Examples of Canadian Subfacility in a sentence
Within the limits of the Facility Commitment and the Canadian Subfacility Amount, and in accordance with the procedures set forth in this Agreement and the Servicing Agreement, the Sponsor may authorize the Servicer to establish a Canadian Line of Credit Commitment in favor of a Canadian Franchisee who meets the credit criteria established by the Sponsor.
All LC Participation Fees and Fronting Fees shall be computed on the basis of a year of 360 days (or 365 days, in the case of such fees payable in respect of Letters of Credit denominated in Canadian Dollars outstanding under the Canadian Subfacility) and shall be payable for the actual number of days elapsed.
All Canadian Borrowers shall be jointly and severally liable as borrowers for all Borrowings under the Canadian Subfacility of each Canadian Borrower regardless of which Canadian Borrower received the proceeds thereof.
The Existing Letters of Credit listed on Part A of Schedule 1.01B shall be deemed issued under the Canadian Subfacility.
For the avoidance of doubt, and for purposes of this Agreement, the U.S. Borrowers shall be permitted to borrow only under the U.S. Subfacility and against the U.S. Borrowing Base and the Canadian Borrower shall be permitted to borrow only under the Canadian Subfacility and against the Canadian Borrowing Base.