Canadian Revolving Commitment. During the Commitment Period, subject to the terms and conditions hereof, the Canadian Revolving Lenders severally agree to make revolving credit loans in Canadian Dollars to the Canadian Borrower from time to time in an aggregate principal Dollar Amount of up to ONE HUNDRED MILLION U.S. DOLLARS (U.S.$100,000,000) (as such amount may be increased or reduced from time to time in accordance with Section 2.11, the “Canadian Revolving Committed Amount”); provided, however, that after giving effect to any such Canadian Revolving Loans, (i) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding Canadian Revolving Loans and Canadian Swingline Loans shall not exceed the Canadian Revolving Committed Amount, (iii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of any Canadian Revolving Lender’s Canadian Revolving Loans shall not exceed its Canadian Revolving Commitment and (iv) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Revolving Loans borrowed on the Closing Date shall not exceed U.S.$175,000,000. Canadian Revolving Loans may consist of U.S. Base Rate Loans, Canadian Prime Rate Loans, LIBOR Rate Loans, Bankers’ Acceptance Advances or a combination thereof, as the Canadian Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof. Canadian Prime Rate Loans and Bankers’ Acceptance Advances shall be denominated in Canadian Dollars and Canadian Revolving Loans which are U.S. Base Rate Loans or LIBOR Rate Loans shall be denominated in U.S. Dollars. LIBOR Rate Loans shall be made by each Canadian Revolving Lender at its LIBOR Lending Office. Canadian Prime Rate Loans, Canadian Revolving Loans which are U.S. Base Rate Loans and Bankers’ Acceptance Advances shall be made by each Canadian Revolving Lender at its Canadian Lending Office. Canadian Revolving Loans may only be made, and Bankers’ Acceptance Advances may only be accepted, by Lenders which are Canadian Lenders. The initial Canadian Lenders are those identified as such on the signature pages hereto. Any such Lender which should cease to be or to qualify as a Canadian Lender shall forthwith notify the Canadian Borrower of such event.
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Samples: Credit Agreement (Rock-Tenn CO), Credit Agreement (Rock-Tenn CO)
Canadian Revolving Commitment. During the Commitment Period, subject Subject to the terms and conditions hereofand relying upon the representations and warranties herein set forth, the (i) each Canadian Tranche A Revolving Lender agrees, severally and not jointly, to make Canadian Revolving Lenders severally agree Loans to make revolving credit loans in Canadian Dollars to the Canadian Borrower Borrower, at any time and from time to time on or after the Closing Date until the earlier of the Tranche A Revolving Maturity Date and the termination of the Canadian Tranche A Revolving Commitment of such Lender in accordance with the terms hereof, in an aggregate principal Dollar Amount amount at any time outstanding that will not result in (w) such Lender’s Revolving Exposure exceeding such Lender’s Tranche A Revolving Commitment, (x) such Lender’s Canadian Revolving Exposure exceeding such Lender’s Canadian Tranche A Revolving Commitment, (y) the aggregate amount of up outstanding Canadian Revolving Loans exceeding the aggregate Canadian Revolving Commitments less the aggregate amount of outstanding Canadian Term Loans and (z) a violation or breach of the Senior Subordinated Note Documents and (ii) each Canadian Tranche B Revolving Lender agrees, severally and not jointly, to ONE HUNDRED MILLION U.S. DOLLARS (U.S.$100,000,000) (as such amount may be increased or reduced make Canadian Revolving Loans to Canadian Borrower, at any time and from time to time on or after the Restatement Date until the earlier of the Tranche B Revolving Maturity Date and the termination of the Canadian Tranche B Revolving Commitment of such Lender in accordance with Section 2.11the terms hereof, the “in an aggregate principal amount at any time outstanding that will not result in (w) such Lender’s Revolving Exposure exceeding such Lender’s Tranche B Revolving Commitment, (x) such Lender’s Canadian Revolving Committed Amount”); provided, however, that after giving effect to any Exposure exceeding such Lender’s Canadian Tranche B Revolving LoansCommitment, (iy) the aggregate principal Dollar Amount (determined as amount of the most recent Determination Date) of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding Canadian Revolving Loans and Canadian Swingline Loans shall not exceed exceeding the aggregate Canadian Revolving Committed Amount, (iii) Commitments less the aggregate principal Dollar Amount amount of outstanding Canadian Term Loans and (determined as z) a violation or breach of the most recent Determination Date) of any Canadian Revolving Lender’s Canadian Revolving Loans shall not exceed its Canadian Revolving Commitment and (iv) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Revolving Loans borrowed on the Closing Date shall not exceed U.S.$175,000,000. Canadian Revolving Loans may consist of U.S. Base Rate Loans, Canadian Prime Rate Loans, LIBOR Rate Loans, Bankers’ Acceptance Advances or a combination thereof, as the Canadian Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof. Canadian Prime Rate Loans and Bankers’ Acceptance Advances shall be denominated in Canadian Dollars and Canadian Revolving Loans which are U.S. Base Rate Loans or LIBOR Rate Loans shall be denominated in U.S. Dollars. LIBOR Rate Loans shall be made by each Canadian Revolving Lender at its LIBOR Lending Office. Canadian Prime Rate Loans, Canadian Revolving Loans which are U.S. Base Rate Loans and Bankers’ Acceptance Advances shall be made by each Canadian Revolving Lender at its Canadian Lending Office. Canadian Revolving Loans may only be made, and Bankers’ Acceptance Advances may only be accepted, by Lenders which are Canadian Lenders. The initial Canadian Lenders are those identified as such on the signature pages hereto. Any such Lender which should cease to be or to qualify as a Canadian Lender shall forthwith notify the Canadian Borrower of such event.Senior Subordinated Note Documents; and
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Canadian Revolving Commitment. During the Commitment Period, subject to the terms and conditions hereof, the each Canadian Revolving Lenders Lender severally agree agrees to make revolving credit loans in Canadian Dollars ("Canadian Revolving Loans") to the Canadian Borrower from time to time in an aggregate principal Dollar Amount amount not to exceed at any time outstanding the amount of up to ONE HUNDRED MILLION U.S. DOLLARS (U.S.$100,000,000) (as such amount may be increased or reduced from time to time in accordance with Section 2.11, the “Canadian Revolving Committed Amount”)Lender's Canadian Revolving Commitment; provided, however, that after giving effect to any such Canadian Revolving Loans, (i) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding Canadian Revolving Loans and Canadian Swingline Loans shall not exceed the Aggregate Canadian Revolving Committed Amount, Amount and (iii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of any Canadian Revolving Lender’s 's Canadian Revolving Commitment Percentage of outstanding Canadian Revolving Loans shall not exceed its such Canadian Revolving Commitment and (iv) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Lender's Canadian Revolving Loans borrowed on the Closing Date shall not exceed U.S.$175,000,000Committed Amount. Canadian Revolving Loans may consist of U.S. Base Rate Loans, Canadian Prime Rate Loans, LIBOR Rate Loans, Bankers’ ' Acceptance Advances or a combination thereof, as the Canadian Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof; provided, however, that (i) no Canadian Revolving Loans shall be made on the Closing Date and (ii) no Canadian Revolving Loans shall be made hereunder until such time as the Canadian Credit Parties have delivered to the Canadian Agent such Security Documents as reasonably requested by the Canadian Agent in order to create and perfect the Canadian Lender's security interest in Collateral owned by the Canadian Credit Parties organized in the province of Quebec. Canadian Prime Rate Loans and Bankers’ ' Acceptance Advances shall be denominated in Canadian Dollars and Canadian Revolving Loans which are U.S. Base Rate Loans or LIBOR Rate Loans shall be denominated in U.S. Dollars. LIBOR Rate Loans shall be made by each Canadian Revolving Lender at its LIBOR Lending Office. Canadian Prime Rate Loans, Canadian Revolving Loans which are U.S. Base Rate Loans and Bankers’ ' Acceptance Advances shall be made by each Canadian Revolving Lender at its Canadian Lending Office. Canadian Revolving Loans may only be made, and Bankers’ ' Acceptance Advances may only be accepted, by Lenders which are Canadian Lenders. The initial Canadian Lenders are those identified as such on the signature pages hereto. Any such Lender which should cease to be or to qualify as a Canadian Lender shall forthwith notify the Canadian Borrower of such event.
Appears in 1 contract
Samples: Credit Agreement (Rock-Tenn CO)
Canadian Revolving Commitment. During the Commitment Period, subject to the terms and conditions hereof, the Canadian Revolving Lenders severally agree to make revolving credit loans in Canadian Dollars or U.S. Dollars to the Canadian Borrower from time to time in an aggregate principal Dollar Amount of up to ONE HUNDRED FIFTY MILLION U.S. DOLLARS (U.S.$100,000,000U.S.$50,000,000) (as such amount may be increased or reduced from time to time in accordance with Section 2.11, the “Canadian Revolving Committed Amount”); provided, however, that after giving effect to any such Canadian Revolving Loans, (i) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding Canadian Revolving Loans and Canadian Swingline Loans shall not exceed the Canadian Revolving Committed Amount, (iii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of any Canadian Revolving Lender’s Canadian Revolving Loans shall not exceed its Canadian Revolving Commitment and (iv) on the Closing Date only, after giving effect to the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Revolving Loans borrowed on the Closing Date Date, the Borrowers shall not exceed U.S.$175,000,000have Availability of at least US$400,000,000. Canadian Revolving Loans may consist of U.S. Base Rate Loans, Canadian Prime Rate Loans, LIBOR Rate Loans, Bankers’ Acceptance Advances or a combination thereof, as the Canadian Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof. Canadian Prime Rate Loans and Bankers’ Acceptance Advances shall be denominated in Canadian Dollars and Canadian Revolving Loans which are U.S. Base Rate Loans or LIBOR Rate Loans shall be denominated in U.S. Dollars. LIBOR Rate Loans shall be made by each Canadian Revolving Lender at its LIBOR Lending Office. Canadian Prime Rate Loans, Canadian Revolving Loans which are U.S. Base Rate Loans and Bankers’ Acceptance Advances shall be made by each Canadian Revolving Lender at its Canadian Lending Office. Canadian Revolving Loans may only be made, and Bankers’ Acceptance Advances may only be accepted, by Lenders which are Canadian Lenders. The initial Canadian Lenders are those identified as such on the signature pages hereto. Any such Lender which should cease to be or to qualify as a Canadian Lender shall forthwith notify the Canadian Borrower of such event.
Appears in 1 contract
Samples: Credit Agreement (Rock-Tenn CO)
Canadian Revolving Commitment. During the Commitment Period, subject Subject to the terms and conditions hereofhereof and in reliance upon the representations and warranties set forth herein, the each Canadian Revolving Lenders Lender severally agree and not jointly agrees to make available to each Canadian Borrower, for its own account, such Canadian Lender's Canadian Commitment Percentage of revolving credit loans requested by the Canadian Borrowers in Canadian Dollars to the ("Canadian Borrower Revolving Loans") from time to time in an aggregate principal Dollar Amount of up to ONE HUNDRED MILLION U.S. DOLLARS (U.S.$100,000,000) (from the Closing Date until the Termination Date, or such earlier date as such amount may be increased or reduced from time to time in accordance with Section 2.11, the “Canadian Revolving Committed Amount”)Commitments shall have been terminated as provided herein for the purposes hereinafter set forth; provided, however, that after giving effect to any such the sum of the aggregate principal amount of outstanding Canadian Revolving LoansLoans shall not exceed FIFTY MILLION CANADIAN DOLLARS (C$50,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 4.4, the "Canadian Revolving Committed Amount"); provided, further, (i) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of outstanding Revolving Loanswith regard to each Canadian Lender individually, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding Canadian Revolving Loans of such Canadian Lender plus the participation interests in Canadian LOC Obligations of such Canadian Lender plus the BA Outstandings of such Canadian Lender shall not exceed such Canadian Lender's Canadian Commitment Percentage of the Canadian Revolving Committed Amount and (ii) with regard to the Canadian Lenders collectively, the aggregate principal amount of outstanding Canadian Revolving Loans plus the aggregate principal amount of outstanding Canadian Swingline Loans plus Canadian LOC Obligations outstanding plus the BA Outstandings shall not exceed the Canadian Revolving Committed Amount, (iii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of any Canadian Revolving Lender’s Canadian Revolving Loans shall not exceed its Canadian Revolving Commitment and (iv) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Revolving Loans borrowed on the Closing Date shall not exceed U.S.$175,000,000. Canadian Revolving Loans may consist of U.S. Base Rate Loans, Canadian Prime Rate Loans, LIBOR Rate Loans, Bankers’ Acceptance Advances or a combination thereof, as the Canadian Borrower may request, and hereunder may be repaid and reborrowed in accordance with the provisions hereof. Canadian Prime Rate Loans and Bankers’ Acceptance Advances shall be denominated in Canadian Dollars and Canadian Revolving Loans which are U.S. Base Rate Loans or LIBOR Rate Loans shall be denominated in U.S. Dollars. LIBOR Rate Loans shall be made by each Canadian Revolving Lender at its LIBOR Lending Office. Canadian Prime Rate Loans, Canadian Revolving Loans which are U.S. Base Rate Loans and Bankers’ Acceptance Advances shall be made by each Canadian Revolving Lender at its Canadian Lending Office. Canadian Revolving Loans may only be made, and Bankers’ Acceptance Advances may only be accepted, by Lenders which are Canadian Lenders. The initial Canadian Lenders are those identified as such on the signature pages hereto. Any such Lender which should cease to be or to qualify as a Canadian Lender shall forthwith notify the Canadian Borrower of such event.
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Canadian Revolving Commitment. During the Commitment Period, subject to the terms and conditions hereof, the Canadian Revolving Lenders severally agree to make revolving credit loans in Canadian Dollars or U.S. Dollars to the Canadian Borrower from time to time in an aggregate principal Dollar Amount of up to ONE THREE HUNDRED MILLION U.S. DOLLARS (U.S.$100,000,000U.S.$300,000,000) (as such amount may be increased or reduced from time to time in accordance with Section 2.11, the “Canadian Revolving Committed Amount”); provided, however, that after giving effect to any such Canadian Revolving Loans, (i) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding Canadian Revolving Loans and Canadian Swingline Loans shall not exceed the Canadian Revolving Committed Amount, Amount and (iii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of any Canadian Revolving Lender’s Canadian Revolving Loans shall not exceed its Canadian Revolving Commitment and (iv) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Revolving Loans borrowed on the Closing Date shall not exceed U.S.$175,000,000Commitment. Canadian Revolving Loans may consist of U.S. Base Rate Loans, Canadian Prime Rate Loans, LIBOR Rate Loans, Bankers’ Acceptance Advances or a combination thereof, as the Canadian Borrower may request, and may be repaid and reborrowed in accordance with the provisions hereof. Canadian Prime Rate Loans and Bankers’ Acceptance Advances shall be denominated in Canadian Dollars and Canadian Revolving Loans which are U.S. Base Rate Loans or LIBOR Rate Loans shall be denominated in U.S. Dollars. LIBOR Rate Loans shall be made by each Canadian Revolving Lender at its LIBOR Lending Office. Canadian Prime Rate Loans, Canadian Revolving Loans which are U.S. Base Rate Loans and Bankers’ Acceptance Advances shall be made by each Canadian Revolving Lender at its Canadian Lending Office. Canadian Revolving Loans may only be made, and Bankers’ Acceptance Advances may only be accepted, by Lenders which are Canadian Lenders. The initial Canadian Lenders as of the Restatement Effective Date are those identified as such on Schedule 2.1(a) to the signature pages heretoAmendment Agreement. Any such Lender which should cease to be or to qualify as a Canadian Lender shall forthwith notify the Canadian Borrower of such event.
Appears in 1 contract
Samples: Amendment No. 3 (Rock-Tenn CO)
Canadian Revolving Commitment. During the Commitment Period, subject to the terms and conditions hereof, the each Canadian Revolving Lenders Lender severally agree agrees to make revolving credit loans in (the "Canadian Dollars Revolving Loans") to the Canadian Borrower Borrowers in U.S. Dollars or Canadian Dollars from time to time in an the amount of such Canadian Lender's Canadian Revolving Commitment Percentage of such Canadian Revolving Loans for the purposes hereinafter set forth; provided that (i) with regard to the Canadian Lenders collectively, the aggregate principal Dollar Amount of up to ONE HUNDRED Canadian Obligations outstanding at any time shall not exceed FIFTEEN MILLION U.S. DOLLARS (U.S.$100,000,000US$15,000,000) (as such amount may be increased or reduced from time to time in accordance with Section 2.11the provisions hereof, the “"Aggregate Canadian Revolving Committed Amount”"); provided, however(ii) with regard to each Canadian Lender individually, that after giving effect to any such Canadian Lender's Canadian Revolving LoansCommitment Percentage of the Dollar Amount of Canadian Obligations outstanding at any time shall not exceed such Canadian Lender's Canadian Revolving Committed Amount, and (iiii) with regard to the Lenders collectively, the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Obligations outstanding Revolving Loans, Swingline Loans and LOC Obligations at any time shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding Canadian Revolving Loans and Canadian Swingline Loans shall not exceed the Canadian Revolving Committed Amount, (iii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of any Canadian Revolving Lender’s Canadian Revolving Loans shall not exceed its Canadian Revolving Commitment and (iv) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Revolving Loans borrowed on the Closing Date shall not exceed U.S.$175,000,000Borrowing Base. Canadian Revolving Loans denominated in Canadian Dollars shall consist of Base Rate Loans. Canadian Revolving Loans denominated in U.S. Dollars may consist of U.S. Base Rate Loans or Eurodollar Loans, Canadian Prime Rate Loans, LIBOR Rate Loans, Bankers’ Acceptance Advances or a combination thereof, as the Canadian Borrower Borrowers may request, and . Canadian Revolving Loans may be repaid and reborrowed in accordance with the provisions hereof. The Canadian Prime Rate Loans and Bankers’ Acceptance Advances Administrative Agent shall be denominated in Canadian Dollars and give notice to the Domestic Administrative Agent of each advance of a Canadian Revolving Loans which are U.S. Base Rate Loans or LIBOR Rate Loans shall be denominated in U.S. Dollars. LIBOR Rate Loans shall be made by each Canadian Revolving Lender at its LIBOR Lending Office. Canadian Prime Rate Loans, Canadian Revolving Loans which are U.S. Base Rate Loans Loan (including extensions and Bankers’ Acceptance Advances shall be made by each Canadian Revolving Lender at its Canadian Lending Office. Canadian Revolving Loans may only be made, conversions thereof) and Bankers’ Acceptance Advances may only be accepted, by Lenders which are Canadian Lenders. The initial Canadian Lenders are those identified as such on the signature pages hereto. Any such Lender which should cease to be or to qualify as a Canadian Lender shall forthwith notify the Canadian Borrower of such eventrepayments thereof.
Appears in 1 contract
Samples: Credit Agreement (Railworks Corp)
Canadian Revolving Commitment. During the Commitment Period, subject Subject to the terms and conditions hereofhereof and in reliance upon the representations and warranties set forth herein, the each Canadian Revolving Lenders Lender severally agree and not jointly agrees to make available to each Canadian Borrower, for its own account, such Canadian Lender’s Canadian Commitment Percentage of revolving credit loans requested by the Canadian Borrowers in Canadian Dollars to the (“Canadian Borrower Revolving Loans”) from time to time in an from the Closing Date until the Termination Date, or such earlier date as the Canadian Revolving Commitments shall have been terminated as provided herein for the purposes hereinafter set forth; provided, however, that the sum of the aggregate principal Dollar Amount amount of up to ONE HUNDRED outstanding Canadian Revolving Loans shall not exceed FORTY MILLION U.S. CANADIAN DOLLARS (U.S.$100,000,000C$40,000,000) (as such aggregate maximum amount may be increased or reduced from time to time as provided in accordance with Section 2.114.4, the “Canadian Revolving Committed Amount”); provided, however, that after giving effect to any such Canadian Revolving Loansfurther, (i) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of outstanding Revolving Loanswith regard to each Canadian Lender individually, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding Canadian Revolving Loans of such Canadian Lender plus the participation interests in Canadian LOC Obligations of such Canadian Lender plus the BA Outstandings of such Canadian Lender shall not exceed such Canadian Lender’s Canadian Commitment Percentage of the Canadian Revolving Committed Amount and (ii) with regard to the Canadian Lenders collectively, the aggregate principal amount of outstanding Canadian Revolving Loans plus the aggregate principal amount of outstanding Canadian Swingline Loans plus Canadian LOC Obligations outstanding plus the BA Outstandings shall not exceed the Canadian Revolving Committed Amount, (iii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of any Canadian Revolving Lender’s Canadian Revolving Loans shall not exceed its Canadian Revolving Commitment and (iv) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Revolving Loans borrowed on the Closing Date shall not exceed U.S.$175,000,000. Canadian Revolving Loans may consist of U.S. Base Rate Loans, Canadian Prime Rate Loans, LIBOR Rate Loans, Bankers’ Acceptance Advances or a combination thereof, as the Canadian Borrower may request, and hereunder may be repaid and reborrowed in accordance with the provisions hereof. Canadian Prime Rate Loans and Bankers’ Acceptance Advances shall be denominated in Canadian Dollars and Canadian Revolving Loans which are U.S. Base Rate Loans or LIBOR Rate Loans shall be denominated in U.S. Dollars. LIBOR Rate Loans shall be made by each Canadian Revolving Lender at its LIBOR Lending Office. Canadian Prime Rate Loans, Canadian Revolving Loans which are U.S. Base Rate Loans and Bankers’ Acceptance Advances shall be made by each Canadian Revolving Lender at its Canadian Lending Office. Canadian Revolving Loans may only be made, and Bankers’ Acceptance Advances may only be accepted, by Lenders which are Canadian Lenders. The initial Canadian Lenders are those identified as such on the signature pages hereto. Any such Lender which should cease to be or to qualify as a Canadian Lender shall forthwith notify the Canadian Borrower of such event.
Appears in 1 contract
Samples: Credit Agreement (Airgas Inc)
Canadian Revolving Commitment. During the Commitment Period, subject Subject to the terms and conditions hereofhereof and in reliance upon the representations and warranties set forth herein, the each Canadian Revolving Lenders Lender severally agree and not jointly agrees to make available to each Canadian Borrower, for its own account, such Canadian Lender's Canadian Commitment Percentage of revolving credit loans requested by the Canadian Borrowers in Canadian Dollars to the ("Canadian Borrower Revolving Loans") from time to time in an from the Closing Date until the Termination Date, or such earlier date as the Canadian Revolving Commitments shall have been terminated as provided herein for the purposes hereinafter set forth; provided, however, that the sum of the aggregate principal Dollar Amount amount of up to ONE HUNDRED outstanding Canadian Revolving Loans shall not exceed FORTY MILLION U.S. CANADIAN DOLLARS (U.S.$100,000,000C$40,000,000) (as such aggregate maximum amount may be increased or reduced from time to time as provided in accordance with Section 2.114.4, the “"Canadian Revolving Committed Amount”"); provided, however, that after giving effect to any such Canadian Revolving Loansfurther, (i) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of outstanding Revolving Loanswith regard to each Canadian Lender individually, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding Canadian Revolving Loans of such Canadian Lender plus the participation interests in Canadian LOC Obligations of such Canadian Lender plus the BA Outstandings of such Canadian Lender shall not exceed such Canadian Lender's Canadian Commitment Percentage of the Canadian Revolving Committed Amount and (ii) with regard to the Canadian Lenders collectively, the aggregate principal amount of outstanding Canadian Revolving Loans plus the aggregate principal amount of outstanding Canadian Swingline Loans plus Canadian LOC Obligations outstanding plus the BA Outstandings shall not exceed the Canadian Revolving Committed Amount, (iii) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of any Canadian Revolving Lender’s Canadian Revolving Loans shall not exceed its Canadian Revolving Commitment and (iv) the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of Revolving Loans borrowed on the Closing Date shall not exceed U.S.$175,000,000. Canadian Revolving Loans may consist of U.S. Base Rate Loans, Canadian Prime Rate Loans, LIBOR Rate Loans, Bankers’ Acceptance Advances or a combination thereof, as the Canadian Borrower may request, and hereunder may be repaid and reborrowed in accordance with the provisions hereof. Canadian Prime Rate Loans and Bankers’ Acceptance Advances shall be denominated in Canadian Dollars and Canadian Revolving Loans which are U.S. Base Rate Loans or LIBOR Rate Loans shall be denominated in U.S. Dollars. LIBOR Rate Loans shall be made by each Canadian Revolving Lender at its LIBOR Lending Office. Canadian Prime Rate Loans, Canadian Revolving Loans which are U.S. Base Rate Loans and Bankers’ Acceptance Advances shall be made by each Canadian Revolving Lender at its Canadian Lending Office. Canadian Revolving Loans may only be made, and Bankers’ Acceptance Advances may only be accepted, by Lenders which are Canadian Lenders. The initial Canadian Lenders are those identified as such on the signature pages hereto. Any such Lender which should cease to be or to qualify as a Canadian Lender shall forthwith notify the Canadian Borrower of such event.
Appears in 1 contract
Samples: Credit Agreement (Airgas Northern California & Nevada Inc)