Examples of Canadian Participating Lender in a sentence
Canadian Participating Lender - each Lender that has a Canadian Participation as identified on Exhibit 1.1; it being understood and agreed that any Lender with funding capability in Canada shall be a Canadian Participating Lender and that any participation pursuant to subsection 1.1.2 and/or any funding pursuant to subsection 3.2.6 shall be effected through such Canadian Participating Lender’s affiliate in Canada.
Whenever any Canadian Non-Excluded Taxes are payable by the Canadian Borrowers, as promptly as possible thereafter, the Borrower Representative shall send to the Canadian Agent for its own account or for the account of the Canadian Lender or a Canadian Participating Lender, as the case may be, a certified copy of an original official receipt received by Canadian Borrowers showing payment thereof.
Upon the making of each such Canadian Revolving Credit Loan and subject to Section 3.2.6, each Canadian Participating Lender shall be deemed to have irrevocably and unconditionally purchased from the Canadian Lender, without recourse or warranty, an undivided interest and participation in each Canadian Revolving Credit Loan to the extent of such Canadian Participating Lender's Canadian Percentage thereof.
Upon the making of each such Canadian Revolving Credit Loan and subject to subsection 3.2.6, each Canadian Participating Lender shall be deemed to have irrevocably and unconditionally purchased from the Canadian Lender, without recourse or warranty, an undivided interest and participation in each Canadian Revolving Credit Loan to the extent of such Canadian Participating Lender’s Canadian Percentage thereof.
Each such Notice of Canadian Revolving Credit Loan Refunding shall be deemed to constitute delivery of a notice to the Administrative Agent requesting each Canadian Participating Lender to immediately transfer to the Canadian Lender, in immediately available funds, the amount of its participation denominated in U.S. Dollars and Canadian Dollars, as the case may be, with reference to the U.S. Dollar Refunding Amount and the Canadian Refunding Amount, as the case may be.
For purposes of Section 2.13, any interest distributed by Canadian Lender to a Canadian Participating Lender shall be deemed to have been paid by Canadian Borrower.
Each such Notice of Canadian Revolving Loan Refunding shall be deemed to constitute delivery of a notice to Administrative Agent requesting each Canadian Participating Lender to immediately transfer to the Canadian Lender, in immediately available funds, the amount of such Canadian Participating Lender’s participation with reference to the Canadian Dollar Refunding Amount, as the case may be.
The failure of any Domestic Lender or Canadian Participating Lender to make the Domestic Revolving Credit Loans, Domestic Cap Ex Loans, or Canadian Revolving Credit Loans refunding, as the case may be, to be made by it shall not release any other Domestic Lender or Canadian Participating Lender, as the case may be, of its obligations hereunder to make its Domestic Revolving Credit Loan, Domestic Cap Ex Loans, or Canadian Revolving Credit Loan refunding, as the case may be.
Neither Administrative Agent, or Canadian Agent, nor any other Domestic Lender or Canadian Participating Lender shall be responsible for the failure of any other Domestic Lender or Canadian Participating Lender, as the case may be, to make the Domestic Revolving Credit Loan, the Domestic Cap Ex Loan, or Canadian Revolving Credit Loan refunding, as the case may be, to be made by such other Domestic Lender or Canadian Participating Lender, as the case may be.
The foregoing notwithstanding, Administrative Agent, Canadian Agent or UK Agent, as applicable, in its sole discretion, may from its own funds make a Domestic Revolving Credit Loan on behalf of any Domestic Lender, or a Canadian Revolving Credit Loan refunding on behalf of any Canadian Participating Lender, or a UK Revolving Credit Loan refunding or UK Term Loan refunding on behalf of any UK Participating Lender.