Common use of Canadian Protective Advances Clause in Contracts

Canadian Protective Advances. Agent shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, to make Canadian Base Rate Loans or Canadian Prime Rate Loans to Canadian Borrower (as applicable, through its Canadian Lending Office, branch or Affiliate) (“Canadian Protective Advances”) (i) up to an aggregate amount, when combined with all Canadian Overadvances and all other Canadian Protective Advances, of 10% of the Canadian Borrowing Base outstanding at any time, if Agent deems such Loans necessary or desirable to preserve or protect Canadian Facility Collateral, or to enhance the collectability or repayment of the Canadian Facility Obligations, as long as such Loans do not cause Canadian Revolver Usage to exceed the Canadian Borrowing Base; or (ii) to pay any other amounts chargeable to Canadian Facility Obligors under any of the Loan Documents, including interest, costs, fees and expenses. Canadian Lenders shall participate on a Pro Rata basis in Canadian Protective Advances outstanding from time to time. Required Lenders may at any time revoke Agent’s authority to make further Canadian Protective Advances under clause (i) by written notice to Agent. Absent such revocation, Agent’s determination that funding of a Canadian Protective Advance is appropriate shall be conclusive. All Canadian Protective Advances shall be Canadian Facility Obligations, secured by the Canadian Facility Collateral and, if denominated in Canadian Dollars, shall be treated for all purposes as a Canadian Prime Rate Loan or, if denominated in Dollars, shall be treated for all purposes as a Canadian Base Rate Loan.

Canadian Protective Advances. The Agent shall be authorizedauthorized by each Canadian Borrower and the Canadian Lenders, from time to time in its discretion, at any time that any conditions in Section 6 are not satisfiedthe Agent’s sole discretion (but shall have absolutely no obligation to), to make Canadian Base Rate Loans or Canadian Prime Rate Loans to any Canadian Borrower on behalf of the Canadian Lenders (any of such Loans are herein referred to as applicable, through its Canadian Lending Office, branch or Affiliate) (“Canadian Protective Advances”) (i) up to an aggregate amountwhich the Agent, when combined with all Canadian Overadvances and all other Canadian Protective Advancesin its Permitted Discretion, of 10% of the Canadian Borrowing Base outstanding at any time, if Agent deems such Loans necessary or desirable to (i) preserve or protect Canadian Facility Collateral, Collateral or to enhance the collectability or repayment of the Canadian Facility Obligations, as long as such Loans do not cause Canadian Revolver Usage to exceed the Canadian Borrowing Base; any portion thereof or (ii) to pay any enhance the likelihood of, or maximize the amount of, repayment of the Canadian Revolver Loans and other amounts chargeable to Canadian Facility Obligors under any of the Loan Documents, including interest, costs, fees and expenses. Canadian Lenders shall participate on a Pro Rata basis in Canadian Protective Advances outstanding from time to time. Required Lenders may at any time revoke Agent’s authority to make further Canadian Protective Advances under clause (i) by written notice to Agent. Absent such revocation, Agent’s determination Obligations; provided that funding of a no Canadian Protective Advance is appropriate shall be conclusivecause the aggregate amount of the Canadian Revolver Exposure at such time to exceed the Canadian Revolver Commitments (or the Canadian Revolver Exposure allocable to an Applicable Canadian Borrower to exceed the Applicable Canadian Borrower’s Applicable Canadian Borrower Commitment) then in effect. All Canadian Protective Advances made by the Agent with respect to each Canadian Domiciled Loan Party shall be Canadian Facility ObligationsObligations of such Canadian Domiciled Loan Party, secured by the applicable Canadian Facility Collateral and, if denominated in Canadian Dollars, shall be treated for all purposes as a Canadian Prime Rate Loan or, if denominated in Dollars, shall be treated for all purposes as a Canadian Base Rate Loan.

Canadian Protective Advances. Agent shall be authorizedauthorized by each Canadian Borrower and the Canadian Revolver Lenders, from time to time in its discretion, at any time that any conditions in Section 6 are not satisfiedAgent’s sole discretion (but shall have absolutely no obligation to), to make (through its Canada branch) Canadian Base Rate Loans or Canadian Prime Rate Loans to any Canadian Borrower on behalf of the Canadian Revolver Lenders (any of such Loans are herein referred to as applicable, through its Canadian Lending Office, branch or Affiliate) (“Canadian Protective Advances”) (i) up to an aggregate amountwhich Agent, when combined with all Canadian Overadvances and all other Canadian Protective Advancesin its Permitted Discretion, of 10% of the Canadian Borrowing Base outstanding at any time, if Agent deems such Loans necessary or desirable to (i) preserve or protect Canadian Facility Collateral, Collateral or to enhance the collectability or repayment of the Canadian Facility Obligations, as long as such Loans do not cause Canadian Revolver Usage to exceed the Canadian Borrowing Base; any portion thereof or (ii) to pay any enhance the likelihood of, or maximize the amount of, repayment of the Canadian Revolver Loans and other amounts chargeable to Canadian Facility Obligors under any of the Loan Documents, including interest, costs, fees and expenses. Canadian Lenders shall participate on a Pro Rata basis in Canadian Protective Advances outstanding from time to time. Required Lenders may at any time revoke Agent’s authority to make further Canadian Protective Advances under clause (i) by written notice to Agent. Absent such revocation, Agent’s determination Obligations; provided that funding of a no Canadian Protective Advance is appropriate shall be conclusivecause the aggregate amount of the Canadian Revolver Exposure at such time to exceed the Canadian Revolver Commitments then in effect. All Canadian Protective Advances made by Agent shall be Canadian Facility Obligations, secured by the Canadian Facility Collateral and, if denominated in Canadian Dollars, shall be treated for all purposes as a Canadian Prime Rate Loan or, if denominated in Dollars, shall be treated for all purposes as a Canadian Base Rate Loan.

Canadian Protective Advances. The Agent shall be authorizedauthorized by each Canadian Borrower and the Canadian Lenders, from time to time in its discretion, at any time that any conditions in Section 6 are not satisfiedthe Agent’s sole discretion (but shall have absolutely no obligation to), to make Canadian Base Rate Loans or Canadian Prime Rate Loans to any Canadian Borrower on behalf of the Canadian Lenders (any of such Loans are herein referred to as applicable, through its Canadian Lending Office, branch or Affiliate) (“Canadian Protective Advances”) (i) up to an aggregate amountwhich the Agent, when combined with all Canadian Overadvances and all other Canadian Protective Advancesin its Permitted Discretion, of 10% of the Canadian Borrowing Base outstanding at any time, if Agent deems such Loans necessary or desirable to (i) preserve or protect Canadian Facility Collateral, Collateral or to enhance the collectability or repayment of the Canadian Facility Obligations, as long as such Loans do not cause Canadian Revolver Usage to exceed the Canadian Borrowing Base; any portion thereof or (ii) to pay any enhance the likelihood of, or maximize the amount of, repayment of the Canadian Revolver Loans and other amounts chargeable to Canadian Facility Obligors under any of the Loan Documents, including interest, costs, fees and expenses. Canadian Lenders shall participate on a Pro Rata basis in Canadian Protective Advances outstanding from time to time. Required Lenders may at any time revoke Agent’s authority to make further Canadian Protective Advances under clause (i) by written notice to Agent. Absent such revocation, Agent’s determination Obligations; provided that funding of a no Canadian Protective Advance is appropriate shall be conclusivecause the aggregate amount of the Canadian Revolver Exposure at such time to exceed the Canadian Revolver Commitments (or the Canadian Revolver Exposure allocable to an Applicable Canadian Borrower to exceed the Applicable Canadian Borrower’s Applicable Canadian Borrower Commitment) then in effect. All Canadian Protective Advances made by the Agent with respect to each Canadian Facility Loan Party shall be Canadian Facility ObligationsObligations of such Canadian Facility Loan Party, secured by the applicable Canadian Facility Collateral and, if denominated in Canadian Dollars, shall be treated for all purposes as a Canadian Prime Rate Loan or, if denominated in Dollars, shall be treated for all purposes as a Canadian Base Rate Loan.

Canadian Protective Advances. Agent (acting through its Canada branch) shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, to make Canadian Base Rate Loans or Canadian Prime Rate Loans to Canadian Borrower (as applicable, through its Canadian Lending Office, branch or Affiliate) (“Canadian Protective Advances”) (i) up to an aggregate amount, when combined with all Canadian Overadvances and all other Canadian Protective Advances, amount of 10% of the Canadian Borrowing Base Cdn $1,000,000 outstanding at any time, if Agent deems such Loans necessary or desirable to preserve or protect Canadian Facility Collateral, or to enhance the collectability or repayment of the Canadian Facility Obligations, as long as such Loans do not cause Canadian Revolver Usage to exceed the Canadian Borrowing Base; or (ii) to pay any other amounts chargeable to Canadian Facility Obligors Credit Parties under any of the Loan Documents, including interest, costs, fees and expenses. Each Canadian Lenders Lender shall participate in each Canadian Protective Advance on a Pro Rata basis basis; provided, however, that in no event shall Canadian Protective Advances be made that would cause (y) Canadian Revolver Exposure to exceed the aggregate Canadian Revolver Commitments or (z) the aggregate outstanding from time amount of the Canadian Revolver Loans of any Canadian Lender plus such Canadian Lender’s Pro Rata portion of all outstanding Canadian LC Obligations to timeexceed such Canadian Lender’s Canadian Revolver Commitment. Required Canadian Lenders may at any time revoke Agent’s authority to make have further Canadian Protective Advances under clause (i) made by written notice to Agent. Absent such revocation, Agent’s determination that funding of a Canadian Protective Advance is appropriate shall be conclusive. All Canadian Protective Advances shall be Canadian Facility Obligations, secured by the Canadian Facility Collateral and, if denominated in Canadian Dollars, shall be treated for all purposes as a Canadian Prime Rate Loan or, if denominated in Dollars, shall be treated for all purposes as a Canadian Base Rate Loan.

Canadian Protective Advances. The Agent shall be authorizedauthorized by each Canadian Borrower and the Canadian Lenders, from time to time in its discretion, at any time that any conditions in Section 6 are not satisfiedthe Agent’s discretion (but shall have absolutely no obligation to), to make Canadian Base Rate Loans or Canadian Prime Rate Loans to any Canadian Borrower on behalf of the Canadian Lenders (any of such Loans are herein referred to as applicable, through its Canadian Lending Office, branch or Affiliate) (“Canadian Protective Advances”) (i) up to an aggregate amount, when combined with all Canadian Overadvances and all other Canadian Protective Advances, of 10% of which the Canadian Borrowing Base outstanding at any time, if Agent deems such Loans necessary or desirable to (i) preserve or protect Canadian Facility Collateral, Collateral or to enhance the collectability or repayment of the Canadian Facility Obligations, as long as such Loans do not cause Canadian Revolver Usage to exceed the Canadian Borrowing Base; any portion thereof or (ii) to pay any enhance the likelihood of, or maximize the amount of, repayment of the Canadian Revolver Loans and other amounts chargeable to Canadian Facility Obligors under any of the Loan Documents, including interest, costs, fees and expenses. Canadian Lenders shall participate on a Pro Rata basis in Canadian Protective Advances outstanding from time to time. Required Lenders may at any time revoke Agent’s authority to make further Canadian Protective Advances under clause (i) by written notice to Agent. Absent such revocation, Agent’s determination Obligations; provided that funding of a no Canadian Protective Advance is appropriate shall be conclusivecause the aggregate amount of the Canadian Revolver Exposure at such time to exceed the Canadian Revolver Commitments then in effect. All Canadian Protective Advances made by the Agent with respect to each Canadian Domiciled Loan Party shall be Canadian Facility ObligationsObligations of such Canadian Domiciled Loan Party, secured by the applicable Canadian Facility Collateral and, if denominated in Canadian Dollars, shall be treated for all purposes as a Canadian Prime Rate Loan or, if denominated in Dollars, shall be treated for all purposes as a Canadian Base Rate Loan.