Examples of Alternate Currency RL Lender in a sentence
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.
Each of the Borrowers recognizes and agrees that all Bankers’ Acceptances signed and/or endorsed by an Alternate Currency RL Lender on behalf of the Borrowers shall bind the Borrowers as fully and effectually as if signed in the handwriting of and duly issued by an Authorized Officer of the Borrowers.
Each such Alternate Currency RL Lender shall maintain an adequate supply of blank Drafts for acceptance under the Credit Agreement and this Schedule III.
Each Mexican Alternate Currency RL Lender as of the date hereof (that is not a Mexican Financial Institution) agrees to use its commercially reasonable efforts to maintain its status as a Mexican Qualifying Lender, including if applicable, by filing renewal applications on a yearly basis.
Each Alternate Currency Revolving Loan Borrower hereby renounces, and shall not claim or request or require any Alternate Currency RL Lender to claim, any days of grace for the payment of any Bankers’ Acceptance.
Each Alternate Currency RL Lender which has a Primary Alternate Currency Revolving Sub-Commitment shall be obligated to make the Canadian Prime Rate Loan contemplated under this clause (j) regardless of whether the conditions precedent to borrowing set forth in the Credit Agreement are then satisfied.
Unless a Bankers’ Acceptance is paid in full at the maturity thereof, or continued as another Alternate Currency Revolving Loan by way of Bankers’ Acceptances, the obligation of any Alternate Currency Revolving Loan Borrower to any Alternate Currency RL Lender in respect of a maturing Bankers’ Acceptance accepted by such Alternate Currency RL Lender shall be deemed to be converted automatically into a Canadian Prime Rate Loan in an amount equal to the full Face Amount of the maturing Bankers’ Acceptance.
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.
The aggregate Face Amount of Bankers’ Acceptances to be accepted by an Alternate Currency RL Lender shall be determined by the Administrative Agent by reference to the respective Alternate Currency RL Percentages related to the Primary Alternate Currency Revolving Sub-Tranche of the Alternate Currency RL Lenders, except that, if the Face Amount of the Bankers’ Acceptance, that would otherwise be accepted by an Alternate Currency RL Lender, would not be Cdn.
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.