Eligible Canadian Lender definition

Eligible Canadian Lender means (a) a person resident in Canada for purposes of the Income Tax Act (Canada), (b) an authorized foreign bank which at all times holds all of its interest in any Obligations owed by Corel hereunder in the course of its Canadian banking business for purposes of subsection 212(13.3) of the Income Tax Act (Canada) or (c) any Lender or any person able to establish to the satisfaction of the Administrative Agent and Corel based on applicable law in effect on the date on which it becomes a Lender that such Lender is not subject to deduction or withholding of income or similar Taxes imposed by Canada (or any political subdivision or taxing authority thereof or therein) with respect to any payments to such Lender of interest, fees, commissions, or any other amount payable by Corel under the Loan Documents.
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Eligible Canadian Lender means a financial institution or commercial finance company that is (i) not a non-resident of Canada for the purpose of the ITA, or (ii) an “authorized foreign bank” as defined in section 2, of the Bank Act (Canada) and in subsection 248(1) of the ITA, that is not subject to the restrictions and requirements referred to in subsection 524(2) of the Bank Act (Canada) and which will receive all amounts paid or credited to it under its Canadian Revolving Loans and under the Loan Documents in respect of its “Canadian banking business” (as defined in subsection 248(1) of the ITA) for the purposes of paragraph 212(13.3)(a) of the ITA.
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Eligible Canadian Lender means (i) a person that is not a non-resident of Canada for the purpose of the Income Tax Act (Canada), or (ii) an “authorized foreign bank” as defined in section 2 of the Bank Act (Canada) and subsection 248(1) of the Income Tax Act (Canada), which will receive all amounts paid or credited to it under its Canadian Term Loans or Canadian Revolving Loans or Canadian Swingline Loans or Letters of Credit, as applicable, and otherwise under the Loan Documents in respect of its Commitment to make such Loans or issue such Letters of Credit in respect of its “Canadian banking business” (as defined in subsection 248(1) of the Income Tax Act (Canada)) for the purposes of paragraph 212(13.3(a)) of the Income Tax Act (Canada).
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Examples of Eligible Canadian Lender in a sentence

  • Notwithstanding the foregoing, but subject to Section 11.04(b)(v), the Borrowers acknowledge that the rights and obligations of a Canadian Lender hereunder may be assigned to an Eligible Assignee that does not qualify as an Eligible Canadian Lender and further agree that any Borrower approval required in respect of such an assignment shall not be withheld on such basis.

  • Corel may, at any time and from time to time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Lender, designate one or more additional Lenders to act as an issuing bank under the terms of this Agreement; provided that any such Lender shall be an Eligible Canadian Lender which has an Affiliate in the United States.

  • Each Canadian Lender represents and warrants to Cognos as of the date of this Agreement or, as applicable and unless Cognos otherwise agrees, as of the date it becomes a Canadian Lender provided no Event of Default has occurred that is continuing at that time, that it is an Eligible Canadian Lender.


More Definitions of Eligible Canadian Lender

Eligible Canadian Lender means a financial institution that is (i) not a non-resident of Canada for the purpose of the ITA, or (ii) an “authorized foreign bank” as defined in section 2, of the Bank Act (Canada) and in subsection 248(1) of the ITA, that is not subject to the restrictions and requirements referred to in subsection 524(2) of the Bank Act
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Eligible Canadian Lender means a person that is (i) not a non-resident of Canada within the meaning of the Income Tax Act (Canada), (ii) an “authorized foreign bank” that is entering into this Agreement and receiving all payments from Cognos under the Canadian Facilities in respect of its “Canadian banking business” as both such terms are defined for the purposes of the Income Tax Act (Canada) or (iii) entitled to receive payments from Cognos under the Canadian Facilities without deduction or withholding of any Canadian federal income taxes.
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Eligible Canadian Lender means a financial institution that is (i) not a non-resident of Canada for the purpose of the ITA, or (ii) an "authorized foreign bank" as defined in section 2, of the Bank Act (Canada) and in subsection 248(1) of the ITA, that is not subject to the restrictions and requirements referred to in subsection 524(2) of the Bank Act (Canada) and which will receive all amounts paid or credited to it under its Canadian Revolving Loans and under the Loan Documents in respect of its "Canadian banking business" (as defined in subsection 248(1) of the ITA) for the purposes of paragraph 212(13.3)(a) of the ITA.
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Related to Eligible Canadian Lender

  • 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 Lenders means the financial institutions listed on the signature pages of the Canadian Credit Agreement and their respective successors and assigns.

  • U.S. Revolving Lender means a Lender with a U.S. Revolving Commitment or, if the U.S. Revolving Commitments have terminated or expired, a Lender with U.S. Revolving Exposure.

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • Canadian Revolving Commitment means, as to each Canadian Revolving Lender, its obligation to make Canadian Revolving Loans to the Canadian Borrower pursuant to Section 2.01, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Canadian Revolving Lender’s name on Schedule 2.01, in the Assignment and Assumption or other agreement pursuant to which such Canadian Revolving Lender becomes a party hereto, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • 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.

  • Multicurrency Lender means the Persons listed on Schedule 1.01(b) as having Multicurrency Commitments and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption that provides for it to assume a Multicurrency Commitment or to acquire Revolving Multicurrency Credit Exposure, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

  • Canadian Swingline Loan means a Swingline Loan made to the Canadian Borrower.

  • Revolving Lender means a Lender with a Revolving Commitment or, if the Revolving Commitments have terminated or expired, a Lender with Revolving Exposure.

  • New Revolving Lender as defined in Section 2.24.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • Additional Revolving Lender means any Lender with an Additional Revolving Credit Commitment or any Additional Revolving Credit Exposure.

  • Facility Lender Any lender(s) or tax equity financing party providing any Facility Debt and any successor(s) or assigns thereto, collectively.

  • Multicurrency LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Multicurrency Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Multicurrency LC Exposure of any Lender at any time shall be its Applicable Multicurrency Percentage of the total Multicurrency LC Exposure at such time.

  • New Revolving Credit Lender has the meaning specified in Section 2.14(a).

  • U.S. Lenders means the financial institutions listed on the signature pages of the U.S. Credit Agreement and their respective successors and assigns.

  • Incremental Revolving Credit Lender means a Lender with an Incremental Revolving Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class as a result of an Incremental Revolving Credit Commitment.

  • 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.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder.

  • Incremental Revolving Lender means a Lender with an Incremental Revolving Commitment.

  • Revolving Loan Lender means a Lender with a Revolving Credit Commitment or a Revolving Loan.

  • Revolving Credit Lender means, at any time, any Lender that has a Revolving Credit Commitment at such time.

  • U.S. Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of U.S. Swingline Loans hereunder.

  • U.S. Revolving Credit Exposure means, with respect to any Lender at any time, the sum of such Lender’s outstanding U.S. Revolving Loans and its U.S. L/C Exposure and U.S. Swingline Exposure at such time.