Common use of Collateralization of Bankers’ Acceptances Clause in Contracts

Collateralization of Bankers’ Acceptances. Bankers’ Acceptances and BA Equivalent Notes may not be prepaid. The Canadian Borrower may, however, at its option, exercisable upon not less than one Business Day’s notice to the Administrative Agent, elect to deposit with the Administrative Agent Canadian Dollars in same-day funds to be held by the Administrative Agent, pursuant to collateral arrangements satisfactory to the Administrative Agent, for application to the payment of any Borrowing of Bankers’ Acceptances or BA Equivalent Notes designated by the Canadian Borrower in such notice. If such a deposit is made, then such Bankers’ Acceptances and BA Equivalent Notes shall be deemed no longer outstanding for purposes of this Agreement; provided that the amount of such deposit shall be not less than the full Face Amount of such Bankers’ Acceptances or BA Equivalent Notes. Furthermore, in the event the maturity of the Bankers’ Acceptances and BA Equivalent Notes is accelerated pursuant to Section 6.01, the Canadian Borrower shall cash collateralize all outstanding Banker’s Acceptances.

Collateralization of Bankers’ Acceptances. Bankers’ Acceptances and BA Equivalent Notes may not be prepaid. The Canadian Borrower may, however, at its option, exercisable upon not less than one Business Day’s notice to the Administrative Sub-Agent, elect to deposit with the Administrative Sub-Agent Canadian Dollars in same-day funds to be held by the Administrative Sub-Agent, pursuant to collateral arrangements satisfactory to the Administrative Sub-Agent, for application to the payment of any Borrowing of Bankers’ Acceptances or BA Equivalent Notes designated by the Canadian Borrower in such notice. If such a deposit is made, then such Bankers’ Acceptances and BA Equivalent Notes shall be deemed no longer outstanding for purposes of this Agreement; provided that the amount of such deposit shall be not less than the full Face Amount of such Bankers’ Acceptances or BA Equivalent Notes. Furthermore, in the event the maturity of the Bankers’ Acceptances and BA Equivalent Notes is accelerated pursuant to Section 6.01, the Canadian Borrower shall cash collateralize all outstanding Banker’s Acceptances.

Collateralization of Bankers’ Acceptances. Bankers’ ' Acceptances and BA Equivalent Notes may not be prepaid. The Canadian Borrower Borrowers may, however, at its their option, exercisable upon not less than one Business Day’s 's notice to the Administrative Agent, elect to deposit with the Administrative Agent Canadian Dollars in same-day funds to be held by the Administrative Agent, pursuant to collateral arrangements satisfactory to the Administrative Agent, for application to the payment of any Borrowing of Bankers’ ' Acceptances or BA Equivalent Notes designated by the Canadian Borrower Borrowers in such notice. If such a deposit is made, then such Bankers’ ' Acceptances and BA Equivalent Notes shall be deemed no longer outstanding for purposes of this Agreement; provided that the amount of such deposit shall be not less than the full Face Amount of such Bankers’ ' Acceptances or BA Equivalent Notes. Furthermore, in the event the maturity of the Bankers’ Acceptances and BA Equivalent Notes is accelerated pursuant to Section 6.01, the Canadian Borrower Borrowers shall cash collateralize all outstanding Banker’s 's Acceptances.

Collateralization of Bankers’ Acceptances. Bankers’ ' Acceptances and BA Equivalent Notes may not be prepaid. The Canadian Borrower Borrowers may, however, at its their option, exercisable upon not less than one Business Day’s 's notice to the Administrative Agent, elect to deposit with the Administrative Agent Canadian Dollars in same-day funds to be held by the Administrative Agent, pursuant to collateral arrangements satisfactory to the Administrative Agent, for application to the payment of any Borrowing of Bankers’ ' Acceptances or BA Equivalent Notes designated by the Canadian Borrower Borrowers in such notice. If such a deposit is made, then such Bankers’ ' Acceptances and BA Equivalent Notes shall be deemed no longer outstanding for purposes of this Agreement; provided that the amount of such deposit shall be not less than the full Face Amount of such Bankers’ ' Acceptances or BA Equivalent Notes. Furthermore, in the event the maturity of the Bankers’ ' Acceptances and BA Equivalent Notes is accelerated pursuant to Section 6.01, the Canadian Borrower Borrowers shall cash collateralize all outstanding Banker’s 's Acceptances.