Circumstances Making Bankers’ Acceptances Unavailable. (a) If the Canadian Administrative Agent determines in good faith, which determination shall be final, conclusive and binding upon the Canadian Borrower, and notifies the Canadian Borrower that, by reason of circumstances affecting the money market, there is no market for Bankers' Acceptances, then: (i) the right of the Canadian Borrower to request a borrowing by way of Bankers' Acceptance shall be suspended until the Canadian Administrative Agent determines that the circumstances causing such suspension no longer exist and the Canadian Administrative Agent so notifies the Canadian Borrower; and (ii) any notice relating to a borrowing by way of Bankers' Acceptance which is outstanding at such time shall be deemed to be a notice requesting a borrowing by way of C$ Prime Loans (all as if it were a notice given pursuant to subsection 2.2). (b) The Canadian Administrative Agent shall promptly notify the Canadian Borrower and the Canadian Lenders of the suspension of the Canadian Borrower's right to request a borrowing by way of Bankers' Acceptance and of the termination of such suspension.
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Samples: Credit Agreement (Viasystems Group Inc), Credit Agreement (Iron Mountain Inc/Pa)
Circumstances Making Bankers’ Acceptances Unavailable. (a) If ----------------------------------------------------- the Canadian Administrative Agent determines in good faith, which determination shall be final, conclusive and binding upon the Canadian Borrower, and notifies the Canadian Borrower that, by reason of circumstances affecting the money market, there is no market for Bankers' Acceptances, then:
(i) the right of the Canadian Borrower to request a borrowing by way of Bankers' Acceptance shall be suspended until the Canadian Administrative Agent determines that the circumstances causing such suspension no longer exist and the Canadian Administrative Agent so notifies the Canadian Borrower; and
(ii) any notice relating to a borrowing by way of Bankers' Acceptance which is outstanding at such time shall be deemed to be a notice requesting a borrowing by way of C$ Prime Loans (all as if it were a notice given pursuant to subsection 2.23.2).
(b) The Canadian Administrative Agent shall promptly notify the Canadian Borrower and the Canadian C$ Lenders of the suspension of the Canadian Borrower's right to request a borrowing by way of Bankers' Acceptance and of the termination of such suspension.
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Samples: Credit Agreement (Pierce Leahy Corp)
Circumstances Making Bankers’ Acceptances Unavailable. (a) If the Canadian Administrative Agent Fronting Lender determines in good faith, which determination shall be final, conclusive and binding upon the Canadian Borrower, and notifies the Canadian Borrower that, by reason of circumstances affecting the money market, there is no market for Bankers' ’ Acceptances, then:
(i) the right of the Canadian Borrower to request a borrowing by way of Bankers' ’ Acceptance shall be suspended until the Canadian Administrative Agent Fronting Lender determines that the circumstances causing such suspension no longer exist and the Canadian Administrative Agent Fronting Lender so notifies the Canadian Borrower; and
(ii) any notice relating to a borrowing by way of Bankers' ’ Acceptance which is outstanding at such time shall be deemed to be a notice requesting a borrowing by way of C$ Prime Loans (all as if it were a notice given pursuant to subsection 2.24.2).
(b) The Canadian Administrative Agent Fronting Lender shall promptly notify the Canadian Borrower and (with a copy to the Canadian Lenders Administrative Agent) of the suspension of the Canadian Borrower's ’s right to request a borrowing by way of Bankers' ’ Acceptance and of the termination of such suspension.
Appears in 1 contract
Samples: Credit Agreement (Jostens Inc)
Circumstances Making Bankers’ Acceptances Unavailable. (a) If the Canadian Administrative Agent determines in good faith, which determination shall be final, conclusive and binding upon the Canadian Borrower, and notifies the Canadian Borrower that, by reason of circumstances affecting the money market, there is no market for Bankers' Acceptances, then:
(i) the right of the Canadian Borrower to request a borrowing by way of Bankers' Acceptance shall be suspended until the Canadian Administrative Agent determines that the circumstances causing such suspension no longer exist and the Canadian Administrative Agent so notifies the Canadian Borrower; and
(ii) any notice relating to a borrowing by way of Bankers' Acceptance which is outstanding at such time shall be deemed to be a notice requesting a borrowing by way of C$ Prime Loans (all as if it were a notice given pursuant to subsection 2.2Section 2.10).
(b) The Canadian Administrative Agent shall promptly notify the Canadian Borrower and the Canadian Lenders of the suspension of the Canadian Borrower's right to request a borrowing by way of Bankers' Acceptance and of the termination of such suspension.
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Circumstances Making Bankers’ Acceptances Unavailable. (a) If ----------------------------------------------------- the Canadian Administrative Agent determines in good faith, which determination shall be final, conclusive and binding upon the Canadian Borrower, and notifies the Canadian Borrower that, by reason of circumstances affecting the money market, there is no market for Bankers' Acceptances, then:
(i) the right of the Canadian Borrower to request a borrowing by way of Bankers' Acceptance shall be suspended until the Canadian Administrative Agent determines that the circumstances causing such suspension no longer exist and the Canadian Administrative Agent so notifies the Canadian Borrower; and
(ii) any notice relating to a borrowing by way of Bankers' Acceptance which is outstanding at such time shall be deemed to be a notice requesting a borrowing by way of C$ Prime Loans Loan (all as if it were a notice given pursuant to subsection 2.23.2).
(b) The Canadian Administrative Agent shall promptly notify the Canadian Borrower and the Canadian C$ Lenders of the suspension of the Canadian Borrower's right to request a borrowing by way of Bankers' Acceptance and of the termination of such suspension.
Appears in 1 contract
Samples: Credit Agreement (Pierce Leahy Corp)
Circumstances Making Bankers’ Acceptances Unavailable. (a) If the Canadian Administrative Funding Agent determines in good faith, which determination shall be final, conclusive and binding upon the Canadian Borrower, and notifies the Canadian Borrower that, by reason of circumstances affecting the money market, there is no market for Bankers' ’ Acceptances, then:
(i) the right of the Canadian Borrower to request a borrowing by way of Bankers' ’ Acceptance shall be suspended until the Canadian Administrative Funding Agent determines that the circumstances causing such suspension no longer exist and the Canadian Administrative Funding Agent so notifies the Canadian Borrower; and
(ii) any notice relating to a borrowing by way of Bankers' ’ Acceptance which is outstanding at such time shall be deemed to be a notice requesting a borrowing by way of C$ Prime Loans (all as if it were a notice given pursuant to subsection 2.2Section 2.10).
(b) The Canadian Administrative Funding Agent shall promptly notify the Canadian Borrower Borrower, the Canadian Administrative Agent and the Canadian Lenders of the suspension of the Canadian Borrower's ’s right to request a borrowing by way of Bankers' ’ Acceptance and of the termination of such suspension.
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Circumstances Making Bankers’ Acceptances Unavailable. (a) If the Canadian Administrative Agent determines in good faith, faith (which determination shall be final, conclusive and binding upon the Canadian Parent Borrower, ) and notifies the Canadian Parent Borrower that, by reason of circumstances affecting the Canadian money market, there is no market for Bankers' Acceptances, then:
(i) the right of the Canadian Parent Borrower to request a borrowing by way of Bankers' Acceptance Acceptances shall be suspended until the Canadian Administrative Agent determines that the circumstances causing such suspension no longer exist and the Canadian Administrative Agent so notifies the Canadian Parent Borrower; and
(ii) any notice relating to a borrowing by way of Bankers' Acceptance Acceptances which is outstanding at such time shall be deemed to be a notice requesting a borrowing by way of C$ Prime Loans (all as if it were a notice given pursuant to subsection 2.2SECTION 2.02(c)).
(b) The Canadian Administrative Agent shall promptly notify the Canadian Parent Borrower and the Canadian Revolving Lenders of the suspension of the Canadian Parent Borrower's right to request a borrowing by way of Bankers' Acceptance Acceptances and of the termination of such suspension.
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