Operating Lender definition

Operating Lender means Royal in its capacity as lender under the Operating Credit Agreement;

Operating Lender means a Lender or an Affiliate thereof which has extended Operating Indebtedness to the Borrower or one of its Subsidiaries pursuant to an Operating Indebtedness Agreement.

Operating Lender means either one of them as the context requires.

Examples of Operating Lender in a sentence

• If a Borrower fails to deliver a Rollover Notice to the Agent or the relevant Operating Lender (as applicable) as provided in this Section, such Borrower shall be deemed to have given a Conversion Notice to the Agent or such Operating Lender (as applicable) electing to Convert the entire amount of the maturing SOFR Loan or XXXXX Loan into a U.S. Base Rate Loan (in the case of SOFR Loans) or a Canadian Prime Rate Loan (in the case of XXXXX Loans).

• For the purpose of determining standby fees, the Agent and the relevant Operating Lender shall determine the Outstanding Principal assuming the exchange rate for each day of any month is the Exchange Rate for conversions of United States Dollars to Canadian Dollars established by the Bank of Canada for the first day of such month.

• The Borrowers each covenant that they will not take any steps, issue any instructions to an Operating Lender, a Fronting Lender, the Agent, any Lender or any of their respective correspondents or institute any proceedings intended to derogate from the right or ability of any Operating Lender, any Fronting Lender, the Agent, any Lender or their respective correspondents to honour and pay any Letter of Credit or any Drafts.

• Subject to Section 11.2 and Article 7, each Borrower shall repay or pay, as the case may be, to the Agent, on behalf of the relevant Lenders, or to the relevant Operating Lender (as applicable) all Loans and other Obligations outstanding under each Credit Facility on or before the Maturity Date applicable thereto.

• The Agent (or, with respect to an Operating Facility, the applicable Operating Lender on behalf of the Agent) shall enter in the foregoing accounts details of all amounts from time to time owing, paid or repaid by the Borrowers hereunder.

More Definitions of Operating Lender

Operating Lender means the Lender having the Operating Facility Commitment, being Royal Bank of Canada on the date hereof.

Operating Lender means ATB in its capacity as the provider of the Operating Facility and any successor pursuant to terms hereof;

Operating Lender means The Bank of Nova Scotia, its successors and assigns in its capacity as lender under the Operating Credit.

Operating Lender means [***] or any other Lender which hereafter has an Operating Facility Commitment.

Operating Lender means, initially, RBC, or any other Lender which from time to time provides the Operating Facility to the Borrower.

Operating Lender means Royal Bank, acting in its capacity as the Lender providing an Operating Facility Commitment, and its successors and permitted assigns.

Operating Lender means, BNS in its capacity as lender under the Operating Credit Agreement.