Common use of Execution of Bankers’ Acceptances Clause in Contracts

Execution of Bankers’ Acceptances. Drafts of any Canadian Revolving Loan Borrower to be accepted as Bankers’ Acceptances hereunder shall be duly executed on behalf of such Canadian Revolving Loan Borrower and upon the request of any Canadian Lender, each Canadian Revolving Loan Borrower shall provide to such Canadian Lender a power of attorney to complete, sign, endorse and issue Bankers’ Acceptances on behalf of such Canadian Revolving Loan Borrower in form and substance satisfactory to such Canadian Lender. Notwithstanding that any one or more of the individuals whose manual or facsimile signature appears on any Draft or Bankers’ Acceptance as a signatory on behalf of any Canadian Revolving Loan Borrower may no longer hold office at the date of such Draft or Bankers’ Acceptance or at the date of its acceptance by any Canadian Lender hereunder, or at any time thereafter, any Bankers’ Acceptance signed as aforesaid on behalf of such Canadian Revolving Loan Borrower shall be valid and binding upon such Canadian Revolving Loan Borrower. Alternatively, at the request of any Canadian Lender, each Canadian Revolving Loan Borrower shall deliver to such Canadian Lender a “depository note” or “depository xxxx” which complies with the requirements of the Depository Bills and Notes Act (Canada), and hereby consents to the deposit of any Bankers’ Acceptance in the form of a depository note or depository xxxx in the book-based debt clearance system maintained by the Canadian Depository of Securities Limited or other recognized clearing house. In such circumstances, the delivery of Bankers’ Acceptances shall be governed by the clearance procedures established thereunder.

Execution of Bankers’ Acceptances. Drafts Bills of any exchange or depository bills of the Canadian Revolving Loan Borrower Borrowers to be accepted as Bankers’ Acceptances hereunder shall be duly executed by one or more duly authorized officers on behalf of the Canadian Borrowers. Notwithstanding that any person whose signature appears on any Bankers’ Acceptance as a signatory for the Canadian Borrowers may no longer be an authorized signatory for the Canadian Borrowers at the date of issuance of a Bankers’ Acceptance, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance and any such Bankers’ Acceptance so signed shall be binding on the Canadian Revolving Loan Borrower and upon the request of any Borrowers. As a condition precedent to each Canadian Lender’s obligation to accept and, if applicable, purchase Bankers’ Acceptances hereunder, each of the Canadian Revolving Loan Borrower shall provide Borrowers hereby agrees to such the Power of Attorney Terms – Bankers’ Acceptances set out in Schedule 2.19 and hereby grants to each Canadian Lender a power of attorney on the terms set out in such Schedule 2.19; provided, that, if any Canadian Borrower revoke such power of attorney, the Canadian Lender shall not be entitled to complete, sign, endorse and issue Bankers’ Acceptances on behalf of such hereunder unless the Canadian Revolving Loan Borrower in form Borrowers, the Canadian Agent and substance satisfactory to such Canadian Lender. Notwithstanding that any one or more all of the individuals whose manual or facsimile signature appears Canadian Lenders have agreed on any Draft or amendments to this Agreement which would allow the Canadian Borrowers to again issue Bankers’ Acceptance Acceptances. Any executed drafts or orders to be used as a signatory on behalf of any Canadian Revolving Loan Borrower may no longer hold office at the date of such Draft or Bankers’ Acceptance or at the date of its acceptance by any Canadian Lender hereunder, or at any time thereafter, any Bankers’ Acceptance signed as aforesaid on behalf of such Canadian Revolving Loan Borrower shall be valid and binding upon such Canadian Revolving Loan Borrower. Alternatively, at the request of any Canadian Lender, each Canadian Revolving Loan Borrower shall deliver to such Canadian Lender a “depository note” or “depository xxxx” which complies with the requirements of the Depository Bills and Notes Act (Canada), and hereby consents to the deposit of any Bankers’ Acceptance in the form of a depository note or depository xxxx in the book-based debt clearance system maintained by the Canadian Depository of Securities Limited or other recognized clearing house. In such circumstances, the delivery of Bankers’ Acceptances shall be governed by held in safekeeping with the clearance procedures established thereundersame degree of care as if they were a Canadian Lender’s property.

Execution of Bankers’ Acceptances. Drafts Bills of any exchange or depository bills of the Canadian Revolving Loan Borrower Borrowers to be accepted as Bankers’ Acceptances hereunder shall be duly executed by one or more duly authorized officers on behalf of such the Canadian Revolving Loan Borrower and upon the request of any Canadian Lender, each Canadian Revolving Loan Borrower shall provide to such Canadian Lender a power of attorney to complete, sign, endorse and issue Bankers’ Acceptances on behalf of such Canadian Revolving Loan Borrower in form and substance satisfactory to such Canadian LenderBorrowers. Notwithstanding that any one or more of the individuals person whose manual or facsimile signature appears on any Draft or Bankers’ Acceptance as a signatory on behalf of any for the Canadian Revolving Loan Borrower Borrowers may no longer hold office be an authorized signatory for the Canadian Borrowers at the date of issuance of a Bankers’ Acceptance, such Draft or signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance and any such Bankers’ Acceptance or at so signed shall be binding on the date of its acceptance by any Canadian Lender Borrowers. As a condition precedent to each Canadian Bank’s obligation to accept and, if applicable, purchase Bankers’ Acceptances hereunder, or at any time thereafter, any each of the Canadian Borrowers hereby agrees to the Power of Attorney Terms — Bankers’ Acceptance signed as aforesaid on behalf of such Canadian Revolving Loan Borrower shall be valid Acceptances set out in Annex A hereto and binding upon such Canadian Revolving Loan Borrower. Alternatively, at the request of any Canadian Lender, hereby grants to each Canadian Revolving Loan Borrower shall deliver to Bank a power of attorney on the terms set out in such Canadian Lender a “depository note” or “depository xxxx” which complies with the requirements Annex A; provided that if either of the Depository Bills and Notes Act (Canada)Canadian Borrowers revoke such power of attorney, and hereby consents the Canadian Banks shall not be entitled to the deposit of any issue Bankers’ Acceptance in the form of a depository note or depository xxxx in the book-based debt clearance system maintained by Acceptances hereunder unless the Canadian Depository of Securities Limited or other recognized clearing house. In such circumstancesBorrowers, the delivery Canadian Agent and all of the Canadian Banks have agreed on amendments to this Agreement which would allow the Canadian Borrowers to again issue Bankers’ Acceptances. Any executed drafts or orders to be used as Bankers’ Acceptances shall be governed by held in safekeeping with the clearance procedures established thereundersame degree of care as if they were a Canadian Bank’s property.

Execution of Bankers’ Acceptances. Drafts of any Canadian Revolving Loan Borrower to be accepted as Bankers’ ' Acceptances hereunder shall be duly executed on behalf of such Canadian Revolving Loan Borrower and upon the request of any Canadian Lender, each Canadian Revolving Loan Borrower shall provide to such Canadian Lender a power of attorney to complete, sign, endorse and issue Bankers’ ' Acceptances on behalf of such Canadian Revolving Loan Borrower in form and substance satisfactory to such Canadian Lender. Notwithstanding that any one or more of the individuals whose manual or facsimile signature appears on any Draft or Bankers’ Acceptance bill as a signatory on behalf of any Canadian Revolving Loan Borrower may no longer hold hxxx office at the date of such Draft or Bankers’ Acceptance bill or at the date of its acceptance by any Canadian Lender hereunder, or xx at any time thereafter, any Bankers’ ' Acceptance signed as aforesaid on behalf of such Canadian Revolving Loan Borrower shall be valid and binding upon such Canadian Revolving Loan Borrower. Alternatively, at the request of any Canadian Lender, each Canadian Revolving Loan Borrower shall deliver to such Canadian Lender a “"depository note” or “depository xxxx” " which complies with the requirements of the Depository Bills and Notes Act (Canada), and hereby consents to the deposit of any Bankers’ ' Acceptance in the form of a depository note or depository xxxx in the book-based debt clearance system maintained by the Canadian Depository of Securities Limited or other recognized clearing house. In such circumstances, the delivery of Bankers’ ' Acceptances shall be governed by the clearance procedures established thereunder.

Execution of Bankers’ Acceptances. Drafts of any Canadian Revolving Loan Borrower to be accepted as Bankers’ ' Acceptances hereunder shall be duly executed on behalf of such Canadian Revolving Loan Borrower and upon the request of any Canadian Lender, each Canadian Revolving Loan Borrower shall provide to such Canadian Lender a power of attorney to complete, sign, endorse and issue Bankers’ ' Acceptances on behalf of such Canadian Revolving Loan Borrower in form and substance satisfactory to such Canadian Lender. Notwithstanding that any one or more of the individuals whose manual or facsimile signature appears on any Draft or Bankers’ Acceptance xxxx as a signatory on behalf of any Canadian Revolving Loan Borrower may no longer hold office at the date of such Draft or Bankers’ Acceptance xxxx or at the date of its acceptance by any Canadian Lender hereunder, or at any time thereafter, any Bankers’ ' Acceptance signed as aforesaid on behalf of such Canadian Revolving Loan Borrower shall be valid and binding upon such Canadian Revolving Loan Borrower. Alternatively, at the request of any Canadian Lender, each Canadian Revolving Loan Borrower shall deliver to such Canadian Lender a “"depository note” or “depository xxxx” " which complies with the requirements of the Depository Bills and Notes Act (Canada), and hereby consents to the deposit of any Bankers’ ' Acceptance in the form of a depository note or depository xxxx in the book-based debt clearance system maintained by the Canadian Depository of Securities Limited or other recognized clearing house. In such circumstances, the delivery of Bankers’ ' Acceptances shall be governed by the clearance procedures established thereunder.