Currency Excess. (1) If the Agent shall determine that the aggregate Outstanding Principal of the outstanding Loans under the Credit Facility exceeds the maximum principal amount of the Credit Facility in United States Dollars (the amount of such excess is herein called the “Currency Excess”), then, upon written request by the Agent (which request shall detail the applicable Currency Excess), the Borrower shall repay an amount of Canadian Prime Rate Loans or U.S. Base Rate Loans under the Credit Facility within (a) if the Currency Excess exceeds 3.0% of the amount of the Credit Facility, 5 Banking Days, and (b) in all other cases, 20 Banking Days after receipt of such request, such that, except as otherwise contemplated in Section 2.17(2), the amount or the Equivalent Amount in United States Dollars of such repayments is, in the aggregate, at least equal to the Currency Excess.
(2) If, in respect of any Currency Excess, the repayments made by the Borrower have not completely removed such Currency Excess (the remainder thereof being herein called the “Currency Excess Deficiency”), the Borrower shall within the aforementioned 5 or 20 Banking Days, as the case may be, after receipt of the aforementioned request of the Agent, place an amount equal to the Currency Excess Deficiency on deposit with the Agent in an interest-bearing account with interest at rates prevailing at the time of deposit for the account of the Borrower, to be assigned to the Agent on behalf of the Lenders by instrument satisfactory to the Agent and to be applied to maturing Bankers’ Acceptances or Libor Loans (converted if necessary at the exchange rate for determining the Equivalent Amount on the date of such application). The Agent is hereby irrevocably directed by the Borrower to apply any such sums on deposit to maturing Loans as provided in the preceding sentence. In lieu of providing funds for the Currency Excess Deficiency, as provided in the preceding provisions of this Section, the Borrower may within the said period of 5 or 20 Banking Days, as the case may be, provide to the Agent an irrevocable standby letter of credit in an amount equal to the Currency Excess Deficiency and for a term which expires not sooner than 10 Banking Days after the date of maturity of the relevant Bankers’ Acceptances or Libor Loans, as the case may be; such letter of credit shall be issued by a financial institution, and shall be on terms and conditions, acceptable to the Agent in its sole discretion. The Agent is her...
Currency Excess. (1) If the Agent shall determine that the aggregate Outstanding Principal of the outstanding Loans under the Credit Facility exceeds the maximum amount of the Credit Facility (the amount of such excess is herein called the “Currency Excess”), then, upon written request by the Agent (which request shall detail the applicable Currency Excess), the Borrower shall repay an amount of Canadian Prime Rate Loans or U.S. Base Rate Loans under the Credit Facility within (a) if the Currency Excess exceeds Cdn.$25,000,000, 5 Banking Days, and (b) in all other cases, 20 Banking Days after receipt of such request, such that, except as otherwise contemplated in Section 2.18(2), the Equivalent Amount in Canadian Dollars of such repayments is, in the aggregate, at least equal to the Currency Excess.
(2) If, in respect of any Currency Excess, the repayments made by the Borrower have not completely removed such Currency Excess (the remainder thereof being herein called the
Currency Excess. (1) If the Agent, in the case of the Syndicated Facility, or the Operating Lender (as the case may be), in the case of an Operating Facility, shall determine that the aggregate Outstanding Principal of the outstanding Loans under such a given Credit Facility exceeds the maximum amount of such Credit Facility (the amount of such excess is herein called the “Currency Excess”), then, upon written request by the Agent or the Operating Lender (as the case may be) (which request shall detail the applicable Currency Excess), the Borrower shall repay an amount of Canadian Prime Rate Loans or U.S. Base Rate Loans under such Credit Facility within (a) if the Currency Excess exceeds 2.5% of the amount of such Credit Facility, 5 Banking Days, and
Currency Excess. (a) If the Agent determines that the aggregate Outstanding Principal of the outstanding Loans under any Credit Facility exceeds the maximum amount of such Credit Facility (the amount of such excess is herein called the Currency Excess), then, upon wri...
(b) If and to the extent that the Borrower does not make sufficient repayments to eliminate such Currency Excess (the remainder thereof being herein called the Currency Excess Deficiency), the Borrower shall place an amount equal to the Currency Exces...
Currency Excess. If at any time the Canadian dollar equivalent of all outstanding -------- advances based on the noon (Toronto time) Bank of Canada exchange rate exceeds the available facility amount (a "Currency Excess"), the Borrower will repay forthwith Cdn. Prime Rate Loans or USBR Loans until such time as the Currency Excess is eliminated. If a Currency Excess remains after repayment of all Cdn. Prime Rate Loans or USBR Loans, then the Borrower will:
Currency Excess. If the Agent shall determine that the aggregate Outstanding Principal of the outstanding Loans under any Credit Facility exceeds the maximum amount of such Credit Facility by at least 5% of such Credit Facility due to fluctuations in currency (the amount of such excess is herein called the "Currency Excess"), then, upon written request by the Agent (which request shall detail the applicable Currency Excess), the Borrower shall repay an amount of such Loans no later than 5 Banking Days after receipt of such request, such that the Equivalent Amount in Canadian Dollars of such repayments is, in the aggregate, at least equal to the Currency Excess.
Currency Excess
