Market for Bankers’ Acceptances Sample Clauses

Market for Bankers’ Acceptances. In the event that at any time subsequent to the giving of a Notice of Borrowing or Notice of Conversion/Rollover to Administrative Agent by Company with regard to any requested Bankers’ Acceptances, but before the date of the borrowing, Rollover or Conversion, as the case may be, the Administrative Agent makes a determination, which shall be conclusive and binding upon Company, absent manifest error, that there no longer exists an active market for Bankers’ Acceptances then:
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Market for Bankers’ Acceptances. If at any time or from time to time there no longer exists a market for Bankers’ Acceptances, the relevant Canadian Revolving Lenders shall so advise the Administrative Agent and any such Canadian Revolving Lenders shall not be obliged to accept drafts of the Canadian Borrower or the U.S. Borrower presented to such Lenders pursuant to the provisions of this Agreement. In such event, the Canadian Borrower’s or the U.S. Borrower’s option to request BA Loans shall thereupon be suspended upon notice by the Administrative Agent to the Canadian Borrower or the U.S. Borrower, until such time as the Administrative Agent has determined that the circumstances having given rise to such suspension no longer exist, in respect of which determination the Administrative Agent shall advise the Canadian Borrower or the U.S. Borrower within a reasonable period of time after making such determination.
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Market for Bankers’ Acceptances. If at any time or from time to time there no longer exists a market for Bankers' Acceptances, the relevant Canadian Revolving Lenders shall so advise the Canadian Administrative Agent and the Administrative Agent and any such Canadian Revolving Lenders shall not be obliged to accept drafts of the Canadian Borrower presented to such Canadian Revolving Lenders pursuant to the provisions of this Agreement. In such event, the Canadian Borrower's option to request BA Loans shall thereupon be suspended upon notice by the Canadian Administrative Agent to the Canadian Borrower, until such time as the Canadian Administrative Agent has determined that the circumstances having given rise to such suspension no longer exist, in respect of which determination the Canadian Administrative Agent shall advise the Canadian Borrower within a reasonable period of time after making such determination.
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Market for Bankers’ Acceptances. If at any time or from time to time there no longer exists a market for Bankers’ Acceptances, the relevant Canadian Lenders shall so advise the Canadian Agent and the Administrative Agent and any such Canadian Lenders shall not be obliged to accept drafts of the Canadian Borrower presented to such Canadian Lenders pursuant to the provisions of this Agreement. In such event, the Canadian Borrower’s option to request BA Loans or BA Equivalent Loans shall thereupon be suspended upon notice by the Canadian Agent to the Canadian Borrower, until such time as the Canadian Agent has determined that the circumstances having given rise to such suspension no longer exist, in respect of which determination the Canadian Agent shall advise the Canadian Borrower as soon as reasonably practicable thereafter, and any Borrowing Notice for a BA Loan or BA Equivalent Loan which is then outstanding shall be deemed to be a Borrowing Notice for a Canadian Prime Rate Loan unless it has been revoked by the Canadian Borrower before the specified Borrowing Date.
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Related to Market for Bankers’ Acceptances

  • Bankers’ Acceptances (a) Subject to the terms and conditions of this Agreement, the Canadian Borrowers may request Borrowings of Canadian Revolving Credit Loans by presenting drafts for acceptance and purchase as B/As by the Canadian Lenders.

  • Circumstances Making Bankers’ Acceptances Unavailable If the Canadian Sub-Agent in good faith determines that for any reason a market for Bankers’ Acceptances does not exist at any time or the Tranche B Lenders cannot for other reasons, after reasonable efforts, readily sell Bankers’ Acceptances or perform their other obligations under this Agreement with respect to Bankers’ Acceptances, the Canadian Sub-Agent will promptly so notify TCCI and each Tranche B Lender. Thereafter, TCCI’s right to request the acceptance and/or purchase of Drafts shall be and remain suspended until the Canadian Sub-Agent determines and notifies TCCI and each Tranche B Lender that the condition causing such determination no longer exists.

  • Money Market Loans (a) In addition to making Syndicated Borrowings, the Borrower may, as set forth in this Section 2.03, request the Banks to make offers to make Money Market Borrowings available to the Borrower. The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.03, provided that:

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • LIBOR Loans Subject to the provisions hereof and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.2, requested the Lenders to continue to extend credit by way of a LIBOR Loan to replace all or a portion of an outstanding LIBOR Loan as it matures, each Lender shall, on the maturity of such LIBOR Loan, continue to extend credit to the Borrower by way of a LIBOR Loan (without a further advance of funds to the Borrower) in the principal amount equal to such Lender’s Pro Rata Share of the principal amount of the matured LIBOR Loan or the portion thereof to be replaced.

  • Money Market Borrowings (a) In addition to Committed Borrowings pursuant to Section 2.01, the Borrower may, as set forth in this Section, request the Banks during the Revolving Credit Period to make offers to make Money Market Loans to the Borrower. The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section.

  • Prime Rate Loans During such periods as the Term Loan shall be comprised of Prime Rate Loans, each such Prime Rate Loan shall bear interest at a per annum rate equal to the Prime Rate; and

  • Procedure for Borrowing Revolving Loans Each Borrowing shall be made by a written request by an Authorized Person delivered to Agent and received by Agent no later than 10:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, and (ii) on the Business Day that is 1 Business Day prior to the requested Funding Date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided, that Agent may, in its sole discretion, elect to accept as timely requests that are received later than 10:00 a.m. on the applicable Business Day. At Agent’s election, in lieu of delivering the above-described written request, any Authorized Person may give Agent telephonic notice of such request by the required time. In such circumstances, Borrowers agree that any such telephonic notice will be confirmed in writing within 24 hours of the giving of such telephonic notice, but the failure to provide such written confirmation shall not affect the validity of the request.

  • Bid Rate Loans The Borrower shall repay the entire outstanding principal amount of, and all accrued but unpaid interest on, each Bid Rate Loan on the last day of the Interest Period of such Bid Rate Loan.

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