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

Payment, Conversion or Renewal of BA Instruments. (1) Upon the maturity of a BA Instrument, a Borrower may (i) elect to issue a replacement BA Instrument by giving a Drawing Notice in accordance with Section 4.03(1), (ii) elect to have all or a portion of the Face Amount of the BA Instrument converted to a Prime Rate Advance by giving a Borrowing Notice in accordance with Section 3.02, or (iii) 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 of the BA Instrument (notwithstanding that a Lender may 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 Lender shall then be solely responsible for the payment of the BA Instrument. (2) If a Borrower fails to pay any BA Instrument when due or issue a replacement in the Face Amount of such BA Instrument pursuant to Section 4.05(1), the unpaid amount due and payable shall be converted to a Canadian Prime Rate Advance made by the Domestic Lenders rateably under the applicable Credit Facility and shall bear interest calculated and payable as provided in Article 3. This conversion shall occur as of the due date and without any necessity for the Borrower to give a Borrowing Notice.

Payment, Conversion or Renewal of BA Instruments. (1) Upon the maturity of a BA Instrument, a the Borrower may (i) elect to issue a replacement BA Instrument by giving a Drawing Notice in accordance with Section 4.03(14.3(1), (ii) elect to have all or a portion of the Face Amount of the BA Instrument converted to a Prime Rate an Advance by giving a Borrowing Notice in accordance with Section 3.023.2, or (iii) 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 of the BA Instrument (notwithstanding that a the Lender may 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 Lender or Facility Participant shall then be solely responsible for the payment of the BA Instrument. (2) If a the Borrower fails to pay any BA Instrument when due or issue a replacement in the Face Amount of such BA Instrument pursuant to Section 4.05(14.5(1), the unpaid amount due and payable shall be converted to a Canadian Prime Rate an Advance made by the Domestic Lenders rateably Lender under the applicable Credit Facility and shall bear interest calculated and payable as provided in Article 3. This conversion shall occur as of the due date and without any necessity for the Borrower to give a Borrowing Notice.

Payment, Conversion or Renewal of BA Instruments. (1) Upon the maturity of a BA Instrument, a the Borrower may (i) elect to issue a replacement BA Instrument by giving a Drawing Notice in accordance with Section 4.03(14.3(1), (ii) elect to have all or a portion of the Face Amount of the BA Instrument converted to a Prime Rate an Advance by giving a Borrowing Notice in accordance with Section 3.023.2, or (iii) 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 of the BA Instrument (notwithstanding that a the Lender may 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 Lender shall then be solely responsible for the payment of the BA Instrument. (2) If a the Borrower fails to pay any BA Instrument when due or issue a replacement in the Face Amount of such BA Instrument pursuant to Section 4.05(14.5(1), the unpaid amount due and payable shall be converted to a Canadian Prime Rate Advance made by the Domestic Lenders rateably Lender under the applicable Credit Operating Facility and shall bear interest calculated and payable as provided in Article 3. This conversion shall occur as of the due date and without any necessity for the Borrower to give a Borrowing Notice.

Payment, Conversion or Renewal of BA Instruments. (1) Upon the maturity of a BA Instrument, a the Borrower may (i) elect to issue a replacement BA Instrument by giving a Drawing Notice in accordance with Section 4.03(1), ; (ii) elect to have all or a portion of the Face Amount of the BA Instrument converted to a Prime Rate an Advance by giving a Borrowing Accommodation Notice in accordance with Section 3.02, ; or (iii) 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 of the BA Instrument (notwithstanding that a Lender may 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 Lender or Participant shall then be solely responsible for the payment of the BA Instrument. (2) If a the Borrower fails to pay any BA Instrument when due or issue a replacement in the Face Amount of such BA Instrument pursuant to Section 4.05(1), the unpaid amount due and payable shall be converted to a Canadian Prime Rate Advance made by the Domestic Revolving Lenders rateably or Facility B-2 Lenders, as applicable, ratably under the applicable Credit Facility and shall bear interest calculated and payable as provided in Article 3. This conversion shall occur as of the due date and without any necessity for the Borrower to give a Borrowing Notice.

Payment, Conversion or Renewal of BA Instruments. (1) Upon the maturity of a BA Instrument, a the Borrower may (i) elect to issue a replacement BA Instrument by giving a Drawing Notice in accordance with Section 4.03(14.3(1), (ii) elect to have all or a portion of the Face Amount of the BA Instrument converted to a Prime Rate an Advance by giving a Borrowing Notice in accordance with Section 3.023.2, or (iii) 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 of the BA Instrument (notwithstanding that a the Lender may 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 Lender shall then be solely responsible for the payment of the BA Instrument. (2) If a the Borrower fails to pay any BA Instrument when due or issue a replacement in the Face Amount of such BA Instrument pursuant to Section 4.05(14.5(1), the unpaid amount due and payable shall be converted to a Canadian Prime Rate Advance made by the Domestic Lenders rateably Lender under the applicable Credit Operating Facility and shall bear interest calculated and payable as provided in Article 3. This conversion shall occur as of the due date and without any necessity for the Borrower to give a Borrowing Notice.

Payment, Conversion or Renewal of BA Instruments. (1) Upon the maturity of a BA Instrument, a the Borrower may (i) elect to issue a replacement BA Instrument by giving a Drawing Notice in accordance with Section 4.03(14.3(1), (ii) elect to have all or a portion of the Face Amount of the BA Instrument converted to a Prime Rate an Advance by giving a Notice of Borrowing Notice in accordance with Section 3.023.3, or (iii) 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 of the BA Instrument (notwithstanding that a the Lender may 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 Lender or Participant shall then be solely responsible for the payment of the BA Instrument. (2) If a the Borrower fails to pay any BA Instrument when due or issue a replacement in the Face Amount of such BA Instrument pursuant to Section 4.05(14.5(1), the unpaid amount due and payable shall be converted to a Canadian Prime Rate Advance made by the Domestic Lenders rateably under the applicable Credit Facility and shall bear interest calculated and payable as provided in Article 3. This conversion shall occur as of the due date and without any necessity for the Borrower to give a Borrowing NoticeNotice of Borrowing.

Payment, Conversion or Renewal of BA Instruments. (1) Upon the maturity of a BA Instrument, a the Borrower may (i) elect to issue a replacement BA Instrument by giving a Drawing Notice in accordance with Section 4.03(12.4(d), (ii) elect to have all or a portion of the Face Amount of the BA Instrument converted to a Prime Rate Advance Loan by giving a Borrowing Notice notice of borrowing in accordance with Section 3.022.3(b), or (iii) pay, on or before 10:00 a.m. (Toronto time) on the maturity date for the BA Instrument, to the Administrative Agent on behalf of the applicable Bank, an amount in Canadian Dollars equal to the Face Amount of the BA Instrument (notwithstanding that a Lender the Bank may 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 Lender Bank shall then be solely responsible for the payment of the BA Instrument. (2) . If a the Borrower fails to pay any BA Instrument when due or issue a replacement in the Face Amount of such BA Instrument pursuant to this Section 4.05(12.4(f), the unpaid amount due and payable shall be converted to a Canadian Prime Rate Advance Loan made by the Domestic Lenders Banks rateably under the applicable Credit Facility and shall bear interest calculated and payable as provided in Article 3Section 4. This conversion shall occur as of the due date and without any necessity for the Borrower to give a Borrowing Noticenotice of borrowing. Prepayment of a BA Instrument is not permitted under this Agreement, except as provided in Section 2.9(b).