Common use of Payment of Canadian BA’s; Cash Collateral; Prepayments; Taxes, Yield Protection and Illegality Clause in Contracts

Payment of Canadian BA’s; Cash Collateral; Prepayments; Taxes, Yield Protection and Illegality. (a) PMCULC and each Designated Borrower shall provide for the payment to each Lender of the full face amount of each Canadian BA accepted for its account on the earlier of (i) the date of maturity of such Canadian BA; and (ii) the date on which any Obligations become due and payable pursuant to Section 8.02. Any amount owing by PMCULC or a Designated Borrower in respect of any Canadian BA which is not paid in accordance with the foregoing, shall, as and from the date on which such Canadian BA matures, be deemed to be outstanding hereunder as a Canadian Prime Rate Loan. Each Lender shall be entitled to recover interest from PMCULC or such Designated Borrower, at the Default Rate, on any amount that is not paid when due by PMCULC or such Designated Borrower, from the date of maturity of each applicable Canadian BA to the date such payment, and all interest thereon, is provided for by PMCULC or such Designated Borrower, both before and after demand, default and judgment. (b) For purposes of this Schedule 2.01A, Section 2.05(d) and Section 8.02(c), “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Lenders, as collateral for the Obligations in respect of Canadian BA’s, cash or deposit account balances pursuant to documentation in form and substance satisfactory to the Administrative Agent and the Lenders (which documents are hereby consented to by the Lenders). Derivatives of such term have corresponding meanings. PMCULC and each Designated Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in all such cash and deposit account balances and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked accounts at Bank of America.

Payment of Canadian BA’s; Cash Collateral; Prepayments; Taxes, Yield Protection and Illegality. (a) PMCULC and each Designated Borrower shall provide for the payment to each Lender of the full face amount of each Canadian BA accepted for its account on the earlier of (i) the date of maturity of such Canadian BA; and (ii) the date on which any Obligations become due and payable pursuant to Section 8.02. Any amount owing by PMCULC or a Designated Borrower in respect of any Canadian BA which is not paid in accordance with the foregoing, shall, as and from the date on which such Canadian BA matures, be deemed to be outstanding hereunder as a Canadian Prime Rate Loan. Each Lender shall be entitled to recover interest from PMCULC or such Designated BorrowerPMCULC, at the Default Rate, on any amount that is not paid when due by PMCULC or such Designated BorrowerPMCULC, from the date of maturity of each applicable Canadian BA to the date such payment, and all interest thereon, is provided for by PMCULC or such Designated BorrowerPMCULC, both before and after demand, default and judgment. (b) For purposes of this Schedule 2.01A, Section 2.05(d) and Section 8.02(c), “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Lenders, as collateral for the Obligations in respect of Canadian BA’s, cash or deposit account balances pursuant to documentation in form and substance satisfactory to the Administrative Agent and the Lenders (which documents are hereby consented to by the Lenders). Derivatives of such term have corresponding meanings. PMCULC and each Designated Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in all such cash and deposit account balances and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked accounts at Bank of America.