Commitment for BA Loans. (i) Subject to the terms and conditions of this Agreement, the Borrower shall be entitled to receive the BA Proceeds of Bankers’ Acceptances denominated in Canadian Dollars in accordance with the provisions of Article II (including, without limitation, this Section 2.7); provided that: (A) the aggregate principal amount of all outstanding BA Loans (after giving effect to any amount requested) shall not exceed the Borrowing Limit; and (B) the aggregate principal amount of all outstanding BA Loans from any Lender shall not at any time exceed such Lender’s Commitment less the such Lender’s Commitment Percentage of outstanding Revolving Credit Loans (other than BA Loans), outstanding Swingline Loans and outstanding L/C Obligations. Each BA Loan shall be funded in Canadian Dollars by each Lender in a principal amount equal to such Lender’s Commitment Percentage of the aggregate principal amount of BA Loans requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow BA Loans hereunder until the Maturity Date. (ii) For the purposes of this Agreement, the full face amount of Bankers’ Acceptances, without discount, shall be used when calculations are made to determine the amount of Loans outstanding. Each determination by the Administrative Agent of the Stamping Fee, the BA Discount Rate and the BA Proceeds shall, in the absence of manifest error, be presumed correct.
Appears in 5 contracts
Samples: Credit Agreement (Bowater Inc), Credit Agreement (Bowater Inc), Credit Agreement (AbitibiBowater Inc.)
Commitment for BA Loans. (i) Subject to the terms and conditions of this Agreement, the Borrower shall be entitled to receive the BA Proceeds of Bankers’ ' Acceptances denominated in Canadian Dollars in accordance with the provisions of Article II (including, without limitation, this Section 2.7); provided that:
(A) the aggregate principal amount of all outstanding BA Loans (after giving effect to any amount requested) shall not exceed the Borrowing Limit; and
(B) the aggregate principal amount of all outstanding BA Loans from any Lender shall not at any time exceed such Lender’s 's Commitment less the such Lender’s 's Commitment Percentage of outstanding Revolving Credit Loans (other than BA Loans), outstanding Swingline Loans and outstanding L/C Obligations. Each BA Loan shall be funded in Canadian Dollars by each Lender in a principal amount equal to such Lender’s 's Commitment Percentage of the aggregate principal amount of BA Loans requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow BA Loans hereunder until the Maturity Date.
(ii) For the purposes of this Agreement, the full face amount of Bankers’ ' Acceptances, without discount, shall be used when calculations are made to determine the amount of Loans outstanding. Each determination by the Administrative Agent of the Stamping Fee, the BA Discount Rate and the BA Proceeds shall, in the absence of manifest error, be presumed correct.
Appears in 3 contracts
Samples: Credit Agreement (AbitibiBowater Inc.), Credit Agreement (AbitibiBowater Inc.), Credit Agreement (AbitibiBowater Inc.)
Commitment for BA Loans. (i) Subject to the terms and conditions of this Agreement, the Borrower shall be entitled to receive the BA Proceeds of Bankers’ Acceptances denominated in Canadian Dollars in accordance with the provisions of Article II (including, without limitation, this Section 2.72.9); provided that:
(A) the aggregate principal amount of all outstanding BA Loans (after giving effect to any amount requested) shall not exceed the Borrowing Limit; and
(B) the aggregate principal amount of all outstanding BA Loans from any Lender shall not at any time exceed such Lender’s Commitment less the such Lender’s Revolving Credit Commitment Percentage of outstanding Revolving Credit Loans (other than BA Loans), outstanding Swingline Loans ) and outstanding L/C ObligationsObligations less such Lender’s Commitment Percentage of the Swingline Commitment less in the case where such Lender is an Additional Credit Lender, the outstanding Additional Credit Loans. Each BA Loan shall be funded in Canadian Dollars by each Lender in a principal amount equal to such Lender’s Revolving Credit Commitment Percentage of the aggregate principal amount of BA Loans requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow BA Loans hereunder until the Maturity Date.
(ii) For the purposes of this Agreement, the full face amount of Bankers’ Acceptances, without discount, shall be used when calculations are made to determine the amount of Loans outstanding. Each determination by the Administrative Agent of the Stamping Fee, the BA Discount Rate and the BA Proceeds shall, in the absence of manifest error, be presumed correct.
Appears in 2 contracts
Samples: Credit Agreement (Bowater Inc), Credit Agreement (AbitibiBowater Inc.)
Commitment for BA Loans. (i) Subject to the terms and conditions of this Agreement, the Canadian Borrower shall be entitled to receive the BA Proceeds of Bankers’ ' Acceptances denominated in Canadian Dollars in accordance with the provisions of Article II (including, without limitation, this Section 2.72.10); provided that:
(A) the aggregate principal amount of all outstanding BA Loans (after giving effect to any amount requested) shall not exceed the Borrowing LimitRevolving Commitment less the sum of (i) all outstanding Revolving Loans (other than BA Loans), (ii) all outstanding Non-Cash Management Swingline Loans, (iii) the Aggregate Cash Management Swingline Commitment and (iv) all outstanding L/C Obligations; and
(B) the aggregate principal amount of all outstanding BA Loans from any Revolving Lender shall not at any time exceed such Revolving Lender’s 's Revolving Commitment less the sum of (1) such Revolving Lender’s Commitment Percentage of outstanding 's Revolving Credit Loans (other than BA Loans)) and (2) such Revolving Lender's Revolving Commitment Percentage of each of the following: (x) all outstanding Non-Cash Management Swingline Loans, outstanding (y) the Aggregate Cash Management Swingline Loans Commitment and (z) all outstanding L/C Obligations. Each BA Loan shall be funded in Canadian Dollars by each Revolving Lender in a principal amount equal to such Revolving Lender’s 's Commitment Percentage of the aggregate principal amount of BA Loans requested on such occasion. Subject to the terms and conditions hereof, the Canadian Borrower may borrow, repay and reborrow BA Loans hereunder until the Maturity Date.
(ii) For the purposes of this Agreement, the full face amount of Bankers’ ' Acceptances, without discount, shall be used when calculations are made to determine the amount of Revolving Loans outstanding. Each determination by the Administrative Agent of the Stamping Fee, the BA Discount Rate and the BA Proceeds shall, in the absence of manifest error, be presumed correct.
Appears in 1 contract
Samples: Credit Agreement (Cott Corp /Cn/)
Commitment for BA Loans. (i) Subject to the terms and conditions of this Agreement, the Borrower shall be entitled to receive the BA Proceeds of Bankers’ Acceptances denominated in Canadian Dollars in accordance with the provisions of Article II (including, without limitation, this Section 2.7); provided that:
(A) the aggregate principal amount of all outstanding BA Loans (after giving effect to any amount requested) shall not exceed the Borrowing Limit; and
(B) the aggregate principal amount of all outstanding BA Loans from any Lender shall not at any time exceed such Lender’s Commitment - less the such Lender’s Revolving Credit Commitment Percentage of outstanding Revolving Credit Loans (other than BA Loans), outstanding Swingline Loans ) and outstanding L/C ObligationsObligations less such Lender's Commitment Percentage of the Swingline Commitment. Each BA Loan shall be funded in Canadian Dollars by each Lender in a principal amount equal to such Lender’s Revolving Credit Commitment Percentage of the aggregate principal amount of BA Loans requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow BA Loans hereunder until the Maturity Date.
(ii) For the purposes of this Agreement, the full face amount of Bankers’ Acceptances, without discount, shall be used when calculations are made to determine the amount of Loans outstanding. Each determination by the Administrative Agent of the Stamping Fee, the BA Discount Rate and the BA Proceeds shall, in the absence of manifest error, be presumed correct.
Appears in 1 contract
Samples: Credit Agreement (Bowater Inc)
Commitment for BA Loans. (i) Subject to the terms and conditions of this Agreement, the Borrower shall be entitled to receive the BA Proceeds of Bankers’ ' Acceptances denominated in Canadian Dollars in accordance with the provisions of Article II (including, without limitation, this Section 2.7); provided that:
(A) the aggregate principal amount of all outstanding BA Loans (after giving effect to any amount requested) shall not exceed the Borrowing Limit; and
(B) the aggregate principal amount of all outstanding BA Loans from any Lender shall not at any time exceed such Lender’s 's Commitment - less the such Lender’s 's Revolving Credit Commitment Percentage of outstanding Revolving Credit Loans (other than BA Loans), outstanding Swingline Loans ) and outstanding L/C ObligationsObligations less such Lender's Commitment Percentage of the Swingline Commitment. Each BA Loan shall be funded in Canadian Dollars by each Lender in a principal amount equal to such Lender’s 's Revolving Credit Commitment Percentage of the aggregate principal amount of BA Loans requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow BA Loans hereunder until the Maturity Date.
(ii) For the purposes of this Agreement, the full face amount of Bankers’ ' Acceptances, without discount, shall be used when calculations are made to determine the amount of Loans outstanding. Each determination by the Administrative Agent of the Stamping Fee, the BA Discount Rate and the BA Proceeds shall, in the absence of manifest error, be presumed correct.
Appears in 1 contract