Common use of Availability of Canadian Loans Clause in Contracts

Availability of Canadian Loans. (a) During the Interim Period, US$15,000,000 (or the Canadian Dollar Equivalent thereof) of the Canadian Revolving Commitment (the “Interim Canadian Revolving Commitment”) shall be available to the Canadian Borrower and the U.S. Borrower (subject to compliance with the Canadian Borrowing Base and the terms, conditions and covenants described in this Agreement). (b) On the first Business Day after the expiration of the Interim Period, the entire Canadian Revolving Commitment shall be available to the Canadian Borrower and the U.S. Borrower (subject to compliance with the Canadian Borrowing Base and the terms, conditions and covenants in this Agreement). (c) Notwithstanding any other provision of this Agreement to the contrary, (i) Total Canadian Outstandings shall not at any time exceed the Canadian Borrowing Base and (ii) Canadian Revolving Credit Utilization shall not at any time exceed (x) prior to the expiration of the Interim Period, the Interim Canadian Revolving Commitment, and (y) from and after the expiration of the Interim Period, the Canadian Revolving Commitment (as such Canadian Revolving Commitment may be reduced from time to time pursuant to the terms of this Agreement), and no Loan shall be made or Letter of Credit issued in violation of the foregoing.