Common use of Power of Attorney for the Execution of Bankers’ Acceptances Clause in Contracts

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment of the BA Loans, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ Acceptances. In this respect, it is each Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:

Appears in 6 contracts

Samples: Eleventh Amendment and Consent (AbitibiBowater Inc.), Eleventh Amendment and Consent (Bowater Inc), Third Amendment and Waiver (Bowater Inc)

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Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment borrowings under the Tranche 1 Revolving Commitments by way of the BA LoansBAs, the each Borrower hereby appoints each Tranche 1 Revolving Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Tranche 1 Revolving Lender, blank forms of Bankers’ AcceptancesBAs. In this respect, it is each Tranche 1 Revolving Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances BAs for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances BAs required to be accepted and purchased by any Tranche 1 Revolving Lender and which are signed and/or endorsed on its behalf by a Tranche 1 Revolving Lender shall bind the such Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the such Borrower. Each Tranche 1 Revolving Lender is hereby authorized to issue such Bankers’ Acceptances BAs endorsed in blank in such face amounts as may be determined by such Tranche 1 Revolving Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances BAs required to be accepted and purchased by such Tranche 1 Revolving Lender. No Tranche 1 Revolving Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Tranche 1 Revolving Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the a Borrower, each a Tranche 1 Revolving Lender shall cancel all forms of Bankers’ Acceptances BAs which have been pre-signed or pre-endorsed by or on behalf of the such Borrower and which are held by such Tranche 1 Revolving Lender and have not yet been issued in accordance herewith. Each Tranche 1 Revolving Lender shall maintain a record with respect to Bankers’ Acceptances BAs held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Tranche 1 Revolving Lender agrees to provide such records to the a Borrower at the such Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:.

Appears in 3 contracts

Samples: Credit Agreement (Domtar CORP), Credit Agreement (Domtar CORP), Credit Agreement (Domtar CORP)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment of the BA Loans, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers' Acceptances. In this respect, it is each Lender’s 's responsibility to maintain an adequate supply of blank forms of Bankers' Acceptances for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers' Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers' Acceptances signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers' Acceptances endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers' Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers' Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s 's expense upon request. To facilitate the acceptance of Bankers' Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:

Appears in 2 contracts

Samples: Seventh Amendment (AbitibiBowater Inc.), Third Amendment and Waiver (AbitibiBowater Inc.)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment of the BA Loans, the Borrower hereby appoints each Lender as its attorney to sign and - endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers' Acceptances. In this respect, it is each Lender’s 's responsibility to maintain an adequate supply of blank forms of Bankers' Acceptances for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers' Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers' Acceptances signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers' Acceptances endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers' Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers' Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s 's expense upon request. To facilitate the acceptance of Bankers' Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:

Appears in 1 contract

Samples: Credit Agreement (AbitibiBowater Inc.)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment of the BA LoansLoans by way of Bankers’ Acceptances, the Borrower hereby appoints each Lender or its agent as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ Acceptances. In this respect, it is each Lender’s responsibility to maintain maintain, or cause to be maintained, an adequate supply of blank forms of Bankers’ Acceptances for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances signed and/or endorsed on its behalf by a Lender or its agent shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue issue, or cause to be issued, such Bankers’ Acceptances endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such Lender the Lenders or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain maintain, or cause to be maintained, a record with respect to Bankers’ Acceptances held by it or its agent in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:.

Appears in 1 contract

Samples: Credit Agreement (Manulife Financial Corp)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment the utilization of the BA LoansProject Credit Facility through Bankers' Acceptances, upon the receipt by the Collateral Agent of any Borrowing Request, any Continuation/Conversion Notice or any Term Loan Conversion Notice with respect to Bankers' Acceptances, the Borrower hereby appoints each Lender as its attorney mandatary to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers' Acceptances. In this respect, it is each Lender’s Lenders' responsibility to maintain an adequate supply of blank forms of Bankers' Acceptances for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers' Acceptances signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers an Authorized Officer of the Borrower. Each Lender is hereby authorized to issue such Bankers' Acceptances endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful misconduct of such the Lender or its officers, employees, agents or representatives. Each Lender shall maintain a record with respect to Bankers' Acceptances (1) voided by such Lender for any reason, (2) accepted and purchased by it hereunder, and (3) cancelled at their respective maturities. Each Lender further agrees to retain such records in the manner and for the statutory periods provided in the various provincial or federal statutes and regulations which apply to such Lender. On the repayment in full of all Obligations request by or on request by behalf of the Borrower, each a Lender shall cancel all forms of Bankers' Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such the said Lender and have are not yet been required to be issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:'s irrevocable Borrowing Request.

Appears in 1 contract

Samples: Credit and Acceptance Agreement (Trigen Energy Corp)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment acceptance of the BA LoansBorrowings by way of Bankers’ Acceptances, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ AcceptancesDrafts. In this respect, it is each Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances Drafts for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances Drafts signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually effectively as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances Drafts endorsed in blank in such face amounts as may be determined by such LenderLenders; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument instrument, except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such the Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their the respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate Drafts drawn by the acceptance of Borrower to be accepted as Bankers’ Acceptances hereunder, shall be signed by a duly authorized officer or officers of the Borrower hereby authorizes or by its attorneys. Notwithstanding that any Person whose signature appears on any Bankers’ Acceptance may no longer be an authorized signatory for the Lenders Borrower at the time of issuance of a Bankers’ Acceptance; that signature shall nevertheless be valid and irrevocably appoints sufficient for all purposes as if the authority had remained in force at the time of issuance and any Bankers’ Acceptance so signed shall be binding on the Borrower. Upon tender of each of Draft the Lenders as its attorney, respectively:Borrower shall pay to the Lender the fee specified in Section 5.1 with respect to such Draft.

Appears in 1 contract

Samples: Credit Agreement (Pacificorp /Or/)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment acceptance of the BA LoansBorrowings by way of Bankers’ Acceptances, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ AcceptancesDrafts. In this respect, it is each Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances Drafts for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances Drafts signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually effectively as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances Drafts endorsed in blank in such face amounts Face Amounts as may be determined by such LenderLenders; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument instrument, except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such the Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their the respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate Drafts drawn by the acceptance of Borrower to be accepted as Bankers’ Acceptances hereunder, shall be signed by a duly authorized officer or officers of the Borrower hereby authorizes or by its attorneys. Notwithstanding that any Person whose signature appears on any Bankers’ RBC – AltaLink (AILP) – 2020 $200M Credit Agreement Acceptance may no longer be an authorized signatory for the Lenders Borrower at the time of issuance of a Bankers’ Acceptance; that signature shall nevertheless be valid and irrevocably appoints sufficient for all purposes as if the authority had remained in force at the time of issuance and any Bankers’ Acceptance so signed shall be binding on the Borrower. Upon tender of each of Draft the Lenders as its attorney, respectively:Borrower shall pay to the Lender the fee specified in Section 5.1 with respect to such Draft.

Appears in 1 contract

Samples: Assignment and Assumption (Midamerican Funding LLC)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment borrowings under the Facility B Commitments by way of the BA LoansB/As, the Canadian Borrower hereby appoints each Facility B Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such 118 Facility B Lender, blank forms of Bankers’ AcceptancesB/As. In this respect, it is each Facility B Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances B/As for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Canadian Borrower recognizes and agrees that all Bankers’ Acceptances B/As required to be accepted and purchased by any Facility B Lender and which are signed and/or endorsed on its behalf by a Facility B Lender shall bind the Canadian Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Canadian Borrower. Each Facility B Lender is hereby authorized to issue such Bankers’ Acceptances B/As endorsed in blank in such face amounts as may be determined by such Facility B Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances B/As required to be accepted and purchased by such Facility B Lender. No Facility B Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Facility B Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Canadian Borrower, each a Facility B Lender shall cancel all forms of Bankers’ Acceptances B/As which have been pre-signed or pre-endorsed by or on behalf of the Canadian Borrower and which are held by such Facility B Lender and have not yet been issued in accordance herewith. Each Facility B Lender shall maintain a record with respect to Bankers’ Acceptances B/As held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Facility B Lender agrees to provide such records to the Canadian Borrower at the Canadian Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:.

Appears in 1 contract

Samples: Credit Agreement (Claiborne Liz Inc)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment acceptance of the BA LoansBorrowings by way of Bankers' Acceptances, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ AcceptancesDrafts. In this respect, it is each Lender’s 's responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances Drafts for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances Drafts signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually effectively as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances Drafts endorsed in blank in such face amounts as may be determined by such LenderLenders; provided that the aggregate amount thereof is equal to the aggregate LEGAL_1:22094689.5 amount of Bankers' Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument instrument, except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such the Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers' Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their the respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s 's expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, Drafts drawn by the Borrower hereby authorizes the Lenders and irrevocably appoints each to be accepted as Bankers' Acceptances shall be signed by a duly authorized officer or officers of the Lenders Borrower or by its attorneys. Notwithstanding that any Person whose signature appears on any Bankers' Acceptance may no longer be an authorized signatory for the Borrower at the time of issuance of a Bankers' Acceptance; that signature shall nevertheless be valid and sufficient for all purposes as its attorney, respectively:if the authority had remained in force at the time of issuance and any Bankers' Acceptance so signed shall be binding on the Borrower. Upon tender of each Draft the Borrower shall pay to the Lender the fee specified in Section 5.1 with respect to such Draft.

Appears in 1 contract

Samples: Credit Agreement (Berkshire Hathaway Energy Co)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment of the BA Loans, the Borrower hereby appoints each Lender as its attorney to sign and - endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ Acceptances. In this respect, it is each Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:

Appears in 1 contract

Samples: Credit Agreement (Bowater Inc)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment acceptance of the BA LoansBorrowings by way of Bankers' Acceptances, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ AcceptancesDrafts. In this respect, it is each Lender’s 's responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances Drafts for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances Drafts signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually effectively as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances Drafts endorsed in blank in such face amounts as may be determined by such LenderLenders; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument instrument, except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such the Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers' Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their the respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s 's expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, Drafts drawn by the Borrower hereby authorizes the Lenders and irrevocably appoints each to be accepted as Bankers' Acceptances shall be signed by a duly authorized officer or officers of the Lenders Borrower or by its attorneys. Notwithstanding that any Person whose signature appears on any Bankers' Acceptance may no longer be an authorized signatory for the Borrower at the time of issuance of a Bankers' Acceptance; that signature shall nevertheless be valid and sufficient for all purposes as its attorneyif the authority had remained in force at the time of issuance and any Bankers' Acceptance so signed shall be binding on the Borrower. Upon tender of each Draft the Borrower shall pay to the Lender the fee specified in Section 4.1 with respect to such Draft. For clarity, respectively:Section 2.7 shall apply to Discount Notes, mutatis mutandis.

Appears in 1 contract

Samples: Credit Agreement (Berkshire Hathaway Energy Co)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment acceptance of the BA LoansBorrowings by way of Bankers’ Acceptances, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ AcceptancesDrafts. In this respect, it is each Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances Drafts for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances Drafts signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually effectively as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances Drafts endorsed in blank in such face amounts as may be determined by such LenderLenders; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument instrument, except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such the Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their the respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate Drafts drawn by the acceptance of Borrower to be accepted as Bankers’ Acceptances hereunder, shall be signed by a duly authorized officer or officers of the Borrower hereby authorizes or by its attorneys. Notwithstanding that any Person whose signature appears on any Bankers’ Acceptance may no longer be an authorized signatory for the Lenders Borrower at the time RBC – AltaLink (AILP) – 2015 Amended and irrevocably appoints Restated Credit Agreement Legal_1:35701022.7 of issuance of a Bankers’ Acceptance; that signature shall nevertheless be valid and sufficient for all purposes as if the authority had remained in force at the time of issuance and any Bankers’ Acceptance so signed shall be binding on the Borrower. Upon tender of each of Draft the Lenders as its attorney, respectively:Borrower shall pay to the Lender the fee specified in Section 5.1 with respect to such Draft.

Appears in 1 contract

Samples: Credit Agreement (Pacificorp /Or/)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment borrowings under the Commitments by way of the BA LoansB/As, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ AcceptancesB/As. In this respect, it is each Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances B/As for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances B/As required to be accepted and purchased by any Lender and which are signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances B/As endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances B/As required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted arising from the gross negligence or willful misconduct of such Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each a Lender shall cancel all forms of Bankers’ Acceptances B/As which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances B/As held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:.

Appears in 1 contract

Samples: Credit Agreement (Thompson Creek Metals CO Inc.)

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Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment borrowings under the Tranche 1 Revolving Commitments by way of the BA LoansBAs, the each Borrower hereby appoints each Tranche 1 Revolving Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Tranche 1 Revolving Lender, blank forms of Bankers’ AcceptancesBAs. In this respect, it is each Tranche 1 Revolving Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances BAs for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances BAs required to be accepted and purchased by any Tranche 1 Revolving Lender and which are signed and/or endorsed on its behalf by a Tranche 1 Revolving Lender shall bind the such Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the such Borrower. Each Tranche 1 Revolving Lender is hereby authorized to issue such Bankers’ Acceptances BAs endorsed in blank in such face amounts as may be determined by such Tranche 1 Revolving Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances BAs required to be accepted and purchased by such Tranche 1 Revolving Lender. No Tranche 1 Revolving Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Tranche 1 Revolving Lender or its officers, employees, agents or representativesrepresentatives (as determined by a court of competent jurisdiction by a final and nonappealable judgment). On the repayment in full of all Obligations or on request by the a Borrower, each a Tranche 1 Revolving Lender shall cancel all forms of Bankers’ Acceptances BAs which have been pre-signed or pre-endorsed by or on behalf of the such Borrower and which are held by such Tranche 1 Revolving Lender and have not yet been issued in accordance herewith. Each Tranche 1 Revolving Lender shall maintain a record with respect to Bankers’ Acceptances BAs held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Tranche 1 Revolving Lender agrees to provide such records to the a Borrower at the such Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:.

Appears in 1 contract

Samples: Credit Agreement (Domtar CORP)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment borrowings under the Tranche 1 Revolving Commitments by way of the BA LoansBAs, the Canadian Borrower hereby appoints each Tranche 1 Revolving Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Tranche 1 Revolving Lender, blank forms of Bankers’ AcceptancesBAs. In this respect, it is each Tranche 1 Revolving Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances BAs for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Canadian Borrower recognizes and agrees that all Bankers’ Acceptances BAs required to be accepted and purchased by any Tranche 1 Revolving Lender and which are signed and/or endorsed on its behalf by a Tranche 1 Revolving Lender shall bind the Canadian Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Canadian Borrower. Each Tranche 1 Revolving Lender is hereby authorized to issue such Bankers’ Acceptances BAs endorsed in blank in such face amounts as may be determined by such Tranche 1 Revolving Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances BAs required to be accepted and purchased by such Tranche 1 Revolving Lender. No Tranche 1 Revolving Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Tranche 1 Revolving Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Canadian Borrower, each a Tranche 1 Revolving Lender shall cancel all forms of Bankers’ Acceptances BAs which have been pre-signed or pre-endorsed by or on behalf of the Canadian Borrower and which are held by such Tranche 1 Revolving Lender and have not yet been issued in accordance herewith. Each Tranche 1 Revolving Lender shall maintain a record with respect to Bankers’ Acceptances BAs held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Tranche 1 Revolving Lender agrees to provide such records to the Canadian Borrower at the Canadian Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:.

Appears in 1 contract

Samples: Credit Agreement (Domtar CORP)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment acceptance of the BA LoansBorrowings by way of Bankers’ Acceptances, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ AcceptancesDrafts. In this respect, it is each Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances Drafts for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances Drafts signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually effectively as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances Drafts endorsed in blank in such face amounts as may be determined by such LenderLenders; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument instrument, except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such the Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their the respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate Drafts drawn by the acceptance of Borrower to be accepted as Bankers’ Acceptances hereunder, shall be signed by a duly authorized officer or officers of the Borrower hereby authorizes or by its attorneys. Notwithstanding that any Person whose signature appears on any Bankers’ Acceptance may no longer be an authorized signatory for the Lenders Borrower at the time of issuance of a Bankers’ Acceptance; that signature shall nevertheless be valid and irrevocably appoints sufficient for all purposes as if the authority had remained in force at the time of issuance and any Bankers’ Acceptance so signed shall be binding on the Borrower. Upon tender of each of Draft the Lenders as its attorney, respectively:Borrower shall pay to the Lender the fee specified in Section 4.1 with respect to such Draft.

Appears in 1 contract

Samples: Credit Agreement (Midamerican Funding LLC)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment of the BA Loans, the Canadian Borrower hereby appoints each Revolving Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Revolving Lender, blank forms of Bankers' Acceptances. In this respect, it is each Revolving Lender’s 's responsibility to maintain an adequate supply of blank forms of Bankers' Acceptances for acceptance under this Agreement. Each Revolving Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers' Acceptance as it exercises in respect of its own bearer securities. The Canadian Borrower recognizes and agrees that all Bankers' Acceptances signed and/or endorsed on its behalf by a Revolving Lender shall bind the Canadian Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Canadian Borrower. Each Revolving Lender is hereby authorized to issue such Bankers' Acceptances endorsed in blank in such face amounts as may be determined by such Revolving Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' Acceptances required to be accepted and purchased by such Revolving Lender. No Revolving Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such the Revolving Lender or its officers, employees, agents or representatives. On the repayment in full of all Revolving Obligations or on request by the Canadian Borrower, each Revolving Lender shall cancel all forms of Bankers' Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Canadian Borrower and which are held by such Revolving Lender and have not yet been issued in accordance herewith. Each Revolving Lender shall maintain a record with respect to Bankers' Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Revolving Lender agrees to provide such records to the Canadian Borrower at the Canadian Borrower’s 's expense upon request. To facilitate the acceptance of Bankers' Acceptances hereunder, the Canadian Borrower hereby authorizes the Revolving Lenders and irrevocably appoints each of the Revolving Lenders as its attorney, respectively:

Appears in 1 contract

Samples: Credit Agreement (Cott Corp /Cn/)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment of the BA Loans, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers' Acceptances. In this respect, it is each Lender’s 's responsibility to maintain an adequate supply of blank forms of Bankers' Acceptances for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers' Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers' Acceptances signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers' Acceptances endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers' Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers' Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers' Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s 's expense upon request. To facilitate the acceptance of Bankers' Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:

Appears in 1 contract

Samples: Credit Agreement (AbitibiBowater Inc.)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment acceptance of the BA LoansBorrowings by way of Bankers’ Acceptances, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ AcceptancesDrafts. In this respect, it is each Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances Drafts for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances Drafts signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually effectively as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances Drafts endorsed in blank in such face amounts Face Amounts as may be determined by such LenderLenders; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument instrument, except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such the Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their the respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate RBC – AltaLink (AILP) – 2020 Amended and Restated Credit Agreement Drafts drawn by the acceptance of Borrower to be accepted as Bankers’ Acceptances hereunder, shall be signed by a duly authorized officer or officers of the Borrower hereby authorizes or by its attorneys. Notwithstanding that any Person whose signature appears on any Bankers’ Acceptance may no longer be an authorized signatory for the Lenders Borrower at the time of issuance of a Bankers’ Acceptance; that signature shall nevertheless be valid and irrevocably appoints sufficient for all purposes as if the authority had remained in force at the time of issuance and any Bankers’ Acceptance so signed shall be binding on the Borrower. Upon tender of each of Draft the Lenders as its attorney, respectively:Borrower shall pay to the Lender the fee specified in Section 5.1 with respect to such Draft.

Appears in 1 contract

Samples: Assignment and Assumption (Midamerican Funding LLC)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment of the BA Loans, the Borrower hereby appoints each Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ Acceptances. In this respect, it is each Lender’s responsibility to maintain an adequate supply of blank forms of Bankers’ Acceptances for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances signed and/or endorsed on its behalf by a Lender shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue such Bankers’ Acceptances endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such Lender or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain a record with respect to Bankers’ Acceptances held by it in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:

Appears in 1 contract

Samples: Credit Agreement (Bowater Inc)

Power of Attorney for the Execution of Bankers’ Acceptances. To facilitate availment of the BA LoansLoans by way of Bankers’ Acceptances, the Borrower hereby appoints each Lender or its agent as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Lender, blank forms of Bankers’ Acceptances. In this respect, it is each Lender’s responsibility to maintain maintain, or cause to be maintained, an adequate supply of blank forms of Bankers’ Acceptances for acceptance under this Agreement. Each Lender shall exercise the same degree of care in the custody and safekeeping of signed blank forms of Bankers’ Acceptance as it exercises in respect of its own bearer securities. The Borrower recognizes and agrees that all Bankers’ Acceptances signed and/or endorsed on its behalf by a Lender or its agent shall bind the Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Borrower. Each Lender is hereby authorized to issue issue, or cause to be issued, such Bankers’ Acceptances endorsed in blank in such face amounts as may be determined by such Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Lender. No Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except to the extent that such damage, loss or other claim is determined by a court of competent jurisdiction by final nonappealable judgment to have resulted from the gross negligence or willful wilful misconduct of such Lender the Lenders or its officers, employees, agents or representatives. On the repayment in full of all Obligations or on request by the Borrower, each Lender shall cancel all forms of Bankers’ Acceptances which have been pre-signed or pre-endorsed by or on behalf of the Borrower and which are held by such Lender and have not yet been issued in accordance herewith. Each Lender shall maintain maintain, or cause to be maintained, a record with respect to CREDIT AGREEMENT Bankers’ Acceptances held by it or its agent in blank hereunder, voided by it for any reason, accepted and purchased by it hereunder, and cancelled at their respective maturities. Each Lender agrees to provide such records to the Borrower at the Borrower’s expense upon request. To facilitate the acceptance of Bankers’ Acceptances hereunder, the Borrower hereby authorizes the Lenders and irrevocably appoints each of the Lenders as its attorney, respectively:.

Appears in 1 contract

Samples: Credit Agreement (Manulife Financial Corp)

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