No Repayment of Certain Availment Options. The Borrower acknowledges that Bankers’ Acceptances, BA Equivalent Loans and CDOR Loans may not be repaid prior to the maturity thereof. If prior to the maturity of such Availment Option the Agent receives any funds from the Borrower or any other Person which are intended to be applied as a Repayment thereof, the Agent may retain such funds without any obligation to invest such funds or pay interest thereon, and shall apply such funds against such Availment Option on the scheduled maturity date thereof.
Appears in 3 contracts
Samples: Third Amended and Restated Credit Agreement (Village Farms International, Inc.), Credit Agreement (Village Farms International, Inc.), Credit Agreement (Village Farms International, Inc.)
No Repayment of Certain Availment Options. The Borrower acknowledges that Bankers’ ' Acceptances, BA Equivalent Loans and CDOR LIBOR Loans may not be repaid prior to the maturity thereof. If prior to the maturity of such Availment Option the Agent receives any funds from the Borrower or any other Person which are intended to be applied as a Repayment thereof, the Agent may retain such funds without any obligation to invest such funds or pay interest thereon, and shall apply such funds against such Availment Option on the scheduled maturity date thereof.
Appears in 2 contracts
Samples: Credit Agreement (Merus Labs International Inc.), Credit Agreement (Merus Labs International Inc.)
