Common use of Canadian Bankers’ Acceptances Purchased by Canadian Banks Clause in Contracts

Canadian Bankers’ Acceptances Purchased by Canadian Banks. Where the Canadian Borrower so elects in the Notice of Canadian Borrowing or fails to elect to market such Canadian Bankers’ Acceptances under Section 2A.11(b)(iv) in such notice, each Canadian Bank shall purchase Canadian Bankers’ Acceptances accepted by it for an amount equal to the Canadian Discount Proceeds.

Canadian Bankers’ Acceptances Purchased by Canadian Banks. Where the Canadian Borrower so elects in the Notice of Canadian Borrowing or fails to elect to market such Canadian Bankers’ Acceptances under Section 2A.11(b)(iv) in such noticeBorrowing, each Canadian Bank shall purchase Canadian Bankers’ ' Acceptances accepted by it for an amount equal to the Canadian Discount Proceeds.