Common use of Canadian Revolving Loan Commitment Clause in Contracts

Canadian Revolving Loan Commitment. Subject to the terms and conditions set forth herein, each Canadian Lender agrees, severally and not jointly, at any time and from time to time from the Effective Date to the Revolving Loans Maturity Date, to make revolving loans (each a "Canadian Revolving Loan" and collectively, the "Canadian Revolving Loans") to the Canadian Borrower in Canadian dollars or U.S. Dollars and to the U.S. Borrower in U.S. dollars; provided, however, that (i) the aggregate amount of Canadian Revolving Loans outstanding plus BA Revolving Obligations outstanding plus Canadian LOC Obligations outstanding at any one time may not exceed the Canadian Revolving Loan Commitment; (ii) the aggregate amount of U.S. Revolving Loans outstanding plus Canadian Revolving Loans outstanding plus LOC Obligations outstanding plus BA Revolving Obligations outstanding plus Swing Line Loans outstanding may not exceed $225,000,000 (U.S.); and (iii) with regard to each individual Canadian Lender, the Canadian Lender's pro rata share of Canadian Revolving Loans outstanding plus BA Revolving Obligations outstanding plus Canadian LOC Obligations outstanding shall not exceed such Canadian Lender's Canadian Revolving Loan Commitment Percentage of the Canadian Revolving Loan Commitment. Canadian Revolving Loans shall consist of

Appears in 2 contracts

Samples: Credit Agreement (Shorewood Packaging Corp), Credit Agreement (Shorewood Packaging Corp)

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Canadian Revolving Loan Commitment. Subject to the terms and conditions set forth herein, each Canadian Lender agrees, severally and not jointly, at any time and from time to time from the Effective Date to the Revolving Loans Maturity Date, to make revolving loans (each a "Canadian Revolving Loan" and collectively, the "Canadian Revolving Loans") to the Canadian Borrower Borrowers in Canadian dollars Dollars or U.S. Dollars and to Dollars, as requested by the U.S. Borrower in U.S. dollarsCanadian Borrowers; provided, however, that (i) the aggregate amount of Canadian Revolving Loans outstanding plus BA Revolving Obligations outstanding plus Canadian LOC Obligations outstanding plus the aggregate Face Amount of Bankers' Acceptances at any one time may not exceed the lesser of the Canadian Borrowing Base and the Canadian Revolving Loan Commitment; (ii) the aggregate amount of U.S. Revolving Loans outstanding plus Canadian Revolving Loans outstanding plus LOC Obligations outstanding plus BA Revolving Obligations outstanding plus Swing Line Loans outstanding the aggregate Face Amount of Bankers' Acceptances at any one time may not exceed the lesser of the Total Borrowing Base and $225,000,000 40,000,000 (U.S.); and (iii) with regard to each individual Canadian Lender, the Canadian Lender's pro rata share of Canadian Revolving Loans outstanding plus BA Revolving Obligations outstanding plus Canadian LOC Obligations outstanding plus such Canadian Lender's pro rata share of the aggregate Face Amount of Bankers' Acceptances at any one time shall not exceed such Canadian Lender's Canadian Revolving Loan Commitment Percentage of the Canadian Revolving Loan Commitment. Canadian Revolving Loans shall consist ofof Canadian Base Rate Loans, Eurodollar Loans or the creation of Bankers' Acceptances (or a combination thereof) as the Canadian Borrowers may request and the Canadian Borrowers may borrow, repay and reborrow in accordance with the terms hereof. All Canadian Revolving Loans advanced on the Effective Date shall be Canadian Base Rate Loans and may thereafter be converted to Eurodollar Loans in accordance with Section 4.1.

Appears in 1 contract

Samples: Credit Agreement (Cott Corp /Cn/)

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Canadian Revolving Loan Commitment. Subject to the terms and conditions set forth herein, each Canadian Lender agrees, severally and not jointly, at any time and from time to time from the Effective Date to the Revolving Loans Maturity Date, to make revolving loans (each a "Canadian Revolving Loan" and collectively, the "Canadian Revolving Loans") to the Canadian Borrower in Canadian dollars or U.S. Dollars and to the U.S. Borrower in U.S. dollars; provided, however, that (i) the aggregate amount of Canadian Revolving Loans outstanding plus BA Revolving Obligations outstanding plus Canadian LOC Obligations outstanding at any one time may not exceed the Canadian Revolving Loan Commitment; (ii) the aggregate amount of U.S. Revolving Loans outstanding plus Canadian Revolving Loans outstanding plus LOC Obligations outstanding plus BA Revolving Obligations outstanding plus Swing Line Loans outstanding may not exceed $225,000,000 125,000,000 (U.S.); and (iii) with regard to each individual Canadian Lender, the Canadian Lender's pro rata share of Canadian Revolving Loans outstanding plus BA Revolving Obligations outstanding plus Canadian LOC Obligations outstanding shall not exceed such Canadian Lender's Canadian Revolving Loan Commitment Percentage of the Canadian Revolving Loan Commitment. Canadian Revolving Loans shall consist ofof Canadian Base Rate Revolving Loans or Eurodollar Revolving Loans as the Borrowers may request and the Borrowers may borrow, repay and reborrow in accordance with the terms hereof. All Canadian Revolving Loans advanced on the Effective Date shall be Canadian Base Rate Revolving Loans and may thereafter be converted to Eurodollar Revolving Loans or Bankers' Acceptances in accordance with Section 4.1.

Appears in 1 contract

Samples: Credit Agreement (Shorewood Packaging Corp)

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