Common use of Mechanics of Issuance Clause in Contracts

Mechanics of Issuance. (a) Upon receipt by the Agent of a Drawdown Notice or Conversion/Rollover/ Repayment Notice from the Borrower requesting the issuance of Bankers’ Acceptances, the Agent shall promptly notify the Lenders thereof and advise each Lender of the aggregate ... (b) On each Drawdown Date, Rollover Date or Conversion Date involving the issuance of Bankers’ Acceptances: (i) on or about 10:00 a.m. (Toronto time) on such date, the Agent shall determine the CDOR Rate and shall obtain quotations from each BA Reference Lender of the Discount Rate then applicable to bankers’ acceptances accepted by such BA Reference Lender... (ii) on or about 10:00 a.m. (Toronto time) on such date, the Agent shall determine the BA Discount Rate applicable to each Lender and shall advise each Lender of the BA Discount Rate applicable to it; (iii) each Lender shall complete and accept, in accordance with the Drawdown Notice or Conversion/Rollover/Repayment Notice delivered by the Borrower and advised by the Agent in connection with such issue, its share of the Bankers’ Acceptances to be i... (iv) in the case of a Drawdown, each Lender shall, for same day value on the Drawdown Date, remit the BA Discount Proceeds or advance the BA Equivalent Advance, as the case may be, payable by such Lender (net of the stamping fee payable to such Lender...