Canadian Rate Loan definition

Canadian Rate Loan means at any given time during the term of this Agreement the Loan, or that portion of the Loan, which the Canadian Borrower has elected or is deemed to have elected to denominate in CDollars and upon which interest is payable at the Canadian Rate.

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Canadian Rate Loan means at any given time during the term of this Agreement the Loan, or that portion of the Loan, which the Borrower has elected or is deemed to have elected to denominate in CDollars and upon which interest is payable at the Canadian Rate.

Canadian Rate Loan means at any given time during the term of this Agreement the Loan, or that portion

Examples of Canadian Rate Loan in a sentence

• The applicable rate of interest for the Canadian Rate Loan will change simultaneously with any change in the Canadian Rate.

• On each Interest Payment Date in respect of the Canadian Rate Loan, the Canadian Borrower shall pay the Administrative Agent interest on the Canadian Rate Loan (excluding however the Swingline Loan in CDollars) at the Canadian Rate.

• On each Interest Payment Date in respect of the Canadian Rate Loan, the Canadian Borrower shall pay to the applicable Swingline Lender interest on the portion of the Swingline Loan outstanding in CDollars to such Swingline Lender at the Canadian Rate.

• The Swingline CDollar Availment and Swingline USDollar Availment from time to time outstanding shall be deemed to be a Canadian Rate Loan or a US Base Rate Loan respectively from the applicable Swingline Lender.

• Principal, interest and interest on overdue amounts on the SOFR Loan, any SOFR Advance, the US Base Rate Loan and any amounts in respect of Letters of Credit denominated in USDollars payable by the Borrower shall be paid in USDollars and principal, interest and interest on overdue amounts on the Canadian Rate Loan, the Term C▇▇▇▇ Loan and the Daily Compounded C▇▇▇▇ Loan and any amounts payable in respect of Letters of Credit denominated in CDollars shall be paid in CDollars.