Existing Canadian Credit Agreement definition

Existing Canadian Credit Agreement means the Amended and Restated Credit Agreement dated as of April 1, 2022, among the Initial Guarantor, the Borrower, the lenders party thereto from time to time and Royal Bank of Canada, as administrative agent, as amended, restated, supplemented or otherwise modified from time to time, including by the Second Amending Agreement to Canadian Credit Agreement.

Existing Canadian Credit Agreement has the meaning assigned to such term in the recitals to this Agreement.

Existing Canadian Credit Agreement means the Credit Agreement dated as of October 3, 2005, as amended, among the Company, AmerisourceBergen Canada Corporation, the lenders from time to time party thereto and the Bank of Nova Scotia, as administrative agent.

Examples of Existing Canadian Credit Agreement in a sentence

• The commitments of the “Lenders” under the Existing Canadian Credit Agreement are reallocated among the Lenders under this Agreement as set forth on Annex I and any “Lender” under the Existing Canadian Credit Agreement who is not a Lender hereunder is released of its commitment under the Existing Canadian Credit Agreement.

• This Agreement does not constitute a novation of the obligations and liabilities under the Existing Canadian Credit Agreement or evidence repayment of any such obligations and liabilities.

• Immediately prior to, but substantially simultaneously with, the effectiveness of this Agreement, the commitments under each of the Existing Canadian Credit Agreement and the Existing US Long-Term Revolving Credit Agreement will be terminated and any loans outstanding thereunder will be prepaid.

• The proceeds of the Canadian Loans shall be used to refinance amounts outstanding, if any, under the Existing Canadian Credit Agreement and for the general partnership purposes and day to day cash management purposes of Canadian Borrower.

• The foregoing does not constitute, and shall not be construed as, waiver by the Lenders of any compensation they might be entitled to under Section 8.04(b) of the Existing US Long-Term Revolving Credit Agreement or Section 9.04(b) of the Existing Canadian Credit Agreement, as applicable, as a result of any such prepayment.

• The proceeds of Loans shall be used by Borrowers solely to (a) refinance MRC’s Indebtedness under the Existing U.S. Credit Agreement, (b) to refinance the Initial Canadian Borrower’s Indebtedness under the Existing Canadian Credit Agreement and the ATB Financial Debt, (c) to issue Letters of Credit, (d) to finance ongoing working capital needs and (e) for other general corporate purposes of the Borrowers and their Subsidiaries, including to fund permitted distributions.

• The commitments of the lenders under the Existing Canadian Credit Agreement shall have been terminated, no extensions of credit or interest thereon shall be outstanding or other amounts be due and owing thereunder, and there shall not be outstanding any Existing Canadian Letters of Credit except for those shown on Schedule 2.25(l) hereto.

• Each of the Lenders hereby waives any notice it might be entitled to under the Existing Long-Term Revolving Credit Agreement, the Existing Canadian Credit Agreement and, in the circumstances referred to in the immediately preceding sentence, the Existing Short-Term Revolving Credit Agreement in connection with termination of commitments, and prepayment of loans and other amounts, thereunder.

• Each Borrower shall use the proceeds of the Credit Extensions for general corporate purposes not in contravention of any Law or of any Loan Document, including without limitation, the refinancing of (a) all existing indebtedness and obligations of the US Borrower under the Existing US Credit Agreement, and (b) all existing indebtedness and obligations of Canadian Borrowers under the Existing Canadian Credit Agreement.

• Implementing the Proposed Amendments to the Chrome Plating ATCM would result in the most stringent emission regulation of chrome plating facilities in the nation to date, with the goal of eliminating hexavalent chromium emissions from the chrome plating industry entirely.

More Definitions of Existing Canadian Credit Agreement

Existing Canadian Credit Agreement as defined in the recitals hereto. ----------------------------------

Existing Canadian Credit Agreement has the meaning assigned thereto in the definition of Transactions.

Existing Canadian Credit Agreement means that certain Credit Agreement, dated as of February 11, 2011, between Canadian Borrower and Canadian Lender, as amended.

Existing Canadian Credit Agreement means the Credit ---------------------------------- Agreement dated as of November 19, 1997, by and among Panolam Industries Ltd., as Borrower, the other credit parties signatory thereto, General Electric Capital Canada Inc., as a lender and as agent for the lenders thereunder, and the other entities signatory thereto as lenders, as the same may have been amended or otherwise modified to date.

Existing Canadian Credit Agreement means the Letter Loan Agreement between PHH Vehicle Management Services Inc. (formerly known as PHH Canada Inc.) and The Bank of Nova Scotia, dated August 14, 1990, as amended.

Existing Canadian Credit Agreement means the Credit ---------------------------------- Agreement dated as of November 19, 1997, by and among Panolam Industries Ltd., as Borrower, the other credit parties signatory thereto, General Electric Capital Canada Inc., as a lender and as agent for the lenders thereunder, and the other entities signatory thereto as lenders, as the same may have been amended or otherwise modified to date.