Common use of Payment, Conversion or Renewal of BA Instruments Clause in Contracts

Payment, Conversion or Renewal of BA Instruments. (i) Upon the maturity of a BA Instrument at the end of its BA Period, the Borrower may (A) elect to issue a replacement BA Instrument by giving a Drawing Notice in accordance with Section 2.24(c)(i) hereof, (B) elect to have all or a portion of the face amount of the BA Instrument converted to a Canadian Prime Rate Loan by providing to the Administrative Agent a Drawing Notice in accordance with Section 2.2, or (C) pay, on or before 10:00 a.m. (Toronto time), an amount in Canadian Dollars equal to the face amount of the BA Instrument (notwithstanding that the Revolving Lender may not be the holder of it at maturity). Any such payment shall satisfy the Borrower’s obligations under the BA Instrument to which it relates and the relevant Revolving Lender shall then be solely responsible for the payment of the BA Instrument.

Payment, Conversion or Renewal of BA Instruments. (i1) Upon the maturity of a BA Instrument at the end of its BA PeriodInstrument, the Borrower may (Ai) elect to issue a replacement BA Instrument by giving a Drawing Notice in accordance with Section 2.24(c)(i) hereof4.3(1), (Bii) elect to have all or a portion of the face amount Face Amount of the BA Instrument converted to an Advance by giving a Canadian Prime Rate Loan by providing to the Administrative Agent a Drawing Borrowing Notice in accordance with Section 2.23.2, or (Ciii) pay, on or before 10:00 a.m. (Toronto time)) on the maturity date for the BA Instrument, an amount in Canadian Dollars equal to the face amount Face Amount of the BA Instrument (notwithstanding that the Revolving Lender may not be the holder of it at maturity). Any such payment shall satisfy the Borrower’s 's obligations under the BA Instrument to which it relates and the relevant Revolving Lender shall then be solely responsible for the payment of the BA Instrument.