Common use of Purchase of Bankers’ Acceptances and Discount Notes Clause in Contracts

Purchase of Bankers’ Acceptances and Discount Notes. Before giving value to the Canadian Borrowers, the Canadian Lenders which: (i) are banks that accept bankers’ acceptances or depository bills (as defined in the Depository Act) shall, on the Acceptance Date, accept the Bankers’ Acceptances by inserting the appropriate principal amount, Acceptance Date and maturity date in accordance with the Notice of Bankers’ Acceptance relating thereto and affixing their acceptance stamps thereto, and shall purchase or sell same; and (ii) are not banks or do not accept bankers’ acceptances or depository bills (as defined in the Depository Act) shall, on the Acceptance Date, complete the Discount Notes by inserting the appropriate principal amount, Acceptance Date and maturity date in accordance with the Notice of Bankers’ Acceptance relating thereto.

Purchase of Bankers’ Acceptances and Discount Notes. Before giving value to the Canadian BorrowersBorrower, the Canadian Lenders which: (i) are banks that accept bankers’ acceptances or depository bills (as defined in the Depository Act) shall, on the Acceptance Date, accept the Bankers’ Acceptances by inserting the appropriate principal amount, Acceptance Date and maturity date in accordance with the Notice of Bankers’ Acceptance BA Request relating thereto and affixing their acceptance stamps thereto, and shall purchase or sell same; and (ii) are not banks or do not accept bankers’ acceptances or depository bills (as defined in the Depository Act) shall, on the Acceptance Date, complete the Discount Notes by inserting the appropriate principal amount, Acceptance Date and maturity date in accordance with the Notice of Bankers’ Acceptance BA Request relating thereto.