Example ContractsClausesAcceptance of Bankers’ Acceptances
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Acceptance of BankersAcceptances. Each BankersAcceptance to be accepted by a Canadian Lender shall be accepted at such Canadian Lender’s office designated by said Canadian Lender in its Administrative Questionnaire from time to time.

Refunding BankersAcceptances. With respect to each BankersAcceptance, the Canadian Borrowers, except during the occurrence and continuation of an Event of Default, may give irrevocable telephone or written notice (or such other method of notification as may be agreed upon between the Canadian Agent and the Canadian Borrowers) to the Canadian Agent at or before (Toronto time) within one (1) Business Day of such maturity date of such BankersAcceptance of any Canadian Borrower’s intention to issue one or more BankersAcceptances on such maturity date (each a “Refunding BankersAcceptance”) to provide for the payment of such maturing BankersAcceptance (it being understood that payments by the Canadian Borrowers and fundings by the Canadian Lenders in respect of each maturing BankersAcceptance and each related Refunding BankersAcceptance shall be made on a net basis reflecting the difference between the face amount of such maturing BankersAcceptance and the BA Discount Proceeds (net of the applicable Acceptance Fee) of such Refunding BankersAcceptance). Any funding on account of any maturing BankersAcceptance must be made at or before (Toronto time) on the maturity date of such BankersAcceptance. If the Canadian Borrowers fail to give such notice, the Canadian Borrowers shall be irrevocably deemed to have requested and to have been advanced a Canadian Revolving Loan bearing interest at the Canadian Prime Rate in the face amount of such maturing BankersAcceptance on the maturity date of such maturing BankersAcceptance from the Canadian Lender which accepted such maturing BankersAcceptance, which Loan shall thereafter bear interest as such in accordance with the provisions hereof and otherwise shall be subject to all provisions of this Agreement applicable to Canadian Revolving Loans until paid in full. Notwithstanding anything to the contrary contained herein, the Canadian Borrowers shall not prepay the Outstanding Amount of any BankersAcceptance, as a whole or in part, at any time.

Not Bankers Acceptances. Nothing contained herein, shall be deemed to or shall cause a Letter of Credit issued hereunder or an unreimbursed draw thereunder to be or become a bankers acceptance.

BankersAcceptances in Blank. To facilitate the acceptance of BankersAcceptances under this Agreement, the Canadian Borrowers shall, upon execution of this Agreement and from time to time as required, provide to the Canadian Agent bills of exchange or depository bills, in form satisfactory to the Canadian Agent, duly executed and endorsed in blank by the Canadian Borrowers in quantities sufficient for each Canadian Lender to fulfill its obligations hereunder. In addition, the Canadian Borrowers hereby appoint each Canadian Lender as its attorney to sign and endorse on its behalf, in handwriting or by facsimile or mechanical signature as and when deemed necessary by such Canadian Lender, blank forms of BankersAcceptances. The Canadian Borrowers recognize and agree that all BankersAcceptances signed and/or endorsed on its behalf by a Canadian Lender shall bind the Canadian Borrowers as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Canadian Borrowers. Each Canadian Lender is hereby authorized to issue such BankersAcceptances endorsed in blank in such face amounts as may be determined by such Canadian Lender; provided, that, the aggregate amount thereof is equal to the aggregate amount of BankersAcceptances required to be accepted and purchased by such Canadian Lender pursuant to [Section 2.19(a)(iv)]. No Canadian Lender shall be responsible or liable for its failure to accept a BankersAcceptance if the cause of such failure is, in whole or in part, due to the failure of the Canadian Borrowers to provide duly executed and endorsed bills of exchange or depository bills to the Canadian Agent on a timely basis nor shall any Canadian Lender or the Canadian Agent be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except loss or improper use arising by reason of the gross negligence or willful misconduct of such Canadian Lender or the Canadian Agent, its officers, employees, agents or representatives. Each Canadian Lender shall maintain a record with respect to BankersAcceptances # received by it from the Canadian Agent in blank hereunder, # voided by it for any reason, # accepted by it hereunder, # purchased by it hereunder, and # cancelled at their respective maturities. Each Canadian Lender further agrees to retain such records in the manner and for the statutory periods provided in the various Canadian provincial or federal statutes and regulations which apply to such Canadian Lender.

Issuance of BankersAcceptances. Promptly following receipt of a BankersAcceptance Notice, the Canadian Agent shall so advise the Canadian Lender of the face amount of each BankersAcceptance to be accepted by it and the term thereof. The aggregate face amount of BankersAcceptances to be accepted by a Canadian Lender shall be determined by the Canadian Agent by reference to the respective Canadian Commitments of the Canadian Lenders, except that, if the face amount of a BankersAcceptance, which would otherwise be accepted by a Canadian Lender, would not be or an integral multiple thereof, such face amount shall be increased or reduced by the Canadian Agent in its sole and absolute discretion to the nearest integral multiple of .

Purchase of BankersAcceptances. On the relevant date of borrowing, each Canadian Lender severally agrees to purchase from the Canadian Borrowers, at the face amount thereof discounted by the Applicable BA Discount Rate, any BankersAcceptance accepted by it and provide to the Canadian Agent, for the account of the Canadian Borrowers, the BA Discount Proceeds in respect thereof after deducting therefrom the amount of the applicable Acceptance Fee.

Sale of BankersAcceptances. Each Canadian Lender may at any time and from time to time hold, sell, rediscount or otherwise dispose of any or all BankersAcceptances accepted and purchased by it.

Section # BankersAcceptances 9376

Depository Bills. All BankersAcceptances accepted by any Canadian Lender issued in the form of a depository bill (as defined in the Depository Bills and Notes Act (Canada) (“DBNA”)) shall be deposited with the Canadian Depository for Securities and shall be made payable to CDS & Co. In order to give effect to the foregoing, the Canadian Agent may, acting reasonably, establish and notify the Canadian Borrowers and the other Canadian Lender of any additional procedures, consistent with the terms of this Agreement and the requirements, of the DBNA, as are reasonably necessary to accomplish the parties intention, including, without limitation: # inserting a phrase in the drafts held by the Canadian Agent to the effect that the BankersAcceptance is issued pursuant to the DBNA; # removing any reference to authentication of a BankersAcceptance; and # removing any reference to the bearer of the depository bill.

every reimbursement obligation of such Person with respect to letters of credit, bankersacceptances or similar facilities issued for the account of such Person,

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