Canadian Rate definition

Canadian Rate means, at any time the aggregate of (a) the rate of interest per annum equal to the higher of (i) the fluctuating annual rate of interest established by the Administrative Agent as the reference rate of interest it will use at such time to determine interest rates for loans in Canadian dollars to its Canadian commercial borrowers in Canada and designated as its prime rate; and (ii) the annual rate of interest established by the Administrative Agent to be the discount rate, calculated on the basis of a year of 365 days, of the Administrative Agent established in accordance with its normal practice as at or about 10:00 a.m. (Toronto time) on such day in respect to bankers’ acceptances outstanding for 30 days accepted by it, plus 1.0% per annum plus, (b) the Applicable Margin; adjusted automatically with each change in such rate, all without the necessity of any notice to the Canadian Borrower or any other Person; provided that if the discount rate determined pursuant to clause (a)(ii) of this definition would be less than 0%, such rate shall be deemed to be 0% for the purposes of this Agreement.
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Canadian Rate means, at any time, the higher of (i) the Prime Rate and (ii) the annual rate of interest established by the Bank as its discount rate in accordance with its normal practice as at or about 10:00 a.m., Montreal time on such day in respect to BAs outstanding for thirty days accepted by the Bank, plus one percent per annum.
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Canadian Rate means the rate agreed to by The Bank of Nova Scotia and the Company.
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Examples of Canadian Rate in a sentence

  • On each Interest Payment Date in respect of the Canadian Rate Loan, the Borrower shall pay the Administrative Agent interest on the Canadian Rate Loan at the Canadian Rate.

  • The Borrower acknowledges, agrees and confirms with the Lenders that the records of each Lender in respect of payment of any Bankers' Acceptance by such Lender shall be binding on the Borrower and shall be conclusive evidence (in the absence of manifest error) of a Canadian Rate Advance to the Borrower and of an amount owing by the Borrower to such Lender.

  • The provisions of this Agreement relating to XXXXX Advances, Canadian Rate Advances, US Base Rate Advances, Term SOFR Advances and Acceptances shall apply mutatis mutandis to Conversion Advances comprising XXXXX Advances, Canadian Rate Advances, US Base Rate Advances, Term SOFR Rate Advances and Acceptances, respectively.

  • The applicable rate of interest for the Canadian Rate Loan will change simultaneously with any change in the Canadian Rate or the Applicable Margin.

  • All sums disbursed by the Administrative Agent in connection with any such actions, including, without limitation, court costs, expenses, other charges relating thereto and reasonable attorneys' fees, shall be payable on demand by such Obligor to the Administrative Agent, for its own account and, until paid, shall bear interest at the US Base Rate, if owing in US Dollars, or the Canadian Rate if Owing in Canadian Dollars or in any other currencies.


More Definitions of Canadian Rate

Canadian Rate means the annual rate of interest which is at any time equal to the aggregate of (a) the fluctuating annual rate of interest established from time to time by the Lender as the base it will use at such time to determine rates of interest on CDollar loans to customers in Canada and designated as its prime rate plus (b) one and one-half of one percent (1 1/2%); 1.1.11 "CDOLLARS" and the symbol: "C$" each means lawful money of Canada; 1.1.12 "CREDIT FACILITIES" - means each of the credit facilities (including the Term Loan) which the Lender will make available to the Borrower pursuant to the Letter of Offer, as same may be increased, decreased, renewed, restated or otherwise modified or replaced from time to time, together with any other credit facilities which may be granted from time to time by the Lender to the Borrower;
Sample 1
Canadian Rate means, at any time, the rate of interest per annum equal to the greater of (i) the per annum rate of interest quoted, published and commonly known as the "prime rate" of the Administrative Agent which the Administrative Agent establishes in Canada as the reference rate of interest in order to determine interest rates for loans in Canadian dollars to its Canadian commercial borrowers; and (ii) the rate per annum determined by the Administrative Agent for one month bankers' acceptances as appears on the Reuters Screen CDOR (Canadian Deposit Offered Rate) page, plus 3/4 of 1% per annum, the whole as determined as at 10:00 a.m. (Montreal time), on the relevant Business Day (provided that, for non-Business Days, and if no CDOR rate is available for a given Business Day, the CDOR rate for the immediately previous Business Day for which a CDOR rate is available shall be used); in each case adjusted automatically with each quoted or published change in such rate, all without the necessity of any notice to the Borrower or any other Person.
Sample 1
Canadian Rate means, at any time the aggregate of (a) the rate of interest per annum equal to the higher of (i) the fluctuating annual rate of interest established by the Administrative Agent as the reference rate of interest it will use at such time to determine interest rates for loans in Canadian dollars to its Canadian commercial borrowers in Canada and designated as its prime rate; and (ii) the annual rate of interest established by the Administrative Agent to be the discount rate, calculated on the basis of a year of 365
Sample 1
Canadian Rate means, at any time the aggregate of (a) the rate of interest per annum equal to the higher of (i) the fluctuating annual rate of interest established by the Administrative Agent as the reference rate of interest it will use at such time to determine interest rates for loans in Canadian dollars to its Canadian commercial borrowers in Canada and designated as its prime rate; and (ii) CDOR Rate, plus 1.00% per annum plus, (b) the Applicable Margin; in each case adjusted automatically with each change in such rate or the Applicable Margin, all without the necessity of any notice to the Borrower or any other Person.
Sample 1

Related to Canadian Rate

  • Canadian Base Rate means the rate determined by the Agent as the higher of (i) the annual rate of interest announced by the Agent (or any of its branches) as being its “prime rate” for determining interest rates on Canadian Dollar-denominated commercial loans made by it in Canada and (ii) the BA Rate (after giving effect to any minimum rate set forth in the definition thereof) for a one month BA Interest Period commencing on such day (or, if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • Canadian Dollar Equivalent of any amount which is expressed in United States Dollars means, on any date, the Canadian dollar equivalent of such amount determined by multiplying such amount by the U.S. - Canadian Exchange Rate in effect on such date;

  • Canadian Dollar means the lawful currency of Canada.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.

  • CDOR Rate is defined in the definition of “Eurocurrency Rate” herein.

  • Dollar Equivalent means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in any Alternative Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent or the L/C Issuer, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of Dollars with such Alternative Currency.

  • Euro-Dollar Rate means a rate of interest determined pursuant to Section 2.07 on the basis of an Adjusted London Interbank Offered Rate.

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • Canadian Dollars means the lawful currency of Canada.

  • U.S.-Canadian Exchange Rate means, on any date:

  • Canadian Availability means, at any time, an amount equal to (a) the lesser of (i) the aggregate Canadian Revolving Commitments at such time and (ii) the Canadian Borrowing Base at such time, minus (b) Commitment Reserves established with respect to the Canadian Loan Parties and/or the Canadian Collateral at such time minus (c) the Aggregate Canadian Credit Exposure at such time.

  • U.S. Dollar Equivalent means, on any date of determination, (a) with respect to any amount in US Dollars, such amount, and (b) with respect to any amount in any Alternative Currency, the equivalent in US Dollars of such amount, determined by the Administrative Agent pursuant to Section 1.05 using the Exchange Rate with respect to such Alternative Currency at the time in effect under the provisions of such Section.

  • Canadian Loan means an extension of credit by a Canadian Lender to the Canadian Borrower under Article II in the form of a Committed Loan or a Swing Line Loan.

  • Foreign Currency LC Exposure means, at any time, the sum of (a) the Dollar Amount of the aggregate undrawn and unexpired amount of all outstanding Foreign Currency Letters of Credit at such time plus (b) the aggregate principal Dollar Amount of all LC Disbursements in respect of Foreign Currency Letters of Credit that have not yet been reimbursed at such time.

  • Swing Line Rate means, (a) in respect of Swing Line Loans made in US Dollars or any Alternate Currency other than Canadian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in the relevant currency for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas London to major banks in the London or other offshore interbank market for such currency at their request at approximately 11:00 a.m. (London time) on the first day of such Swing Line Loan and (ii) the Applicable Rate, (b) in the case of Swing Line Loans made in Canadian Dollars, the sum of (i) the Canadian Prime Rate and (ii) the Applicable Rate and (c) in the case of Swing Line Loans made in Australian Dollars, for any Interest Period, the sum of (i) the rate per annum determined by the applicable Swing Line Agent as the rate of interest (rounded upward to the next 1/100th of 1%) at which deposits in Australian Dollars for delivery on the first day of such Swing Line Loan in Same Day Funds in the approximate amount of the Swing Line Loan being made by such Swing Line Agent (or its affiliate) and with a term equivalent to such Interest Period would be offered by BNP Paribas, Sydney Branch to major banks in Sydney at their request at approximately 11:00 a.m. (Sydney time) on the first day of such Swing Line Loan and (ii) the Applicable Rate.

  • Dollar Equivalent Amount means (i) with respect to any amount of Alternate Currency on any day, the equivalent amount in Dollars of such amount of Alternate Currency as determined by the Administrative Agent using the applicable Exchange Rate on such day and (ii) with respect to any amount of Dollars, such amount.

  • Canadian Base Rate Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Canadian Base Rate in accordance with the provisions of Article II.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Euro-Dollar Reserve Percentage has the meaning set forth in Section 2.06(c).

  • FX Rate means the “noon exchange rate” as reported by the Bank of Canada on any relevant date or if applicable, the rate calculated by the Calculation Agent, between the Canadian dollar and the foreign currencies into which some Reference Shares are denominated, expressed as the amount of Canadian dollars per one unit of foreign currency.

  • Applicable Multicurrency Percentage means, with respect to any Multicurrency Lender, the percentage of the total Multicurrency Commitments represented by such Multicurrency Lender’s Multicurrency Commitment. If the Multicurrency Commitments have terminated or expired, the Applicable Multicurrency Percentages shall be determined based upon the Multicurrency Commitments most recently in effect, giving effect to any assignments.