Common use of Canadian Borrowers Clause in Contracts

Canadian Borrowers. A Canadian Borrower shall have the option, on any Business Day, to convert a Canadian Base Rate Loan into a Bankers' Acceptance, to continue a maturing Bankers' Acceptance in accordance with Section 3.4 or to convert a maturing Bankers' Acceptance into a Canadian Base Rate Loan; provided, however, (i) each such continuation or conversion must be requested by such Canadian Borrower pursuant to a written Notice of Extension/Conversion, in the form of Exhibit 4.2, in compliance with the terms set forth below and (ii) such Canadian Borrower must comply with all the requirements of Section 3.4 and such continuation or conversion shall be in such minimum amounts as provided in Sections 3.1(b)(ii) and 3.4(b)(i), and (iii) failure by such Canadian Borrower to properly continue a Bankers' Acceptance shall be deemed a conversion to a Canadian Base Rate Loan. Each continuation or conversion must be requested by such Canadian Borrower no later than 10:00 a.m., Toronto, Ontario time, on (A) the date of a requested conversion of a Bankers' Acceptance to a Canadian Base Rate Loan or (B) the third Business Day prior to the date of a requested continuation of a Bankers' Acceptance or conversion of a Canadian Base Rate Loan to a Bankers' Acceptance, in each case pursuant to a written Notice of Extension/Conversion submitted to the Canadian Agent which shall set forth (x) whether the Loans to be continued or converted are Canadian Revolving Loans, (y) whether the Canadian Borrower wishes to continue or convert such Loans and (z) if the request is to continue a Bankers' Acceptance or convert a Canadian Base Rate Loan to a Bankers' Acceptance, the maturity date applicable thereto.

Canadian Borrowers. A Subject to the terms of Section 5.2, a Canadian Borrower shall have the option, on any Business Day, to convert a Canadian Base Rate Loan into a Bankers' Acceptance, to continue a maturing Bankers' Acceptance in accordance with Section 3.4 or to convert a maturing Bankers' Acceptance into a Canadian Base Rate Loan; provided, however, (i) each such continuation or conversion must be requested by such Canadian Borrower pursuant to a written Notice of Extension/Conversion, in the form of Exhibit Schedule 4.2, in compliance with the terms set forth below and (ii) such Canadian Borrower must comply with all the requirements of Section 3.4 and such continuation or conversion shall be in such minimum amounts as provided in Sections 3.1(b)(ii) and 3.4(b)(i)3.4, and (iii) failure by such Canadian Borrower to properly continue a Bankers' Acceptance shall be deemed a conversion to a Canadian Base Rate Loan. Each continuation or conversion must be requested by such Canadian Borrower no later than 10:00 a.m., Toronto, Ontario time, on (A) the date of a requested conversion of a Bankers' Acceptance to a Canadian Base Rate Loan or (B) the third three Business Day Days prior to the date of a requested continuation of a Bankers' Acceptance or conversion of a Canadian Base Rate Loan to a Bankers' Acceptance, in each case pursuant to a written Notice of Extension/Conversion submitted to the Canadian Agent which shall set forth (x) whether the Loans to be continued or converted are Revolving Canadian Revolving Loans, (y) whether the Canadian Borrower wishes to continue or convert such Loans and (z) if the request is to continue a Bankers' Acceptance or convert a Canadian Base Rate Loan to a Bankers' Acceptance, the maturity date applicable thereto.

Canadian Borrowers. A Canadian Borrower shall have the option, on any Business Day, to convert a Canadian Base Rate Loan into a Bankers' Acceptance, to continue a maturing Bankers' Acceptance in accordance with Section 3.4 or to convert a maturing Bankers' Acceptance into a Canadian Base Rate Loan; provided, however, (i) each such continuation or conversion must be requested by such Canadian Borrower pursuant to a written Notice of Extension/Conversion, in the form of Exhibit Schedule 4.2, in compliance with the terms set forth below and (ii) such Canadian Borrower must comply with all the requirements of Section 3.4 and such continuation or conversion shall be in such minimum amounts as provided in Sections 3.1(b)(ii) and 3.4(b)(i)3.4, and (iii) failure by such Canadian Borrower to properly continue a Bankers' Acceptance shall be deemed a conversion to a Canadian Base Rate Loan. Each continuation or conversion must be requested by such Canadian Borrower no later than 10:00 a.m., Toronto, Ontario time, on (A) the date of a requested conversion of a Bankers' Acceptance to a Canadian Base Rate Loan or (B) the third Business Day prior to the date of a requested continuation of a Bankers' Acceptance or conversion of a Canadian Base Rate Loan to a Bankers' Acceptance, in each case pursuant to a written Notice of Extension/Conversion submitted to the Canadian Agent which shall set forth (x) whether the Loans to be continued or converted are Revolving Canadian Revolving Loans, (y) whether the Canadian Borrower wishes to continue or convert such Loans and (z) if the request is to continue a Bankers' Acceptance or convert a Canadian Base Rate Loan to a Bankers' Acceptance, the maturity date applicable thereto.