Examples of Canadian Committed Loan in a sentence
If the Canadian Borrower fails to specify a Type of Canadian Committed Loan in a Canadian Committed Borrowing Notice or if the Canadian Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Canadian Loans denominated in Canadian Dollars shall be made as, or converted to, Canadian Prime Rate Committed Loans and the applicable Canadian Loans denominated in U.S. Dollars shall be made as, or converted to, Canadian Base Rate Committed Loans.
In the case of a Canadian Committed Borrowing, each Canadian Lender shall make the amount of its Canadian Committed Loan available to Canadian Funding Agent in Same Day Funds in Canadian Dollars at Canadian Funding Agent’s Office not later than 12:00 noon, Toronto time, on the Business Day specified in the applicable Canadian Committed Loan Notice.
No Canadian Committed Loan may be converted into or continued as a Canadian Committed Loan denominated in a different currency, but instead must be prepaid in the original currency of such Canadian Committed Loan and reborrowed in the other currency.
Following receipt of a Canadian Committed Loan Notice, Canadian Funding Agent shall promptly notify each Canadian Lender of the amount of its Applicable Tranche Percentage of the applicable Canadian Committed Loans, and if no timely notice of a conversion or continuation is provided by the applicable Canadian Borrower, Canadian Funding Agent shall notify each Canadian Lender of the details of any automatic conversion to ABR Rate Loans.
Actual performance shall be measured in terms of the Company's annual earnings before interest and taxes ("EBIT") and the Company's annual return on assets ("ROA"), where return refers to pre-tax earnings for the fiscal year and assets refers to the average value of assets for the fiscal year determined by adding the value of assets at the beginning of the fiscal year and the value of assets at the end of the fiscal year and dividing by two.
If such Canadian Lender pays such amount (with interest and fees as aforesaid), the amount so paid (excluding, for the avoidance of doubt, the aforesaid interest and fees) shall constitute such Canadian Lender’s Canadian Committed Loan included in the relevant Canadian Committed Borrowing or funded participation in the relevant Canadian Swing Line Loan, as the case may be.
In the case of a Canadian Committed Borrowing, each Canadian Lender shall make the amount of its Canadian Committed Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Canadian Committed Borrowing Notice.
Each telephonic notice by the requesting Canadian Borrower pursuant to this Section 3.2.1 must be confirmed promptly by delivery to Canadian Funding Agent of a written Canadian Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the requesting Canadian Borrower.
There is no need for the employer to justify its decision to renew the contract in the first place, or to justify the particular length of the fixed term in the renewed contract.
If such Canadian Lender pays such amount (with interest and fees as aforesaid), the amount so paid (excluding, for the avoidance of doubt, the aforesaid interest and fees) shall constitute such Canadian Lender’s Canadian Committed Loan included in the relevant Canadian Committed Borrowing or Canadian L/C Advance in respect of the relevant Canadian L/C Borrowing, as the case may be.