Acceptance Commitment. (i) Each Canadian Lender severally agrees, on and subject to the terms and conditions set forth herein: (A) in the case of a Canadian Lender that is able to accept Drafts from McKesson Canada, to create acceptances (each, a “Bankers’ Acceptance”) by accepting Drafts from McKesson Canada and to purchase such Bankers’ Acceptances in accordance with Section 2.04(d); and (B) in the case of a Canadian Lender that has participated all or any part of its interest in the Bankers’ Acceptance Facilities to a participant that is able to accept Drafts from McKesson Canada, to arrange for the creation of Bankers’ Acceptances by such participant and for the purchase of such Bankers’ Acceptances by such participant, to the extent of such participation or assignment, in accordance with Section 2.04(d). (ii) Each Drawing shall be in an aggregate Face Amount of not less than Cdn.$5,000,000 and in integral multiples of Cdn.$1,000,000 and shall consist of the creation and purchase of Bankers’ Acceptances on the same day, effected or arranged by the Canadian Lenders in accordance with Section 2.04(d), ratably according to their respective Canadian Pro Rata Shares. (iii) Anything contained in this Agreement to the contrary notwithstanding, the Bankers’ Acceptance Facility and the Canadian Commitments shall be subject to the following limitations: (A) the amount otherwise available for Drawing under the Aggregate Canadian Commitment as of any time of determination shall be reduced by an amount equal to the Total Canadian Outstandings as of such time of determination; (B) after any Drawing the Total Outstandings shall not exceed the Aggregate Commitments then in effect; (C) the issuance of any Bankers’ Acceptance shall not violate any policies of any Canadian Lender applicable to bankers’ acceptances and drawers generally; and (D) after any Drawing the Total Canadian Outstandings shall not exceed the Aggregate Canadian Commitments then in effect.
Appears in 4 contracts
Samples: Credit Agreement (McKesson Corp), Credit Agreement (McKesson Corp), Credit Agreement (McKesson Corp)
Acceptance Commitment. (i) Each Canadian Lender severally agrees, on and subject Subject to the terms and conditions set forth herein: (A) in the case of a , each Canadian Lender severally agrees that is able Canadian Borrower may, at any time and from time to accept Drafts from McKesson Canadatime during the Availability Period, to create acceptances (eachissue Acceptances denominated in Canadian Dollars, in minimum denominations of Cdn. $100,000 or a “Bankers’ Acceptance”) by accepting Drafts from McKesson Canada whole multiple thereof and to purchase such Bankers’ Acceptances in minimum aggregate face amounts in connection with any Notice of Drawing of Cdn. $1,000,000 or any greater whole multiple of Cdn. $100,000, each in accordance with the provisions of this Section 2.04(d); 2.03 and in an aggregate face amount that will not result in (Bi) in the case such Lender’s Applicable Percentage of a Total Canadian Lender that has participated all or any part of its interest in the Bankers’ Acceptance Facilities to a participant that is able to accept Drafts from McKesson CanadaOutstandings exceeding such Lender’s Canadian Commitment, to arrange for the creation of Bankers’ Acceptances by such participant and for the purchase of such Bankers’ Acceptances by such participant, to the extent of such participation or assignment, in accordance with Section 2.04(d).
(ii) Each Drawing shall be in an aggregate Face Amount of not less than Cdn.$5,000,000 and in integral multiples of Cdn.$1,000,000 and shall consist of the creation and purchase of Bankers’ Acceptances on the same day, effected or arranged by the Canadian Lenders in accordance with Section 2.04(d), ratably according to their respective Canadian Pro Rata Shares.
(iii) Anything contained in this Agreement to the contrary notwithstanding, the Bankers’ Acceptance Facility and the Canadian Commitments shall be subject to the following limitations:
(A) the amount otherwise available for Drawing under the Aggregate Canadian Commitment as of any time of determination shall be reduced by an amount equal to the Total Canadian Outstandings as of such time of determination;
(B) after any Drawing the Total Outstandings shall not exceed exceeding the Aggregate Commitments then in effect;
Canadian Commitments, or (Ciii) the issuance of any Bankers’ Acceptance shall not violate any policies of any Canadian Lender applicable to bankers’ acceptances and drawers generally; and
(D) after any Drawing the Total Canadian Outstandings shall not exceed exceeding an amount that equals the Aggregate Canadian Commitments Borrowing Base then in effect; provided that at all times the outstanding aggregate face amount of all Acceptances made by a Canadian Lender shall equal its Applicable Revolving Credit/Committed Loan Percentage of the outstanding face amount of all Acceptances made by all Canadian Lenders. For purposes of this Agreement, the full face value of an Acceptance, without discount, shall be used when calculations are made to determine the outstanding amount of a Canadian Lender’s Acceptances; provided that in computing the face amount of Acceptances outstanding, the face amount of an Acceptance in respect of which the Obligations with respect to such Acceptance have been cash collateralized by Canadian Borrower and received by Canadian Lender that created the same in accordance with the terms of this Agreement shall not be included.
Appears in 2 contracts
Samples: Credit Agreement (Castle a M & Co), Credit Agreement (Castle a M & Co)
Acceptance Commitment. (i1) Each Facility A Canadian Lender Bank severally agrees, on and subject to the terms and conditions set forth herein: (Ai) in the case of a Facility A Canadian Lender Bank that is able to accept Drafts from McKesson CanadaMedis, to create acceptances (each, a “"Bankers’ ' Acceptance”") by accepting Drafts from McKesson Canada Medis and to purchase such Bankers’ ' Acceptances in accordance with Section 2.04(d2.18(d); and (Bii) in the case of a Facility A Canadian Lender Bank that has participated all or any part of its interest in the Bankers’ ' Acceptance Facilities to a participant that which is able to accept Drafts from McKesson CanadaMedis, to arrange for the creation of Bankers’ ' Acceptances by such participant and for the purchase of such Bankers’ ' Acceptances by such participant, to the extent of such participation or assignment, in accordance with Section 2.04(d2.18(d). The Total Utilization of Facility A Commitments after any Drawing shall not exceed the combined Facility A Commitments then in effect.
(ii2) Each Drawing shall be in an aggregate Face Amount of not less than Cdn.$5,000,000 and in integral multiples of Cdn.$1,000,000 and shall consist of the creation and purchase of Bankers’ ' Acceptances or the purchase of Drafts on the same day, effected or arranged by the Canadian Lenders Facility A Banks in accordance with Section 2.04(d2.18(d), ratably according to their respective Canadian Facility A Pro Rata Shares.
(iii3) Anything contained in this Agreement to the contrary notwithstanding, the Bankers’ ' Acceptance Facility and the Canadian Commitments Facility A Loan Commitment shall be subject to the following limitations:
(Ai) the The amount otherwise available for Drawing under the Aggregate Canadian Facility A Commitment as of any time of determination shall be reduced by an amount equal to the Total Canadian Outstandings sum of the outstanding Facility A Loans and the Acceptance Usage as of such time of determination;
(Bii) after any Drawing the The Total Outstandings Utilization of Facility A Canadian Commitments shall not exceed the Aggregate combined Facility A Canadian Commitments then in effect;
(C) of the issuance of any Bankers’ Acceptance shall not violate any policies of any Canadian Lender applicable to bankers’ acceptances and drawers generallyFacility A Banks; and
(Diii) after any Drawing the The Total Canadian Outstandings Utilization of Facility A Commitments shall not exceed the Aggregate Canadian Facility A Commitments then in effect.
Appears in 1 contract
Samples: Credit Agreement (McKesson Hboc Inc)
Acceptance Commitment. (i) Each Canadian Lender severally agrees, on and subject to the terms and conditions set forth herein: (A) in the case of a Canadian Lender that is able to accept Drafts from McKesson Canada, to create acceptances (each, a “"Bankers’ ' Acceptance”") by accepting Drafts from McKesson Canada and to purchase such Bankers’ ' Acceptances in accordance with Section 2.04(d); and (B) in the case of a Canadian Lender that has participated all or any part of its interest in the Bankers’ ' Acceptance Facilities to a participant that is able to accept Drafts from McKesson Canada, to arrange for the creation of Bankers’ ' Acceptances by such participant and for the purchase of such Bankers’ ' Acceptances by such participant, to the extent of such participation or assignment, in accordance with Section 2.04(d).
(ii) Each Drawing shall be in an aggregate Face Amount of not less than Cdn.$5,000,000 and in integral multiples of Cdn.$1,000,000 and shall consist of the creation and purchase of Bankers’ ' Acceptances on the same day, effected or arranged by the Canadian Lenders in accordance with Section 2.04(d), ratably according to their respective Canadian Pro Rata Shares.
(iii) Anything contained in this Agreement to the contrary notwithstanding, the Bankers’ ' Acceptance Facility and the Canadian Commitments shall be subject to the following limitations:
(A) the amount otherwise available for Drawing under the Aggregate Canadian Commitment as of any time of determination shall be reduced by an amount equal to the Total Canadian Outstandings as of such time of determination;
(B) after any Drawing the Total Outstandings shall not exceed the Aggregate Commitments then in effect;
(C) the issuance of any Bankers’ Acceptance shall not violate any policies of any Canadian Lender applicable to bankers’ acceptances and drawers generally; and
(DC) after any Drawing the Total Canadian Outstandings shall not exceed the Aggregate Canadian Commitments then in effect.
Appears in 1 contract
Samples: Credit Agreement (McKesson Corp)
Acceptance Commitment. (i) Each Canadian Lender severally agrees, on and subject to the terms and conditions set forth herein: (A) in the case of a Canadian Lender that is able to accept Drafts from McKesson Canada, to create acceptances (each, a “Bankers’ Acceptance”) by accepting Drafts from McKesson Canada and to purchase such Bankers’ Acceptances in accordance with Section 2.04(d); and (B) in the case of a Canadian Lender that has participated all or any part of its interest in the Bankers’ Acceptance Facilities to a participant that is able to accept Drafts from McKesson Canada, to arrange for the creation of Bankers’ Acceptances by such participant and for the purchase of such Bankers’ Acceptances by such participant, to the extent of such participation or assignment, in accordance with Section 2.04(d).
(ii) Each Drawing shall be in an aggregate Face Amount of not less than Cdn.$5,000,000 and in integral multiples of Cdn.$1,000,000 and shall consist of the creation and purchase of Bankers’ Acceptances on the same day, effected or arranged by the Canadian Lenders in accordance with Section 2.04(d), ratably according to their respective Canadian Pro Rata Shares.
(iii) Anything contained in this Agreement to the contrary notwithstanding, the Bankers’ Acceptance Facility and the Canadian Commitments shall be subject to the following limitations:
(A) the amount otherwise available for Drawing under the Aggregate Canadian Commitment as of any time of determination shall be reduced by an amount equal to the Total Canadian Outstandings as of such time of determination;
(B) after any Drawing the Total Outstandings shall not exceed the Aggregate Commitments then in effect;
(C) the issuance of any Bankers’ Acceptance shall not violate any policies of any Canadian Lender applicable to bankers’ acceptances and drawers generally; and
(DC) after any Drawing the Total Canadian Outstandings shall not exceed the Aggregate Canadian Commitments then in effect.
Appears in 1 contract
Samples: Credit Agreement (McKesson Corp)