Canadian Facility Usage definition

Canadian Facility Usage means, at the time in question, the US Dollar Equivalent of the aggregate amount of Canadian Loans, Canadian LC Obligations, and BA's outstanding at such time.
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Canadian Facility Usage means, at the time in question, the aggregate amount of US Loans to Canadian Borrower pursuant to Section 2.1(b) and US LC Obligations with respect to US Letters of Credit issued at the request of Canadian Borrower pursuant to Section 2.11 outstanding at such time.
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Canadian Facility Usage means, at the time in question, the US Dollar Exchange Equivalent of the aggregate amount of Canadian
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Examples of Canadian Facility Usage in a sentence

  • Subject to the terms and conditions hereof, Canadian Swing Lender agrees to make loans to each Canadian Borrower (herein called "Canadian Swing Loans") upon the applicable Canadian Borrower's request from time to time during the Canadian Revolving Period, provided that (i) the Canadian Facility Usage shall never exceed the Canadian Maximum Credit Amount, and (ii) the aggregate amount of Canadian Swing Loans outstanding shall never exceed the Canadian Swing Sublimit.

  • In consideration of each Lender's commitment to make Canadian Advances under this Agreement, Devon Canada will pay to Canadian Agent for the account of each Lender a utilization fee determined on a daily basis by applying a rate of 12.5 Basis Points per annum to such Lender's Percentage Share of the Canadian Facility Usage on each day during the term of this Agreement that the Canadian Facility Usage exceeds twenty-five percent (25.0%) of the Canadian Maximum Credit Amount.

  • If at any time the Canadian Facility Usage exceeds the Canadian Commitment (whether due to a reduction in the Canadian Commitment in accordance with this Agreement, or otherwise), Canadian Borrower shall immediately upon demand prepay the principal of the US Loans made to Canadian Borrower in an amount at least equal to such excess.

  • In the event that Overterm Canadian Loans and/or Canadian LC Obligations is respect of Overterm Canadian LCs are outstanding when a utilization fee is due and payable, the utilization fee shall be allocated proportionately to the amounts thereof relative to the overall Canadian Facility Usage on a daily basis.

  • In consideration of each Lender's commitment to make Canadian Advances under this Agreement, Canadian Borrowers will pay to Canadian Agent for the account of each Lender a utilization fee determined on a daily basis by applying a rate of 15 Basis Points per annum to such Lender's Percentage Share of the Canadian Facility Usage on each day during the Canadian Revolving Period on which the Canadian Facility Usage exceeds fifty percent (50%) of the Canadian Maximum Credit Amount.


More Definitions of Canadian Facility Usage

Canadian Facility Usage means, at the time in question, the US Dollar Exchange Equivalent of the aggregate amount of Canadian Loans, Canadian LC Obligations, and BA's outstanding at such time.
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