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BA Equivalent Note definition

BA Equivalent Note has the meaning specified in Section 2.15(i).
BA Equivalent Note means a promissory note payable by the Borrower to a Non-BA Lender in the form of Exhibit "G" attached hereto.
BA Equivalent Note has the meaning specified in Section 4.03(3).

Examples of BA Equivalent Note in a sentence

  • Any such payment shall satisfy TCCI’s obligations under the Bankers’ Acceptance, Draft or BA Equivalent Note to which it relates and the relevant Lender shall thereafter be solely responsible for the payment of such Bankers’ Acceptances, Drafts or BA Equivalent Notes.

  • During the existence of an Event of Default with respect to TCCI, no Drawing may be requested, nor may any Bankers' Acceptance, Draft or BA Equivalent Note be renewed or continued by TCCI, without the consent of the applicable Required Lenders, and the Required Lenders may demand that any or all of the then outstanding Bankers' Acceptances, Drafts and BA Equivalent Notes be prepaid by TCCI on the last day of the then current BA Maturity Date with respect thereto.

  • Each BA Equivalent Note shall be negotiable by the Non-BA Lender without notice to or the consent of the Borrower, and the holder thereof shall be entitled to enforce such BA Equivalent Note against the Borrower free of any equities, defences or rights of set-off that may exist between the Borrower and the Non-BA Lender.

  • The Borrower hereby agrees that each BA Equivalent Note completed by the Non-BA Lender on behalf of the Borrower is a valid, binding and negotiable instrument of the Borrower as drawer and endorser.

  • The Borrower hereby waives any defences to payment which might otherwise exist if for any reason a BA Equivalent Note is held by the Non-BA Lender for its own account at maturity.


More Definitions of BA Equivalent Note

BA Equivalent Note has the meaning set forth in Section 5.1(a);
BA Equivalent Note means a promissory note executed and delivered by the Canadian Borrower to a Canadian Lender in substantially the form of Exhibit C to this Annex A.
BA Equivalent Note has the meaning specified in Section 2.24(c)(iii).
BA Equivalent Note means a non-interest bearing promissory note (including a depository note, as such expression is defined in the Depository Bills and Notes Act (Canada)), issued by the Cdn Borrower to a Non-BA Lender and which is discounted by such Non-BA Lender in accordance with the provisions of Section 4.11;
BA Equivalent Note has the meaning specified in Section 2.06(a).
BA Equivalent Note means a non-interest-bearing promissory note of each Canadian Borrower in favor of a Non-Acceptance Bank in the principal amount of a loan made by such Bank pursuant to Section 1.10 of Schedule 1.16 hereof, having the same maturity date as the Acceptances issued contemporaneously therewith, stating that it is given pursuant to, and is subject to, the terms of this Agreement and otherwise being in form and substance satisfactory to the Non-Acceptance Bank acting reasonably.
BA Equivalent Note means a promissory note executed by the Canadian Borrowers to evidence the BA Equivalent Loan made by a Canadian Lender, substantially in the form of Exhibit A-4 hereto.