Common use of Sale of Acceptances Clause in Contracts

Sale of Acceptances. Canadian Borrower shall have the right to sell any Acceptance. Canadian Lenders shall purchase or arrange for the purchase of all of the Acceptances in the market and each Canadian Lender shall (except to the extent such Discount Proceeds are being applied to repay maturing Acceptances in accordance with Section 2.03(e) or Canadian Prime Loans to be converted in accordance with Section 2.03(c)(i)) provide to Canadian Agent the Discount Proceeds for the account of Canadian Borrower. The Acceptance Fee in respect of such Acceptances may, at the option of Canadian Lender, be set off against the discount proceeds payable by Canadian Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Castle a M & Co), Credit Agreement (Castle a M & Co)

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Sale of Acceptances. The Canadian Borrower shall have the right to sell any Acceptance. ; provided that if so specified in the Notice of Drawing the Canadian Lenders shall purchase or arrange for the purchase of all of the Acceptances in the market and each Canadian Lender shall (except provide to the extent such Discount Proceeds are being applied to repay maturing Acceptances in accordance with Section 2.03(e) or Canadian Prime Loans to be converted in accordance with Section 2.03(c)(i)) provide to Canadian Administrative Agent the Discount Proceeds discount proceeds for the account of the Canadian Borrower. The Acceptance Fee in respect of such Acceptances may, at the option of the Canadian Lender, be set off against the discount proceeds payable by such Canadian Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Great Atlantic & Pacific Tea Co Inc), Credit Agreement (Great Atlantic & Pacific Tea Co Inc)

Sale of Acceptances. The Canadian Borrower shall have the right to sell any Acceptance. ; provided that if so specified in the Canadian Notice of Drawing the Canadian Lenders shall purchase or arrange for the purchase of all of the Acceptances in the market and each Canadian Lender shall (except provide to the extent such Discount Proceeds are being applied to repay maturing Acceptances in accordance with Section 2.03(e) or Canadian Prime Loans to be converted in accordance with Section 2.03(c)(i)) provide to Canadian Administrative Agent the Discount Proceeds discount proceeds for the account of the Canadian Borrower. The Acceptance Fee in respect of such Acceptances may, at the option of the Canadian Lender, be set off against the discount proceeds payable by such Canadian Lender hereunder.,

Appears in 1 contract

Samples: Credit Agreement (Cellu Tissue Holdings, Inc.)

Sale of Acceptances. Canadian Borrower shall have the right to sell any Acceptance. Canadian Lenders shall purchase or arrange for the purchase of all of the Acceptances in the market and each Canadian Lender shall (except to the extent such Discount Proceeds are being applied to repay maturing Acceptances in accordance with Section 2.03(e) or Canadian Prime Rate Loans to be converted in accordance with Section 2.03(c)(i)) provide to Canadian Agent the Discount Proceeds for the account of Canadian Borrower. The Acceptance Fee in respect of such Acceptances may, at the option of Canadian Lender, be set off against the discount proceeds payable by Canadian Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Castle a M & Co)

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Sale of Acceptances. The Canadian Borrower Borrowers shall have the right to sell any Acceptance. ; provided that unless otherwise specified in the Notice of Drawing the Canadian Lenders shall purchase or arrange for the purchase of all of the Acceptances in the market and each Canadian Lender shall (except to the extent such Discount Proceeds are being applied to repay maturing Acceptances in accordance with Section 2.03(e2.05(e) or Canadian Prime Loans to be converted in accordance with Section 2.03(c)(i2.10(f)) provide to the Canadian Administrative Agent the Discount Proceeds for the account of the Canadian BorrowerBorrowers. The Acceptance Fee in respect of such Acceptances may, at the option of the Canadian Lender, be set off against the discount proceeds payable by such Canadian Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Progress Rail Services, Inc.)

Sale of Acceptances. The Canadian Borrower shall have the right to sell any Acceptance. ; provided that if so specified in the Canadian Notice of Drawing the Canadian Lenders shall purchase or arrange for the purchase of all of the Acceptances in the market and each Canadian Lender shall (except provide to the extent such Discount Proceeds are being applied to repay maturing Acceptances in accordance with Section 2.03(e) or Canadian Prime Loans to be converted in accordance with Section 2.03(c)(i)) provide to Canadian Administrative Agent the Discount Proceeds discount proceeds for the account of the Canadian Borrower. The Acceptance Fee in respect of such Acceptances may, at the option of the Canadian Lender, be set off against the discount proceeds payable by such Canadian Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Quiksilver Inc)

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