Common use of Notes; Payments Clause in Contracts

Notes; Payments. (a) Subject to the provisions of Section 10.12 hereof relating to replacement and substitution of the Notes, (i) all Revolving Loans made by a Lender to the Borrower shall be evidenced by a single Revolving Credit Note dated as of the Closing Date, delivered and payable to such Lender in a principal amount equal to such Lender’s Revolving Credit Commitment as of the Closing Date, and (ii) all Swingline Loans made by the Swingline Lender to the Borrower shall be evidenced by a single Swingline Note dated as of June 30, 2005, delivered and payable to the Swingline Lender in a principal amount equal to $15,000,000. (b) The outstanding principal balance of each and every Revolving Loan, as evidenced by the Revolving Credit Notes, shall mature and be fully due and payable on the Revolving Credit Termination Date. The outstanding principal balance of each and every Swingline Loan, as evidenced by the Swingline Note, shall mature and be fully due and payable on the earlier to occur of the Revolving Credit Termination Date or the date such Swingline Loans are required to be paid with proceeds of Revolving Loans in accordance with Section 2.11(c). (c) Subject to Section 10.6 hereof, the Borrower hereby agrees to pay accrued interest on the unpaid principal balance of the Loans on the Interest Payment Dates, commencing with the first of such dates to occur after the date hereof. After the Revolving Credit Termination Date, accrued and unpaid interest on the Revolving Loans and the Swingline Loans shall be payable on demand. (d) To effect payment of accrued interest owing on the Loans as of the Interest Payment Dates, subject to the provisions of Sections 2.1 and 4.1 hereof, the Agent may, but shall not be obligated to, cause the Lenders to make a Revolving Loan or request that the Swingline Lender make a Swingline Loan to pay in full the amount of accrued interest owing and payable on the Loans as of the respective Interest Payment Date, if (i) such Revolving Loan or Swingline Loan, as applicable, is to be made prior to the Revolving Credit Termination Date, (ii) the Availability would be equal to or greater than zero after giving effect to such Revolving Loan or Swingline Loan, as applicable, and the resulting payment of accrued interest to be contemporaneously paid with the proceeds of such Loan, and (iii) no Default or Event of Default shall have occurred which is then continuing. The inability of the Agent to cause a payment of any accrued interest owing on the Loans on any Interest Payment Date in accordance with the preceding sentence shall not in any way whatsoever effect the Borrower’s and any Guarantor’s obligation to otherwise pay such amounts in accordance with the applicable terms hereof or any other Loan Documents.

Notes; Payments. (a) Subject to the provisions of Section 10.12 hereof relating to replacement and substitution of the Notes, (i) all US Revolving Loans made by a US Lender to the US Borrower shall be evidenced by a single US Revolving Credit Note dated as of the Closing Date, delivered and payable to such US Lender in a principal amount equal to such US Lender’s US Revolving Credit Commitment as of the Closing Date, (i) all Canadian Revolving Loans made by a Canadian Lender to the Canadian Borrower shall be evidenced by a single Canadian Revolving Credit Note dated as of the Closing Date, delivered and payable to such Canadian Lender in a principal amount equal to such Canadian Lender’s Canadian Revolving Credit Commitment as of the Closing Date, and (iiiii) all Swingline Loans made by the Swingline Lender to the US Borrower shall be evidenced by a single Swingline Note dated as of June 30, 2005, delivered and payable by the US Borrower to the Swingline Lender in a principal amount equal to $15,000,000. (b) The outstanding principal balance of each and every Revolving Loan, as evidenced by the applicable Revolving Credit Notes, shall mature and be fully due and payable on the Revolving Credit Termination Date. The outstanding principal balance of each and every Swingline Loan, as evidenced by the Swingline Note, shall mature and be fully due and payable on the earlier to occur of the Revolving Credit Termination Date or the date such Swingline Loans are required to be paid with proceeds of US Revolving Loans in accordance with Section 2.11(c). (c) Subject to Section 10.6 hereof, the US Borrower hereby agrees to pay accrued interest on the unpaid principal balance of the US Revolving Loans and the Swingline Loans on the Interest Payment Dates, commencing with the first of such dates to occur after the date hereof. Subject to Section 10.6 hereof, the Canadian Borrower hereby agrees to pay accrued interest on the unpaid principal balance of the Canadian Revolving Loans on the Interest Payment Dates, commencing with the first of such dates to occur after the date hereof. After the Revolving Credit Termination Date, accrued and unpaid interest on the Revolving Loans and the Swingline Loans shall be payable on demand. (d) To effect payment of accrued interest owing on the US Revolving Loans or the Swingline Loans as of the applicable Interest Payment Dates, subject to the provisions of Sections 2.1 and 4.1 hereof, the US Administrative Agent may, but shall not be obligated to, cause the US Lenders to make a US Revolving Loan or request that the Swingline Lender make a Swingline Loan to pay in full the amount of accrued interest owing and payable on the applicable US Revolving Loans or the Swingline Loans as of the respective Interest Payment Date, if (i) such US Revolving Loan or Swingline Loan, as applicable, is to be made prior to the Revolving Credit Termination Date, (ii) the US Availability would be equal to or greater than zero after giving effect to such US Revolving Loan or Swingline Loan, as applicable, and the resulting payment of accrued interest to be contemporaneously paid with the proceeds of such Loan, and (iii) no Default or Event of Default shall have occurred which is then continuing. The inability of the US Administrative Agent to cause a payment of any accrued interest owing on the US Revolving Loans and/or the Swingline Loans on any Interest Payment Date in accordance with the preceding sentence shall not in any way whatsoever effect the Borrower’s obligation of the US Borrower and any Guarantor’s obligation Guarantor of the US Obligations to otherwise pay such amounts in accordance with the applicable terms hereof or any other Loan Documents. (e) To effect payment of accrued interest owing on the Canadian Revolving Loans as of the applicable Interest Payment Dates, subject to the provisions of Sections 2.1 and 4.1 hereof, the Canadian Administrative Agent may, but shall not be obligated to, cause the Canadian Lenders to make a Canadian Revolving Loan to pay in full the amount of accrued interest owing and payable on the Canadian Revolving Loans as of the respective Interest Payment Date, if (i) such Canadian Revolving Loan is to be made prior to the Revolving Credit Termination Date, (ii) the Canadian Availability would be equal to or greater than zero after giving effect to such Canadian Revolving Loan, and the resulting payment of accrued interest to be contemporaneously paid with the proceeds of such Loan, and (iii) no Default or Event of Default shall have occurred which is then continuing. The inability of the Canadian Administrative Agent to cause a payment of any accrued interest owing on the Canadian Revolving Loans on any Interest Payment Date in accordance with the preceding sentence shall not in any way whatsoever effect the obligation of the Canadian Borrower and any Guarantor of the Canadian Obligations to otherwise pay such amounts in accordance with the applicable terms hereof or any other Loan Documents.