Common use of Circumstances Making Bankers’ Acceptances Unavailable Clause in Contracts

Circumstances Making Bankers’ Acceptances Unavailable. (1) If, by reason of circumstances affecting the money market generally, as determined by the Agent, there is no market for Bankers’ Acceptances and Drafts, (i) the right of the Canadian Borrower to request a Drawing shall be suspended until the circumstances causing a suspension no longer exist; and (ii) any Drawing Notice which is outstanding shall be deemed to be a Borrowing Notice requesting a Canadian Prime Rate Advance unless it has been revoked by the Canadian Borrower before the specified Drawing Date.

Circumstances Making Bankers’ Acceptances Unavailable. (1) If, by reason of circumstances affecting the money market generally, as determined by the Administrative Agent, there is no market for Bankers’ Banker’s Acceptances and Drafts, (i) the right of the Canadian Borrower to request a Drawing shall be suspended until the circumstances causing a suspension no longer exist; and (ii) any Drawing Notice which is outstanding shall be deemed to be a Borrowing Notice requesting a Canadian Prime Rate Advance unless it has been revoked by the Canadian Borrower before the specified Drawing Date.

Circumstances Making Bankers’ Acceptances Unavailable. (1i) If, by reason of circumstances affecting the money market generally, as determined by the Administrative Agent, there is no market for Bankers’ Banker’s Acceptances and Drafts, (i) the right of the Canadian Borrower to request a Drawing shall be suspended until the circumstances causing a suspension no longer exist; and (ii) any Drawing Notice which is outstanding shall be deemed to be a Borrowing Committed Loan Notice requesting a Canadian Prime Rate Advance Loan unless it has been revoked by the Canadian Borrower before the specified Drawing Date.

Circumstances Making Bankers’ Acceptances Unavailable. (1i) If, by reason of circumstances affecting the money market generally, as determined by the Administrative Agent, there is no market for Bankers’ Acceptances and Drafts, (i) the right of the Canadian Borrower to request a Drawing shall be suspended until the circumstances causing a suspension no longer exist; and (ii) any Drawing Notice which is outstanding shall be deemed to be a Borrowing Committed Loan Notice requesting a Canadian Prime Rate Advance Loan unless it has been revoked by the Canadian Borrower before the specified Drawing Date.