Creation of Bankers’ Acceptances Sample Clauses

Creation of Bankers’ Acceptances. Upon receipt of a Canadian Committed Borrowing Notice requesting purchase or acceptance of Bankers’ Acceptances, and subject to the provisions of this Agreement, each Canadian Lender shall accept, in accordance with its Pro Rata Share of the requested Canadian Committed Borrowing from time to time such Bankers’ Acceptances as the Canadian Borrower shall request.
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Creation of Bankers’ Acceptances. Upon receipt of a Borrowing Notice requesting a Borrowing by way of Bankers’ Acceptances, and subject to the provisions of this Agreement, each Canadian Lender shall accept, in accordance with its Canadian Percentage Share of the requested Borrowing from time to time such Bankers’ Acceptances as either Canadian Borrower shall request provided that: (a) Bankers’ Acceptances shall be issued on a Business Day; (b) each Bankers’ Acceptance shall have a term of one, two, three or six months (excluding days of grace), as selected by such Canadian Borrower in the relevant Borrowing Notice provided that each Bankers’ Acceptance shall mature on a Business Day; (c) the face amount of each Bankers’ Acceptance shall be not less than C$3,000,000 and in multiples of C$100,000 for any amounts in excess thereof; and (d) each Bankers’ Acceptance shall be in a form acceptable to Canadian Administrative Agent.
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Creation of Bankers’ Acceptances. Each Lender severally agrees, on the terms and subject to the conditions herein set forth, to create Bankers’ Acceptances under the Credit Facilities by accepting Bankers Acceptances in Canadian Dollars in accordance with the provisions of this Agreement.
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Creation of Bankers’ Acceptances. Upon receipt of a Borrowing Notice and subject to the provisions of this Agreement, each Canadian Resident Lender shall accept, in accordance with its Percentage Share of the requested Borrowing from time to time such Bankers' Acceptances as Canadian Borrowers shall request provided that: (a) Bankers' Acceptances shall be issued on a Business Day; (b) each Bankers' Acceptance shall have a term of 30, 60, 90 or 180 days (excluding days of grace), as selected by Canadian Borrowers in the relevant Borrowing Notice provided that each Bankers' Acceptance shall mature on a Business Day; (c) the face amount of each Bankers' Acceptance shall be not less than C$100,000 and in multiples of C$100,000 for any amounts in excess thereof; and (d) each Bankers' Acceptance shall be in a form acceptable to the Canadian Resident Lenders.
Sample 1Sample 2Sample 3
Creation of Bankers’ Acceptances. Banker's Acceptances will be created in response to Borrower's request or the acceptance by CNB of a draft drawn against a Letter of Credit not payable at sight, on the normal documentation used by CNB, and will mature within 120 days. Creation of Banker's Acceptances will be subject to standard CNB fees and charges plus, if applicable, a payment equal to the published CNB Banker's Acceptance discount rate plus one percent (1%). There will be no obligation to accept drafts which would: (a) not be eligible for discount by a Federal Reserve Bank; (b) become a liability subject to reserve requirements under any regulation of the Board of Governors of the Federal Reserve System; or (c) cause CNB to violate any lending limit imposed upon CNB by any law, regulation or administrative order.
Sample 1
Creation of Bankers’ Acceptances. Upon receipt of a Loan Notice requesting a Borrowing by way of Bankers’ Acceptances, which notice is received by the Administrative Agent not later than 1:00 p.m. two Business Days prior to the requested day of such Borrowing, and subject to the provisions of this Agreement, each Canadian Revolver Lender shall accept, in accordance with its Canadian Revolver Percentage of the requested Borrowing from time to time such Bankers’ Acceptances as the Canadian Borrower shall request; provided that: (a) Bankers’ Acceptances shall be issued on a Business Day; (b) each Bankers’ Acceptance shall have a term of 30, 60, 90 or 180 days or, as agreed to by the relevant Canadian Revolver Lenders, 14-29 days (in each case, as reduced or extended by the Administrative Agent, acting reasonably, to allow the maturity thereof to fall on a Business Day), or such other term as agreed to by the Canadian Revolver Lenders, payable in Canada, as selected by the Canadian Borrower in the relevant Loan Notice provided that each Bankers’ Acceptance shall mature on a Business Day; (c) the aggregate face amount of Bankers’ Acceptances issued in respect of such Loan Notice shall be not less than C$5,000,000 and in multiples of C$1,000,000 for any amounts in excess thereof; and (d) each Bankers’ Acceptance shall be in a form acceptable to the Administrative Agent.
Sample 1
Creation of Bankers’ Acceptances. Upon receipt of a Drawdown Notice and subject to the provisions of this Agreement, the Lenders shall accept, on a Pro Rata Share basis, (but shall be under no obligation to purchase or discount) from time to time such Cdn. Dollar bills of exchange as the Borrower shall request provided that: (a) Bankers' Acceptances shall be issued on a Banking Day; (b) each Bankers' Acceptance shall have a term from 1 month to 6 months (excluding days of grace), as selected by the Borrower in the relevant Drawdown Notice, or such other term as is agreed upon by the Borrower and the Lenders provided that each Bankers' Acceptance shall mature on a Banking Day; and
Sample 1
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Creation of Bankers’ Acceptances. Upon receipt of a Committed Loan Notice requesting a Borrowing by way of Bankers’ Acceptances, which notice is received by the Canadian Administrative Agent not later than 1:00 p.m. one Business Day prior to the requested day of such Borrowing, and subject to the provisions of this Agreement, each Canadian Lender shall accept, in accordance with its Canadian Applicable Percentage of the requested Borrowing from time to time such Bankers’ Acceptances as the Canadian Borrower shall request provided that: (a) Bankers’ Acceptances shall be issued on a Canadian Business Day; (b) each Bankers’ Acceptance shall have a term of one, two, three or six months (excluding days of grace), or such shorter period as may be agreed to by the Canadian Lenders), as selected by the Canadian Borrower in the relevant Committed Loan Notice provided that each Bankers’ Acceptance shall mature on a Canadian Business Day; (c) the face amount of each Bankers’ Acceptance shall be not less than C$5,000,000 and in multiples of C$1,000,000 for any amounts in excess thereof; and (d) each Bankers’ Acceptance shall be in a form acceptable to the Canadian Administrative Agent.
Sample 1
Creation of Bankers’ Acceptances. Upon receipt of a Borrowing Notice and subject to the provisions of this Agreement, each Lender shall accept, in accordance with its Percentage Share of the requested Borrowing from time to time, such Bankers' Acceptances as Borrowers shall request provided that: (a) Bankers' Acceptances shall be issued on a Business Day; (b) each Bankers' Acceptance shall have a term of 30, 60, 90 days or 180 days (excluding days of grace), as selected by Borrowers in the relevant Borrowing Notice or such term shorter than 30 days as may be available in the market; provided that each Bankers' Acceptance shall mature on a Business Day and that a Bankers' Acceptances may not be requested with a maturity date which is more than 60 days after the then current Maturity Date; (c) the face amount of each Bankers' Acceptance shall be not less than Cdn. $100,000 and in multiples of Cdn. $100,000 for any amounts in excess thereof; and (d) each Bankers' Acceptance shall be in the applicable Lender's standard form.
Sample 1

Related to Creation of Bankers’ Acceptances

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • Reserves on Eurodollar Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

  • Reserves on LIBOR Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error), payable on each date on which interest is payable on such Loan provided the Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to Agent) of such additional interest from the Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

  • Illegality or Impracticability of Eurodollar Rate Loans In the event that on any date any Lender shall have determined (which determination shall be final and conclusive and binding upon all parties hereto but shall be made only after consultation with Company and Administrative Agent) that the making, maintaining or continuation of its Eurodollar Rate Loans (i) has become unlawful as a result of compliance by such Lender in good faith with any law, treaty, governmental rule, regulation, guideline or order (or would conflict with any such treaty, governmental rule, regulation, guideline or order not having the force of law even though the failure to comply therewith would not be unlawful) or (ii) has become impracticable, or would cause such Lender material hardship, as a result of contingencies occurring after the date of this Agreement which materially and adversely affect the interbank Eurodollar market or the position of such Lender in that market, then, and in any such event, such Lender shall be an "Affected Lender" and it shall on that day give notice (by telefacsimile or by telephone confirmed in writing) to Company and Administrative Agent of such determination (which notice Administrative Agent shall promptly transmit to each other Lender). Thereafter (a) the obligation of the Affected Lender to make Loans as, or to convert Loans to, Eurodollar Rate Loans shall be suspended until such notice shall be withdrawn by the Affected Lender, (b) to the extent such determination by the Affected Lender relates to a Eurodollar Rate Loan then being requested by Company pursuant to a Notice of Borrowing or a Notice of Conversion/Continuation, the Affected Lender shall make such Loan as (or convert such Loan to, as the case may be) a Base Rate Loan, (c) the Affected Lender's obligation to maintain its outstanding Eurodollar Rate Loans (the "Affected Loans") shall be terminated at the earlier to occur of the expiration of the Interest Period then in effect with respect to the Affected Loans or when required by law, and (d) the Affected Loans shall automatically convert into Base Rate Loans on the date of such termination. Notwithstanding the foregoing, to the extent a determination by an Affected Lender as described above relates to a Eurodollar Rate Loan then being requested by Company pursuant to a Notice of Borrowing or a Notice of Conversion/Continuation, Company shall have the option, subject to the provisions of subsection 2.6D, to rescind such Notice of Borrowing or Notice of Conversion/Continuation as to all Lenders by giving notice (by telefacsimile or by telephone confirmed in writing) to Administrative Agent of such rescission on the date on which the Affected Lender gives notice of its determination as described above (which notice of rescission Administrative Agent shall promptly transmit to each other Lender). Except as provided in the immediately preceding sentence, nothing in this subsection 2.6C shall affect the obligation of any Lender other than an Affected Lender to make or maintain Loans as, or to convert Loans to, Eurodollar Rate Loans in accordance with the terms of this Agreement.

  • Designation of a Different Lending Office If any Lender requests compensation under Section 3.04, or the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then such Lender shall use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

  • Reserves on Eurocurrency Rate Loans The Domestic Borrower shall pay (or cause the Foreign Borrower to pay) to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive) and (ii) without duplication of any cost in clause (i) of this clause (e), as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Domestic Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

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