Common use of Excess Accommodation Clause in Contracts

Excess Accommodation. In addition to the other repayment rights, obligations or options set forth in this Article, if the aggregate Canadian Dollar Amount of all Accommodations outstanding under the Credit Facility at any time exceeds the Committed Amount, the Borrower shall immediately upon request of the Agent: (a) to the extent any of the Accommodations are Prime Rate Loans, U.S. Base Rate Loans, repay such excess; and (b) in the case of Banker’s Acceptances or LIBOR Loans, pay to the Agent for the account of the Lenders an amount in Canadian Dollars or U.S. Dollars, as applicable, equivalent to the amount by which the Committed Amount is exceeded. Funds paid under clause (b) shall be invested from time to time in such form of investment at the Branch designated by the Borrower and approved by the Agent, for terms corresponding to the applicable term of the Banker’s Acceptance or the LIBOR Interest Period, as the case may be, and shall bear interest at the rate payable by the Agent on deposits of similar currency, amount and maturity.

Excess Accommodation. In addition to the other repayment rights, obligations or options set forth in this Article, if the aggregate Canadian Dollar Amount of all Accommodations outstanding under the Credit Facility at any time exceeds the Committed Amount, the Borrower shall immediately upon request of the Agent: (a) to the extent any of the Accommodations are Prime Rate Loans, U.S. Base Rate Loans, repay such excess; and (b) in the case of Banker’s 's Acceptances or LIBOR Loans, pay to the Agent for the account of the Lenders an amount in Canadian Dollars or U.S. Dollars, as applicable, equivalent to the amount by which the Committed Amount is exceeded. LEGAL_1:22094689.5 Funds paid under clause (b) shall be invested from time to time in such form of investment at the Branch designated by the Borrower and approved by the Agent, for terms corresponding to the applicable term of the Banker’s 's Acceptance or the LIBOR Interest Period, as the case may be, and shall bear interest at the rate payable by the Agent on deposits of similar currency, amount and maturity.