CAD Loan definition
Examples of CAD Loan in a sentence
If the Canadian Benchmark Replacement is Daily Compounded ▇▇▇▇▇, all interest payments for any CAD Loan will be payable on a quarterly basis.
Subject to the terms and conditions of this Agreement, during the Canadian Commitment Period, the Canadian Banks shall make a CAD Loan or CAD Loans to any Canadian Borrower in such amount or amounts as such Canadian Borrower may from time to time request, but not exceeding in aggregate principal amount at any time outstanding hereunder the aggregate amount of the Canadian Commitments.
Each Canadian Borrower hereby authorizes any other Canadian Borrower to request a CAD Loan hereunder and agrees that it is receiving or will receive a direct pecuniary benefit therefor.
Canadian Borrowers' use of the proceeds of the CAD Loan Notes shall be for working capital and other general corporate purposes of the Canadian Borrowers.
Each request by a Canadian Borrower for the making, conversion or continuation of a CAD Loan shall be deemed to be a joint and several request by all Canadian Borrowers.
All payments (including prepayments) of principal and interest on any CAD Loan and all payments with respect to the facility fee for or any other payment with respect to the Canadian Commitments shall be made in same day CAD funds at the Designated Lending Office for the benefit of the Canadian Banks.
The obligation of Canadian Borrowers to repay the CAD Loans made by each Canadian Bank and to pay interest thereon shall be evidenced by a CAD Loan Note of Canadian Borrowers in the form of EXHIBIT C hereto, dated the Activation Date, and payable to the order of such Canadian Bank in the principal amount of its Canadian Commitment, or, if less, the aggregate 23 unpaid principal amount of CAD Loans made hereunder by such Canadian Bank.
Canadian Borrowers shall have executed and delivered to each Canadian Bank its CAD Loan Note.