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

Payment, Conversion or Renewal of BA Instruments. (i) In connection with a Contract Maturity Date of a Bankers’ Acceptance or BA Equivalent Note, the Borrower may (i) elect to issue a replacement Bankers’ Acceptance or BA Equivalent Note by giving a Drawing Notice in accordance with Section 2.05(c); (ii) elect to have all or a portion of the Face Amount of the Bankers’ Acceptance or BA Equivalent Note converted to a Canadian Prime Rate Loan by giving a Committed Loan Notice in accordance with Section 2.02; or (iii) pay on the Contract Maturity Date for the Bankers’ Acceptance or BA Equivalent Note, an amount in Canadian Dollars equal to the Face Amount of the Bankers’ Acceptance or BA Equivalent Note (notwithstanding that a Multicurrency Revolving Lender may not be the holder of it at maturity) in accordance with Section 2.14(a). Any such payment shall satisfy the Borrower’s obligations under the Bankers’ Acceptance or BA Equivalent Note to which it relates and (in the case of any Bankers’ Acceptance) such Multicurrency Revolving Lender shall then be solely responsible for the payment of the Bankers’ Acceptance. (ii) If the Borrower fails to pay any Bankers’ Acceptance or BA Equivalent Note when due or issue a replacement in the Face Amount of such Bankers’ Acceptance or BA Equivalent Note pursuant to clause (i) above, the unpaid amount due and payable shall be converted to a Canadian Prime Rate Loan made by the Multicurrency Revolving Lenders ratably and shall bear interest in accordance with the terms hereof. This conversion shall occur as of the applicable Contract Maturity Date and without any necessity for the Borrower to give a Committed Loan Notice.

Payment, Conversion or Renewal of BA Instruments. (i) In connection with a Contract Maturity Date Upon the maturity of a Bankers’ Acceptance or BA Equivalent NoteInstrument, the Borrower may (iA) elect to issue a replacement Bankers’ Banker’s Acceptance or BA Equivalent Note Draft by giving a Drawing Notice in accordance with paragraph (c) of this Section 2.05(c)2.03; (iiB) elect to have all or a portion of the Face Amount of the Bankers’ Acceptance or BA Equivalent Note Instrument converted to a Canadian Prime Rate Loan (provided that in the case of a conversion of a portion only of the Face Amount of the BA Instrument, the remaining Face Amount, if any, of such BA Instrument shall not be less than the minimum Face Amount set forth in paragraph (a)(ii) of this Section 2.03) by giving a Committed Loan Notice in accordance with Section 2.02; or (iiiC) pay pay, on or before 12:00 noon (Toronto time) on the Contract Maturity Date maturity date for the Bankers’ Acceptance or BA Equivalent NoteInstrument, an amount in Canadian Dollars equal to the Face Amount of the Bankers’ Acceptance or BA Equivalent Note Instrument (notwithstanding that a Multicurrency Revolving Credit Lender may not be the holder of it at maturity) in accordance with Section 2.14(a). Any such payment shall satisfy the Borrower’s obligations under the Bankers’ Acceptance or BA Equivalent Note Instrument to which it relates and (in the case of any Bankers’ Acceptance) such Multicurrency relevant Revolving Credit Lender shall (y) then be solely responsible for the payment of the Bankers’ AcceptanceBA Instrument, and (z) thereafter indemnify the Borrower from any loss, cost or expense suffered by or imposed upon the Borrower in respect of any claim from a holder of such BA Instrument that the Borrower is liable for payment thereunder or any payment by the Borrower in connection with such claim. (ii) If the Borrower fails to pay any Bankers’ Acceptance or BA Equivalent Note Instrument when due or issue request a replacement in the Face Amount of such Bankers’ Acceptance or BA Equivalent Note Instrument pursuant to clause paragraph (ie)(i) aboveof this Section 2.03, the unpaid amount due and payable shall be converted to a Canadian Prime Rate Loan made by the Multicurrency Revolving Lenders ratably and shall bear interest calculated and payable as provided in accordance with the terms hereofSection 2.09. This conversion shall occur as of the applicable Contract Maturity Date maturity date of the BA Instrument and without any necessity for the Borrower to give a Committed Loan Notice. (iii) No BA Instrument may be repaid or prepaid prior to the maturity date of such BA Instrument. The Borrower may, however, at its option, exercisable upon not less than two Business Day’s notice to the Administrative Agent, elect to deposit with the Administrative Agent Canadian Dollars in same-day funds to be held by the Administrative Agent, pursuant to collateral arrangements satisfactory to the Administrative Agent, for application to the payment of any borrowing by way of BA Instrument designated by the Borrower in such notice. If such a deposit is made, then such BA Instrument shall be deemed no longer outstanding for purposes of this Agreement; provided that the amount of such deposit shall be not less than the full Face Amount of such BA Instrument. Furthermore, in the event the maturity of the Loans is accelerated pursuant to Article VIII, the Borrower shall cash collateralize all outstanding BA Instruments in same-day funds to be held by the Administrative Agent, pursuant to customary collateral arrangements or arrangements otherwise reasonably satisfactory to the Administrative Agent.