Common use of Continuations Clause in Contracts

Continuations. In the case of a Continuation of maturing Bankers' Acceptances, issued by a Canadian Resident Lender, such Canadian Resident Lender, in order to satisfy the continuing liability of Canadian Borrowers to the Canadian Resident Lender for the face amount of the maturing Bankers' Acceptances, shall retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Continuation; and Canadian Borrowers shall, on the maturity date of the maturing Bankers' Acceptances, pay to Canadian Agent for the benefit of Canadian Resident Lenders an amount equal to the difference between the face amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.

Appears in 3 contracts

Samples: Credit Agreement (Devon Energy Corp/De), Credit Agreement (Devon Energy Corp /Ok/), Credit Agreement (Devon Energy Corp)

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Continuations. In the case of a Continuation of maturing Bankers' Acceptances, issued by ’ Acceptances of a Canadian Resident LenderBorrower, such each Canadian Resident Lender, Lender in order to satisfy the continuing liability of such Canadian Borrowers Borrower to the Canadian Resident Lender for the face amount of the maturing Bankers' Acceptances, shall retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Continuation; and each Canadian Borrowers Borrower shall, on the maturity date of the maturing Bankers' Acceptances’ Acceptances of such Canadian Borrower, pay to Canadian Administrative Agent for the benefit of Canadian Resident Lenders an amount equal to the difference between the face amount of the such maturing Bankers' Acceptances and the aggregate Net Proceeds of the such new Bankers' Acceptances.

Appears in 2 contracts

Samples: Credit Agreement (Plains All American Pipeline Lp), Credit Agreement (Plains All American Pipeline Lp)

Continuations. In the case of a Continuation of maturing Bankers' ------------- Acceptances, issued by a each Canadian Resident Lender, such Canadian Resident Lender, Revolver Lender in order to satisfy the continuing liability of Canadian Borrowers Revolver Borrower to the Canadian Resident Revolver Lender for the face amount of the maturing Bankers' Acceptances, shall retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Continuation; and Canadian Borrowers Revolver Borrower shall, on the maturity date of the maturing Bankers' Acceptances, pay to Canadian Administration Agent for the benefit of Canadian Resident Revolver Lenders an amount equal to the difference between the face amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

Continuations. In the case of a Continuation of maturing Bankers' Acceptances, issued by Acceptances of a Canadian Resident LenderBorrower, such each Canadian Resident Lender, Lender in order to satisfy the continuing liability of such Canadian Borrowers Borrower to the Canadian Resident Lender for the face amount of the maturing Bankers' Acceptances, shall retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Continuation; and each Canadian Borrowers Borrower shall, on the maturity date of the maturing Bankers' AcceptancesAcceptances of such Canadian Borrower, pay to Canadian Administrative Agent for the benefit of Canadian Resident Lenders an amount equal to the difference between the face amount of the such maturing Bankers' Acceptances and the aggregate Net Proceeds of the such new Bankers' Acceptances.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

Continuations. In the case of a Continuation continuation of maturing Bankers' Acceptances’ Acceptances of the Canadian Borrower, issued by a each Canadian Resident Lender, such Canadian Resident Lender, Lender in order to satisfy the continuing liability of the Canadian Borrowers Borrower to the Canadian Resident Lender for the face amount of the maturing Bankers' Acceptances, shall retain for its own account the Net BA Proceeds of each new Bankers' Acceptance issued by it in connection with such Continuationcontinuation; and the Canadian Borrowers Borrower shall, on the maturity date of the maturing Bankers' Acceptances’ Acceptances of the Canadian Borrower, pay to Canadian Administrative Agent for the benefit of Canadian Resident Lenders an amount equal to the difference between the face amount of the such maturing Bankers' Acceptances and the aggregate Net BA Proceeds of the such new Bankers' Acceptances.

Appears in 1 contract

Samples: Credit Agreement (Pacific Energy Partners Lp)

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Continuations. In the case of a Continuation of maturing Bankers' Acceptances, issued by a each Canadian Resident Lender, such Canadian Resident Lender, Revolver Lender in order to satisfy the continuing liability of Canadian Borrowers Revolver Borrower to the Canadian Resident Revolver Lender for the face amount of the maturing Bankers' Acceptances, shall retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Continuation; and Canadian Borrowers Revolver Borrower shall, on the maturity date of the maturing Bankers' Acceptances, pay to Canadian Administration Agent for the benefit of Canadian Resident Revolver Lenders an amount equal to the difference between the face amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

Continuations. In the case of a Continuation of maturing Bankers' Acceptances, issued by a each Canadian Resident Lender, such Canadian Resident Lender, Lender in order to satisfy the continuing liability of Canadian Borrowers Working Capital Borrower to the Canadian Resident Lender for the face amount of the maturing Bankers' Acceptances, shall retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Continuation; and Canadian Borrowers Working Capital Borrower shall, on the maturity date of the maturing Bankers' Acceptances, pay to Canadian Administrative Agent for the benefit of Canadian Resident Lenders an amount equal to the difference between the face amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

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