Common use of Bankers’ Acceptances Clause in Contracts

Bankers’ Acceptances. Provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.3, requested the Lenders to accept its drafts to replace all or a portion of outstanding Bankers’ Acceptances as they mature, each Lender shall, on the maturity of such Bankers’ Acceptances and concurrent with the payment by the Borrower to such relevant Lender of the face amount of such Bankers’ Acceptances or the portion thereof to be replaced, accept the Borrower’s draft or drafts having an aggregate face amount equal to its Pro Rata Share of the aggregate face amount of the matured Bankers’ Acceptances or the portion thereof to be replaced in accordance with Section 3.4.

Appears in 4 contracts

Samples: Credit Agreement (New Gold Inc. /FI), Loan Agreement (New Gold Inc. /FI), Credit Agreement (New Gold Inc. /FI)

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Bankers’ Acceptances. Provided Subject to Section 3.4 and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.3, requested the Lenders to accept its drafts to replace all or a portion of outstanding Bankers’ Acceptances as they mature, each relevant Lender shall, on the maturity of such Bankers’ Acceptances and concurrent with the payment by the Borrower to such relevant Lender of the face amount of such Bankers’ Acceptances or the portion thereof to be replacedAcceptances, accept the Borrower’s draft or drafts having an aggregate face amount equal to its Pro Rata Share of the aggregate face amount of the matured Bankers’ Acceptances or the portion thereof to be replaced in accordance with Section 3.4replaced.

Appears in 2 contracts

Samples: Credit Agreement (CI Financial Corp.), Loan Agreement (CI Financial Corp.)

Bankers’ Acceptances. Provided that the relevant Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.3, requested the Lenders to accept its drafts to replace all or a portion of outstanding Bankers' Acceptances as they mature, each Lender shall, on the maturity of such Bankers' Acceptances and concurrent with the payment by the relevant Borrower to such relevant Lender of the face amount of such Bankers' Acceptances or the portion thereof to be replaced, accept the relevant Borrower’s 's draft or drafts having an aggregate face amount equal to its Pro Rata Share of the aggregate face amount of the matured Bankers' Acceptances or the portion thereof to be replaced in accordance with Section 3.4.

Appears in 1 contract

Samples: Loan Agreement (4352351 Canada Inc.)

Bankers’ Acceptances. Provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.3, requested the Lenders to accept its drafts to replace all or a portion of outstanding Bankers’ Acceptances as they mature, each Lender shall, on the maturity of such Bankers’ Acceptances and concurrent with the payment by the Borrower to such relevant Lender of the face amount of such Bankers’ Acceptances or the portion thereof to be replaced, accept the Borrower’s draft or drafts having an aggregate face amount equal to its Pro Rata Share of the aggregate face amount of the matured Bankers’ Acceptances or the portion thereof to be replaced in accordance with Section 3.4.

Appears in 1 contract

Samples: Credit Agreement (Yamana Gold Inc)

Bankers’ Acceptances. Provided Subject to Section 3.4 and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.3, requested the Lenders to accept its drafts to replace all or a portion of outstanding Bankers’ Acceptances as they mature, each Lender shall, on the maturity of such Bankers’ Acceptances and concurrent with the payment by the Borrower to such relevant Lender of the face amount of such Bankers’ Acceptances or the portion thereof to be replaced, accept the Borrower’s draft or drafts having an aggregate face amount equal to its Pro Rata Share of the aggregate face amount of the matured Bankers’ Acceptances or the portion thereof to be replaced in accordance with Section 3.4replaced.

Appears in 1 contract

Samples: Credit Agreement (Primero Mining Corp)

Bankers’ Acceptances. Provided Subject to Section 3.05 and provided that the applicable Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.35.03, requested the Lenders to accept its drafts to replace all or a portion of outstanding Bankers’ Acceptances as they mature, each Lender shall, on the maturity of such Bankers’ Acceptances and concurrent with the payment by the Borrower Borrowers to such relevant Lender of the face amount of such Bankers’ Acceptances or the portion thereof to be replaced, accept the such Borrower’s draft or drafts having an aggregate face amount equal to its Pro Rata Share of the aggregate face amount of the matured Bankers’ Acceptances or the portion thereof to be replaced in accordance with Section 3.4replaced.

Appears in 1 contract

Samples: Credit Agreement (Vitran Corp Inc)

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Bankers’ Acceptances. Provided that the a Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.3, requested the Lenders to accept its drafts to replace all or a portion of outstanding Bankers’ Acceptances as they mature, each Lender shall, on the maturity of such Bankers’ Acceptances and concurrent with the payment by the Borrower Borrowers to such relevant Lender of the face amount of such Bankers’ Acceptances or the portion thereof to be replaced, accept the such Borrower’s draft or drafts having an aggregate face amount equal to its Pro Rata Share of the aggregate face amount of the matured Bankers’ Acceptances or the portion thereof to be replaced in accordance with Section 3.4.

Appears in 1 contract

Samples: Credit Agreement (New Gold Inc. /FI)

Bankers’ Acceptances. Provided that the relevant Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.3, requested the Lenders to accept its drafts to replace all or a portion of outstanding Bankers’ Acceptances as they mature, each Lender shall, on the maturity of such Bankers’ Acceptances and concurrent with the payment by the relevant Borrower to such relevant Lender of the face amount of such Bankers’ Acceptances or the portion thereof to be replaced, accept the relevant Borrower’s draft or drafts having an aggregate face amount equal to its Pro Rata Share of the aggregate face amount of the matured Bankers’ Acceptances or the portion thereof to be replaced in accordance with Section 3.4.

Appears in 1 contract

Samples: Loan Agreement (Lundin Mining CORP)

Bankers’ Acceptances. Provided Subject to Section 3.5 and provided that the applicable Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.3, requested the Lenders to accept its drafts to replace all or a portion of outstanding Bankers' Acceptances as they mature, each Lender shall, on the maturity of such Bankers' Acceptances and concurrent with the payment by the Borrower Borrowers to such relevant Lender of the face amount of such Bankers' Acceptances or the portion thereof to be replaced, accept the such Borrower’s 's draft or drafts having an aggregate face amount equal to its Pro Rata Share of the aggregate face amount of the matured Bankers' Acceptances or the portion thereof to be replaced in accordance with Section 3.4replaced.

Appears in 1 contract

Samples: Credit Agreement (Vitran Corp Inc)

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