Procedure for Drawing. (1) Each Drawing shall be made on notice (a “Drawing Notice”) given by the Canadian Borrower to the Agent not later than 11:00 a.m. (Toronto time) on the number of days’ notice specified in Schedule 5. Each Drawing Notice shall be in substantially the form of Schedule 3, shall be irrevocable, except as provided in Section 4.06(1), shall be binding on the Canadian Borrower and shall specify (i) the Drawing Date; (ii) the aggregate Face Amount of Drafts to be accepted, if applicable, and purchased; and (iii) the term thereof.
(2) Not later than 12:00 noon (Toronto time) on an applicable Drawing Date, each applicable Lender shall complete one or more Drafts in accordance with the Drawing Notice and either (i) accept the Drafts and purchase the Banker’s Acceptances so created for the Drawing Price; or (ii) purchase the Drafts for the Drawing Price. In each case, upon receipt by the Agent of funds from the applicable Lenders on account of the Drawing Price and upon fulfilment of the applicable conditions set forth in ARTICLE 7, the Agent shall make such funds available to the Canadian Borrower in accordance with ARTICLE 2.
(3) The Canadian Borrower shall, at the request of any Lender, issue one or more non-interest bearing, promissory notes (each a “BA Equivalent Note”) payable on the maturity date of any unaccepted Draft referred to above, in such form as such Lender may reasonably specify and in a principal amount equal to the Face Amount of, and in exchange for, any unaccepted Draft which such Lender has purchased in accordance with Section 4.03(2).
(4) Banker’s Acceptances, Drafts and BA Equivalent Notes purchased by a Lender may be held by it for its own account until the maturity date thereof or sold by it at any time prior to that date in any relevant Canadian market in such Lender’s sole discretion.
Procedure for Drawing. (i) Each Drawing shall be made on the Borrower’s irrevocable notice to the Global Agent, which may be given by telephone. Each such notice must be received by the Global Agent not later than 12:00 noon not less than three (3) Business Days prior to the requested date of any Drawing. Each telephonic notice by the Borrower pursuant to this Section 2.05(c) must be confirmed promptly by delivery to the Global Agent of a written Drawing Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Drawing Notice (whether telephonic or in writing) shall specify (A) the Drawing Date, (B) the aggregate Face Amount of Bankers’ Acceptance or BA Equivalent Notes to be accepted and purchased (or purchased, as the case may be); and (C) the Contract Maturity Date for the Bankers’ Acceptance or BA Equivalent Notes.
(ii) Following receipt of a Drawing Notice, the Global Agent shall promptly notify each Multicurrency Revolving Lender of the amount of its Multicurrency Revolving Commitment Percentage of the applicable Drawing. Not later than 1:00 p.m. on an applicable Drawing Date, each Multicurrency Revolving Lender shall complete a Bankers’ Acceptance or, in the case of a Non BA Lender, a BA Equivalent Note, in a Face Amount and for a term identical to the Face Amount and term of the Bankers’ Acceptance that such Non BA Lender would have been required to accept on such Drawing Date if it were a BA Lender, in accordance with the Drawing Notice and either (i) accept the Drafts and purchase the Bankers’ Acceptances thereby created for the Drawing Price; or (ii) purchase such BA Equivalent Note for the Drawing Price and, in each case, pay to the Global Agent the Drawing Proceeds in respect of such Bankers’ Acceptance or BA Equivalent Note, as the case may be (determined in the case of a BA Equivalent Note, as if such BA Equivalent Note were a Bankers’ Acceptance). Upon satisfaction of the applicable conditions set forth in Section 4.02, the Global Agent shall make all Drawing Proceeds so received available to the Borrower in like funds as received by the Global Agent either by (i) crediting the account of the Borrower on the books of the Global Agent with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Global Agent by the Borrower; provided, however, that if, on any Drawing Date, there are L/C Borrowings outstanding, then the applicable Drawing...
Procedure for Drawing. Each Bankers’ Acceptance Loan shall be made in accordance with the notice provisions given by the Borrower by way of a notice of Borrowing to the Canadian Sub-Agent as set forth in Section 2.03 of the Credit Agreement
Procedure for Drawing. Each Bankers’ Acceptance Loan shall be made in accordance with the notice provisions given by the relevant Borrower by way of a Notice of Borrowing to the Administrative Agent as set forth in Section 2.03 of the Agreement.
Procedure for Drawing. 48 Section 4.4 Presigned Draft Forms....................................... 49 Section 4.5 Payment, Conversion or Renewal of BA Instruments............ 49 Section 4.6 Circumstances Making Bankers' Acceptances Unavailable....
Procedure for Drawing. (1) Each Drawing shall be made on notice (a ng. "Drawing Notice") given by the Borrower to the Agent not later than 2:00 p.m. (Toronto time) on the number of days notice specified in Schedule 4. Each Drawing Notice shall be in substantially the form of Schedule 3, shall be irrevocable and binding on the Borrower and shall specify (i) the Drawing Date; (ii) the Credit Facility under which such Drawing is to be made; (iii) the aggregate Face Amount of Drafts to be created; and (iv) the contract maturity date for such Drafts.
Procedure for Drawing. Each Advance by way of Bankers’ Acceptance shall be made pursuant to a Borrowing Notice given by the Borrower to the Lender not later than 4:00 p.m. (Toronto time), on the Banking Day prior to the date of the proposed Advance. Each Borrowing Notice shall be in substantially the form of Schedule 1.1.20.
Procedure for Drawing. The Borrower shall give the Agent irrevocable written notice not later than 1:00 p.m. (Toronto time) at least two (2) Business Days prior to the date of the proposed Drawing in the form of an Accommodation Notice, or telephonic notice followed immediately by an Accommodation Notice; provided, however, that the Borrower's failure to confirm any telephonic notice with an Accommodation Notice shall not invalidate any notice so given if acted upon by the Agent. Upon receipt of an Accommodation Notice, the Agent shall be responsible for making all necessary arrangements with each of the Banks with respect to the stamping of Bankers' Acceptances in the manner contemplated in this Section 2.5. The Borrower shall not in any Accommodation Notice select an Interest Period for a Draft which ends after the Maturity Date or which conflicts with the repayments provided for in Sections 2.8 or 2.10(b) hereof.
Procedure for Drawing. 12 Section 4.4 Presigned Power of Attorney..................................13 Section 4.5 Payment, Conversion or Renewal of BA Instruments...........
Procedure for Drawing. Each Bankers’ Acceptance Loan shall be made on three Business Day’s prior notice given by the Luxapplicable Borrower by way of a Borrowing Request to the Administrative Agent in accordance with Section 2.03 of the Credit Agreement.
