Common use of Overdraft Advances Clause in Contracts

Overdraft Advances. In order to facilitate the Operating Borrower’s general cash management requirements, prior to the Operating Facility Maturity Date the Operating Borrower shall be permitted to utilize a portion of the Operating Facility, at any time other than at any time when a Default shall have occurred and be continuing hereunder, by way of overdraft positions (“Overdraft Advances”) in its operating accounts with the Issuing Lender, without being required to request an Advance under the Operating Facility by way of a Borrowing Notice; provided, however, that except as may be agreed from time to time by the Operating Borrower, the Administration Agent and the Lenders, the maximum aggregate principal amount of all such Overdraft Advances at any time outstanding hereunder shall be $20,000,000 (or the Equivalent Amount in US Dollars) less the aggregate Face Amount of outstanding Contingent Payment Letters issued at the request of the Operating Borrower pursuant to Article 5. Overdraft Advances in Canadian Dollars shall constitute Prime Rate Advances for the purposes of this Agreement and Overdraft Advances in US Dollars shall constitute Base Rate Advances for the purposes of this Agreement. At any time and from time to time in its discretion, notwithstanding the occurrence of a Default or an Event of Default, the Issuing Lender may notify the Administration Agent that the Issuing Lender wishes each of the Lenders to provide its Lender’s Proportion of such Overdraft Advances, in which case the Administration Agent shall forthwith notify each of the Lenders of such Lender’s Proportion and each such Lender shall thereupon provide to the Administration Agent, for the account of the Issuing Lender, such Lender’s Proportion of the then outstanding Overdraft Advances. Each such amount so provided in the case of Overdraft Advances by each such Lender shall be deemed to be a Prime Rate Advance (in respect of Canadian Dollars) or a Base Rate Advance (in respect of US Dollars) under the Operating Facility in accordance with the provisions of this Agreement to the same extent as if the Operating Borrower had issued a Borrowing Notice in respect thereof (and for such purposes any notice provisions or minimum amounts of such Advances otherwise referred to in this Agreement shall be disregarded). The aggregate of the amounts so provided by such Lenders to the Administration Agent in respect of Overdraft Advances shall be paid by the Administration Agent to the Issuing Lender and applied by the Issuing Lender to reduce the then outstanding Overdraft Advances held by it.

Overdraft Advances. In order to facilitate the Operating Borrower’s 's general cash management requirements, prior to the Operating Facility Maturity Date the Operating Borrower shall be permitted to utilize a portion of the Operating Facility, at any time other than at any time when a Default shall have occurred and be continuing hereunder, by way of overdraft positions (“"Overdraft Advances”") in its operating accounts with the Issuing Lender, without being required to request an Advance under the Operating Facility by way of a Borrowing Notice; provided, however, that except as may be agreed from time to time by the Operating Borrower, the Administration Agent and the Lenders, the maximum aggregate principal amount of all such Overdraft Advances at any time outstanding hereunder shall be $20,000,000 (or the Equivalent Amount in US Dollars) less the aggregate Face Amount of outstanding Contingent Payment Letters issued at the request of the Operating Borrower pursuant to Article 5. Overdraft Advances in Canadian Dollars shall constitute Prime Rate Advances for the purposes of this Agreement and Overdraft Advances in US Dollars shall constitute Base Rate Advances for the purposes of this Agreement. At any time and from time to time in its discretion, notwithstanding the occurrence of a Default or an Event of Default, the Issuing Lender may notify the Administration Agent that the Issuing Lender wishes each of the Lenders to provide its Lender’s 's Proportion of such Overdraft Advances, in which case the Administration Agent shall forthwith notify each of the Lenders of such Lender’s 's Proportion and each such Lender shall thereupon provide to the Administration Agent, for the account of the Issuing Lender, such Lender’s 's Proportion of the then outstanding Overdraft Advances. Each such amount so provided in the case of Overdraft Advances by each such Lender shall be deemed to be a Prime Rate Advance (in respect of Canadian Dollars) or a Base Rate Advance (in respect of US Dollars) under the Operating Facility in accordance with the provisions of this Agreement to the same extent as if the Operating Borrower had issued a Borrowing Notice in respect thereof (and for such purposes any notice provisions or minimum amounts of such Advances otherwise referred to in this Agreement shall be disregarded). The aggregate of the amounts so provided by such Lenders to the Administration Agent in respect of Overdraft Advances shall be paid by the Administration Agent to the Issuing Lender and applied by the Issuing Lender to reduce the then outstanding Overdraft Advances held by it.. ARTICLE 4

Overdraft Advances. In order to facilitate the Operating Borrower’s Borrowers’ general cash management requirements, prior to the Operating Facility Maturity Date the Operating Borrower Borrowers shall be permitted to utilize a portion of the Operating Facility, at any time other than at any time when a Default shall have occurred and be continuing hereunder, by way of overdraft positions (“Overdraft Advances”) in its their operating accounts with the Issuing Lender, without being required to request an Advance under the Operating Facility by way of a Borrowing Notice; provided, however, that except as may be agreed from time to time by the Operating BorrowerBorrowers, the Administration Agent and the Lenders, the maximum aggregate principal amount of all such Overdraft Advances at any time outstanding hereunder shall be $20,000,000 (or the Equivalent Amount in US Dollars) less the aggregate Face Amount of outstanding Contingent Payment Letters issued at the request of the an Operating Borrower pursuant to Article 5. Overdraft Advances in Canadian Dollars shall constitute Prime Rate Advances for the purposes of this Agreement and Overdraft Advances in US Dollars shall constitute Base Rate Advances for the purposes of this Agreement. At any time and from time to time in its discretion, notwithstanding the occurrence of a Default or an Event of Default, the Issuing Lender may notify the Administration Agent that the Issuing Lender wishes each of the Lenders to provide its Lender’s Proportion of such Overdraft Advances, in which case the Administration Agent shall forthwith notify each of the Lenders of such Lender’s Proportion and each such Lender shall thereupon provide to the Administration Agent, for the account of the Issuing Lender, such Lender’s Proportion of the then outstanding Overdraft Advances. Each such amount so provided in the case of Overdraft Advances by each such Lender shall be deemed to be a Prime Rate Advance (in respect of Canadian Dollars) or a Base Rate Advance (in respect of US Dollars) under the Operating Facility in accordance with the provisions of this Agreement to the same extent as if the applicable Operating Borrower had issued a Borrowing Notice in respect thereof (and for such purposes any notice provisions or minimum amounts of such Advances otherwise referred to in this Agreement shall be disregarded). The aggregate of the amounts so provided by such Lenders to the Administration Agent in respect of Overdraft Advances shall be paid by the Administration Agent to the Issuing Lender and applied by the Issuing Lender to reduce the then outstanding Overdraft Advances held by it.