up to the next one-sixteenth of one percent, where applicable) of the rates quoted at the request of the Agent by the Reference Banks for deposits in French francs on the Paris interbank market at approximately 11:00 am (Paris time) one (1) Business Day before the day scheduled for a Drawdown, for a time period equal to that of the Interest Period concerned, and for an amount comparable to that of the Drawdown. In the event that a Reference Bank has not forwarded its rate to the Agent by approximately 11:30 am (Paris time) on the specified day, PIBOR shall be computed by the Agent on the basis of the rates provided by the other two Reference Banks. If no other Reference Bank quotes a rate, or if only one Reference Bank does so, the rate to be used for the Interest Period concerned shall be computed in accordance with the provisions of Article 10.3 ("Market Disruption"). In the event that PIBOR should disappear and be replaced by a rate of the same or an equivalent type, as well as in the event of a change affecting the organization which publishes the said rate or the procedures governing publication, including but not limited to as a result of the changeover to the single European currency, the rate which results from said change or replacement shall apply by operation of law.
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Examples of TIOP in a sentence

  • CLEVELAND-CLIFFS TOOLING AND STAMPING COMPANY CLEVELAND-CLIFFS TOOLING AND STAMPING HOLDINGS LLC CLEVELAND-CLIFFS TUBULAR COMPONENTS LLC CLIFFS MINNESOTA MINING COMPANY CLIFFS TIOP HOLDING, LLC CLIFFS TIOP II, LLC CLIFFS TIOP, INC.

  • Cliffs Natural Resources Luxembourg S.a.r.l Cliffs TIOP Holding, LLC Cliffs TIOP, Inc.

  • AK TUBE LLCAKS INVESTMENTS, INC.CLIFFS MINNESOTA MINING COMPANYCLIFFS TIOP, INC.CLIFFS UTAC HOLDING LLCIRONUNITS LLCLAKE SUPERIOR & ISHPEMING RAILROAD COMPANYMOUNTAIN STATE CARBON, LLCPPHC HOLDINGS, LLCSILVER BAY POWER COMPANYSNA CARBON, LLCUNITED TACONITE LLC By: /s/ ▇▇▇▇▇ ▇.

  • Cliffs (Gibraltar) Holdings Limited Luxembourg SCS Cliffs (Gibraltar) Holdings Limited Cleveland-Cliffs International Holding Company The Cleveland-Cliffs Iron Company United Taconite LLC Cliffs UTAC Holding LLC Cliffs Minnesota Mining Company Northshore Mining Company Cliffs Asia Pacific Iron Ore Holdings Pty Ltd Cliffs Asia Pacific Iron Ore Pty Ltd Cliffs Natural Resources Pty Ltd Cliffs Natural Resources Holdings Pty Ltd Cliffs TIOP, Inc.

  • CLIFFS INTERNATIONAL MANAGEMENT COMPANY LLC CLIFFS MINING HOLDING, LLC CLIFFS MINING HOLDING SUB COMPANY CLIFFS MINING SERVICES COMPANY CLIFFS MINNESOTA MINING COMPANY CLIFFS PICKANDS HOLDING, LLC CLIFFS TIOP HOLDING, LLC CLIFFS TIOP, INC.

  • In the absence of agreement between the Borrower and the Bank, the reference rate then applicable to the drawdown shall be equal to the arithmetic mean of the four highest rates used in setting the TIOP for the period in question of the business day prior to the day the funds were made available (or the first day of the period for calculating interest).

  • Cliffs TIOP II, LLC Cliffs UTAC Holding LLC Lake Superior & Ishpeming Railroad Company The Cleveland-Cliffs Iron Company Marquette Iron Mining Partnership Northshore Mining Company ▇▇▇▇▇▇ Mining Company L.C. a.

  • Reference rate shall be understood to mean the PIBOR Franc (TIOP) rate, for a term equivalent to the term of each of the Drawdowns still to lapse, rounded off, if necessary, to the next higher number of months; the rate shall be published by Telerate the business day preceding the day of early repayment of said Drawdown.

  • By way of example, the aggregate actual rate of the Credit applicable on April 18, 1997, for total use of the Credit, would amount to 3.59% per annum, taking into consideration a TIOP at 6 months of 3.46484%, the rate for the period being 1.795%, the duration of the period, 6 months.

  • The spread on the Paris market on extremes of the rates bid and asked at 11 a.m. for the French franc for the TIOP rate determination periods by the reference banks (as they are displayed on the TELERATE screen) is generally 1/8% [0.125%] per year.