Treasury Cost definition

Treasury Cost means, with respect to a Note and the related Disbursement, a fixed rate of interest equal to the weighted average per annum discount rate (expressed as a bond equivalent yield on the basis of a year of 360 days and applied on a daily basis) for direct obligations of the United States of America having a maturity of five (5), seven (7), ten (10) or twenty (20) years, as applicable (the obligations with such applicable maturity being referred to as the “Treasury Securities”), set at the most recent auction of Treasury Securities conducted in the month immediately preceding such Disbursement, as published by the Board of Governors of the Federal Reserve System (in Statistical Release H.15 or any successor publication, or in the absence of such publication, by a press release). In the event that the results of any auction of Treasury Securities are not published as provided above, the results of the most recently reported auction of Treasury Securities conducted prior to such unreported auction shall continue to apply for purposes of determining the Treasury Cost until such time, if any, as the results of any subsequent auction of Treasury Securities shall again be so published. The applicable maturity for Treasury Securities shall be determined by selecting the maturity listed in this definition above that most closely approximates the maturity of such Disbursement (determined as provided in the following paragraph); provided that the applicable maturity of Treasury Securities shall be not less than the maturity in the relevant Disbursement Request. For purposes of determining the Treasury Cost with respect to any Disbursement, installments of the repayment of the Loan shall be allocated to Disbursements in direct order of maturity. Accordingly, for this purpose, the amount of each Disbursement shall be divided into installments of $4,500,000 (or, if applicable, fraction thereof) and shall be allocated to Payment Dates for which a full allocation of $4,500,000 has not previously been made, in direct chronological order. For purposes of determining the applicable maturity of Treasury Securities with respect to such Treasury Cost, the maturity in the relevant Disbursement shall be determined based on the term beginning on the date of such Disbursement and ending on the date of the latest installment which has been allocated to such Disbursement in accordance with this paragraph.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Treasury Cost means, with respect to any amount, the fixed borrowing cost that would be charged to OPIC for such amount by the United States Department of Treasury (which will approximate the interest rate on U.S. Treasury notes with a similar maturity). "Treasury Rate" means, with respect to any Rate Period, a rate per annum equal to the sum of the weighted average per annum discount rate (expressed as a bond equivalent yield on the basis of a year of 365 or 366 days, as the case may be, and applied on a daily basis) for direct obligations of the United States of America with a maturity of three months ("91-day Treasury ▇▇▇▇") set at the most recent 91-day Treasury ▇▇▇▇ auction, as published by the Board of Governors of the Federal Reserve System (in Statistical Release H. 15 or any successor publication, or in the absence of such publication, by a press release). If the results of any auction of 91- day Treasury Bills are not published as provided in the preceding sentence, the results of the most recently reported auction of 91-day Treasury Bills will continue to apply until such time, if any, as the results of any subsequent auction of 9l-day Treasury Bills shall again be so published.

Treasury Cost means, at any time with respect to any amount, a fixed rate of interest equal to OPIC's cost of funds with respect to such amount.

Examples of Treasury Cost in a sentence

All Notes shall be issued for a term ending on or before the Loan Maturity Date and shall be consistent with the allocation of installments of repayment of the Loan used in determining the Treasury Cost for the corresponding Disbursement.
All expenses will be regulated by the National Treasury Cost Containment Instruction Note.
If the Company fails to pay in full when due any principal or interest on any Note, or any other amount due hereunder or under any other Financing Document, the Company shall pay to the order of OPIC on demand interest on such at a rate equal to the sum of (i) the Treasury Cost for such amount; (ii) the OPIC Spread; and (iii) to the extent permitted by applicable law, two percent (2.0%) per annum.
If the Company fails to pay in full when due any amount of principal or interest on any Note, the Company shall on demand pay OPIC default interest on such unpaid amount (in lieu of the Interest Rate) at a rate equal to the sum of (i) the Treasury Cost, (ii) the OPIC Spread, and (iii) two percent (2.0%) (to the extent permitted by applicable law) from the date of such payment default until the date on which such defaulted amount is paid in full.

More Definitions of Treasury Cost

Treasury Cost means, with respect to any amount, the cost to OPIC of funds obtained from the United States Department of Treasury (or any account maintained therewith) in an amount equal to such amount.