Discounted Proceeds definition

Discounted Proceeds means, with respect to any issue of Acceptances, an amount (rounded to the nearest whole cent and with one-half of one cent being rounded up) calculated by multiplying:

Discounted Proceeds means, in respect of any Bankers’ Acceptance to be accepted and purchased by a Lender hereunder on any day, an amount (rounded to the nearest whole cent, and with one-half of one cent being rounded up) calculated on such day by multiplying (i) the face amount of such Bankers’ Acceptance by (ii) the price (rounded up or down to the fifth decimal place with 0.000005 being rounded up), where the price is determined by dividing one by the sum of one plus the product of (A) the Discount Rate (expressed as a decimal) and (B) a fraction, the numerator of which is the number of days in the term of such Bankers’ Acceptance and the denominator of which is 365.

Discounted Proceeds means in respect of any Bankers' Acceptance to be accepted and purchased by a Lender hereunder on any day, an amount (rounded to the nearest whole cent, and with one-half of one cent being rounded up) calculated on such day by multiplying (i) the face amount of such Bankers' Acceptance by (ii) the price, where the price is determined by dividing one by the sum of one plus the product of (A) the Discount Rate (expressed as a decimal) and (B) a fraction, the numerator of which is the number of days in the term of such Bankers' Acceptance and the denominator of which is 365.

Examples of Discounted Proceeds in a sentence

• The acceptance fee will be calculated on the face amount of the applicable Acceptance for the number of days included in the period of same and will be deducted from the Discounted Proceeds of such Acceptance, as provided to in Section 3.2.

• Before 2:00 p.m. on the date of the requested advance by way of Bankers’ Acceptances, provided the Discounted Proceeds applicable to such Bankers’ Acceptances have been paid by the Lenders to the Agent in accordance with the Interlender Agreement, an amount equal to such Discounted Proceeds shall be deposited into the relevant Borrower’s Account by the Agent in accordance with the provisions of the Interlender Agreement.

• In payment of the Stamping Fee payable in connection with any BA, the Lender shall retain from the Discounted Proceeds relating to such BA an amount equal to such Stamping Fee.

• Each Lender shall purchase the Bankers’ Acceptances which it has accepted for a purchase price equal to the BA Discounted Proceeds therefor.

• Upon each issue of Bankers' Acceptances as a result of the conversion of outstanding Borrowings into Bankers' Acceptances or renewal of Bankers' Acceptances, the Borrower shall, concurrently with the conversion, pay in advance to the Administrative Agent on behalf of the Lenders, the amount by which the face value of such Bankers' Acceptances exceeds the Discounted Proceeds of such Bankers' Acceptances, to be applied against the principal amount of the Borrowing being so converted.

More Definitions of Discounted Proceeds

Discounted Proceeds of any Advance means the net proceeds of such Advance transferred or wired to you or to your account in accordance with the last sentence of Paragraph 3 hereof.

Discounted Proceeds of any Bill means the amount calculated with reference to the Yield Rate for the relevant Rollover Period and the Face Value of the relevant Bill using the following formula:

Discounted Proceeds means in respect of any Bankers' Acceptance to be accepted and purchased by a Canadian Lender hereunder on any day, an amount (rounded to the nearest whole Canadian cent, and with one-half of one cent being rounded up) calculated on such day by multiplying (i) the face amount of such Bankers' Acceptance by (ii) the price, where the price is determined by dividing one by the sum of one plus the product of (A) the Discount Rate (expressed as a decimal) and (B) a fraction, the numerator of which is the number of days in the term of such Bankers' Acceptance and the denominator of which is 365 or 366, as the case may be, with such product being rounded up or down to the fifth decimal place and .000005 being rounded up.

Discounted Proceeds means, with respect to any Canadian Bankers Acceptance to be purchased by a Canadian Lender, an amount (rounded to the nearest whole Canadian cent, and with one-half of one Canadian cent being rounded up) calculated on the day of such purchase by multiplying (i) the face amount of such Canadian Bankers Acceptance times (ii) the quotient equal to (such quotient being rounded up or down to the nearest fifth decimal place and .000005 being rounded up) (a) one divided by (b) the sum of (1) one plus (2) the product of (A) the Discount Rate (expressed as a decimal) applicable to such Canadian Bankers Acceptance times (B) the quotient equal to (x) the term to maturity of such Canadian Bankers Acceptance divided by (y) the number of days in the calendar year in which such Canadian Bankers Acceptance is to mature.

Discounted Proceeds means in respect of any Bankers' Acceptance to be accepted by a Canadian Facility Lender which is a bank governed by the Bank Act on any day, an amount (rounded to the nearest whole cent, and with one-half of one cent being rounded up) calculated on such day by multiplying:

Discounted Proceeds means, with respect to any issue of BAs, an amount (rounded to the nearest whole cent and with one-half of one cent being rounded up) calculated by multiplying:

Discounted Proceeds means, with respect to any BA, an amount equal to the result of the following mathematical formula, rounded to the nearest whole cent: where,