Common use of Escrowed Funds Clause in Contracts

Escrowed Funds. Upon the occurrence of an Event of Default and an acceleration of the Canadian Advances under Section 6.1 or upon a prepayment permitted under Section 2A.8, the Canadian Borrower shall forthwith pay to the Canadian Administrative Agent for deposit into an escrow account maintained by and in the name of Canadian Administrative Agent for the benefit of Canadian Banks in accordance with their Canadian Pro Rata Shares an amount equal to the Canadian Banks’ maximum potential liability (as determined by the Canadian Administrative Agent) under then outstanding Canadian Bankers’ Acceptances for the Canadian Borrower (the “Canadian Escrow Funds”). The Canadian Escrow Funds shall be held by the Canadian Administrative Agent for set-off against future amounts owing by the Canadian Borrower in respect to such Canadian Bankers’ Acceptances and pending such application shall bear interest at the rate declared by the Canadian Administrative Agent from time to time as that payable by it in respect of deposits for such amount and for such period relative to the maturity date of the Canadian Bankers’ Acceptances, as applicable. If such Event of Default is either waived or cured in compliance with the terms of this Agreement, then the Canadian Escrow Funds, together with any accrued interest to the date of release, shall be forthwith released to the Canadian Borrower.

Escrowed Funds. Upon the occurrence of an Event of Default and an acceleration of the Canadian Advances Committed Loans under Section 6.1 10.02 or upon a prepayment permitted under Section 2A.8, 3.06 the Canadian Borrower shall forthwith pay to the Canadian Administrative Agent for deposit into an escrow account maintained by and in the name of Canadian Administrative Agent for the benefit of Canadian Banks Lenders in accordance with their Canadian Pro Rata Shares an amount equal to the Canadian BanksLenders’ maximum potential liability (as determined by the Canadian Administrative Agent) under then outstanding Canadian Bankers’ Acceptances for the Canadian Borrower (the “Canadian Escrow Funds”). The Canadian Escrow Funds shall be held by the Canadian Administrative Agent for set-off against future amounts owing by the Canadian Borrower in respect to such Canadian Bankers’ Acceptances and pending such application shall bear interest at the rate declared by the Canadian Administrative Agent from time to time as that payable by it in respect of deposits for such amount and for such period relative to the maturity date of the Canadian Bankers’ Acceptances, as applicable. If such Event of Default is either waived or cured in compliance with the terms of this Agreement, then the Canadian Escrow Funds, together with any accrued interest to the date of release, shall be forthwith released to the Canadian Borrower.

Escrowed Funds. Upon the occurrence of an Event of Default and an acceleration of the Canadian Advances Committed Loans under Section 6.1 10.02 or upon a prepayment permitted under Section 2A.83.06, the each Canadian Borrower shall forthwith pay to the Canadian Administrative Agent for deposit into an escrow account maintained by and in the name of Canadian Administrative Agent for the benefit of Canadian Banks Lenders in accordance with their Canadian Pro Rata Shares an amount equal to the Canadian Banks’ Lenders' maximum potential liability (as determined by the Canadian Administrative Agent) under then outstanding Canadian Bankers’ ' Acceptances for the such Canadian Borrower (the “"Canadian Escrow Funds”"). The Canadian Escrow Funds shall be held by the Canadian Administrative Agent for set-off against future amounts owing by the such Canadian Borrower in respect to such Canadian Bankers’ ' Acceptances and pending such application shall bear interest at the rate declared by the Canadian Administrative Agent from time to time as that payable by it in respect of deposits for such amount and for such period relative to the maturity date of the Canadian Bankers’ ' Acceptances, as applicable. If such Event of Default is either waived or cured in compliance with the terms of this Agreement, then the Canadian Escrow Funds, together with any accrued interest to the date of release, shall be forthwith released to the applicable Canadian Borrower.

Escrowed Funds. Upon the occurrence of an Event of Default and an acceleration of the Canadian Advances under Section 6.1 or upon a prepayment permitted under Section 2A.8, the Canadian Borrower shall forthwith pay to the Canadian Administrative Agent for deposit into an escrow account maintained by and in the name of Canadian Administrative Agent for the benefit of Canadian Banks in accordance with their Canadian Pro Rata Shares an amount equal to the Canadian Banks’ ' maximum potential liability (as determined by the Canadian Administrative Agent) under then outstanding Canadian Bankers’ ' Acceptances for the Canadian Borrower (the “"Canadian Escrow Funds”"). The Canadian Escrow Funds shall be held by the Canadian Administrative Agent for set-off against future amounts owing by the Canadian Borrower in respect to such Canadian Bankers’ ' Acceptances and pending such application shall bear interest at the rate declared by the Canadian Administrative Agent from time to time as that payable by it in respect of deposits for such amount and for such period relative to the maturity date of the Canadian Bankers’ ' Acceptances, as applicable. If such Event of Default is either waived or cured in compliance with the terms of this Agreement, then the Canadian Escrow Funds, together with any accrued interest to the date of release, shall be forthwith released to the Canadian Borrower.

Escrowed Funds. Upon the occurrence of an Event of Default and an acceleration of the Canadian Advances Committed Loans under Section 6.1 10.02 or upon a prepayment permitted under Section 2A.8, the 3.06 each Canadian Borrower shall forthwith pay to the Canadian Administrative Agent for deposit into an escrow account maintained by and in the name of Canadian Administrative Agent for the benefit of Canadian Banks Lenders in accordance with their Canadian Pro Rata Shares an amount equal to the Canadian BanksLenders’ maximum potential liability (as determined by the Canadian Administrative Agent) under then outstanding Canadian Bankers’ Acceptances for the such Canadian Borrower (the “Canadian Escrow Funds”). The Canadian Escrow Funds shall be held by the Canadian Administrative Agent for set-off against future amounts owing by the such Canadian Borrower in respect to such Canadian Bankers’ Acceptances and pending such application shall bear interest at the rate declared by the Canadian Administrative Agent from time to time as that payable by it in respect of deposits for such amount and for such period relative to the maturity date of the Canadian Bankers’ Acceptances, as applicable. If such Event of Default is either waived or cured in compliance with the terms of this Agreement, then the Canadian Escrow Funds, together with any accrued interest to the date of release, shall be forthwith released to the applicable Canadian Borrower.

Escrowed Funds. Upon the occurrence of an Event of Default and an acceleration of the Canadian Advances Committed Loans under Section 6.1 10.02 or upon a prepayment permitted under Section 2A.83.06, the each Canadian Borrower shall forthwith pay to the Canadian Administrative Agent for deposit into an escrow account maintained by and in the name of Canadian Administrative Agent for the benefit of Canadian Banks Lenders in accordance with their Canadian Pro Rata Shares an amount equal to the Canadian BanksLenders’ maximum potential liability (as determined by the Canadian Administrative Agent) under then outstanding Canadian Bankers’ Acceptances for the such Canadian Borrower (the “Canadian Escrow Funds”). The Canadian Escrow Funds shall be held by the Canadian Administrative Agent for set-off against future amounts owing by the such Canadian Borrower in respect to such Canadian Bankers’ Acceptances and pending such application shall bear interest at the rate declared by the Canadian Administrative Agent from time to time as that payable by it in respect of deposits for such amount and for such period relative to the maturity date of the Canadian Bankers’ Acceptances, as applicable. If such Event of Default is either waived or cured in compliance with the terms of this Agreement, then the Canadian Escrow Funds, together with any accrued interest to the date of release, shall be forthwith released to the applicable Canadian Borrower.