Canadian Advances. The Canadian Borrower hereby unconditionally promises to pay to the Canadian Administrative Agent for the account of and ratable benefit of each Canadian Lender the aggregate outstanding principal amount of all Canadian Advances on the Maturity Date.
Canadian Advances. (i) Each Canadian Lender agrees, for itself only, subject to the terms and conditions of this Agreement, to make Canadian Advances to the Borrowing Subsidiaries pursuant to Section 2.4, from time to time from and including the Effective Date to be excluding the Termination Date, not to exceed an aggregate principal amount at any time outstanding to the Borrowing Subsidiaries the respective amounts determined pursuant to Section 2.1(d).
(ii) If on any date a Canadian Advance is to be made to a Borrowing Subsidiary (A) such Canadian Advance may not be made because the aggregate Commitments of the Canadian Lenders would be exceeded and (B) the amount by which such Commitments of the Canadian Lenders would be exceeded is less than or equal to the aggregate unused Commitments of Lenders that are not Canadian Lenders, each Lender that is not a Canadian Lender shall make a U.S. Advance to the Company on such date, if the conditions for such an Advance are satisfied, and the proceeds of such U.S. Advance shall be simultaneously applied to repay the outstanding U.S. Advances of the Canadian Lenders, in each case in amounts such that, after giving effect to such Borrowing and repayments and the Borrowing from the Canadian Lenders of the requested Canadian Advance, the provisions of Section 2.1(d) will not be violated. If any Borrowing of U.S. Advances is required pursuant to this Section 2.1(b)(ii), the Company shall notify the Agent in the manner provided for U.S. Advances in Section 2.4 and the Agent will notify each Lender of the amount to be advanced by such Lender.
Canadian Advances. Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Canadian Revolving Lender agrees (severally, not jointly or jointly and severally) to make revolving loans (“Canadian Advances”) denominated in Canadian Dollars, U.S. Dollars or any other freely transferable currency approved by the Canadian Revolving Lenders, the Administrative Agent and, in respect of Letters of Credit, the Canadian Issuing Banks in accordance with Section 1.5, at the election of the Canadian Borrowers, to the Canadian Borrowers in an amount at any one time outstanding, but subject to Section 1.7(e) not to exceed the lesser of: (i) such Canadian Revolving Lender’s Canadian Revolving Commitment, and (ii) such Canadian Revolving Lender’s Pro Rata Share of an amount equal to: (A) the Canadian Loan Cap, less (B) the Canadian Letter of Credit Usage at such time, less (C) the principal amount of Canadian Swingline Loans outstanding at such time.
Canadian Advances. Each Canadian Lender severally agrees, on the terms and conditions hereinafter set forth, to make Canadian Prime Rate Advances in Canadian Dollars and Base Rate Advances or Eurocurrency Rate Advances in US Dollars to any Canadian Borrower from time to time on any Business Day during the period from the Restatement Date until the Termination Date in an amount for each such Advance (determined by reference to the Equivalent thereof in Canadian Dollars on the Business Day such Advance is made) not to exceed such Lender’s Unused Canadian Commitment at such time. Each Canadian Borrowing under this Section 2.1(b) shall be in an aggregate amount of not less than CN$10,000,000 or US$10,000,000, as the case may be, or an integral multiple of CN$1,000,000 or US$1,000,000, as the case may be, in excess thereof and shall consist of Canadian Advances made on the same day and of the same Type by the Canadian Lenders ratably according to their respective Canadian Commitments. Within the limits of each Canadian Lender’s Unused Canadian Commitment in effect from time to time, the Canadian Borrowers may borrow under this Section 2.1(b), prepay pursuant to Section 2.11 and reborrow under this Section 2.1(b).
Canadian Advances. Subject to the terms and conditions hereof, each Canadian Lender agrees to extend credit to Canadian Working Capital Borrower by (i) advancing funds to Canadian Working Capital Borrower specified in a Borrowing Notice (herein called such Canadian Lender’s “Canadian Loans”) and (ii) accepting and purchasing drafts of Bankers’ Acceptances issued under this Agreement by Canadian Working Capital Borrower specified in a Borrowing Notice (herein called such Canadian Lender’s “Bankers’ Acceptances”; each Canadian Lender’s Canadian Loans and Bankers’ Acceptances are herein collectively called such Canadian Lender’s “Canadian Advances”) upon Canadian Working Capital Borrower’s request from time to time during the Canadian Working Capital Commitment Period, provided that (a) subject to Sections 3.3, 3.4, and 3.6, all Canadian Lenders are requested to make Canadian Advances of the same Type in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) after giving effect to such Canadian Advances, the Canadian Working Capital Facility Usage does not exceed the Canadian Working Capital Commitment determined as of the date on which the requested Canadian Advances are to be made, and (c) after giving effect to such Canadian Advances the Canadian Advances by each Canadian Lender plus the existing Canadian LC Obligations of such Canadian Lender does not exceed such Canadian Lender’s Canadian Working Capital Commitment. The aggregate amount of all Canadian Loans in any Borrowing advanced in Canadian Dollars must be equal to C$500,000 or any higher integral multiple of C$100,000. The obligation of Canadian Working Capital Borrower to repay to each Canadian Lender the aggregate amount of all Canadian Loans made by such Canadian Lender to Canadian Working Capital Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Canadian Lender’s “Canadian Working Capital Note”) made by Canadian Working Capital Borrower payable to the order of such Canadian Lender in the form of Exhibit A-3 with appropriate insertions. The amount of principal owing on any Canadian Lender’s Canadian Working Capital Note at any given time shall be the aggregate amount of all Canadian Loans theretofore made by such Canadian Lender minus all payments of principal theretofore received by such Canadian Lender on such Canadian Working Capital Note. Interest on each Canadian Working Capital Note shall ac...
Canadian Advances. With respect to all Canadian Advances only:
(i) All interest payments to be made to the Canadian Lender under this Agreement will be paid without allowance or deduction for deemed re-investment or otherwise, both before and after maturity and before and after default and/or judgment, if any, until payment of the amount on which such interest is accruing, and interest will accrue on overdue interest, if any.
(ii) Unless otherwise stated, wherever this Agreement reference is made to a rate of interest "per annum" or a similar expression is used for amounts due to the Canadian Lender, such interest will be calculated by the Canadian Lender on the basis of a calendar year of 365 days or 366 days, as the case may be, and using the nominal rate method of calculation, and will not be calculated using the effective rate method of calculation or on any other basis that gives effect to the principle of deemed re-investment of interest.
(iii) For purposes of the Interest Act (Canada) and disclosure under such act, whenever interest to be paid under this Agreement to the Canadian Lender is to be calculated on the basis of a year of 365 days or 360 days of any other period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by either 365, 360 or such other period of time, as the case may be.
Canadian Advances. (A) A rate per annum equal at all times to the sum of (1) the Canadian Prime Rate in effect from time to time plus (2) the Applicable Margin for Canadian Advances in effect from time to time, payable in arrears quarterly on the last Business Day of each March, June, September and December during such periods, on the date such Canadian Advance shall be Converted, on the date of any repayment thereof pursuant to Section 2.04, on the date of any prepayment thereof to the extent required under Section 2.06 and on the Termination Date.
(B) For purposes of the Interest Act (Canada), (1) whenever any interest or fee under this Agreement is calculated using a rate based on a year different from the calendar year, such rate determined pursuant to such calculation, when expressed as an annual rate, is equivalent to (x) the applicable rate based on such year, (y) multiplied by the actual number of days in the calendar year in which the period for which such interest or fee is calculated ends, and (z) divided by the number of days in such year; (2) the principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement; and (3) the rates of interest stipulated in this Agreement are intended to be nominal rates and not effective rates or yields.
(C) Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the aggregate "interest" (as defined in Section 347 of the Criminal Code, Revised Statutes of Canada, 1985, c.46 as the same may be amended, replaced or re-enacted from time to time) payable under this Agreement exceed the maximum amount of interest on the "credit advanced" (as defined in that section) under this Agreement lawfully permitted under that section and, if any payment, collection or demand pursuant to this Agreement in respect of "interest" (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the Borrowers and the Agents and the Lenders and the amount of such payment or collection shall be refunded to the Borrowers. For purposes of this Agreement, the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles over the term the Facility is outstanding on the basis of annual compounding of the lawfully permitted rate of interest and, in the event of dispute, a certificate of a Fellow of ...
Canadian Advances. Canadian Loans that are Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into BA Rate Advances. Each BA Rate Advance shall continue as a BA Rate Advance until the end of the then applicable Interest Period therefor, at which time such BA Rate Advance shall be automatically converted into a Floating Rate Advance unless the Canadian Borrower shall have given the Agent a Conversion/Continuation Notice requesting that, at the end of such Interest Period, such BA Rate Advance either continue as a BA Rate Advance for the same or another Interest Period or be converted into a Floating Rate Advance. Subject to the terms hereof, the Canadian Borrower may elect from time to time to convert all or any part of a Advance of any Type to the Canadian Borrower into any other Type or Types of Advance; provided that any conversion of any BA Rate Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Canadian Borrower shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Advance or continuation of a BA Rate Advance not later than 10:00 a.m. (Toronto time) at least one Business Day (or such other time agreed to by all the Canadian Lenders and the Canadian Borrower), in the case of a conversion into a Floating Rate Advance, or three Business Days (or such other time agreed to by all the Canadian Lenders and the Canadian Borrower), in the case of a conversion into or continuation of a BA Rate Advance, prior to the date of the requested conversion or continuation, specifying: the requested date, which shall be a Business Day, of such conversion or continuation, the aggregate amount and Type of the Advance which is to be converted or continued, and the amounts and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a BA Rate Advance, the duration of the Interest Period applicable thereto.
Canadian Advances. The Canadian Borrower may prepay the principal of any Canadian Advance at any time in whole or in part, without premium or penalty. Any amounts prepaid may be reborrowed, subject to the terms and conditions of this Agreement.
Canadian Advances. 16 (e) Additional Limitations on Advances.................... 16 (f) Revolving Facility.................................... 16 (g) Currency Options...................................... 17 2.2 Making Advances............................................. 17 (a) Notice of Borrowing................................... 17 (b) Notices Irrevocable................................... 17 (c) Funding; Failure to Fund.............................. 17 (d) Obligations Several................................... 18 2.3 Conversion and Continuation of Borrowings................... 18 2.4
