Common use of Canadian Agent Advances Clause in Contracts

Canadian Agent Advances. (i) Subject to the limitations set forth below, the Canadian Administrative Agent is authorized by the Canadian Borrower and the Canadian Revolving Lenders, from time to time in the Canadian Administrative Agent’s sole discretion, (A) after the occurrence of a Default or an Event of Default, or (B) at any time that any of the other conditions precedent set forth in Section 6 have not been satisfied, to make ABR Loans or Canadian Prime Rate Loans to the Canadian Borrower on behalf of the Canadian Revolving Lenders in an aggregate Outstanding Amount at any time not to exceed $15,000,000 (provided that, after giving effect thereto, the aggregate Outstanding Amount of Canadian Revolving Loans, Canadian Agent Advances, Canadian Swingline Loans and Canadian Letter of Credit Obligations does not exceed the Total Canadian Revolving Commitment) which the Canadian Administrative Agent, in its good faith judgment, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Revolving Loans and other Obligations (including through ABR Loans or Canadian Prime Rate Loans for the purpose of enabling the Canadian Borrower to meet their payroll and associated tax obligations), and/or (3) to pay any other amount chargeable to the Canadian Borrower pursuant to the terms of this Agreement, including costs, fees and expenses as described in Section 12.5 (any of such advances are herein referred to as “Canadian Agent Advances”); provided that Canadian Agent Advances shall not be outstanding for more than 30 consecutive days unless the Availability Conditions are satisfied; provided, further, that the Required Lenders may at any time revoke the Canadian Administrative Agent’s authorization to make Canadian Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Canadian Administrative Agent’s receipt thereof. At any time, the Canadian Administrative Agent may require the Canadian Revolving Lenders to fund their risk participations as described in Section 2.3(h)(ii).

Canadian Agent Advances. (i) Subject to the limitations set forth below, the Canadian Administrative Agent is authorized by the Canadian Borrower Borrowers and the Canadian Revolving Lenders, from time to time in the Canadian Administrative Agent’s sole discretion, upon notice to the Canadian Lenders, (A) after the occurrence of a Default or an Event of Default, or (B) at any time that any of the other conditions precedent set forth in Section 6 Article IX have not been satisfied, to make ABR Loans or Canadian Prime Rate Loans to the Canadian Borrower Borrowers on behalf of the Canadian Revolving Lenders in an aggregate Outstanding Amount principal amount outstanding at any time not to exceed the lesser of (x) 10% of the Maximum Canadian Revolver Amount and (y) $15,000,000 75,000,000 minus the aggregate principal amount of U.S. Agent Advances outstanding at such time (provided that, after giving effect thereto, that the aggregate Outstanding Amount making of Canadian Revolving Loans, Canadian Agent Advances, Canadian Swingline Loans and Canadian Letter of Credit Obligations any such Loan does not cause the Aggregate Canadian Revolver Outstandings to exceed the Total Maximum Canadian Revolving CommitmentRevolver Amount) which the Canadian Administrative Agent, in its good faith judgment, deems necessary or desirable (1) to preserve or protect the Canadian Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Revolving Loans and other Obligations (including through ABR Loans or Canadian Prime Base Rate Loans for the purpose of enabling the any Canadian Borrower to meet their its payroll and associated tax Tax obligations), and/or (3) to pay any other amount chargeable to the any Canadian Borrower pursuant to the terms of this Agreement, including costs, fees and expenses as described in Section 12.5 14.7 (any of such advances are herein referred to as “Canadian Agent Advances”); provided provided, that with respect to Canadian Agent Advances that exceed Availability, (x) such Canadian Agent Advances shall not be outstanding for more than 30 consecutive days unless and (y) the Availability Conditions are satisfiedaggregate outstanding principal amount thereof shall not at any time exceed $50,000,000 minus the aggregate principal amount of U.S. Agent Advances outstanding at such time; provided, further, that the Required Lenders may at any time revoke the Canadian Administrative Agent’s authorization to make Canadian Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Canadian Administrative Agent’s receipt thereof. At any time, the Canadian Administrative Agent may require the Canadian Revolving Lenders to fund their risk participations as described in Section 2.3(h)(ii).

Canadian Agent Advances. (i) Subject to the limitations set forth below, the Canadian Administrative Agent is authorized by the Canadian Borrower and the Canadian Revolving Lenders, from time to time in the Canadian Administrative Agent’s sole discretion, upon notice to the Canadian Lenders, (A) after the occurrence of a Default or an Event of Default, or (B) at any time that any of the other conditions precedent set forth in Section 6 Article IX have not been satisfied, to make ABR Loans or Canadian Prime Rate Loans to the Canadian Borrower on behalf of the Canadian Revolving Lenders in an aggregate Outstanding Amount principal amount outstanding at any time not to exceed the lesser of (x) 10% of the Maximum Canadian Revolver Amount and (y) $15,000,000 75,000,000 minus the aggregate principal amount of U.S. Agent Advances outstanding at such time (provided that, after giving effect thereto, that the aggregate Outstanding Amount making of Canadian Revolving Loans, Canadian Agent Advances, Canadian Swingline Loans and Canadian Letter of Credit Obligations any such Loan does not cause the Aggregate Canadian Revolver Outstandings to exceed the Total Maximum Canadian Revolving CommitmentRevolver Amount) which the Canadian Administrative Agent, in its good faith judgment, deems necessary or desirable (1) to preserve or protect the Canadian Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Revolving Loans and other Obligations (including through ABR Loans or Canadian Prime Rate Loans for the purpose of enabling the Canadian Borrower to meet their its payroll and associated tax Tax obligations), and/or (3) to pay any other amount chargeable to the Canadian Borrower pursuant to the terms of this Agreement, including costs, fees and expenses as described in Section 12.5 14.7 (any of such advances are herein referred to as “Canadian Agent Advances”); provided provided, that with respect to Canadian Agent Advances that exceed Availability, the aggregate outstanding principal amount thereof shall not be at any time exceed $50,000,000 minus the aggregate principal amount of U.S. Agent Advances outstanding for more than 30 consecutive days unless the Availability Conditions are satisfiedat such time; provided, further, that the Required Lenders may at any time revoke the Canadian Administrative Agent’s authorization to make Canadian Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Canadian Administrative Agent’s receipt thereof. At any time, the Canadian Administrative Agent may require the Canadian Revolving Lenders to fund their risk participations as described in Section 2.3(h)(ii).

Canadian Agent Advances. (i) Subject to the limitations set forth below, the Canadian Administrative Agent is authorized by the Canadian Borrower Borrower, the U.S. Borrowers and the Canadian Revolving Lenders, from time to time in the Canadian Administrative Agent’s sole discretion, (A) after the occurrence of a Default or an Event of Default, or (B) at any time that any of the other conditions precedent set forth in Section 6 have not been satisfied, to make ABR Loans or Canadian Prime Rate Loans to the Canadian Borrower Borrower, on the one hand, or the U.S. Borrowers, on the other hand, on behalf of the Canadian Revolving Lenders in an aggregate Outstanding Amount at any time not to exceed $15,000,000 20,000,000 (provided that, after giving effect thereto, the aggregate Outstanding Amount of Canadian Revolving Loans, Canadian Agent Advances, Canadian Swingline Loans and Canadian Letter of Credit Obligations does not exceed the Total Canadian Revolving Commitment) which the Canadian Administrative Agent, in its good faith judgment, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Revolving Loans and other Obligations (including through ABR Loans or Canadian Prime Rate Loans for the purpose of enabling the Canadian Borrower or the U.S. Borrowers to meet their payroll and associated tax obligations), and/or (3) to pay any other amount chargeable to the Canadian Borrower or the U.S. Borrowers pursuant to the terms of this Agreement, including costs, fees and expenses as described in Section 12.5 (any of such advances are herein referred to as “Canadian Agent Advances”); provided that Canadian Agent Advances shall not be outstanding for more than 30 consecutive days unless the Availability Conditions are satisfied and no Canadian Agent Advances shall be made to the U.S. Borrowers unless the Availability Conditions are satisfied; provided, further, that the Required Lenders may at any time revoke the Canadian Administrative Agent’s authorization to make Canadian Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Canadian Administrative Agent’s receipt thereof. At any time, the Canadian Administrative Agent may require the Canadian Revolving Lenders to fund their risk participations as a described in Section 2.3(h)(ii).

Canadian Agent Advances. (i) Subject to the limitations set forth belowbelow and provided same are not to be utilized to repay Bank Products, the Canadian Administrative Agent is authorized by the Canadian Borrower and the Canadian Revolving Lenders, from time to time in the Canadian Administrative Agent’s sole discretion, (A) after the occurrence of a Default or while an Event of Default, or (B) at any time that any of the other conditions precedent set forth in Section 6 have not been satisfiedDefault has occurred and is continuing, to make ABR Loans or Canadian Prime Rate Revolving Loans to the Canadian Borrower on behalf of the Canadian Revolving Lenders in an aggregate Outstanding Amount amount outstanding at any time not to exceed $15,000,000 (provided thatU.S.$5,000,000, after giving effect theretoor the Equivalent Amount thereof in CDN Dollars, less the aggregate Outstanding Amount amount outstanding at such time of Overdraft Accommodations, but not in excess of the Maximum Canadian Revolving LoansRevolver Amount, Canadian Agent Advances, Canadian Swingline Loans and Canadian Letter of Credit Obligations does not exceed the Total Canadian Revolving Commitment) which the Canadian Administrative Agent, in its good faith reasonable business judgment, deems necessary or desirable (1) to maintain, preserve or protect the Collateral, or any portion thereof, or the Canadian Lenders’ rights under any of the Loan Documents, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Canadian Revolving Loans and other Obligations (including through ABR Loans Obligations, or Canadian Prime Rate Loans for the purpose of enabling the Canadian Borrower to meet their payroll and associated tax obligations), and/or (3) to pay any other amount that is due and owing and/or chargeable to the Canadian Borrower pursuant to the terms of this Agreement, including costs, fees and expenses as described in Section 12.5 14.7 (any of such advances are herein referred to as “Canadian Agent Advances”); provided provided, that (A) if there are three Lenders, any two of them may at any time revoke the authorization of the Agent to make Canadian Agent Advances shall not be outstanding for and (B) if there are four or more than 30 consecutive days unless the Availability Conditions are satisfied; providedLenders, further, that the Required Lenders may at any time revoke the Canadian Administrative Agent’s authorization of the Agent to make Canadian Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Canadian Administrative Agent’s and Royal Bank’s receipt thereof. At any time, the Canadian Administrative Agent may require the Canadian Revolving Lenders to fund their risk participations as described in Section 2.3(h)(ii).