Common use of Form of Drafts Clause in Contracts

Form of Drafts. Each Draft presented by the Borrower to the Global Agent shall (i) be in a minimum amount of C$1,000,000 and in integral multiples of C$100,000 thereafter, provided that the Global Agent may, in its sole discretion, increase or decrease any Multicurrency Revolving Lender’s portion of such Draft to the nearest C$1,000; (ii) be dated the date of the Drawing; and (iii) have a Contract Maturity Date and be payable by the Borrower (in common with all other Drafts presented in connection with such Drawing) on a Business Day which occurs, at the election of the Borrower, approximately one, two or three months after the Drawing Date (in each case, subject to availability) (or such other date as agreed to by the participating Lenders) and on or prior to the Maturity Date (such date being the “Contract Maturity Date”). The Borrower shall select the Contract Maturity Dates of Drafts so there shall be no more than ten (10) separate Contract Maturity Dates in existence at any time. Each Drawing shall consist of the creation and purchase of Bankers’ Acceptances, or the purchase of BA Equivalent Notes, on the same day, in each case for the Drawing Price, by the Multicurrency Revolving Lenders in accordance with Section 2.05(c) and their respective Multicurrency Revolving Commitment Percentages. If the Global Agent determines that the Bankers’ Acceptances to be created and purchased or the BA Equivalent Notes to be purchased in connection with any Drawing (upon a conversion or otherwise) will not be created and purchased ratably by the Applicable Revolving Lenders in accordance with Sections 2.05(a) and 2.05(c), then the requested Face Amount of Bankers’ Acceptances and BA Equivalent Notes shall be reduced to such lesser amount as the Global Agent determines will permit ratable sharing and the amount by which the requested Face Amount shall have been so reduced shall be converted or continued, as the case may be, as a Canadian Prime Rate Loan to be made contemporaneously with the Drawing. The Borrower will ensure that there is delivered to each applicable BA Lender that is a member of a clearing service, and such BA Lender is hereby authorized to release, the Bankers’ Acceptance accepted by it to such clearing service upon receipt of confirmation that such clearing service holds such Bankers’ Acceptance for the account of such BA Lender.

Form of Drafts. Each Draft presented by the Borrower to the Global Agent shall (i) be in a minimum amount of C$1,000,000 and in integral multiples of C$100,000 thereafter, provided that the Global Agent may, in its sole discretion, increase or decrease any Multicurrency Revolving Lender’s portion of such Draft to the nearest C$1,000; (ii) be dated the date of the Drawing; and (iii) have a Contract Maturity Date and be payable by the Borrower (in common with all other Drafts presented in connection with such Drawing) on a Business Day which occurs, at the election of the Borrower, approximately one, two two, three or three six months after the Drawing Date (in each case, subject to availability) (or such other date as agreed to by the participating Lenders) and on or prior to the Maturity Date (such date being the “Contract Maturity Date”). The Borrower shall select the Contract Maturity Dates of Drafts so there shall be no more than ten (10) separate Contract Maturity Dates in existence at any time. Each Drawing shall consist of the creation and purchase of Bankers’ Acceptances, or the purchase of BA Equivalent Notes, on the same day, in each case for the Drawing Price, by the Multicurrency Revolving Lenders in accordance with Section 2.05(c) and their respective Multicurrency Revolving Commitment Percentages. If the Global Agent determines that the Bankers’ Acceptances to be created and purchased or the BA Equivalent Notes to be purchased in connection with any Drawing (upon a conversion or otherwise) will not be created and purchased ratably by the Applicable Revolving Lenders in accordance with Sections 2.05(a) and 2.05(c), then the requested Face Amount of Bankers’ Acceptances and BA Equivalent Notes shall be reduced to such lesser amount as the Global Agent determines will permit ratable sharing and the amount by which the requested Face Amount shall have been so reduced shall be converted or continued, as the case may be, as a Canadian Prime Rate Loan to be made contemporaneously with the Drawing. The Borrower will ensure that there is delivered to each applicable BA Lender that is a member of a clearing service, and such BA Lender is hereby authorized to release, the Bankers’ Acceptance accepted by it to such clearing service upon receipt of confirmation that such clearing service holds such Bankers’ Acceptance for the account of such BA Lender.