Common use of Depository Bills Clause in Contracts

Depository Bills. All Bankers’ Acceptances accepted by the Canadian Bank issued in the form of a depository xxxx (as defined in the Depository Bills and Notes Act (Canada) (“DBNA”)) shall be deposited with the Canadian Depository for Securities and shall be made payable to CDS & Co. In order to give effect to the foregoing, the Canadian Agent may, acting reasonably, establish and notify the Canadian Borrowers and the other Canadian Banks of any additional procedures, consistent with the terms of this Agreement and the requirements, of the DBNA, as are reasonably necessary to accomplish the parties intention, including, without limitation: (i) inserting a phrase in the drafts held by the Canadian Agent to the effect that the Bankers’ Acceptance is issued pursuant to the DBNA; (ii) removing any reference to authentication of a Bankers’ Acceptance; and (iii) removing any reference to the bearer of the depository xxxx.

Depository Bills. All Bankers’ Acceptances accepted by the any Canadian Bank Lender issued in the form of a depository xxxx bill (as defined in the Depository Bills and Notes Act (Canada) (“DBNA”)) shall be deposited with the Canadian Depository for Securities and shall be made payable to CDS & Co. In order to give effect to the foregoing, the Canadian Agent may, acting reasonably, establish and notify the Canadian Borrowers and the other Canadian Banks Lender of any additional procedures, consistent with the terms of this Agreement and the requirements, of the DBNA, as are reasonably necessary to accomplish the parties intention, including, without limitation: (iA) inserting a phrase in the drafts held by the Canadian Agent to the effect that the Bankers’ Acceptance is issued pursuant to the DBNA; (iiB) removing any reference to authentication of a Bankers’ Acceptance; and (iiiC) removing any reference to the bearer of the depository xxxxbill.

Depository Bills. All Bankers’ Acceptances accepted by the any Canadian Bank Lender issued in the form of a depository xxxx (as defined in the Depository Bills and Notes Act (Canada) (“DBNA”)) shall be deposited with the Canadian Depository for Securities and shall be made payable to CDS & Co. In order to give effect to the foregoing, the Canadian Agent may, acting reasonably, establish and notify the Canadian Borrowers and the other Canadian Banks Lender of any additional procedures, consistent with the terms of this Agreement and the requirements, of the DBNA, as are reasonably necessary to accomplish the parties intention, including, without limitation: (iA) inserting a phrase in the drafts held by the Canadian Agent to the effect that the Bankers’ Acceptance is issued pursuant to the DBNA; (iiB) removing any reference to authentication of a Bankers’ Acceptance; and (iiiC) removing any reference to the bearer of the depository xxxx.

Depository Bills. All Bankers’ ' Acceptances accepted by the Canadian Bank issued in the form of a depository xxxx (as defined in the Depository Bills and Notes Act (Canada) (“"DBNA”")) shall be deposited with the Canadian Depository for Securities and shall be made payable to CDS & Co. In order to give effect to the foregoing, the Canadian Agent may, acting reasonably, establish and notify the Canadian Borrowers and the other Canadian Banks of any additional procedures, consistent with the terms of this Agreement and the requirements, of the DBNA, as are reasonably necessary to accomplish the parties intention, including, without limitation: (i) inserting a phrase in the drafts held by the Canadian Agent to the effect that the Bankers’ ' Acceptance is issued pursuant to the DBNA; (ii) removing any reference to authentication of a Bankers’ ' Acceptance; and (iii) removing any reference to the bearer of the depository xxxx.