Canadian Operating Facility definition

Canadian Operating Facility means the credit facility in the maximum principal amount of U.S.$50,000,000 or the Equivalent Amount in Canadian Dollars to be made available to the Canadian Borrower by the Canadian Operating Lender in accordance with the provisions hereof, subject to any reduction or increase in accordance with the provisions hereof.

Canadian Operating Facility the C$35,000,000 credit facility made available pursuant to the letter agreement, dated as of the date hereof, between the Canadian Borrower, as borrower, and The Toronto-Dominion Bank, as lender, as the same may be amended, modified or otherwise supplemented from time to time.

Canadian Operating Facility as defined in the Credit Agreement.

Examples of Canadian Operating Facility in a sentence

• Neither Administrative Agents nor any Lender or the Canadian Operating Facility Lender shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Canadian Borrower Obligations, the Canadian Operating Facility Obligations or for the guarantee contained in this Section 13 or any property subject thereto.

• The Company agrees that whenever, at any time, or from time to time, it shall make any payment to the Administrative Agents, any Lender or the Canadian Operating Facility Lender on account of its liability under this Section 13, it will notify the Administrative Agents and such lender in writing that such payment is made under the guarantee contained in this Section 13 for such purpose.

• The provisions of this Section 13.2 shall survive the term of the guarantee contained in this Section 13 and the payment in full of the Canadian Borrower Obligations and the Canadian Operating Facility Obligations and the termination of the Canadian Term Loan Commitments and the Canadian Operating Facility.

• The Company waives diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Canadian Borrower or the Company with respect to the Canadian Borrower Obligations and the Canadian Operating Facility Obligations.

• The Company hereby agrees that any payments in respect of the Canadian Borrower Obligations and the Canadian Operating Facility Obligations pursuant to this Section 13 will be paid to the Canadian Administrative Agent without setoff or counterclaim in Canadian Dollars, at the office of the Canadian Administrative Agent specified in Section 14.2.

• Accommodations shall be made available as (i) Advances pursuant to Article 3, (ii) Bankers' Acceptances pursuant to Article 4 under the Canadian Operating Facility, the Canadian Acquisition Facility and the Canadian Term Facility, and (iii) in the case of the Issuing Lenders only and pursuant to the Operating Facilities only, Documentary Credits pursuant to Article 5.

• Subject to Section 12.2 and Article 8, each Borrower shall repay or pay, as the case may be, to the Agent, on behalf of the Lenders, or, in connection with the Canadian Operating Facility, to the Canadian Operating Facility Lender, or, in connection with the Australian Operating Facility, to the Australian Operating Facility Lender, all Loans and other Obligations outstanding under each Credit Facility on or before the Maturity Date applicable to each Credit Facility and applicable to each Lender.

• In order to satisfy the continuing liability of the Canadian Borrower to the applicable Lenders for an amount equal to the aggregate face amount of the maturing Bankers’ Acceptances converted to another type of Loan, the Agent or the Canadian Operating Facility Lender, as applicable, shall record the obligation of the Canadian Borrower to the applicable Lenders as a Loan of the type into which such continuing liability has been converted.

• The Canadian Borrower may give the Agent notice that Bankers’ Acceptances will be required under the Syndicated Facility pursuant to a Drawdown, Rollover or Conversion and may give the Canadian Operating Facility Lender notice that Bankers’ Acceptances will be required under the Canadian Operating Facility pursuant to a Drawdown, Rollover or Conversion.

• Each determination by the Agent or the Canadian Operating Facility Lender, as applicable, of the U.S. Base Rate applicable from time to time during an Interest Period, in the absence of manifest error, shall be prima facie evidence thereof.

More Definitions of Canadian Operating Facility

Canadian Operating Facility the C$20,000,000 credit facility to be evidenced by a loan agreement between the Canadian Borrower, as borrower, and The Toronto-Dominion Bank, as lender, as the same may be amended, modified or otherwise supplemented from time to time.

Canadian Operating Facility is amended by adding to the end thereof the phrase ", the Core Canadian Operating Facility to be made available by the Domestic Lenders and the Canadian New Tranche Facility to be made available by the New Tranche Lenders which are Domestic Lenders".

Canadian Operating Facility means the revolving operating credit facility to be made available to State and Bracknell by certain Domestic Lenders under this Agreement for the purposes set out in Section 2.03.

Canadian Operating Facility means the revolving operating credit facility to be made available to State and Bracknell by certain Domestic Lenders under this Agreement for the purposes set out in Section 2.03 which shall include the Canadian Swingline Facility to be made available by the Swingline Lender.