Common use of Bankers' Acceptances in Blank Clause in Contracts

Bankers' Acceptances in Blank. To facilitate the acceptance of Bankers' Acceptances under this Agreement, the Borrowers shall, upon execution of this Agreement, if so requested by a Lender, and from time to time as required, provide to that Lender Bankers' Acceptances substantially in the form as may be acceptable to that Lender duly executed and endorsed in blank by the Borrower, in quantities sufficient for that Lender to fulfill its obligations under this Agreement or, if so requested by a Lender, provide to that Lender, with a copy to the Agent, a power of attorney substantially in the form of Schedule O executed by the Borrower in favour of that Lender authorizing that Lender to execute drafts in the form attached thereto. If Bankers' Acceptances have been provided to a Lender duly executed and endorsed in blank by the Borrower, that Lender is hereby authorized to issue Bankers' Acceptances endorsed in blank in face amounts as may be determined by the Borrower provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' Acceptances required to be accepted by the Lender. No Lender shall be responsible or liable for its failure to accept a Bankers' Acceptance as required under this Agreement if the cause of the failure is, in whole or in part, due to the failure of the Borrower to provide to the Lender on a timely basis a sufficient number of duly executed Bankers' Acceptances or a duly executed power of attorney, as applicable, nor shall any Lender be liable for any damage, loss or other claim arising by reason of any loss or improper use of any Bankers' Acceptance except a loss or improper use arising by reason of the gross negligence or wilful misconduct of the Lender or its employees.

Bankers' Acceptances in Blank. To facilitate the acceptance of Bankers' ’ Acceptances under this Agreement, the Borrowers Borrower shall, upon execution of this Agreement, if so requested by becoming a Lender, party hereto and from time to time as required, provide to that each Lender Bankers' Acceptances substantially drafts (“Drafts”), in the form as may be acceptable satisfactory to that Lender such Lender, duly executed and endorsed in blank by the Borrower, in quantities sufficient for that each Lender to fulfill fulfil its obligations under this Agreement or, if so requested by a Lender, provide to that Lender, with a copy to the Agent, a power of attorney substantially in the form of Schedule O executed by the Borrower in favour of that Lender authorizing that Lender to execute drafts in the form attached theretohereunder. If Bankers' Acceptances have been provided to a Lender duly executed and endorsed in blank by the Borrower, that Each Lender is hereby authorized to issue accept such Bankers' ’ Acceptances endorsed in blank in such face amounts as may be determined by the Borrower such Lender provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' ’ Acceptances required to be accepted by the such Lender. No Lender shall be responsible or liable for its failure to accept a Bankers' ’ Acceptance as required under this Agreement if the cause of the such failure is, in whole or in part, due to the failure of the Borrower to provide duly executed and endorsed Drafts to the such Lender on a timely basis a sufficient number of duly executed Bankers' Acceptances or a duly executed power of attorney, as applicablebasis, nor shall any Lender be liable for any damage, loss or other claim arising by reason of any loss or improper use of any Bankers' Acceptance such instrument except a loss or improper use arising by reason of the gross negligence or wilful misconduct of such Lender, its officers, employees, agents or representatives. Each Lender shall exercise such care in the custody and safekeeping of Drafts as it would exercise in the custody and safekeeping of similar property owned by it. Each Lender shall maintain a record with respect to Bankers’ Acceptances (i) received by it in blank hereunder, (ii) voided by it for any reason, (iii) accepted by it hereunder, (iv) purchased by it hereunder and (v) cancelled at their respective maturities. Each Lender further agrees to retain such records in the manner and for the statutory periods provided in the various Canadian provincial or its employeesfederal statutes and regulations which apply to such Lender.

Bankers' Acceptances in Blank. To facilitate the acceptance of Bankers' Acceptances under this Credit Agreement, the Borrowers Borrower shall, upon execution of this Agreement, if so requested by a Lender, Credit Agreement and from time to time as required, provide to that Lender Bankers' Acceptances substantially the Agent bills of exchange, in form satisfactory to the form as may be acceptable to that Lender Agent, duly executed and endorsed in blank by the Borrower, Borrower in quantities sufficient for that Lender the Agent to fulfill its obligations under this Agreement orhereunder. In addition, if so requested the Borrower hereby appoints the Agent as its attorney to sign and endorse on its behalf, in handwriting or by a Lender, provide to that Lender, with a copy to facsimile or mechanical signature as and when deemed necessary by the Agent, a power blank forms of attorney substantially in the form of Schedule O executed by the Bankers' Acceptances. The Borrower in favour of recognizes and agrees that Lender authorizing that Lender to execute drafts in the form attached thereto. If all Bankers' Acceptances have been provided to a Lender duly executed and signed and/or endorsed in blank on its behalf by the Agent shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower, that Lender . The Agent is hereby authorized to issue such Bankers' Acceptances endorsed in blank in such face amounts as may be determined by the Borrower Agent provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' Acceptances required to be accepted by the LenderAgent pursuant to clause (d) below. No Lender The Agent shall not be responsible or liable for its failure to accept a Bankers' Acceptance as required under this Agreement if the cause of the such failure is, in whole or in part, due to the failure of the Borrower to provide duly executed and endorsed bills of exchange to the Lender Agent on a timely basis a sufficient number of duly executed Bankers' Acceptances or a duly executed power of attorney, as applicable, nor shall any Lender Bank or the Agent be liable for any damage, loss or other claim arising by reason of any loss or improper use of any Bankers' Acceptance such instrument except a loss or improper use arising by reason of the gross negligence or wilful willful misconduct of such Bank or the Lender Agent, its officers, employees, agents or its employeesrepresentatives. The Agent shall maintain a record with respect to Bankers' Acceptances (i) received by it from the Agent in blank hereunder, (ii) voided by it for any reason, (iii) accepted by it hereunder, (iv) purchased by it hereunder, and (v) cancelled at their respective maturities. The Agent further agrees to retain such records in the manner and for the statutory periods provided in the various local or federal statutes and regulations which apply to the Agent.

Bankers' Acceptances in Blank. To facilitate the acceptance of Bankers' Acceptances under this Credit Agreement, the Borrowers Company shall, upon execution of this Agreement, if so requested by a Lender, Credit Agreement and from time to time as required, provide to that Lender Bankers' Acceptances substantially the Agent bills of exchange, in form satisfactory to the form as may be acceptable to that Lender Agent, duly executed and endorsed in blank by the Borrower, Company in quantities sufficient for that Lender the Agent to fulfill its obligations under this Agreement orhereunder. In addition, if so requested the Company hereby appoints the Agent as its attorney to sign and endorse on its behalf, in handwriting or by a Lender, provide to that Lender, with a copy to facsimile or mechanical signature as and when deemed necessary by the Agent, a power blank forms of attorney substantially in the form of Schedule O executed by the Borrower in favour of Bankers' Acceptances. The Company recognizes and agrees that Lender authorizing that Lender to execute drafts in the form attached thereto. If all Bankers' Acceptances have been provided to a Lender duly executed and signed and/or endorsed in blank on its behalf by the Borrower, that Lender Agent shall bind the Company as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Company. The Agent is hereby authorized to issue such Bankers' Acceptances endorsed in blank in such face amounts as may be determined by the Borrower Agent provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' Acceptances required to be accepted by the LenderAgent pursuant to clause (d) below. No Lender The Agent shall not be responsible or liable for its failure to accept a Bankers' Acceptance as required under this Agreement if the cause of the such failure is, in whole or in part, due to the failure of the Borrower Company to provide duly executed and endorsed bills of exchange to the Lender Agent on a timely basis a sufficient number of duly executed Bankers' Acceptances or a duly executed power of attorney, as applicable, nor shall any Lender Bank or the Agent be liable for any damage, loss or other claim arising by reason of any loss or improper use of any Bankers' Acceptance such instrument except a loss or improper use arising by reason of the gross negligence or wilful willful misconduct of such Bank or the Lender Agent, its officers, employees, agents or its employeesrepresentatives. The Agent shall maintain a record with respect to Bankers' Acceptances (i) received by it from the Agent in blank hereunder, (ii) voided by it for any reason, (iii) accepted by it hereunder, (iv) purchased by it hereunder, and (v) cancelled at their respective maturities. The Agent further agrees to retain such records in the manner and for the statutory periods provided in the various local or federal statutes and regulations which apply to the Agent.

Bankers' Acceptances in Blank. To facilitate the acceptance of Bankers' Acceptances under this AgreementAcceptances, the Borrowers Borrower shall, upon execution of this Agreement, if so requested by a Lender, Agreement and from time to time as required, provide to that the Lender Bankers' Acceptances substantially in the form as may be acceptable to that Lender drafts duly executed and endorsed in blank by the Borrower, . Upon receipt of a Notice of Borrowing for a Bankers Acceptance or a confirmation as set out in quantities sufficient for that Lender to fulfill its obligations under this Agreement or, if so requested by a Lender, provide to that Lender, with a copy to the Agent, a power of attorney substantially in the form of Schedule O executed by the Borrower in favour of that Lender authorizing that Lender to execute drafts in the form attached thereto. If Bankers' Acceptances have been provided to a Lender duly executed and endorsed in blank by Section 4.6 (f) from the Borrower, that the Lender is hereby authorized to issue such Bankers' Acceptances endorsed in blank in such aggregate face amounts amount as may be determined by set out in the Borrower provided that the aggregate amount thereof is equal to the aggregate amount Notice of Bankers' Acceptances required to be accepted by the LenderBorrowing or confirmation as applicable. No The Lender shall not be responsible or liable for its failure to accept a Bankers' Acceptance as required under this Agreement hereunder if the cause of the such failure is, in whole or in part, due to the failure of the Borrower to provide duly executed and endorsed drafts to the Lender on a timely basis a sufficient number of duly executed Bankers' Acceptances or a duly executed power of attorney, as applicable, nor shall any the Lender be liable for any damage, loss or other claim arising by reason of any loss or improper use of any Bankers' Acceptance except a loss or improper use arising by reason such instrument, it being understood and agreed that the Lender's responsibility is limited in exercising in regard to the drafts the same degree of the gross negligence or wilful misconduct care which it gives valuable property of the Lender at the Lender's office, branch or its employeesagency where the drafts are held. The Lender shall maintain a record with respect to Bankers' Acceptances (i) received by it from the Borrower in blank hereunder, (ii) voided by it for any reason, (iii) accepted and purchased by it hereunder, and (iv) cancelled at their respective maturities. The Lender further agrees to retain such records in the manner and for the statutory periods provided in the various provincial or federal statutes and regulations which apply to the Lender.