Canadian Funding Agent definition

Canadian Funding Agent shall have the meaning set forth in the opening paragraph hereof.

Canadian Funding Agent means Bank of America, acting through its Canada branch, in its capacity as Canadian funding agent under the Loan Documents, or any successor thereof.

Canadian Funding Agent means The Bank of Nova Scotia.

Examples of Canadian Funding Agent in a sentence

• The exculpatory provisions set forth in this Article shall apply to any such sub-agent or attorney-in-fact and the Related Parties of the Canadian Funding Agent, any such sub-agent and any such attorney-in-fact and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Canadian Funding Agent.

• On the date that such participation is required to be funded, each Canadian Lender shall promptly transfer, in immediately available funds in the currency of the subject Letter of Credit, the amount of its participation to the Canadian Funding Agent for the account of the Canadian Issuing Bank.

• The Canadian Funding Agent and any such sub-agent or attorney-in-fact may perform any and all of its duties and exercise its rights and powers through their respective Related Parties.

• The Canadian Funding Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account.

• The Canadian Funding Agent may perform any of its duties hereunder or under the other Loan Documents by or through any one or more sub-agents or attorneys-in-fact appointed by the Canadian Funding Agent.

• After any retiring Canadian Funding Agent’s resignation hereunder, the provisions of this Article shall continue in effect for the benefit of such retiring Canadian Funding Agent and its representatives and agents in respect of any actions taken or not taken by any of them while it was serving as the Canadian Funding Agent.

• The banks serving as the Administrative Agent and the Canadian Funding Agent shall have the same rights and powers under this Agreement and any other Loan Document in its capacity as a Lender as any other Lender and may exercise or refrain from exercising the same as though it were not an Agent; and the terms “Lenders”, “Required Lenders”, or any similar terms shall, unless the context clearly otherwise indicates, include such Agent in their individual capacity.

• Upon any such resignation, the Required Canadian Lenders shall have the right to appoint a successor Canadian Funding Agent, subject to the approval by the Borrower Representative provided that no Default or Event of Default shall exist at such time.

• No Bankers’ Acceptances shall be issued if a Default or an Event of Default exists, unless the Canadian Funding Agent and each of the Canadian Lenders shall have otherwise consented in writing.

• The Canadian Funding Agent further represents and warrants to the Canadian Borrowers and the Administrative Agent that in respect of any amounts paid or credited to it under this Agreement, the Canadian Funding Agent will be entitled to receive such amount free and clear of, and without any obligation on the part of the Canadian Borrowers to make any withholding or deduction for or on account of any taxes imposed by Canada or any subdivision or taxing authority thereof.

More Definitions of Canadian Funding Agent

Canadian Funding Agent shall have the meaning assigned to such term in the preamble hereto.

Canadian Funding Agent means BAC in its capacity as funding agent for Canadian Lenders hereunder and under the Related Agreements, or any successor funding agent that is a resident of Canada under the Income Tax Act (Canada) or is entitled to complete exemption from Canadian withholding tax imposed on or with respect to any payments to be made to it pursuant to this Agreement, for Canadian Lenders pursuant to Section 10.

Canadian Funding Agent. The Bank of Nova Scotia, together with its affiliates, as the funding agent for the Canadian Loans, together with any of its successors.