Common use of Payments to Liquidity Agent Clause in Contracts

Payments to Liquidity Agent. The Liquidity Agent shall purchase for its own account and the Lenders severally shall purchase for their own accounts, Notes that conform to the terms and conditions hereof. Forthwith upon telephone or telex advice or written advice by facsimile transmission to the Lenders that the Liquidity Agent has received a Notice of Utilization and that all applicable conditions under Section 4.2 have been fulfilled, each Lender shall, subject to the terms and conditions of this agreement, make the amount of its pro rata share of the purchase price of the Notes scheduled to be purchased on the Purchase Date available to the Liquidity Agent (or the Trust if so directed by the Liquidity Agent) in sufficient time so that the Trust receives such amounts no later than 4:00 p.m. (Toronto time) in immediately available funds on the Purchase Date by credit to such account of the Liquidity Agent (or the Trust, if applicable) as specified by the Liquidity Agent from time to time by notice to the Lenders or at such other address as the Liquidity Agent may from time to time notify the Lenders.

Appears in 3 contracts

Samples: Liquidity Agreement, Liquidity Agreement, Liquidity Agreement

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Payments to Liquidity Agent. β€Œ The Liquidity Agent shall purchase for its own account and the Lenders severally shall purchase for their own accounts, Notes that conform to the terms and conditions hereof. Forthwith upon telephone or telex advice or written advice by facsimile transmission to the Lenders that the Liquidity Agent has received a Notice of Utilization and that all applicable conditions under Section 4.2 have been fulfilled, each Lender shall, subject to the terms and conditions of this agreement, make the amount of its pro rata share of the purchase price of the Notes scheduled to be purchased on the Purchase Date available to the Liquidity Agent (or the Trust if so directed by the Liquidity Agent) in sufficient time so that the Trust receives such amounts no later than 4:00 p.m. (Toronto time) in immediately available funds on the Purchase Date by credit to such account of the Liquidity Agent (or the Trust, if applicable) as specified by the Liquidity Agent from time to time by notice to the Lenders or at such other address as the Liquidity Agent may from time to time notify the Lenders.

Appears in 1 contract

Samples: Liquidity Agreement

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