Alternate Currency RL Lender definition
Examples of Alternate Currency RL Lender in a sentence
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Bankers’ Acceptances purchased by an Alternate Currency RL Lender may be held by it for its own account until the maturity date or sold by it at any time prior to that date in any relevant Canadian market in such Alternate Currency RL Lender’s sole discretion.
Each Alternate Currency RL Lender which has a Primary Alternate Currency Revolving Sub-Commitment is hereby authorized (in accordance with a Notice of Borrowing related to such Bankers’ Acceptance) to issue such Bankers’ Acceptances endorsed in blank in such Face Amounts as may be determined by such Alternate Currency RL Lender, provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted by such Alternate Currency RL Lender.
Promptly following receipt of a notice of borrowing, conversion or continuation by way of Bankers’ Acceptances, the Administrative Agent shall so advise the Alternate Currency RL Lenders with a Primary Alternate Currency Revolving Sub-Commitment and shall advise each such Alternate Currency RL Lender of the Face Amount of each Bankers’ Acceptance to be accepted by it and the term thereof.
Notwithstanding that any one or more of the individuals whose manual or facsimile signature appears on any xxxx as a signatory on behalf of any Alternate Currency Revolving Loan Borrower or Alternate Currency RL Lender may no longer hold office at the date of such xxxx or at the date of its issuance hereunder, or at any time thereafter, any Bankers’ Acceptance shall be valid and binding upon such Alternate Currency Revolving Loan Borrower.
On request by or on behalf of each Borrower, an Alternate Currency RL Lender shall cancel all forms of Bankers’ Acceptance which have been pre-signed or pre-endorsed on behalf of such Borrower and which are held by such Alternate Currency RL Lender and are not required to be issued in accordance with any Notice of Borrowing made by such Borrower in respect of a Bankers’ Acceptance.
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Each such Alternate Currency RL Lender will provide to the Administrative Agent the BA Discount Proceeds of such B/A Equivalent Loan for the account of the relevant Alternate Currency Revolving Loan Borrower.
Each Alternate Currency Revolving Loan Borrower shall pay to the Administrative Agent, in advance, for distribution to each Alternate Currency RL Lender which accepts a Bankers’ Acceptance (based on their respective Alternate Currency RL Percentages), an Acceptance Fee in respect of the Face Amount of such Bankers’ Acceptance, which shall be payable on or before the date of acceptance of such Bankers’ Acceptance.
Each such Alternate Currency RL Lender shall maintain an adequate supply of blank Drafts for acceptance under the Credit Agreement and this Schedule III.