Common use of Conversions to Canadian Prime Rate Advances Clause in Contracts

Conversions to Canadian Prime Rate Advances. In the case of a conversion of a Canadian Borrowing by way of Canadian Bankers’ Acceptances into Canadian Prime Rate Advances, each Canadian Bank, in order to satisfy the liability of the Canadian Borrower to it for the face amount of the maturing Canadian Bankers’ Acceptances, shall record the obligation of the Canadian Borrower to it as a Canadian Prime Rate Advance, unless the Canadian Borrower provides for payment to the Canadian Administrative Agent for the benefit of Canadian Banks of the face amount of the maturing Canadian Bankers’ Acceptance in some other manner acceptable to Canadian Banks, including conversion to another Canadian Type of Canadian Borrowing.

Conversions to Canadian Prime Rate Advances. In the case of a conversion Conversion of a Canadian Borrowing by way of Canadian Bankers’ Acceptances into Canadian Prime Rate Advances, each Canadian Bank, in order to satisfy the liability of the Canadian Borrower to it for the face amount of the maturing Canadian Bankers’ Acceptances, shall record the obligation of the Canadian Borrower to it as a Canadian Prime Rate Advance, unless the Canadian Borrower provides for payment to the Canadian Administrative Agent for the benefit of Canadian Banks of the face amount of the maturing Canadian Bankers’ Acceptance in some other manner acceptable to Canadian Banks, including conversion Conversion to another Canadian Type of Canadian Borrowing.

Conversions to Canadian Prime Rate Advances. In the case of a conversion of a Canadian Borrowing by way of Canadian Bankers’ ' Acceptances into Canadian Prime Rate Advances, each Canadian Bank, in order to satisfy the liability of the Canadian Borrower to it for the face amount of the maturing Canadian Bankers’ ' Acceptances, shall record the obligation of the Canadian Borrower to it as a Canadian Prime Rate Advance, unless the Canadian Borrower provides for payment to the Canadian Administrative Agent for the benefit of Canadian Banks of the face amount of the maturing Canadian Bankers’ ' Acceptance in some other manner acceptable to Canadian Banks, including conversion to another Canadian Type of Canadian Borrowing.