Discount of Acceptances. (a) Each Canadian Lender hereby severally agrees, on the terms and subject to the conditions set forth in this Agreement, to purchase Acceptances created by it on the Borrowing Date with respect thereto at the applicable Reference Discount Rate by making available to the Canadian Borrower an amount in immediately available funds equal to the Acceptance Purchase Price in respect thereof, and to notify the Canadian Administrative Agent that such Draft has been accepted, discounted and purchased by such accepting Canadian Lender.
Discount of Acceptances. The Bank agrees to discount any Acceptance that is created and presented to it for discount at a rate quoted by the Bank at the time the Acceptance is presented to the Bank for discount and for a similar dollar amount and a similar maturity as the Draft being presented to the Bank by the Borrower for acceptance (the "Acceptance Discount Rate"). On the date any such Acceptance is presented for discount, the Bank shall: (i) cause the aggregate discounted amount (less any Commission then payable by the Borrower to the Bank hereunder) to be made available to the Borrower by crediting such amount to the Borrower's demand deposit account maintained with the Bank, unless the Acceptance is created by a beneficiary under a Letter of Credit, in which event the Bank will cause the amount to be paid to such beneficiary and will notify the Borrower as to the creation of the Acceptance; and (ii) advise the Borrower of the Acceptance Discount Rate at which the Bank discounted such Acceptance. The Bank shall have the right, in its sole discretion, to sell, rediscount, hold or otherwise deal with or dispose of any such Acceptance discounted by it.
Discount of Acceptances. (a) Each Lender hereby agrees, on the terms and subject to the conditions set forth in this Agreement, to discount Acceptances created by it on the Borrowing Date with respect thereto at the applicable Reference Discount Rate by making available to the Borrower an amount in immediately available funds equal to the Acceptance Purchase Price in respect thereof, and to notify the Administrative Agent that such Draft has been accepted and discounted by such accepting Lender.
Discount of Acceptances. The Bank agrees, subject to the terms and conditions of this Agreement, that any date on which it creates a Documentary Banker's Acceptance hereunder, it will discount such Documentary Banker's Acceptance at the acceptance rate, as determined by the Bank, plus 11/2% per annum, by making available to the Co-Borrowers an amount in immediately available funds equal to the face amount of such Documentary Acceptance less such discount.
Discount of Acceptances. The Bank agrees to discount any Acceptance that is created and presented to it for discount at a rate quoted by the Bank at the time the Acceptance is presented to the Bank for discount and for a similar dollar amount and a similar maturity as the Draft being presented to the Bank by the Borrowers for acceptance (the "Acceptance Discount Rate"). On the date any such Acceptance is presented for discount, the Bank shall: (i) cause the aggregate discounted amount (less any Commission then payable by the Borrowers to the Bank hereunder) to be made available to the Borrowers by crediting such amount to the Borrowers' demand deposit account maintained with the Bank, and (ii) advise the Borrowers of the Acceptance Discount Rate at which the Bank discounted such Acceptance. The Bank shall have the right, in its sole discretion, to sell, rediscount, hold or otherwise deal with or dispose of any such Acceptance discounted by it.
Discount of Acceptances. (a) The Accepting Bank agrees, on the terms and conditions of this Agreement, that on any date on which it creates an Acceptance hereunder, the Accepting Bank will discount such Acceptance at the Acceptance Rate, by making available to the Borrower an amount in immediately available funds equal to the face amount of each Acceptance created by the Accepting Bank on such date less such discount and notify the Administrative Agent that such Draft has been accepted and discounted by the Accepting Bank. The Accepting Bank will then pay to the Administrative Agent for the account of the Borrower an amount equal to the proceeds of such discount.
Discount of Acceptances. Each of the Banks severally agrees, on the terms and conditions of this Agreement, that on any date on which it creates an Acceptance hereunder, such Bank will discount such Acceptance at the Acceptance Rate, by making available to the Company an amount in immediately available funds equal to the face amount of each Acceptance created by such Bank on such date less such discount and notify the Agent that such Draft has been accepted and discounted by such Bank. Each Bank will then make the discounted amount of such Acceptance available to the Agent for the account of the Company at the office of the Agent specified in subsection 13.2 prior to 2:00 P.M., New York City time, on the Business Day specified in the relevant Request for Acceptances in funds immediately available to the Agent. Such proceeds will then be made available to the Company by the Agent crediting the account of the Company on the books of such office with the aggregate of the amounts made available to the Agent by the Bank and in like funds as received by the Agent.
Discount of Acceptances. (a) The Accepting Bank agrees, on the terms and conditions of this Agreement, that on any date on which it creates an Acceptance hereunder, the Accepting Bank will discount such Acceptance at the Acceptance Rate, by making available to the Borrower an amount in immediately available funds equal to the face amount of each Acceptance created by the Accepting Bank on such date less such discount and notify the Administrative Agent that such Draft has been accepted and discounted by the Accepting Bank. The Accepting Bank will then pay to the Administrative Agent for the account of the Borrower an amount equal to the proceeds of such discounted Draft.
