Common use of BA Equivalent Advances Clause in Contracts

BA Equivalent Advances. In the event a Canadian Lender is unable to accept Banker's Acceptances other than under the circumstances set forth in Section 2.18(d), such Canadian Lender shall have the right at the time of accepting drafts to require the Canadian Borrower to accept a Canadian Advance in Canadian Dollars from such Canadian Lender in lieu of the issue and acceptance of a Banker's Acceptance (a "BA Equivalent Advance") requested by the Canadian Borrower to be accepted so that there shall be outstanding while the Banker's Acceptances are outstanding BA Equivalent Advances from such Canadian Lender as contemplated herein. The principal amount of each BA Equivalent Advance shall be that amount which, when added to the face amount of interest (calculated at the applicable Discount Rate) which will accrue during the BA Equivalent Interest Period shall be equal, at maturity, to the face amount of the drafts which would have been accepted by such applicable Canadian Lender had it accepted Banker's Acceptances (it being the intention of the parties that each such BA Equivalent Advance have the same economic consequences for the Canadian Lenders and the Canadian Borrower as the Banker's Acceptance which such BA Equivalent Advance replaces). The "BA Equivalent Interest Period" for each BA Equivalent Advance shall be equal to the term of the drafts presented for acceptance as Banker's Acceptances on the relevant date of Borrowing. On the relevant date of Borrowing, the Canadian Borrower shall pay to the Canadian Agent a fee equal to the Acceptance Fee which would have been payable to such Canadian Lender if it were a Canadian Lender accepting drafts having a term to maturity equal to the applicable BA Equivalent Interest Period and an aggregate face amount equal to the sum of the principal amount of the BA Equivalent Advance and the interest payable thereon by the Canadian Borrower for the applicable BA Equivalent Interest Period. The provisions of this Agreement dealing with Banker's Acceptances shall apply, mutatis mutandis, to BA Equivalent Advances.

BA Equivalent Advances. In If a Lender does not customarily accept Drafts for the event purpose of subsequent sale as a Canadian Lender is unable to accept Banker's Acceptances other than under the circumstances set forth in Section 2.18(dbankers' acceptance (a "Non-Acceptance Lender"), each time the Borrower gives a Borrowing Request for an issue of Acceptances, such Canadian Non-Acceptance Lender shall have the right at the time shall, in lieu of accepting drafts and purchasing Acceptances pursuant to require the Canadian Borrower Section 5.5, either purchase Discount Notes pursuant to accept Section 5.11 or make a Canadian Advance loan advance in Canadian Dollars from such Canadian Lender in lieu of to the issue and acceptance of a Banker's Acceptance Borrower (a "BA Equivalent Advance") requested in the amount equal to the Net Acceptance Proceeds which would be derived from a hypothetical sale of Drafts accepted by it ("Notional Acceptances") in the Canadian Borrower to be accepted so that there shall be outstanding while the Banker's Acceptances are outstanding BA Equivalent Advances from such Canadian Lender as contemplated herein. The principal aggregate face amount of each its Rateable Share of such requested issue of Acceptances at a discount rate that yields to such Non-Acceptance Lender (excluding the Stamping Fee) an interest rate per annum equal to such Non-Acceptance Lender's BA Reference Rate. Any BA Equivalent Advance shall be that amount which, when added repayable on the Period End Date of such issue of Acceptances. A Non-Acceptance Lender shall be entitled to deduct from the face amount of interest (calculated at the applicable Discount Rate) which will accrue during the BA Equivalent Interest Period shall be equal, at maturity, to the face amount of the drafts which would have been accepted by such applicable Canadian Lender had it accepted Banker's Acceptances (it being the intention of the parties that each such its BA Equivalent Advance have to be remitted to the same economic consequences for the Canadian Lenders and the Canadian Borrower as the Banker's Acceptance which such BA Equivalent Advance replaces). The "BA Equivalent Interest Period" for each BA Equivalent Advance shall be Agent pursuant to Subsection 5.5.2 an amount equal to the term of the drafts presented for acceptance as Banker's Acceptances on the relevant date of Borrowing. On the relevant date of Borrowing, the Canadian Borrower shall pay to the Canadian Agent a fee equal to the Acceptance Stamping Fee which determined in accordance with Section 5.6 that would have been payable to such Canadian Lender if it were a Canadian Lender accepting drafts having a term to maturity equal with respect to the applicable BA Equivalent Interest Period and an aggregate face amount equal Notional Acceptances corresponding to the sum of the principal amount of the BA Equivalent Advance and Advance. For the interest payable thereon by the Canadian Borrower for the applicable BA Equivalent Interest Period. The provisions purposes of this Agreement dealing with Banker's each reference to Acceptances shall applybe deemed to include, mutatis mutandiswhere relevant, to BA Equivalent Advances, with the necessary changes being made to fit the context.

BA Equivalent Advances. In the event If a Canadian Revolving Lender is unable to does not customarily accept Banker's Acceptances other than under Drafts for the circumstances set forth in Section 2.18(dpurpose of subsequent sale as a bankers’ acceptance (a “Non-Acceptance Lender”), each time Cognos gives a Borrowing Request for an issue of Acceptances, such Canadian Non-Acceptance Lender shall have the right at the time shall, in lieu of accepting drafts and purchasing Acceptances pursuant to require the Canadian Borrower Section 6.6, either purchase Discount Notes pursuant to accept Section 6.12 or make a Canadian Advance loan advance in Canadian Dollars from such Canadian Lender in lieu of the issue and acceptance of a Banker's Acceptance to Cognos (a "“BA Equivalent Advance"”) on the proposed Borrowing Date in the amount equal to the Net Acceptance Proceeds which would be derived from a hypothetical sale of Drafts accepted by that Non-Acceptance Lender (“Notional Acceptances”) in the aggregate face amount equal to its Rateable Share of such requested by issue of Acceptances at a discount rate that yields to that Non-Acceptance Lender (excluding the Canadian Borrower Stamping Fee) an interest rate per annum equal to be accepted so that there shall be outstanding while Non-Acceptance Lender’s BA Reference Rate for the Banker's Acceptances are outstanding BA Equivalent Advances from applicable Term of such Canadian Lender as contemplated hereinNotional Acceptances. The principal amount of each Any BA Equivalent Advance shall be that amount which, when added repayable on the Period End Date of such issue of Acceptances. A Non-Acceptance Lender shall be entitled to deduct from the face amount of interest (calculated at the applicable Discount Rate) which will accrue during the BA Equivalent Interest Period shall be equal, at maturity, to the face amount of the drafts which would have been accepted by such applicable Canadian Lender had it accepted Banker's Acceptances (it being the intention of the parties that each such its BA Equivalent Advance have the same economic consequences for the Canadian Lenders and the Canadian Borrower as the Banker's Acceptance which such BA Equivalent Advance replaces). The "BA Equivalent Interest Period" for each BA Equivalent Advance shall to be equal to the term of the drafts presented for acceptance as Banker's Acceptances on the relevant date of Borrowing. On the relevant date of Borrowing, the Canadian Borrower shall pay remitted to the Canadian Agent a fee pursuant to Subsection 6.6.2 an amount equal to the Acceptance Stamping Fee which determined in accordance with Section 6.7 that would have been payable to such Canadian Lender if it were a Canadian Lender accepting drafts having a term had it accepted the Notional Acceptances corresponding to maturity equal to the applicable BA Equivalent Interest Period and an aggregate face amount equal to the sum of the principal amount of the BA Equivalent Advance and the interest payable thereon by the Canadian Borrower for the applicable BA Equivalent Interest Period. The provisions of this Agreement dealing with Banker's Acceptances shall apply, mutatis mutandis, to BA Equivalent AdvancesAdvance.

BA Equivalent Advances. In the event a Canadian If an Operating Lender is unable to not permitted by Applicable Law to, or does not by virtue of customary market practice, accept Banker's Acceptances other than under Drafts for the circumstances set forth in Section 2.18(dpurpose of subsequent sale as bankers’ acceptances (a “Non-Acceptance Lender”), each time the Borrower gives a Borrowing Request for an issue of Acceptances, such Canadian Non-Acceptance Lender shall have the right at the time shall, in lieu of accepting drafts and purchasing Acceptances pursuant to require the Canadian Borrower Section 4.6, either purchase Discount Notes pursuant to accept Section 4.12 or make a Canadian Advance loan advance in Canadian Dollars from such Canadian Lender in lieu for the account of the issue and acceptance of a Banker's Acceptance Borrower (a "“BA Equivalent Advance"”) requested in the amount equal to the Acceptance Proceeds which would be derived from a hypothetical sale of Drafts accepted by it (“Notional Acceptances”) in the Canadian Borrower to be accepted so that there shall be outstanding while the Banker's Acceptances are outstanding BA Equivalent Advances from such Canadian Lender as contemplated herein. The principal aggregate face amount of each its Rateable Share of such requested issue of Acceptances at a discount rate that yields to such Non-Acceptance Lender (excluding the Stamping Fee) an interest rate per annum equal to such Non-Acceptance Lender’s BA Reference Rate for the applicable Term of such Acceptances. Any BA Equivalent Advance shall be that amount which, when added repayable on the maturity of such issue of Acceptances. A Non-Acceptance Lender shall be entitled to deduct from the face amount of interest (calculated at the applicable Discount Rate) which will accrue during the BA Equivalent Interest Period shall be equal, at maturity, to the face amount of the drafts which would have been accepted by such applicable Canadian Lender had it accepted Banker's Acceptances (it being the intention of the parties that each such its BA Equivalent Advance have to be remitted to the same economic consequences for the Canadian Lenders and the Canadian Borrower as the Banker's Acceptance which such BA Equivalent Advance replaces). The "BA Equivalent Interest Period" for each BA Equivalent Advance shall be Administration Agent pursuant to Section 4.6(b) an amount equal to the term of the drafts presented for acceptance as Banker's Acceptances on the relevant date of Borrowing. On the relevant date of Borrowing, the Canadian Borrower shall pay to the Canadian Agent a fee equal to the Acceptance Stamping Fee which determined in accordance with Section 4.7 that would have been payable to such Canadian Lender if it were a Canadian Lender accepting drafts having a term to maturity equal with respect to the applicable BA Equivalent Interest Period and an aggregate face amount equal Notional Acceptances corresponding to the sum of the principal amount of the BA Equivalent Advance and Advance. For the interest payable thereon by the Canadian Borrower for the applicable BA Equivalent Interest Period. The provisions purposes of this Agreement dealing with Banker's each reference to an issue of Acceptances shall applybe deemed to include, mutatis mutandiswhere relevant, to BA Equivalent Advances, with the necessary changes being made to fit the context.