Common use of Repayments Prior to Maturity Clause in Contracts

Repayments Prior to Maturity. Except as required by Section 4.4(b), no repayment of a Bankers' Acceptance shall be made by the Canadian Borrower to the Canadian Lenders prior to the maturity date thereof. Any such repayment required by Section 4.4(b) shall be made to the Canadian Administrative Agent and such monies shall be held by the Canadian Administrative Agent, in a cash collateral account hypothecated to the Canadian Administrative Agent, to be paid to the Canadian Lenders on the maturity date of the Bankers' Acceptances which have been accepted by it. The Canadian Borrower shall be entitled to the benefit of any interest accruing thereon, in each case, on the respective maturity date of each Bankers' Acceptance in respect of which repayment is made, and upon the maturity of each such Bankers' Acceptance the Canadian Lenders shall apply the interest thereon in payment of amounts owed by the Canadian Borrower hereunder. Any such payment by the Canadian Borrower to the Canadian Lenders shall satisfy the Canadian Borrower's obligations under the Bankers' Acceptance to which it relates and the Canadian Lender which has accepted such Bankers' Acceptance shall thereafter be solely responsible for the payment of such Bankers' Acceptance.

Repayments Prior to Maturity. Except as required by Section 4.4(bsubsection 2.6(b), no repayment of a Bankers' Acceptance shall be made by the Canadian Borrower to the Canadian Lenders prior to the maturity date thereof. Any such repayment required by Section 4.4(bsubsection 2.6(b) shall be made to the Canadian Administrative Agent and such monies shall be held by the Canadian Administrative Agent, in a cash collateral account hypothecated to the Canadian Administrative Agent, to be paid to each of the Canadian Lenders on the maturity date of the Bankers' Acceptances which have been accepted by it. The Canadian Borrower shall be entitled to the benefit of any interest accruing thereon, in each case, on the respective maturity date of each Bankers' Acceptance in respect of which repayment is made, and upon the maturity of each such Bankers' Acceptance the Canadian Lenders shall apply the interest thereon in payment of amounts owed by the Canadian Borrower hereunder. Any such payment by the Canadian Borrower to the Canadian Lenders shall satisfy the Canadian Borrower's obligations under the Bankers' Acceptance to which it relates and the Canadian Lender which has accepted such Bankers' Acceptance shall thereafter be solely responsible for the payment of such Bankers' Acceptance.

Repayments Prior to Maturity. Except as required by Section 4.4(b3.3(b), no repayment of a Bankers' Acceptance shall may be made by the Canadian Borrower Borrowers to the Canadian Lenders prior to the maturity date thereof. Any such repayment required by Section 4.4(b3.3(b) shall be made to the Canadian Administrative Agent and such monies shall be held by the Canadian Administrative Agent, in a cash collateral account hypothecated to the Canadian Administrative Agent, to be paid to each of the Canadian Lenders on the maturity date of the Bankers' Acceptances which have been accepted by it. The Canadian Borrower Borrowers shall be entitled to the benefit of any interest accruing thereon, in each case, on the respective maturity date of each Bankers' Acceptance in respect of which repayment is made, and upon the maturity of each such Bankers' Acceptance the Canadian Lenders shall apply the interest thereon in payment of amounts owed by the Canadian Borrower Borrowers hereunder. Any such payment by the Canadian Borrower Borrowers to the Canadian Lenders shall satisfy the Canadian Borrower's Borrowers' obligations under the Bankers' Acceptance to which it relates and the Canadian Lender which has accepted such Bankers' Acceptance shall thereafter be solely responsible for the payment of such Bankers' Acceptance.