Common use of Canadian Revolving Credit Commitments Clause in Contracts

Canadian Revolving Credit Commitments. The Dollar Equivalent of each Canadian Revolving Lender's Canadian Revolving Credit Exposure shall not exceed at any one time the amount set forth opposite such Canadian Revolving Lender's name on Annex I under the caption "Canadian Revolving Credit Commitment" (as the same may be increased pursuant to Section 2.1(h), adjusted pursuant to Section 2.10(a) or otherwise from time to time modified pursuant to Section 10.7, its "CANADIAN REVOLVING CREDIT COMMITMENT," and collectively for all Canadian Revolving Lenders, the "CANADIAN REVOLVING CREDIT COMMITMENTS"; the term "Canadian Revolving Credit Commitments" includes the requirements of the Canadian Revolving Lenders to purchase participations in the Canadian Swingline Loans pursuant to Section 2.27 hereof; provided, however, that the Dollar Equivalent of the Aggregate Canadian Revolving Credit Exposure at any one time outstanding shall not exceed the Canadian Maximum Available Amount in effect at such time, except that Agent Advances may result in the Aggregate Canadian Revolving Credit Exposure exceeding the amount contemplated in clause (b) of the definition of "CANADIAN MAXIMUM AVAILABLE AMOUNT" so long as the Aggregate Canadian Revolving Credit Exposure shall not exceed the amount contemplated in clause (a) of the definition of "CANADIAN MAXIMUM AVAILABLE AMOUNT". Within the foregoing limits and subject to the conditions set forth in Article 3, the Canadian Borrowers may obtain Borrowings of Canadian Revolving Credit Loans, repay or prepay such Canadian Revolving Credit Loans, and reborrow such Canadian Revolving Credit Loans.

Appears in 1 contract

Samples: Credit Agreement (Gerdau Ameristeel Corp)

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Canadian Revolving Credit Commitments. The Dollar Equivalent of Subject to the terms and conditions hereof, each Canadian Revolving Lender's Canadian Revolving Credit Exposure shall not exceed at any one time the amount set forth opposite such Canadian Revolving Lender's name on Annex I under the caption "Lender with a Canadian Revolving Credit Commitment" , by its acceptance hereof, severally agrees to make a loan or loans (as individually a “Canadian Revolving Loan” and collectively the same may be increased pursuant “Canadian Revolving Loans”) in Canadian Dollars to Section 2.1(h), adjusted pursuant the Canadian Borrowers (or to Section 2.10(aany of them individually) or otherwise from time to time modified pursuant on a revolving basis up to Section 10.7, its "CANADIAN REVOLVING CREDIT COMMITMENT," and collectively for all the amount of such Canadian Revolving Lenders, the "CANADIAN REVOLVING CREDIT COMMITMENTS"; the term "Lender’s Canadian Revolving Credit Commitments" includes Commitment, subject to any reductions thereof pursuant to the requirements terms hereof, before the Revolving Credit Termination Date. The sum of the aggregate principal amount of Canadian Revolving Lenders to purchase participations in the Loans and Canadian Swingline Loans pursuant to Section 2.27 hereof; provided, however, that the Dollar Equivalent of the Aggregate Canadian Revolving Credit Exposure L/C Obligations at any one time outstanding shall not exceed the Canadian Maximum Available Amount Revolving Credit Commitments in effect at such time, except that Agent Advances may result in the Aggregate . Each Borrowing of Canadian Revolving Credit Exposure exceeding Loans shall be made ratably by the amount contemplated Canadian Lenders in clause (bproportion to their respective Canadian Revolver Percentages. As provided in Section 1.6(a) of the definition of "CANADIAN MAXIMUM AVAILABLE AMOUNT" so long as the Aggregate Canadian Revolving Credit Exposure shall not exceed the amount contemplated in clause (a) of the definition of "CANADIAN MAXIMUM AVAILABLE AMOUNT". Within the foregoing limits and subject to the conditions set forth in Article 3hereof, the Canadian Borrowers may obtain Borrowings elect that each Borrowing of Canadian Revolving Credit Loans, repay Loans be either Canadian Base Rate Loans or prepay such Eurocurrency Loans denominated in Canadian Dollars. Canadian Revolving Loans may be repaid and the principal amount thereof reborrowed before the Revolving Credit LoansTermination Date, subject to the terms and conditions hereof. 1.4. Section 1.3 of the Credit Agreement is hereby amended by (a) striking the phrase “(each a “Letter of Credit”)” appearing in Section 1.3(a) and inserting in its place the phrase “(each a “Domestic Letter of Credit”)”, and reborrow such Canadian Revolving all references in Section 1.3 to a Letter of Credit Loansor the Letters of Credit shall hereafter be deemed a reference to a Domestic Letter of Credit or the Domestic Letters of Credit, as applicable, (b) striking the phrase “(each an “Application”)” in Section 1.3(b) and inserting in its place the phrase “(each a “Domestic L/C Application”)”, and all references in Section 1.3 to an Application or the Applications shall hereafter be deemed a reference to a Domestic L/C Application or the Domestic L/C Applications, as applicable, (c) striking the phrase “(a “Reimbursement Obligation”)” in Section 1.3(c) and inserting in its place the phrase “(a “Domestic Reimbursement Obligation”)”, and all references in Section 1.3 to a Reimbursement Obligation or the Reimbursement Obligations shall hereafter be deemed a reference to a Domestic Reimbursement Obligation or the Domestic Reimbursement Obligations, as applicable, and (d) striking the phrases “(a “Participating Lender”)” and “(a “Participating Interest”)” in Section 1.3(d) and inserting in their place the phrases “(a “Participating Domestic Lender”)” and “(a “Participating Domestic Interest”), and all references in Section 1.3 to a Participating Lender or a Participating Interest shall hereafter be deemed a reference to a Participating Domestic Lender and a Participating Domestic Interest, as applicable.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Lojack Corp)

Canadian Revolving Credit Commitments. The Dollar Equivalent of each Canadian Revolving Lender's Canadian Revolving Credit Exposure shall not exceed at any one time the amount set forth opposite such Canadian Revolving Lender's name on Annex I under the caption "Canadian Revolving Credit Commitment" (as the same may be increased pursuant to Section 2.1(h), adjusted pursuant to Section 2.10(a) ), or otherwise from time to time modified pursuant to Section 10.7, its "CANADIAN REVOLVING CREDIT COMMITMENT," and collectively for all Canadian Revolving Lenders, the "CANADIAN REVOLVING CREDIT COMMITMENTS"; the term "Canadian Revolving Credit Commitments" includes the requirements obligations of the Canadian Revolving Lenders to purchase participations in the Canadian Swingline Loans pursuant to Section 2.27 hereofhereof and in Canadian Agent Advances pursuant to Section 2.28(c)); provided, however, that the Dollar Equivalent of the Aggregate Canadian Revolving Credit Exposure at any one time outstanding shall not exceed the Canadian Maximum Available Amount in effect at such time, except that Canadian Agent Advances may result in the Aggregate Canadian Revolving Credit Exposure exceeding the amount contemplated in clause (b) of the definition of "CANADIAN MAXIMUM AVAILABLE AMOUNT" so long as the Aggregate Canadian Revolving Credit Exposure shall not exceed the amount contemplated in clause (a) of the definition of "CANADIAN MAXIMUM AVAILABLE AMOUNT". Within the foregoing limits and subject to the conditions set forth in Article 3, the Canadian Borrowers may obtain Borrowings of Canadian Revolving Credit Loans, repay or prepay such Canadian Revolving Credit Loans, and reborrow such Canadian Revolving Credit Loans.

Appears in 1 contract

Samples: Credit Agreement (Gerdau Ameristeel Corp)

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Canadian Revolving Credit Commitments. The Dollar Equivalent of each Canadian Revolving Lender's ’s Canadian Revolving Credit Exposure shall not exceed at any one time the amount set forth opposite such Canadian Revolving Lender's ’s name on Annex I under the caption "Canadian Revolving Credit Commitment" (as the same may be increased pursuant to Section 2.1(h), adjusted pursuant to Section 2.10(a) or otherwise from time to time modified pursuant to Section 10.7, adjusted pursuant to Section 2.10(a), or reduced pursuant to Section 2.10(e), its "CANADIAN REVOLVING CREDIT COMMITMENT“Canadian Revolving Credit Commitment," and collectively for all Canadian Revolving Lenders, the "CANADIAN REVOLVING CREDIT COMMITMENTS"; the term "Canadian Revolving Credit Commitments" ”; the term “Canadian Revolving Credit Commitments” includes the requirements obligations of the Canadian Revolving Lenders to purchase participations in the Canadian Swingline Loans pursuant to Section 2.27 hereofhereof and in Canadian Agent Advances pursuant to Section 2.28(c)); provided, however, that the Dollar Equivalent of the Aggregate Canadian Revolving Credit Exposure at any one time outstanding shall not exceed the Canadian Maximum Available Amount in effect at such time, except that Canadian Agent Advances may result in the Aggregate Canadian Revolving Credit Exposure exceeding the amount contemplated in clause (b) of the definition of "CANADIAN MAXIMUM AVAILABLE AMOUNT" “Canadian Maximum Available Amount” so long as the Aggregate Canadian Revolving Credit Exposure shall not exceed the amount contemplated in clause (a) of the definition of "CANADIAN MAXIMUM AVAILABLE AMOUNT"“Canadian Maximum Available Amount”. Within the foregoing limits and subject to the conditions set forth in Article 3, the Canadian Borrowers Borrower may obtain Borrowings of Canadian Revolving Credit Loans, repay or prepay such Canadian Revolving Credit Loans, and reborrow such Canadian Revolving Credit Loans.

Appears in 1 contract

Samples: Credit Agreement (Gerdau Ameristeel Corp)

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