BA Cessation Notice definition

BA Cessation Notice has the meaning ascribed thereto in Section 2.09(7).

BA Cessation Notice. If the BA Cessation Notice is provided, then as of the BA Cessation Effective Date, so long as the Administrative Agent has not received, by 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the BA Cessation Notice, written notice of objection to the termination of the obligation to make or maintain Bankers’ Acceptances or BA Equivalent Advances from Lenders comprising the Required Lenders, (i) any Notice of Conversion or Notice of Rollover that requests the conversion of any Loan to, or rollover of any Loans as, a Bankers’ Acceptance or BA Equivalent Advance shall be ineffective, and (ii) if any Notice of Borrowing requests a Bankers’ Acceptance or BA Equivalent Advance such Loan shall be made as a CXXXX Loan of the same tenor. For the avoidance of doubt, any outstanding Bankers’ Acceptances or BA Equivalent Advances shall remain in effect following the CDOR Cessation Date until such Bankers’ Acceptances or BA Equivalent Advances stated maturity.

BA Cessation Notice. If the BA Cessation Notice is provided, then as of the BA Cessation Effective Date, so long as the Administrative Agent has not received, by 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the date of the BA Cessation Notice, written notice of objection to the termination of the obligation to make or maintain Bankers’ Acceptances from Lenders comprising the Majority Lenders, (i) any Accommodation Request that requests the conversion of any Advances to, or rollover of any Advances as, a Bankers’ Acceptance shall be ineffective, and (ii) if any Accommodation Request requests a Bankers’ Acceptance such Drawing shall be made as a Prime Rate Advance. For the avoidance of doubt, any outstanding Bankers’ Acceptance shall remain in effect following the CDOR Cessation Date until such Bankers’ Acceptance’s stated maturity.

Examples of BA Cessation Notice in a sentence

• The Agent shall have the option to, effective as of the date set out in the BA Cessation Notice, which shall be a date on or after the CDOR Cessation Date (the “BA Cessation Effective Date”), terminate the obligation of the Lenders to make or maintain Bankers’ Acceptances, provided that the Agent shall give notice to the Borrower and the Lenders at least thirty (30) Business Days prior to the BA Cessation Effective Date (“BA Cessation Notice”).

• The Administrative Agent shall have the option to, effective as of the date set out in the BA Cessation Notice, which shall be a date on or after the CDOR Cessation Date (the “BA Cessation Effective Date”), terminate the obligation of the Lenders to make or maintain Bankers’ Acceptances, provided that the Administrative Agent shall give notice to the Borrower and the Lenders at least thirty (30) Business Days prior to the BA Cessation Effective Date (“BA Cessation Notice”).

• The Agent will promptly notify the Borrower and the Lenders of (i) the implementation of any Benchmark Replacement, (ii) any occurrence of a Term CORRA Transition Event, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, and (iv) by delivering a BA Cessation Notice pursuant to subsection 6.14.7, its intention to terminate the obligation of the Lenders to make or maintain Bankers’ Acceptances.

• The Administrative Agent will promptly notify the Company and the Lenders of (i) the implementation of any Canadian Benchmark Replacement, (ii) any occurrence of a Term XXXXX Transition Event, (iii) the effectiveness of any Canadian Benchmark Replacement Conforming Changes, and (iv) by delivering a BA Cessation Notice pursuant to clause (vii) of this Section 3.07(d), its intention to terminate the obligation of the Lenders to make or maintain Bankers’ Acceptances.

• The Administrative Agent shall have the option to, effective as of the date set out in the BA Cessation Notice, which shall be a date on or after the CDOR Cessation Date (the “BA Cessation Effective Date”), terminate the obligation of the Lenders to make or maintain Bankers’ Acceptances; provided that the Administrative Agent shall give notice to the Company and the Lenders at least thirty (30) Business Days prior to the BA Cessation Effective Date (“BA Cessation Notice”).

• The Canadian Agent shall have the option to, effective as of the date set out in the BA Cessation Notice, which shall be a date on or after the CDOR Cessation Date (the “BA Cessation Effective Date”), terminate the obligation of the Lenders to make or maintain Bankers’ Acceptances, provided that the Canadian Agent shall give notice to the Borrowers and the Lenders at least thirty (30) Business Days prior to the BA Cessation Effective Date (“BA Cessation Notice”).

• The Administrative Agent shall have the option to, effective as of the date set out in the BA Cessation Notice, which shall be a date on or after the CDOR Cessation Date (the “BA Cessation Effective Date”), terminate the obligation of the Lenders to make or maintain Bankers’ Acceptances, provided that the Administrative Agent shall give notice to the Borrowers and the Lenders at least thirty (30) Business Days prior to the BA Cessation Effective Date (“BA Cessation Notice”).

• The Agent shall have the option to, effective as of the date set out in the BA Cessation Notice, which shall be a date on or after the CDOR Cessation Date (the "BA Cessation Effective Date"), terminate the obligation of the Lenders to make or maintain B/As, provided that the Agent shall give notice to the Borrower and the Lenders at least thirty (30) Business Days prior to the BA Cessation Effective Date ("BA Cessation Notice").

• The Administrative Agent will promptly notify the Borrower and the Lenders of (i) the implementation of any CDN Benchmark Replacement, (ii) any occurrence of a Term XXXXX Transition Event, (iii) the effectiveness of any CDN Benchmark Replacement Conforming Changes, and (iv) by delivering a BA Cessation Notice pursuant to Section 3.17(7), its intention to terminate the obligation of the Lenders to make or maintain Bankers’ Acceptances.

• The Administrative Agent shall have the option to, effective as of the date set out in the BA Cessation Notice, which shall be a date on or after the CDOR Cessation Date (the “BA Cessation Effective Date”), terminate the obligation of the Lenders to make or maintain Banker’s Acceptances, provided that the Administrative Agent shall give notice to Borrower Representative and the Lenders at least thirty (30) Business Days prior to the BA Cessation Effective Date (“BA Cessation Notice”).

More Definitions of BA Cessation Notice

BA Cessation Notice has the meaning given to it in Section 3.5(g);

BA Cessation Notice has the meaning given to in Section 3.17(7). (33) “BA Equivalent Loan” means an Advance made by a Non BA Lender evidenced by a Discount Note. (34) “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. (35) “Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. (36) “Bankers’ Acceptance” and “B/A” each means, as applicable, a bill of exchange within the meaning of the Bills of Exchange Act (Canada) denominated in Canadian Dollars drawn by