Common use of Designated Accounts Clause in Contracts

Designated Accounts. The Administrative Agent is authorized to make the Advances and each Issuing Bank is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be a Responsible Officer or, without instructions, if pursuant to Section 2.5(d). The U.S. Borrowers agree to establish and maintain the U.S. Designated Account with the U.S. Designated Account Bank for the purpose of receiving the proceeds of the U.S. Advances requested by the U.S. Borrowers and made by the Administrative Agent or U.S. Revolving Lenders hereunder. Unless otherwise agreed by the Administrative Agent and the U.S. Borrowers, any U.S. Advance or U.S. Swingline Loan requested by the U.S. Borrowers and made by the Administrative Agent or the U.S. Revolving Lenders hereunder shall be made to the U.S. Designated Account. The Canadian Borrowers agree to establish and maintain the Canadian Designated Account with the Canadian Designated Account Bank for the purpose of receiving the proceeds of the Canadian Advances to the Canadian Borrowers requested by the Canadian Borrowers and made by the Administrative Agent or the Canadian Revolving Lenders hereunder. Unless otherwise agreed by the Administrative Agent and the Canadian Borrowers, any Canadian Advance requested by the Canadian Borrowers and made by the Administrative Agent or Canadian Revolving Lenders hereunder shall be made to the Canadian Designated Account.