Common use of Funding of Bankers’ Acceptances Clause in Contracts

Funding of Bankers’ Acceptances. Subject to subsections (ii) and (iii) below, each Canadian Lender shall, not later than 1:00 p.m., Toronto, Ontario time, on the date of creation of Bankers' Acceptances, accept orders of the Canadian Borrowers which are presented to it for acceptance in an amount equal to each Canadian Lender's Canadian Revolving Loan Commitment Percentage of the aggregate Face Amounts of Bankers' Acceptances created on such date; provided, however, that if the Face Amount of a Banker's Acceptance, which would otherwise be accepted by a Canadian Lender, would not be C$100,000 or a larger multiple thereof, such Face Amount shall be increased or reduced by the Canadian Agent in its discretion to the nearest multiple of C$100,000. Subject to the provisions hereof, the Canadian Agent shall be responsible for making all necessary arrangements with each of the Canadian Lenders with respect to the acceptance of Bankers' Acceptances.

Funding of Bankers’ Acceptances. Subject to subsections (ii) and (iii) below, each Canadian Lender shall, not later than 1:00 p.m.P.M., Toronto, Ontario time, on the date of creation of the Bankers' Acceptances, accept orders of the Canadian Borrowers Borrower which are presented to it for acceptance in an amount equal to each Canadian Lender's Canadian Revolving Loan Commitment Percentage of the aggregate Face Amounts of Bankers' Acceptances created on such date; provided, however, that if the Face Amount of a Banker's Acceptance, which would otherwise be accepted by a Canadian Lender, would not be C$100,000 or a larger multiple thereof, such Face Amount shall be increased or reduced by the Canadian Administrative Agent in its discretion to the nearest multiple of C$100,000. Subject to the provisions hereof, the Canadian Administrative Agent shall be responsible for making all necessary arrangements with each of the Canadian Lenders with respect to the acceptance of Bankers' Acceptances.

Funding of Bankers’ Acceptances. Subject to subsections (ii) and (iii) below, each Canadian Lender shall, not later than 1:00 2:00 p.m., Toronto, Ontario time, on the date of creation of Bankers' Acceptances, accept orders of the Canadian Borrowers which are presented to it for acceptance in an amount equal to each Canadian Lender's Canadian Revolving Loan Commitment Percentage of the aggregate Face Amounts of Bankers' Acceptances created on such date; provided, however, that if the Face Amount of a Banker's Acceptance, which would otherwise be accepted by a Canadian Lender, would not be C$100,000 or a larger multiple thereof, such Face Amount shall be increased or reduced by the Canadian Agent in its discretion to the nearest multiple of C$100,000. Subject to the provisions hereof, the Canadian Agent shall be responsible for making all necessary arrangements with each of the Canadian Lenders with respect to the acceptance of Bankers' Acceptances.

Funding of Bankers’ Acceptances. Subject to subsections (ii) and (iii) below, each Canadian Lender shall, not later than 1:00 p.m., p.m. (Toronto, Ontario time), on the date of creation of Bankers' Acceptances, accept orders of the Canadian Borrowers Borrower which are presented to it for acceptance in an amount equal to each Canadian Lender's Canadian Revolving Loan Commitment Percentage of the aggregate Face Amounts of Bankers' Acceptances created on such date; provided, however, that if the Face Amount of a Banker's Acceptance, which would otherwise be accepted by a Canadian Lender, would not be C$100,000 or a larger multiple thereof, such Face Amount shall be increased or reduced by the Canadian Administrative Agent in its discretion to the nearest multiple of C$100,000. Subject to the provisions hereof, the Canadian Administrative Agent shall be responsible for making all necessary arrangements with each of the Canadian Lenders with respect to the acceptance of Bankers' Acceptances.