Common use of Making the Canadian Advances Clause in Contracts

Making the Canadian Advances. Subject to Section 2A.2(b), (a) each Canadian Borrowing shall be made on notice, given not later than 11:00 A.M. (x) in the case of a proposed Canadian Borrowing comprised of Canadian Bankers’ Acceptances, at least three Canadian Business Days prior to the date of the proposed Canadian Borrowing, and (y) in the case of a proposed Canadian Borrowing comprised of Canadian Prime Rate Advances, on the day of the proposed Canadian Borrowing, by the Canadian Borrower to the Canadian Administrative Agent, which shall give to each Canadian Bank prompt notice thereof by telecopy. Each such notice of a Canadian Borrowing (a “Canadian Notice of Borrowing”) shall be by telecopy, confirmed immediately in writing, in substantially the form of Exhibit 1-B, duly signed by a Responsible Officer of the Canadian Borrower and specifying therein (1) the requested date of such Canadian Borrowing, (2) whether the Canadian Borrower is requesting a Canadian Prime Rate Advance or a Canadian Borrowing by way of Canadian Bankers’ Acceptances, (3) the aggregate amount of such Canadian Borrowing, and (4) if applicable, the maturity date of Canadian Bankers’ Acceptances to be issued, rolled over or advanced (which shall be a Canadian Business Day), provided that the Canadian Borrower may not specify Canadian Bankers’ Acceptances for any Canadian Borrowing if, after giving effect to such Canadian Borrowing, Canadian Bankers’ Acceptances having more than five different maturity dates shall be outstanding without the consent of Canadian Majority Banks. If the Canadian Borrower requests a Canadian Borrowing of, conversion to, or rollover of Canadian Bankers’ Acceptances in any such Canadian Notice of Borrowing, but fails to specify a maturity date therefor, it will be deemed to have specified Canadian Bankers’ Acceptances with a 30-day term. Each Canadian Bank shall, before 11:00 A.M. (1:00 P.M. in the case of a Canadian Borrowing comprised of Canadian Prime Rate Advances) on the date of such Canadian Borrowing, (i) make available for the account of its Canadian Lending Office to the Canadian Administrative Agent at its Canadian Payment Office, in same day funds, such Canadian Bank’s ratable portion of such Canadian Borrowing or (ii) accept drafts of Canadian Bankers’ Acceptances. After the Canadian Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article IIIA, the Canadian Administrative Agent will make such funds available to the Canadian Borrower at the Canadian Administrative Agent’s aforesaid address.

Making the Canadian Advances. Subject to Section 2A.2(b), (a) each Each Canadian Borrowing shall be made on notice, given not later than 11:00 A.M. (x) in the case of a proposed Canadian Borrowing comprised of Canadian Bankers’ ' Acceptances, at least three Canadian Business Days prior to the date of the proposed Canadian Borrowing, and (y) in the case of a proposed Canadian Borrowing comprised of Canadian Prime Rate Advances, on the day of the proposed Canadian Borrowing, by the Canadian Borrower to the Canadian Administrative Agent, which shall give to each Canadian Bank prompt notice thereof by telecopy. Each such notice of a Canadian Borrowing (a “"Canadian Notice of Borrowing”") shall be by telecopy, confirmed immediately in writing, in substantially the form of Exhibit 1-B, duly signed by a Responsible Officer of the Canadian Borrower and specifying therein (1) the requested date of such Canadian Borrowing, (2) whether the Canadian Borrower is requesting a Canadian Prime Rate Advance or a Canadian Borrowing by way of Canadian Bankers’ ' Acceptances, (3) the aggregate amount of such Canadian Borrowing, and (4) if applicable, the maturity date of Canadian Bankers’ ' Acceptances to be issued, issued or rolled over or advanced (which shall be a Canadian Business Day), provided that the Canadian Borrower may not specify Canadian Bankers’ ' Acceptances for any Canadian Borrowing if, after giving effect to such Canadian Borrowing, Canadian Bankers’ ' Acceptances having more than five different maturity dates shall be outstanding without the consent of Canadian Majority Banks. If the Canadian Borrower requests a Canadian Borrowing of, conversion to, or rollover of Canadian Bankers’ ' Acceptances in any such Canadian Notice of Borrowing, but fails to specify a maturity date therefor, it will be deemed to have specified Canadian Bankers’ ' Acceptances with a 30-day term. Each Canadian Bank shall, before 11:00 A.M. (1:00 P.M. in the case of a Canadian Borrowing comprised of Canadian Prime Rate Advances) on the date of such Canadian Borrowing, (i) make available for the account of its Canadian Lending Office to the Canadian Administrative Agent at its Canadian Payment Office, in same day funds, such Canadian Bank’s 's ratable portion of such Canadian Borrowing or (ii) accept drafts of Canadian Bankers’ ' Acceptances. After the Canadian Administrative Agent’s 's receipt of such funds and upon fulfillment of the applicable conditions set forth in Article IIIA, the Canadian Administrative Agent will make such funds available to the Canadian Borrower at the Canadian Administrative Agent’s 's aforesaid address. (b) Each Canadian Notice of Borrowing shall be irrevocable and binding on the Canadian Borrower. (c) Unless the Canadian Administrative Agent shall have received notice from a Canadian Bank prior to the date of any Canadian Borrowing that such Canadian Bank will not make available to the Canadian Administrative Agent such Canadian Bank's ratable portion of such Canadian Borrowing, the Canadian Administrative Agent may assume that such Canadian Bank has made such portion available to the Canadian Administrative Agent on the date of such Canadian Borrowing in accordance with subsection (a) of this Section 2A.2 and the Canadian Administrative Agent may, in reliance upon such assumption, make available to the Canadian Borrower on such date a corresponding amount. If and to the extent that such Canadian Bank shall not have so made such ratable portion available to the Canadian Administrative Agent, such Canadian Bank and the Canadian Borrower severally agree to repay to the Canadian Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Canadian Borrower until the date such amount is repaid to the Canadian Administrative Agent, at (1) in the case of the Canadian Borrower, the interest rate applicable at the time to Canadian Advances comprising such Canadian Borrowing and (2) in the case of such Canadian Bank, the Canadian Prime Rate. If such Canadian Bank shall repay to the Canadian Administrative Agent such corresponding amount, such amount so repaid shall constitute such Canadian Bank's Canadian Advance as part of such Canadian Borrowing for purposes of this Agreement. (d) The failure of any Canadian Bank to make the Canadian Advance to be made by it as part of any Canadian Borrowing shall not relieve any other Canadian Bank of its obligation, if any, hereunder to make its Canadian Advance on the date of such Canadian Borrowing, but no Canadian Bank shall be responsible for the failure of any other Canadian Bank to make the Canadian Advance to be made by such other Canadian Bank on the date of any Canadian Borrowing. (e) The Canadian Administrative Agent shall promptly notify the Canadian Borrower and the Canadian Banks of the Canadian BA Discount Rate applicable to any Canadian Bankers' Acceptances upon determination thereof. The determination of the Canadian BA Discount Rate by the Canadian Administrative Agent shall be conclusive in the absence of manifest error.

Making the Canadian Advances. Subject to Section 2A.2(b), (a) each Canadian Borrowing shall be made on noticenotice , given not later than 11:00 A.M. (x) in the case of a proposed Canadian Borrowing comprised of Canadian Bankers’ Acceptances, at least three Canadian Business Days prior to the date of the proposed Canadian Borrowing, and (y) in the case of a proposed Canadian Borrowing comprised of Canadian Prime Rate Advances, on the day of the proposed Canadian Borrowing, by the Canadian Borrower to the Canadian Administrative Agent, which shall give to each Canadian Bank prompt notice thereof by telecopy. Each such notice of a Canadian Borrowing (a “Canadian Notice of Borrowing”) shall be by telecopy, confirmed immediately in writing, in substantially the form of Exhibit 1-B, duly signed by a Responsible Officer of the Canadian Borrower and specifying therein (1) the requested date of such Canadian Borrowing, (2) whether the Canadian Borrower is requesting a Canadian Prime Rate Advance or a Canadian Borrowing by way of Canadian Bankers’ Acceptances, (3) the aggregate amount of such Canadian Borrowing, and (4) if applicable, the maturity date of Canadian Bankers’ Acceptances to be issued, rolled over or advanced (which shall be a Canadian Business Day), provided that the Canadian Borrower may not specify Canadian Bankers’ Acceptances for any Canadian Borrowing if, after giving effect to such Canadian Borrowing, Canadian Bankers’ Acceptances having more than five different maturity dates shall be outstanding without the consent of Canadian Majority Banks. If the Canadian Borrower requests a Canadian Borrowing of, conversion Conversion to, or rollover of Canadian Bankers’ Acceptances in any such Canadian Notice of Borrowing, but fails to specify a maturity date therefor, it will be deemed to have specified Canadian Bankers’ Acceptances with a 30-day term. Each Canadian Bank shall, before 11:00 A.M. 12:00 Noon (1:00 2:00 P.M. in the case of a Canadian Borrowing comprised of Canadian Prime Rate Advances) on the date of such Canadian Borrowing, (i) make available for the account of its Canadian Lending Office to the Canadian Administrative Agent at its Canadian Payment Office, in same day funds, such Canadian Bank’s ratable portion of such Canadian Borrowing or (ii) accept drafts of Canadian Bankers’ Acceptances. After the Canadian Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article IIIA, the Canadian Administrative Agent will make such funds available to the Canadian Borrower at the Canadian Administrative Agent’s aforesaid address.