Common use of Terms of Acceptance Clause in Contracts

Terms of Acceptance. Each Draft shall be accepted by a Canadian Lender, upon the written request of Canadian Borrower given in accordance with paragraph (c), by the completion and acceptance by such Canadian Lender of a Draft (i) payable in Canadian Dollars, drawn by Canadian Borrower on such Canadian Lender in accordance with this Agreement, to the order of such Canadian Lender and (ii) maturing prior to the Maturity Date on a day not less than 28 days nor more than 180 days after the date of such Draft (and in integral maturities of one month, two months, three months or six months, or, from time to time, such other nonstandard periods as Canadian Agent and the affected Canadian Lender(s) may agree), excluding days of grace, all as specified in the relevant Notice of Drawing to be delivered under paragraph (c) of this Section; provided that any maturity date that would otherwise fall on a day that is not a Canadian Business Day shall be extended to the next succeeding Canadian Business Day in accordance with the provisions of Section 2.13(a) mutatis mutandis.

Appears in 3 contracts

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

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Terms of Acceptance. Each Draft shall be accepted by a Canadian Lender, upon the written request of Canadian the Administrative Borrower given in accordance with paragraph (c), by the completion and acceptance by such Canadian Lender of a Draft (i) payable in Canadian Dollars, drawn by either Canadian Borrower on such the Canadian Lender in accordance with this Agreement, to the order of such the Canadian Lender and (ii) maturing prior to the Maturity Date with respect to such Canadian Lender on a day not less than 28 days nor more than 180 days after the date of such Draft (and in integral maturities of one month, two months, three months or six months, or, from time to time, such other nonstandard periods as the Canadian Administrative Agent and the affected Canadian Lender(s) may agree), excluding days of grace, all as specified in the relevant Notice of Drawing to be delivered under paragraph (c) of this Section; provided that any maturity date that would otherwise fall on a day that is not a Canadian Business Day shall be extended to the next succeeding Canadian Business Day in accordance with the provisions of Section 2.13(a) 2.09 mutatis mutandis.

Appears in 1 contract

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

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