Canadian Bankers definition

Canadian Bankers. Acceptance” shall mean a time draft, drawn by the beneficiary under a Canadian Acceptance Credit and accepted by the applicable Canadian Issuing Bank upon presentation of documents by the beneficiary of a Canadian Acceptance Credit pursuant to Section 2.05 hereof, in the standard form for bankers’ acceptances of such Canadian Issuing Bank.

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Canadian Bankers. Acceptance” or “Canadian BA” means a non-interest bearing bill of exchange on the Administrative Agent’s usual form (or a bill of exchange within the meaning of the Bills of Exchange Act Canada), R.S.C. 1985, c. B-5, as amended, or a depository bill within the meaning of the Depository Bills and Notes Act (Canada), denominated in Canadian Dollars, drawn by or on behalf of PMCULC, for a term selected by PMCULC of either one, two or three months (as reduced or extended by the Administrative Agent, acting reasonably, to allow the maturity thereof to fall on a Business Day) payable in Canada, and accepted by a Lender in accordance with this Agreement.

Canadian Bankers. Acceptance” -– means a bill of exchange that has been accepted by a Canadian

Examples of Canadian Bankers in a sentence

Notwithstanding that any Person whose signature appears on any Canadian Bankers Acceptance as a signatory for the Canadian Borrower may no longer be an authorized signatory for the Canadian Borrower at the date of issuance of a Canadian Bankers Acceptance, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance and any such Canadian Bankers Acceptance so signed shall be binding on the Canadian Borrower.
The Revolving Credit Loans may be made in U.S. Dollars or Canadian Dollars and from time to time be (x) in the case of Revolving Credit Loans denominated in U.S. Dollars, Eurodollar Rate Loans or Prime Rate Loans and (y) in the case of Revolving Credit Loans that are denominated in Canadian Dollars, Eurodollar Rate Loans, Prime Rate Loans or Canadian Bankers Acceptances.
Each Canadian Bankers Acceptance to be accepted by a Canadian Lender shall be accepted at such Lender's office as designated by said Canadian Lender from time to time.
The Canadian Borrower shall not claim or require any days of grace or require the Agent or any Canadian Lender to claim or allow any days of grace for the payment of any Canadian Bankers Acceptance.
The warranties, representations and covenants of the Company and Investor contained in or made pursuant to this Agreement shall survive the execution and delivery of this Agreement until October 6, 2002.
In addition, the Canadian Borrower hereby appoints each Canadian Lender as its attorney to complete the relevant parts of Canadian Bankers Acceptances (pursuant to the Canadian Bankers Acceptance Notice) with amount, term and other relevant details and to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Canadian Lender, blank forms of Canadian Bankers Acceptances.
The term of all Canadian Bankers' Acceptances and Canadian BA Equivalent Notes issued pursuant to any Notice of Canadian BA Borrowing shall be identical.
Promptly following receipt of a Canadian Bankers Acceptance Notice, the Agent shall so advise the Canadian Lenders of the face amount of each Canadian Bankers Acceptance to be accepted by it and the term thereof.
Each Canadian Lender may at any time and from time to time hold, sell, rediscount or otherwise dispose of any or all Canadian Bankers Acceptances accepted and purchased by it.
The proceeds of the Loans and the Canadian Bankers' Acceptance Discount Proceeds, as the case may be, shall be used for general corporate purposes.

More Definitions of Canadian Bankers

Canadian Bankers. Acceptance Reference Rate” -– means a rate expressed as an annual rate of interest

Canadian Bankers. Acceptance Index” -– means an amount specified from time to time by an Exchange

Canadian Bankers. Acceptance” shall mean a non-interest bearing draft in Canadian Dollars drawn by Canadian Borrower, accepted by the Canadian Lender and issued for value pursuant to this Agreement.