Common use of Canadian Revolving Credit Loans Clause in Contracts

Canadian Revolving Credit Loans. (a) Subject to the terms and conditions hereof, the Canadian Lender agrees, for so long as no Default or Event of Default exists, to make loans to Canadian Borrower denominated in U.S. Dollars or Canadian Dollars (each such loan or extension of credit, a "Canadian Revolving Credit Loan") from time to time during the period from the date hereof to but not including the last day of the Term, as requested by the Borrower Representative in the manner set forth in Section 3.1.1(b) hereof; provided that no Canadian Revolving Credit Loan shall be made if, after giving effect to the making of such Loan and the simultaneous application of the proceeds thereof, (i) with respect to each Lender, the amount of the Domestic Revolving Credit Exposure of such Lender would exceed such Lender's Domestic Revolving Credit Commitment minus the outstanding principal amount of that portion of the Domestic Term Loan owing to such Lender minus such Lender's Canadian Percentage of the Dollar Equivalent of the aggregate principal amount of the outstanding Canadian Revolving Credit Loans minus such Lender's Canadian Percentage of the Dollar Equivalent of the outstanding principal amount of the Canadian Term Loan minus such Lender's Domestic Revolving Loan Percentage of reserves, if any, (ii) the aggregate amount of the Canadian Revolving Credit Exposure of the Canadian Lender would exceed the Canadian Borrowing Base then in effect minus reserves, if any, or (iii) the aggregate amount of the Domestic Revolving Credit Exposure of all the Lenders would exceed the Revolving Credit Maximum Amount minus the outstanding principal amount of the Domestic Term Loan minus the Dollar Equivalent of the aggregate principal amount of the outstanding Canadian Revolving Credit Loans minus the Dollar Equivalent of the outstanding principal amount of the Canadian Term Loan minus reserves, if any. Canadian Revolving Credit Loans may be borrowed as Canadian Base Rate Loans or Canadian Fixed Rate Loans. The Canadian Revolving Credit Loans shall be further evidenced by, and repayable in accordance with the terms of, the applicable Revolving Note and shall be secured by all of the Canadian Collateral and the Domestic Collateral. Amounts borrowed under this Section 1.1.2 may be repaid in whole or in part and, up to but excluding the last day of the Term, reborrowed, all in accordance with the terms and conditions hereof. Upon the making of each such Canadian Revolving Credit Loan and subject to Section 3.2.6, each Canadian Participating Lender shall be deemed to have irrevocably and unconditionally purchased from the Canadian Lender, without recourse or warranty, an undivided interest and participation in each Canadian Revolving Credit Loan to the extent of such Canadian Participating Lender's Canadian Percentage thereof.

Canadian Revolving Credit Loans. (a) Subject to the terms and conditions hereof, the Canadian Lender agrees, for so long as no Default or Event of Default exists, to make loans to Canadian Borrower denominated in U.S. Dollars or Canadian Dollars (each such loan or extension of credit, a "Canadian Revolving Credit Loan") from time to time during the period from the date hereof to but not including the last day of the Term, as requested by the Borrower Representative in the manner set forth in Section 3.1.1(b) hereof; provided that no Canadian Revolving Credit Loan shall be made if, after giving effect to the making of such Loan and the simultaneous application of the proceeds thereof, (i) with respect to each Lender, the amount of the Domestic Revolving Credit Exposure of such Lender would exceed such Lender's Domestic Revolving Credit Commitment minus the outstanding principal amount of that portion of the Domestic Term Loan owing to such Lender minus such Lender's Canadian Percentage of the Dollar Equivalent of the aggregate principal amount of the outstanding Canadian Revolving Credit Loans minus such Lender's Canadian Percentage of the Dollar Equivalent of the outstanding principal amount of the Canadian Term Loan minus such Lender's Domestic Revolving Loan Percentage of reserves, if any, (ii) the aggregate amount of the Canadian Revolving Credit Exposure of the Canadian Lender would exceed the Canadian Borrowing Base then in effect minus reservesReserves applicable to Canadian Revolving Credit Loans, if any, or (iiiii) the aggregate amount of the Domestic Revolving Credit Exposure of all the Lenders would exceed the Revolving Credit Maximum Amount minus the outstanding principal amount of the Domestic Term Loan minus the Dollar Equivalent of the aggregate principal amount of the outstanding Canadian Revolving Credit Loans minus the Dollar Equivalent of the aggregate principal amount of the outstanding UK Revolving Credit Loans minus the Dollar Equivalent of the outstanding principal amount of the Canadian UK Term Loan Loans minus reservesthe Dollar Equivalent of the UK LC Amount minus Reserves, if any. Canadian Revolving Credit Loans may be borrowed as Canadian Base Rate Loans or Canadian Fixed Rate Loans. The Canadian Revolving Credit Loans shall be further evidenced by, and repayable in accordance with the terms of, the applicable Revolving Note and shall be secured by all of the Canadian Collateral and the Domestic Collateral. Amounts borrowed under this Section 1.1.2 may be repaid in whole or in part and, up to but excluding the last day of the Term, reborrowed, all in accordance with the terms and conditions hereof. Upon the making of each such Canadian Revolving Credit Loan and subject to Section 3.2.6, each Canadian Participating Lender shall be deemed to have irrevocably and unconditionally purchased from the Canadian Lender, without recourse or warranty, an undivided interest and participation in each Canadian Revolving Credit Loan to the extent of such Canadian Participating Lender's Canadian Percentage thereof.

Canadian Revolving Credit Loans. (a) Subject to the terms and conditions hereof, the Canadian Lender agrees, for so long as no Default or Event of Default exists, to make loans Revolving Credit Loans to Canadian Borrower denominated in U.S. Dollars or Canadian Dollars Borrowers (each such loan or extension of credit, a "Canadian Revolving Credit LoanCANADIAN REVOLVING CREDIT LOAN") from time to time during the period from the date hereof to but not including the last day of the Term, as requested by the Borrower Representative Representative, on behalf of Canadian Borrowers, in the manner set forth in Section 3.1.1(b) SUBSECTION 3.1.1 hereof; provided that no Canadian Revolving Credit Loan shall be made if, after giving effect up to a maximum principal amount at any time outstanding in Dollar Equivalents equal to the making lesser of such Loan and the simultaneous application of the proceeds thereof, (i) with respect to each Lender, the amount of the Domestic Revolving Credit Exposure of such Lender would exceed such Lender's Domestic Revolving Credit Commitment minus the outstanding principal amount of that portion of the Domestic Term Loan owing to such Lender minus such Lender's Canadian Percentage of Sublimit MINUS the Dollar Equivalent of the aggregate principal Canadian LC Obligations MINUS the Dollar Equivalent of reserves, if any imposed on Canadian Borrowers pursuant to this Section and (ii) an amount of the outstanding Canadian Revolving Credit Loans minus such Lender's Canadian Percentage of equal to the Dollar Equivalent of the outstanding principal amount of the Canadian Term Loan minus such Lender's Domestic Revolving Loan Percentage of reserves, if any, (ii) the aggregate amount of the Canadian Revolving Credit Exposure of the Canadian Lender would exceed the Canadian Borrowing Base then in effect minus reserves, if any, or (iii) the aggregate amount of the Domestic Revolving Credit Exposure of all the Lenders would exceed the Revolving Credit Maximum Amount minus the outstanding principal amount of the Domestic Term Loan minus at such time MINUS the Dollar Equivalent of the aggregate principal amount Canadian LC Obligations MINUS the Dollar Equivalent of the outstanding reserves imposed on Canadian Borrowers, if any, pursuant to this Section. The Canadian Revolving Credit Loans minus made by Canadian Lender for the Dollar Equivalent benefit of Canadian Borrowers shall be denominated in Canadian Dollars. Agent and Canadian Agent shall have the outstanding principal right to establish reserves in such amounts, and with respect to such matters, as Agent and Canadian Agent shall reasonably deem necessary or appropriate in their reasonable credit judgment, against the amount of the Canadian Term Loan minus reserves, if any. Canadian Revolving Credit Loans which Canadian Borrowers may be borrowed otherwise request under this SUBSECTION 1.1.1 including without limitation with respect to (i) price adjustments, damages, unearned discounts, returned products or other matters for which credit memoranda are issued in the ordinary course of Canadian Borrowers' business; (ii) potential dilution related to Accounts of Canadian Borrowers; (iii) other sums chargeable against Canadian Borrowers' Loan Account as Canadian Base Rate Revolving Credit Loans under any section of this Agreement; (iv) amounts owing by any Canadian Borrower to any Person to the extent secured by a Lien on, or trust over, any Canadian Fixed Rate LoansCollateral of any Canadian Borrower, including Prior Claims, landlord, bailee and customs claims which are not subordinated to the satisfaction of Agent; (v) amounts owing by any Canadian Borrower in connection with Product Obligations; and (vi) such other specific events, conditions or contingencies with respect to any Canadian Borrower as to which Agent and Canadian Agent, in their reasonable credit judgment exercised in good faith, determine reserves should be established from time to time hereunder. The Canadian Revolving Credit Loans shall be further evidenced by, and repayable in accordance with the terms of, of the applicable Revolving Note Notes and shall be secured by all of the Canadian Collateral and the Domestic Collateral. Amounts borrowed under this Section 1.1.2 may be repaid in whole or in part and, up to but excluding the last day of the Term, reborrowed, all in accordance with the terms and conditions hereof. Upon the making of each such Canadian Revolving Credit Loan and subject to Section 3.2.6, each Canadian Participating Lender shall be deemed to have irrevocably and unconditionally purchased from the Canadian Lender, without recourse or warranty, an undivided interest and participation in each Canadian Revolving Credit Loan to the extent of such Canadian Participating Lender's Canadian Percentage thereof.

Canadian Revolving Credit Loans. (a) Subject to the terms and conditions hereof, the Each Canadian Lender agrees, severally and not jointly, for so long as no Default or Event of Default exists, to make loans denominated in Canadian Dollars (“Canadian Revolving Credit Loans”) to Canadian Borrower denominated in U.S. Dollars or Canadian Dollars (each such loan or extension of credit, a "Canadian Revolving Credit Loan") from time to time during the period from the date hereof to but not including the last day of the Term, as requested by the Canadian Borrower Representative in the manner set forth in Section 3.1.1(bsubsection 3.1.1(i) hereof; provided that , up to a maximum principal amount at any time outstanding equal to the lesser of (i) the product of such Canadian Lender’s Canadian Revolving Loan Percentage and the Aggregate Canadian Revolving Loan Commitment minus the product of such Canadian Lender’s Canadian Revolving Loan Percentage and the sum of the Canadian LC Amount and the Canadian LC Obligations, and (ii) the product of such Canadian Lender’s Canadian Revolving Loan Percentage and an amount equal to the Canadian Borrowing Base at such time minus the product of such Canadian Lender’s Canadian Revolving Loan Percentage and the sum of the Canadian LC Amount and the Canadian LC Obligations minus the product of such Canadian Lender’s Canadian Revolving Loan Percentage and reserves imposed on Canadian Borrower, if any, in accordance with this Agreement. Notwithstanding the foregoing, no Canadian Lender shall make any Canadian Revolving Credit Loan shall be made if, after giving effect to if as a result the making of such Loan and the simultaneous application of the proceeds thereof, (i) with respect to each Lender, the amount of the Domestic Revolving Credit Exposure of such Lender would exceed such Lender's Domestic Revolving Credit Commitment minus the outstanding principal amount of that portion of the Domestic Term Loan owing to such Lender minus such Lender's Canadian Percentage of the Dollar Equivalent of the aggregate principal amount of the outstanding Canadian Revolving Credit Loans minus such Lender's Canadian Percentage of the Dollar Equivalent of the outstanding principal amount of the Canadian Term Loan minus such Lender's Domestic Revolving Loan Percentage of reserves, if any, (ii) the aggregate amount of the Canadian Revolving Credit Exposure of the Canadian Lender would exceed the Canadian Borrowing Base then in effect minus reserves, if any, or (iii) the aggregate amount of the Domestic Revolving Credit Exposure of all the Canadian Lenders would exceed the Revolving Credit Maximum Amount minus the outstanding principal amount of the Domestic Term Loan minus the Dollar Equivalent of the aggregate principal amount of the outstanding Canadian Revolving Credit Loans minus the Dollar Equivalent of the outstanding principal amount of the Canadian Term Loan minus reserves, if any. Canadian U.S. Revolving Credit Loans may be borrowed as Canadian Base Rate Loans or Canadian Fixed Rate Loans. The Canadian Revolving Credit Loans shall be further evidenced by, and repayable in accordance with the terms of, the applicable Revolving Note and shall be secured by all of the Canadian Collateral and the Domestic Collateral. Amounts borrowed under this Section 1.1.2 subsection 1.1.1 may be repaid in whole or in part and, up to but excluding the last day of the Term, reborrowed, all in accordance with the terms and conditions hereof. Upon The Canadian Revolving Credit Loans shall be repayable in accordance with the making terms of each such the Canadian Revolving Credit Loan Notes and subject to Section 3.2.6, each Canadian Participating Lender shall be deemed to have irrevocably and unconditionally purchased from secured by all of the Canadian LenderCollateral (directly, without recourse or warranty, an undivided interest and participation in each Canadian Revolving Credit Loan pursuant to the extent of such Canadian Participating Lender's Canadian Percentage thereofguarantee by U.S. Borrower set out in Section 2.13 or pursuant to any Guarantee Agreement granted by any other Person).