Canadian Bank Products definition

Canadian Bank Products means any centralized banking arrangements entered into by the Canadian Borrower or any of its Subsidiaries with any financial institution in the ordinary course of business for the purpose of obtaining cash management services (which arrangements may include, without limitation, the pooling and set-off of account balances between accounts belonging to different entities, the extension of overdrafts, the provision of guarantees or indemnities or the assumption of joint and several liabilities by one or more entities in regard to obligations of one or more other entities, or other similar arrangements).
Sample 1Sample 2Sample 3
Canadian Bank Products means any one or more of the following types of services or facilities extended to the Canadian Borrower by any Canadian Lender, including the Bank and any of their respective Affiliates or branches in reliance on the Bank’s or a Canadian Lender’s agreement to indemnify such affiliate: (i) credit cards; (ii) ACH Transactions; (iii) cash management, including controlled disbursement services; and (iv) Hedge Agreements; provided, however, that for obligations in respect of any of the foregoing to be included as a “ Canadian Obligation” for purposes of a distribution under Section 3.5, the applicable Canadian Lender must have previously provided written notice to Agent of (i) the existence of such Canadian Bank Product, (ii) the current Dollar Equivalent amount of obligations arising thereunder (determined, in the case of Hedge Agreements and any other Canadian Bank Products that are Debt, in accordance with the definition of “Debt” herein) (“Canadian Bank Product Amount”), and (iii) the methodology to be used by such parties in determining the Canadian Bank Product Amount owing from time to time. The Canadian Bank Product Amount may be changed from time to time upon written notice to the Agent by the applicable Canadian Lender. No Canadian Bank Product Amount may be established or increased at any time that a Default or Event of Default exists or if a reserve in such amount would cause Outstandings to exceed Availability.
Sample 1
Canadian Bank Products means any centralized banking arrangements entered into by the Canadian Borrower or any of its Subsidiaries with any financial institution in the ordinary course of business for the purpose of obtaining cash management services (which arrangements may include, without limitation, the pooling and set- off of account balances between accounts belonging to different entities, the extension of overdrafts, the provision of guarantees or indemnities or the assumption of joint and several liabilities by one or more entities in regard to obligations of one or more other entities, or other similar arrangements).
Sample 1

Examples of Canadian Bank Products in a sentence

  • The parties hereto specifically acknowledge the rights of setoff of the Canadian Lender and its affiliates under, pursuant to or in connection with the Canadian Bank Products to which it is a party and agree that the proceeds of exercising such rights of setoff shall be for the sole account of the Canadian Lender or its affiliates, as the case may be.

  • Canadian Secured Parties: Agent, Canadian LC Issuer, Canadian Lenders and providers of Canadian Bank Products.

  • Debt and other obligations of a Canadian Credit Party relating to Canadian Bank Products.


More Definitions of Canadian Bank Products

Canadian Bank Products means all Bank Products provided to any Canadian Loan Party by any Cash Management Provider.
Sample 1

Related to Canadian Bank Products

  • Bank Products means any service or facility extended to any Loan Party by any Lender or its Affiliates including: (a) credit cards, (b) credit card processing services, (c) debit cards, (d) purchase cards, (e) ACH transactions, (f) cash management, including controlled disbursement, accounts or services, or (g) Hedging Agreements.

  • Secured Bank Product Obligations Debt, obligations and other liabilities with respect to Bank Products owing by an Obligor to a Secured Bank Product Provider; provided, that Secured Bank Product Obligations of an Obligor shall not include its Excluded Swap Obligations.

  • Bank Products Provider means any Lender or Affiliate of a Lender that provides Bank Products to the Borrower or any Guarantor.

  • Canadian Loan Parties means the Canadian Borrower and the Canadian Guarantors.

  • Bank Product Provider means Xxxxx Fargo or any of its Affiliates.

  • Bank Product means any one or more of the following financial products or accommodations extended to any Loan Party or any of its Subsidiaries by a Bank Product Provider: (a) credit cards (including commercial cards (including so-called “purchase cards”, “procurement cards” or “p-cards”)), (b) payment card processing services, (c) debit cards, (d) stored value cards, (e) Cash Management Services, or (f) transactions under Hedge Agreements.

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • Bank Product Obligations means all obligations, liabilities, contingent reimbursement obligations, fees, and expenses owing by a Company to Agent or any Lender (or an affiliate of a Lender) pursuant to or evidenced by the Bank Product Agreements.

  • Canadian Credit Party means the Canadian Borrower and each Canadian Subsidiary Guarantor.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • Canadian Loan Party means any Loan Party organized under the laws of Canada or any province or territory thereof.

  • Canadian Lenders means the financial institutions listed on the signature pages of the Canadian Credit Agreement and their respective successors and assigns.

  • Domestic Loan Parties means, collectively, the Company and the Guarantors.

  • Canadian Borrower as defined in the preamble hereto.

  • Bank Product Agreements means those agreements entered into from time to time by Borrower or its Subsidiaries with a Bank Product Provider in connection with the obtaining of any of the Bank Products.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • Canadian Agent means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as Canadian agent for the Lenders hereunder, or any successor Canadian agent.

  • Canadian Lender means any Lender that (a) is a Canadian chartered bank lending and receiving payment through Canadian offices and (b) has a Canadian Commitment.

  • Domestic Borrower means any Borrower organized under the laws of the United States of America or any state of the United States of America.

  • Domestic Obligations means all Obligations owing by the Domestic Loan Parties (other than in respect of Guarantees of Foreign Obligations pursuant to Article IV).

  • Canadian Obligations means the Obligations owing by the Canadian Borrower.

  • Borrower Credit Agreement Obligations the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, or the other Loan Documents, or any Letter of Credit, or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of any of the foregoing agreements).

  • Bank Products Obligations of any Person means the obligations of such Person pursuant to any Bank Products Agreement.

  • Bank Product Agreement means any agreement between one or more Obligors and a Bank Product Provider evidencing the making available of any Bank Product by such Bank Product Provider to such Obligor. The foregoing includes, without limitation, Swap Agreements.

  • Canadian Administrative Agent means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as Canadian administrative agent for the Lenders hereunder.

  • Banking Product Obligations means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person in respect of any treasury, depository and cash management services, netting services and automated clearing house transfers of funds services, including obligations for the payment of fees, interest, charges, expenses, attorneys’ fees and disbursements in connection therewith.