However, any use of Canadian ULCs or other hybrid entities should be carefully reviewed.
Canadian means one of the following: (a) a company or association incorporated or organized under the laws of Canada, or its designated representative(s) irrespective of nationality; (b) an agency of a federal, provincial, or local government in Canada, or its designated representative(s) irrespective of nationality; or (c) a self-representing individual who is a Canadian citizen residing in Canada.
Canadian Loan Party means any Loan Party incorporated or otherwise organized under the laws of Canada or any province or territory thereof.
Canadian Loan Parties means Borrower and the Canadian Guarantors.
Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:
Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.
Canadian Collateral means the Collateral owned by (or, in the event such Collateral has been foreclosed upon, immediately prior to such foreclosure that was owned by) a Canadian Loan Party.
Canadian Credit Party means Borrower and each other Credit Party that (i) is organized under the laws of Canada or any province or territory thereof, (ii) carries on business in Canada, or (iii) has any title or interest in or to material property in Canada.
Canadian Borrowers has the meaning specified in the preamble to this Agreement.
Canadian Obligations means all Obligations of the Canadian Loan Parties.
Canadian Borrower as defined in the preamble hereto.
Canadian Loan means an extension of credit by a Canadian Lender to the Canadian Borrower under Article II in the form of a Committed Loan or a Swing Line Loan.
Canadian Availability means, at any time, an amount equal to (a) the lesser of (i) the aggregate Canadian Revolving Commitments at such time and (ii) the Canadian Borrowing Base at such time, minus (b) Commitment Reserves established with respect to the Canadian Loan Parties and/or the Canadian Collateral at such time minus (c) the Aggregate Canadian Credit Exposure at such time.
Canadian Lenders means the financial institutions listed on the signature pages of the Canadian Credit Agreement and their respective successors and assigns.
Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).
Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.
Canadian Lender means any Lender that (a) is a Canadian chartered bank lending and receiving payment through Canadian offices and (b) has a Canadian Commitment.
Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.
Canadian Subsidiaries means the Subsidiaries organized under the laws of Canada or any province, territory or other political subdivision thereof.
Canadian Subsidiary means any Subsidiary that is organized under the laws of Canada or any province or territory thereof.
Canadian Base Rate means the rate determined by the Agent as the higher of (i) the annual rate of interest announced by the Agent (or any of its branches) as being its “prime rate” for determining interest rates on Canadian Dollar-denominated commercial loans made by it in Canada and (ii) the BA Rate (after giving effect to any minimum rate set forth in the definition thereof) for a one month BA Interest Period commencing on such day (or, if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.
Canadian Tax Act means the Income Tax Act (Canada) and the regulations thereunder, as amended from time to time.
CDN$ means the lawful currency of Canada.
Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.
Domestic Borrowing Base means, at any time of calculation, an amount equal to:
Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;
Canadian Dollar means the lawful currency of Canada.