Common use of Depository Bills Clause in Contracts

Depository Bills. It is the intention of the Parties that pursuant to the Depository Bills and Notes Act (Canada) (“DBNA”), all Bankers' Acceptances accepted by the Lenders under this Agreement will be issued in the form of a “depository xxxx” (as defined in the DBNA), deposited with a “clearing house” (as defined in the DBNA), including The Canadian Depository for Securities Ltd. or its nominee CDS & Co. (“CDS”). In order to give effect to the foregoing, the Agent will, subject to the approval of the Borrower and the Lenders, establish and notify the Borrower and the Lenders of any additional procedures, consistent with the terms of this Agreement, as are reasonably necessary to accomplish such intention, including: (i) any instrument held by the Agent for purposes of Bankers' Acceptances will have marked prominently and legibly on its face and within its text, at or before the time of issue, the words “This is a depository xxxx subject to the Depository Bills and Notes Act (Canada)”; (ii) any reference to the authentication of the Bankers' Acceptance will be removed; and (iii) any reference to the “bearer” will be removed and such Bankers' Acceptances will not be marked with any words prohibiting negotiation, transfer or assignment of it or of an interest in it.

Depository Bills. It is the intention of the Parties that pursuant to the Depository Bills and Notes Act (Canada) (“"DBNA”"), all Bankers' Acceptances accepted by the Lenders under this Agreement will be issued in the form of a “"depository xxxx” bxxx" (as defined in the DBNA), deposited with a “"clearing house” " (as defined in the DBNA), including The Canadian Depository for Securities Ltd. or its nominee CDS & Co. (“"CDS”"). In order to give effect to the foregoing, the Agent will, subject to the approval of the Borrower and the Lenders, establish and notify the Borrower and the Lenders of any additional procedures, consistent with the terms of this Agreement, as are reasonably necessary to accomplish such intention, including: (i) any instrument held by the Agent for purposes of Bankers' Acceptances will have marked prominently and legibly on its face and within its text, at or before the time of issue, the words “"This is a depository xxxx bxxx subject to the Depository Bills and Notes Act (Canada)”"; (ii) any reference to the authentication of the Bankers' Acceptance will be removed; and (iii) any reference to the “"bearer” " will be removed and such Bankers' Acceptances will not be marked with any words prohibiting negotiation, transfer or assignment of it or of an interest in it.

Depository Bills. It is the intention of the Parties that pursuant to the Depository Bills and Notes Act (Canada) (“DBNA”), all Bankers' ’ Acceptances accepted by the Lenders under this Agreement will be issued in the form of a “depository xxxx” (as defined in the DBNA), deposited with a “clearing house” (as defined in the DBNA), including The Canadian Depository for Securities Ltd. or its nominee CDS & Co. (“CDS”). In order to give effect to the foregoing, the Agent will, subject to the approval of the Borrower and the Lenders, establish and notify the Borrower and the Lenders of any additional procedures, consistent with the terms of this Agreement, as are reasonably necessary to accomplish such intention, including: (i) any instrument held by the Agent for purposes of Bankers' ’ Acceptances will have marked prominently and legibly on its face and within its text, at or before the time of issue, the words “This is a depository xxxx subject to the Depository Bills and Notes Act (Canada)”; (ii) any reference to the authentication of the Bankers' ’ Acceptance will be removed; and (iii) any reference to the “bearer” will be removed and such Bankers' ’ Acceptances will not be marked with any words prohibiting negotiation, transfer or assignment of it or of an interest in it.

Depository Bills. It is the intention of the Parties that pursuant to the Depository Bills and Notes Act (Canada) (“"DBNA”"), all Bankers' Acceptances accepted by the Lenders under this Agreement will be issued in the form of a “"depository xxxx” bill" (as defined in the DBNA), deposited with a “"clearing house” " (as defined in the DBNA), including The Canadian Depository for Securities Ltd. Limited or its nominee CDS & Co. Clearing and Depository Services Inc. (“"CDS”"). In order to give effect to the foregoing, the Agent will, subject to the approval of the Borrower and the Lenders, Lenders establish and notify the Borrower and the Lenders of any additional procedures, consistent with the terms of this Agreement, as are reasonably necessary to accomplish such intention, including: (i) any instrument held by the Agent for purposes of Bankers' Acceptances will have marked prominently and legibly on its face and within its text, at or before the time of issue, the words “"This is a depository xxxx bill subject to the Depository Bills and Notes Act (Canada)”"; (ii) any reference to the authentication of the Bankers' Acceptance will be removed; and (iii) any reference to the “"bearer” " will be removed and such Bankers' Acceptances will not be marked with any words prohibiting negotiation, transfer or assignment of it or of an interest in it.

Depository Bills. It is the intention of the Parties Borrower and CIBC that pursuant to the Depository Bills and Notes Act (Canada) (“DBNA”), all Bankers' Acceptances bankers’ acceptances accepted by CIBC under the Lenders under this Agreement will Financing Commitment shall be issued in the form of a “depository xxxxbill” (as defined in the DBNA), deposited with a “clearing house” (as defined in the DBNA), including The Canadian Depository for Securities Ltd. or its nominee CDS & Co. (“CDS”). ) and will be made payable to CDS & Co. In order to give effect to the foregoing, the Agent willCIBC shall, subject to the approval of the Borrower and the LendersBorrower, such approval not to be unreasonably withheld, establish and notify the Borrower and the Lenders of any additional procedures, consistent with the terms of this Agreementthe Financing Commitment and the requirements of the DBNA, as are reasonably necessary to accomplish such intention, including, without limitation: (i) any instrument held by CIBC for the Agent for purposes of Bankers' Acceptances will bankers’ acceptances shall have marked prominently prominently, and legibly on its face and within its text, at or before the time of issue, the words “This is a depository xxxx bill subject to the Depository Bills and Notes Act (Canada)”; (ii) any reference to the authentication of the Bankers' Acceptance bankers’ acceptance will be removed; and (iii) any reference to the “bearer” will be removed and such Bankers' Acceptances will bankers’ acceptance shall not be marked with any words prohibiting negotiation, transfer or assignment of it or of an interest in it.