Canadian Fronting Bank definition

Canadian Fronting Bank. Bank of America (Canada) or any Affiliate thereof that agrees to issue Canadian Letters of Credit or, if reasonably acceptable to North American Loan Party Agent, any other Canadian Lender or Affiliate thereof that agrees to issue Canadian Letters of Credit.
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Canadian Fronting Bank. (a) Bank of America (Canada); JPMorgan Chase Bank, N.A.; Deutsche Bank AG New York Branch; ING Capital LLC; PNC Bank, National Association; Bank of the West; MUFG Union Bank, N.A. and CIBC Bank USA or, in each case, any of their respective Affiliates or branches that agrees to issue Canadian Letters of Credit, (b) for purposes of such Existing Canadian Letters of Credit, any Multicurrency Facility Lender that issued an Existing Canadian Letter of Credit, and (c) if reasonably acceptable to the Administrative Borrower, any other Multicurrency Facility Lender or Affiliate or branch thereof that agrees to issue Canadian Letters of Credit.
Sample 1
Canadian Fronting Bank. Bank of America (Canada), Deutsche Bank AG, Canada Branch, Morgan Stanley Bank, N.A., Credit Suisse AG, Cayman Islands Branch and ING Capital LLC or any of their respective Affiliates or branches that agrees to issue Canadian Letters of Credit or, if reasonably acceptable to the Administrative Borrower, any other Canadian Revolver Lender or Affiliate or branch thereof that agrees to issue Canadian Letters of Credit.
Sample 1

Examples of Canadian Fronting Bank in a sentence

  • Canadian Borrowers shall, within one Business Day of demand by any Canadian Fronting Bank or Agent from time to time, Cash Collateralize the Canadian LC Obligations of any Defaulting Lender that is a Multicurrency Facility Lender.

  • The obligation of the Applicable Canadian Borrower to reimburse each Canadian Fronting Bank for any payment made under a Canadian Letter of Credit issued by such Canadian Fronting Bank shall be absolute, unconditional, irrevocable, and shall be paid without regard to any lack of validity or enforceability of any Canadian Letter of Credit or the existence of any claim, setoff, defense or other right that the Applicable Canadian Borrower or Loan Parties may have at any time against the beneficiary.

  • Xxxxxx Title: Senior Vice President MXXXXX SXXXXXX SENIOR FUNDING, INC., as a Consenting Revolver Lender By: /s/ Mxxxxxx Xxxx Name: Mxxxxxx Xxxx Title: Vice President MXXXXX SXXXXXX BANK, N.A., as a New Revolver Lender By: /s/ Mxxxxxx Xxxx Name: Mxxxxxx Xxxx Title: Authorized Signatory CIBC Bank USA, as a New Revolver Lender and Canadian Fronting Bank By: /s/ Sxxxx X.

  • Each partial prepayment shall be allocated among the Banks, the Canadian Fronting Bank and the Fronting Bank, in proportion, as nearly as practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Note or loan account, as the case may be, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

  • Xxxxxxxx Title: Senior Vice President By: /s/ JX Xxxxx Name: JX Xxxxx Title: Senior Vice President MUFG Union Bank, N.A., as Consenting Revolver Lender and US Fronting Bank, UK Fronting Bank and Canadian Fronting Bank By: /s/ Jxxxxx Xxx Name: Jxxxxx Xxx Title: Vice President SUMITOMO MITSUI BANKING CORPORATION, as Consenting Revolver Lender By: /s/ Sxxxxxxxx X Xxxxxxxxx Name: Sxxxxxxxx X.

  • Upon any such resignation, the Majority Banks shall have the right to appoint a successor Fronting Bank or Canadian Fronting Bank, as the case may be.

  • A Lender approved by the Agent and the Borrowers to act as fronting bank with respect to the Canadian Loans and Bankers' Acceptances which is a bank named in Schedule I or Schedule II to the Bank Act (Canada) having total assets in excess of $50,000,000, provided, that in the event the Canadian Fronting Bank is also a Bank, such Person's funding requirements as Canadian Fronting Bank shall not include its independent requirement in its individual capacity to fund as a Bank.

  • Each Applicable Lender, U.S. Fronting Bank and Canadian Fronting Bank shall promptly notify Loan Party Agent and Agent of any change in circumstances that would change any claimed Tax exemption or reduction.

  • Agent, any Canadian Fronting Bank, Canadian Lenders, Secured Bank Product Providers of Bank Products to Canadian Domiciled Loan Parties and their Subsidiaries and the other Foreign Facility Secured Parties that are the beneficiaries of a Foreign Cross-Guarantee made by the Canadian Domiciled Loan Parties (but excluding, for the avoidance of doubt, the U.S. Facility Secured Parties in their capacities as such).

  • After any retiring Fronting Bank's or Canadian Fronting Bank's, as the case may be, resignation, the provisions of this Credit Agreement and the other Loan Documents shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Fronting Bank or Canadian Fronting Bank, as the case may be.


More Definitions of Canadian Fronting Bank

Canadian Fronting Bank. (a) Bank of America (Canada); JPMorgan Chase Bank, N.A.; Deutsche Bank AG New York Branch; ING Capital LLC; PNC Bank, National Association; BMO Bank N.A.; Xxxxx Fargo Bank, National Association and CIBC Bank USA or, in each case, any of their respective Affiliates or branches that agrees to issue Canadian Letters of Credit, (b) for purposes of such Existing Canadian Letters of Credit, any Multicurrency Facility Lender that issued an Existing Canadian Letter of Credit, and (c) if reasonably acceptable to the Administrative Borrower, any other Multicurrency Facility Lender or Affiliate or branch thereof that agrees to issue Canadian Letters of Credit.
Sample 1

Related to Canadian Fronting Bank

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder.

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

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • 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.

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

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

  • Canadian Lenders means the Persons (or an Affiliate or branch of any such Person that is acting on behalf of such Person, in which case the term “Canadian Lenders” shall include any such Affiliate or branch with respect to the Canadian Loans made by such Affiliate or branch) having a Canadian Commitment and any other Person that shall acquire a Canadian Commitment, other than any such Person that ceases to be a Canadian Lender pursuant to an Assignment and Assumption.

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

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • U.S. Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of U.S. Swingline Loans hereunder.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • U.S. Revolving Lender means a Lender with a U.S. Revolving Commitment or, if the U.S. Revolving Commitments have terminated or expired, a Lender with U.S. Revolving Exposure.

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

  • Multicurrency Lender means the Persons listed on Schedule 1.01(b) as having Multicurrency Commitments and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption that provides for it to assume a Multicurrency Commitment or to acquire Revolving Multicurrency Credit Exposure, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • LC means Letter of Credit

  • LC Issuing Bank means each Lender identified as an “LC Issuing Bank” on Schedule II and any other Lender or Affiliate of a Lender that shall agree to issue a Letter of Credit pursuant to Section 2.04.

  • Issuing Bank means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.

  • Canadian Revolving Loans means Revolving Loans made to the Canadian Borrower under Section 2.2, including Bankers’ Acceptance Advances.

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