Common use of Acceptances and Drafts Clause in Contracts

Acceptances and Drafts. Each Canadian Lender severally agrees, on the terms and conditions of this Agreement and from time to time on any Business Day prior to the date which is thirty (30) days prior to the respective RCF Maturity Date (A) in the case of any Canadian Lender which is not a Non BA Lender, to create Bankers’ Acceptances by accepting Drafts and to purchase such Bankers’ Acceptances in accordance with subsection 4.6(c)(iv) and (B) in the case of a Non BA Lender, to purchase completed Drafts (which have not and will not be accepted by such Lender or any other Canadian Lender) in accordance with subsection 4.6(c)(iv).

Appears in 1 contract

Samples: Credit Agreement (RSC Equipment Rental, Inc.)

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Acceptances and Drafts. Each Canadian Lender severally agrees, on the terms and conditions of this Agreement and from time to time on any Business Day prior to the date which is thirty (30) 30 days prior to the respective RCF Maturity Date (A) in the case of any Canadian Lender which is not a Non BA Lender, to create Bankers' Acceptances by accepting Drafts and to purchase such Bankers' Acceptances in accordance with subsection 4.6(c)(iv) ), and (B) in the case of a Non BA Lender, to purchase completed Drafts (which have not and will not be accepted by such Lender or any other Canadian Lender) in accordance with subsection 4.6(c)(iv).

Appears in 1 contract

Samples: Credit Agreement (RSC Holdings Inc.)

Acceptances and Drafts. Each Canadian Lender severally agrees, on the terms and conditions of this Agreement and from time to time on any Business Day prior to the date which is thirty (30) 30 days prior to the respective RCF Maturity Date (A) in the case of any Canadian Lender which is not a Non BA Lender, to create Bankers’ Acceptances by accepting Drafts and to purchase such Bankers’ Acceptances in accordance with subsection 4.6(c)(iv) ), and (B) in the case of a Non BA Lender, to purchase completed Drafts (which have not and will not be accepted by such Lender or any other Canadian Lender) in accordance with subsection 4.6(c)(iv).

Appears in 1 contract

Samples: The Credit Agreement (RSC Holdings Inc.)

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Acceptances and Drafts. Each Canadian RCF Lender severally agrees, on the terms and conditions of this Agreement and from time to time on any Business Day prior to the date which is thirty (30) days prior to the respective RCF then latest Maturity Date with respect to Canadian RCF Commitments (A) in the case of any Canadian RCF Lender which is not a Non BA Lender, to create Bankers’ Acceptances by accepting Drafts and to purchase such Bankers’ Acceptances in accordance with subsection 4.6(c)(iv) and (B) in the case of a Non BA Lender, to purchase completed Drafts (which have not and will not be accepted by such Lender or any other Canadian RCF Lender) in accordance with subsection 4.6(c)(iv).

Appears in 1 contract

Samples: Credit Agreement (RSC Equipment Rental, Inc.)

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