Common use of Automatic Canadian Base Rate Loan Request Clause in Contracts

Automatic Canadian Base Rate Loan Request. In the event that any Canadian Swing Line Loan Request for a Canadian Swing Line Loan causes the aggregate Outstanding Amount of Canadian Swing Line Loans to exceed $25,000,000 (or the Canadian Dollar Equivalent thereof) at any time, concurrently with such Canadian Swing Line Loan Request, the Canadian Borrowers shall also submit to the Canadian Agent a Canadian Loan Request for a Canadian Base Rate Loan to be made on the next Business Day in a principal amount equal to the aggregate Outstanding Amount of Canadian Swing Line Loans (provided that if the Canadian Borrowers fail to submit such Canadian Loan Request, the parties agree that each of the Canadian Borrowers shall be deemed to make, and each of the Canadian Borrowers hereby authorizes, an automatic concurrent request for a Canadian Base Rate Loan to be made on the next Business Day in a principal amount equal to the aggregate Outstanding Amount of Canadian Swing Line Loans (or the Canadian Dollar Equivalent thereof)), and the proceeds of such Canadian Base Rate Loan shall be applied as set forth in §2.14(e); provided that (a) the sum of (i) the Outstanding Amount of the Canadian Loans denominated in Dollars, plus (ii) the Outstanding Amount of the Canadian Loans denominated in Canadian Dollars, plus (iii) the Outstanding Amount of Bankers’ Acceptances then outstanding, shall not, at any time and after giving effect to all amounts requested, exceed the Total Canadian Commitment and (b) the sum of (i) the Outstanding Amount of the Canadian Loans denominated in Dollars owed to a Canadian Bank, plus (ii) the Outstanding Amount of the Canadian Loans denominated in Canadian Dollars owed to such Canadian Bank, plus (iii) the Outstanding Amount of Bankers’ Acceptances purchased by such Canadian Bank, shall not, at any time and after giving effect to all amounts requested, exceed such Canadian Bank’s Canadian Commitment.

Automatic Canadian Base Rate Loan Request. In the event that any Canadian Swing Line Loan Request for a Canadian Swing Line Loan causes the aggregate Outstanding Amount of Canadian Swing Line Loans to exceed $25,000,000 (or the Canadian Dollar Equivalent thereof) at any time, concurrently with such Canadian Swing Line Loan Request, the Canadian Borrowers shall also submit to the Canadian Agent a Canadian Loan Request for a Canadian Base Rate Loan to be made on the next Business Day in a principal amount equal to the aggregate Outstanding Amount of Canadian Swing Line Loans (provided that if the Canadian Borrowers fail to submit such Canadian Loan Request, the parties agree that each of the Canadian Borrowers shall be deemed to make, and each of the Canadian Borrowers hereby authorizes, an automatic concurrent request for a Canadian Base Rate Loan to be made on the next Business Day in a principal amount equal to the aggregate Outstanding Amount of Canadian Swing Line Loans (or the Canadian Dollar Equivalent thereof)), and the proceeds of such Canadian Base Rate Loan shall be applied as set forth in §2.14(e); provided that (ai) the sum of (iA) the Outstanding Amount of the Canadian Loans denominated in Dollars, plus (iiB) the Outstanding Amount of the Canadian Loans denominated in Canadian Dollars, plus (iiiC) the Outstanding Amount of Bankers’ Acceptances then outstanding, shall not, at any time and after giving effect to all amounts requested, exceed the Total Canadian Commitment and Commitment, (bii) the sum of (iA) the Outstanding Amount of the Canadian Loans denominated in Dollars owed to a Canadian Bank, plus (iiB) the Outstanding Amount of the Canadian Loans denominated in Canadian Dollars owed to such Canadian Bank, plus (iiiC) the Outstanding Amount of Bankers’ Acceptances purchased by such Canadian Bank, plus (D) the aggregate amount of such Canadian Bank’s participation in Canadian Swing Line Loans, shall not, at any time and after giving effect to all amounts requested, exceed such Canadian Bank’s Canadian Commitment, and (iii) the Total Outstandings shall not, at any time and after giving effect to all amounts requested, exceed the Total Commitment.