Examples of Canadian Letter of Credit Exposure in a sentence
No Canadian Letter of Credit shall be issued, amended, renewed or extended if (and upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the sum of the Canadian Revolving Exposure plus the Canadian Letter of Credit Exposure would exceed the Canadian Sublimit.
The Canadian Borrower agrees to pay to the Canadian Administrative Agent for the account of each Canadian Lender a Canadian Commitment Fee on the average daily amount by which such Lender’s Canadian Commitment exceeds such Lender’s outstanding Canadian Advances plus such Lender’s Applicable Percentage of the Canadian Letter of Credit Exposure at the rate equal to the Applicable Margin for Canadian Commitment Fees for such period.
In the event that any Canadian Letter of Credit shall be outstanding or shall be drawn and not reimbursed after the Maturity Date, the Canadian Borrower shall pay to the Canadian Administrative Agent an amount equal to 103% of the Dollar Equivalent of the Canadian Letter of Credit Exposure allocable to such Letter of Credit to be held in the Canadian Cash Collateral Account and applied in accordance with paragraph (h) below.
The term of this Agreement shall be until the termination or lapse of all Commitments, the final maturity of each Note, the payment of all amounts due under the Loan Documents, and the return in undrafted form of all outstanding Letters of Credit (or the cash collateralization of all outstanding Letters of Credit in an amount equal to the aggregate US Letter of Credit Exposure Amount and Canadian Letter of Credit Exposure Amount then outstanding).
The Canadian Borrower agrees to pay to the Canadian Administrative Agent for the account of each Canadian Lender a Canadian Commitment Fee on the average daily amount by which such Lender’s Canadian Commitment exceeds such Lender’s outstanding Canadian Advances plus such Lender’s Applicable Percentage of the Canadian Letter of Credit Exposure at the per annum rate equal to 0.75%.
In the event that any Canadian Letter of Credit shall be outstanding or shall be drawn and not reimbursed after the Revolving Maturity Date, the Canadian Borrower shall pay to the Canadian Administrative Agent an amount equal to the Canadian Letter of Credit Exposure allocable to such Letter of Credit to be held in the Canadian Cash Collateral Account and applied in accordance with paragraph (i) below.
The Canadian Borrower agrees to pay to the Canadian Administrative Agent for the account of each Canadian Lender a Canadian Commitment Fee on the average daily amount by which such Lender’s Canadian Commitment exceeds such Lender’s outstanding Canadian Advances plus such Lender’s Applicable Percentage of the Canadian Letter of Credit Exposure at the per annum rate equal to the Applicable Margin for Commitment Fees for such period.
The sum of Domestic Letter of Credit Exposure plus the Revolving Loan plus the Canadian Letter of Credit Exposure plus the Canadian Revolving Loan shall in no event exceed the Maximum Amount of Revolving Credit.
In the event that any Canadian Letter of Credit shall be outstanding or shall be drawn and not reimbursed after the Maturity Date, the Canadian Borrower shall pay to the Canadian Administrative Agent an amount equal to the Canadian Letter of Credit Exposure allocable to such Letter of Credit to be held in the Canadian Cash Collateral Account and applied in accordance with paragraph (i) below.
In no event will the principal amount of loans at any one time outstanding made by any Canadian Lender pursuant to this Section 2.2, together with such Canadian Lender's Percentage Interest in the Canadian Letter of Credit Exposure, exceed such Canadian Lender's Commitment with respect to the Canadian Revolving Loan.