Common use of Execution of Drafts Clause in Contracts

Execution of Drafts. By 10:00 a.m. (Toronto time) on the applicable Drawdown Date, Conversion Date or Rollover Date, the Principal Borrower shall (i) either deliver to each Applicable Lender, or, if previously delivered, be deemed to have authorized each Applicable Lender to complete and accept, or (ii) where the power of attorney in Section 5.2(a) is in force with respect to an Applicable Lender, be deemed to have authorized each such Lender to sign on behalf of the Principal Borrower, complete and accept, drafts drawn by the Principal Borrower on such Lender in a principal amount at maturity equal to such Lender’s share of the Bankers’ Acceptances specified by the Principal Borrower in the relevant Drawdown Notice or Conversion/Rollover/Repayment, as the case may be, as notified to the Lenders by the Agent.

Execution of Drafts. By 10:00 a.m. (Toronto time) on the applicable Drawdown Date, Conversion Date or Rollover Date, the Principal Borrower shall (i) either deliver to each Applicable Lender, or, if previously delivered, be deemed to have authorized each Applicable Lender to complete and accept, or (ii) where the power of attorney in Section 5.2(a) is in force with respect to an Applicable Lender, be deemed to have authorized each such Lender to sign on behalf of the Principal BorrowerXxxxxxxx, complete and accept, drafts drawn by the Principal Borrower on such Lender in a principal amount at maturity equal to such LenderXxxxxx’s share of the Bankers’ Acceptances specified by the Principal Borrower in the relevant Drawdown Notice or Conversion/Rollover/Repayment, as the case may be, as notified to the Lenders by the Agent.

Execution of Drafts. By 10:00 a.m. (Toronto time) on the applicable Drawdown Date, Conversion Date or Rollover Date, the Principal Borrower shall (i) either deliver to each Applicable applicable Lender, or, if previously delivered, be deemed to have authorized each Applicable applicable Lender to complete and accept, or (ii) where the power of attorney in Section 5.2(a) is in force with respect to an Applicable a Lender, be deemed to have authorized each such Lender to sign on behalf of the Principal Borrower, complete and accept, drafts drawn by the Principal Borrower on such Lender in a principal amount at maturity equal to such Lender’s share of the Bankers’ Acceptances specified by the Principal Borrower in the relevant Drawdown Notice or Conversion/Rollover/Repayment, as the case may be, as notified to the applicable Lenders by the Agent.