Common use of Completion of Bankers' Acceptance When Not Being Purchased Clause in Contracts

Completion of Bankers' Acceptance When Not Being Purchased. Upon receipt of the written or telephone advice pursuant to Section 3.7(b), each applicable Lender shall complete and sign Bankers' Acceptances on behalf of the Borrower in accordance with the Power of Attorney Terms - Bankers' Acceptances in the form of Schedule I and the particulars advised by the Agent. Such Lenders shall then deliver such Bankers' Acceptances to the person designated to receive such Bankers' Acceptances upon receipt by such Lender of the discounted proceeds of sale payable in respect thereof, in accordance with the particulars so advised by the Agent.

Appears in 3 contracts

Samples: Credit Agreement (PENGROWTH ENERGY Corp), Credit Agreement (PENGROWTH ENERGY Corp), Credit Agreement (PENGROWTH ENERGY Corp)

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Completion of Bankers' Acceptance When Not Being Purchased. Upon receipt of the written or telephone advice pursuant to Section 3.7(b), each applicable Lender shall complete and sign Bankers' Acceptances on behalf of the Borrower in accordance with the Power of Attorney Terms - Bankers' Acceptances in the form of Schedule I H and the particulars advised by the Agent. Such Lenders shall then deliver such Bankers' Acceptances to the person designated to receive such Bankers' Acceptances upon receipt by such Lender of the discounted proceeds of sale payable in respect thereof, in accordance with the particulars so advised by the Agent.

Appears in 2 contracts

Samples: Credit Agreement (Pengrowth Energy Trust), Credit Agreement (Pengrowth Energy Trust)

Completion of Bankers' Acceptance When Not Being Purchased. Upon receipt of the written or telephone advice pursuant to Section 3.7(b3.6(b), each applicable Lender shall complete and sign Bankers' Acceptances on behalf of the Borrower in accordance with the Power of Attorney Terms - Bankers' Acceptances in the form of Schedule I G and the particulars advised by the Agent. Such Lenders shall then deliver such Bankers' Acceptances to the person designated to receive such Bankers' Acceptances upon receipt by such Lender of the discounted proceeds of sale payable in respect thereof, in accordance with the particulars so advised by the Agent.

Appears in 1 contract

Samples: Credit Agreement (Pengrowth Energy Trust)

Completion of Bankers' Acceptance When Not Being Purchased. Upon receipt of the written or telephone advice notice pursuant to Section 3.7(b3.8(b), each applicable Lender shall is thereupon authorized to complete and sign Bankersbankers' Acceptances acceptances on behalf of the Borrower in accordance with the Power of Attorney Terms - Terms—Bankers' Acceptances in the form of Schedule I and the particulars advised by the Agent. Such Lenders shall then deliver such Bankers' Acceptances to the person designated to receive such Bankers' Acceptances upon receipt by each such Lender of the discounted proceeds of sale payable in respect thereof, in accordance with the particulars so advised by the Agent.

Appears in 1 contract

Samples: Credit Agreement (Prima Energy Corp)

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Completion of Bankers' Acceptance When Not Being Purchased. Upon receipt of the written or telephone advice pursuant to Section 3.7(b3.9(c), each applicable Lender shall is thereupon authorized to complete and sign Bankers' Acceptances on behalf of the Borrower in accordance with the Power of Attorney Terms - Bankers' Acceptances in the form of Schedule I and the particulars advised by the Agent. Such Lenders shall then deliver such Bankers' Acceptances to the person designated to receive such Bankers' Acceptances upon receipt by such Lender of the discounted proceeds of sale payable in respect thereof, in accordance with the particulars so advised by the Agent.

Appears in 1 contract

Samples: Credit Agreement (Precision Diversified Oilfield Services Corp.)

Completion of Bankers' Acceptance When Not Being Purchased. Upon receipt of the written or telephone advice pursuant to Section 3.7(b3.10(c), each applicable Lender shall is thereupon authorized to complete and sign Bankers' Acceptances on behalf of the Borrower in accordance with the Power of Attorney Terms - Bankers' Acceptances in the form of Schedule I and the particulars advised by the Agent. Such Lenders shall then deliver such Bankers' Acceptances to the person designated to receive such Bankers' Acceptances upon receipt by such Lender of the discounted proceeds of sale payable in respect thereof, in accordance with the particulars so advised by the Agent.

Appears in 1 contract

Samples: Credit Agreement (PRECISION DRILLING Corp)

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