On each Interest Setting Date, the WATBY plus the Applicable Margin applicable as at such date shall be determined and interest shall be calculated at that rate for the relevant Interest Period.
Swale means a shallow depression in the ground sloping to a place for disposal for the purpose of providing a method of drainage of surface water.
Seaplane means a fixed wing aircraft which is designed for taking off and landing on water and includes amphibians operated as seaplanes;
Toddler means a child at least one year of age but less than 2 years of age.
SORA means, in respect of any Singapore Business Day “i”, a reference rate equal to the daily Singapore Overnight Rate Average published by the Monetary Authority of Singapore (or a successor administrator), as the administrator of the benchmark, on the Monetary Authority of Singapore’s website currently at http://www.mas.gov.sg, or any successor website officially designated by the Monetary Authority of Singapore (or as published by its authorised distributors) (the “Relevant Screen Page”) on the Singapore Business Day immediately following such Singapore Business Day “i”; and
Managing Director means the Managing Director of the NIGAM (DHBVNL/UHBVNL) duly appointed by the Govt.