Common use of Acceptance Commitment Clause in Contracts

Acceptance Commitment. In addition to requesting Canadian Loans pursuant to subsection 2.1A(ii), Canada Safeway may request pursuant to this Section 4, from time to time during the period from the Closing Date to but excluding the Termination Date, that, under the Canadian Commitments, Canadian Lenders create bankers’ acceptances (each, an “Acceptance”) by accepting Drafts from Canada Safeway in an aggregate amount not exceeding each such Canadian Lender’s Canadian Pro Rata Share of the aggregate amount of the Canadian Commitments to be used for the purposes identified in subsection 4.11; provided that Canada Safeway shall not request the creation and purchase of any Acceptance if, after giving effect thereto, the Total Utilization of Canadian Commitments would exceed the Canadian Commitments then in effect, and no Canadian Lender shall have any obligation to create and purchase any Acceptance if, after giving effect thereto, the Total Utilization of Canadian Commitments of such Canadian Lender would exceed its Canadian Commitment. Each Drawing shall be in an aggregate Face Amount of not less than Cdn.$10,000,000 and in integral multiples of Cdn.$100,000 and shall consist of the creation and purchase of Acceptances by Canadian Lenders on the same day in accordance with subsection 4.4, ratably in accordance with their respective Canadian Pro Rata Shares; provided that if apportionment of Acceptances among the Canadian Lenders cannot be made on a pro rata basis in even multiples of Cdn.$100,000, Canadian Administrative Agent shall round the allocations among Canadian Lenders consistent with Canadian Administrative Agent’s money market practices.

Appears in 1 contract

Sources: Credit Agreement (Safeway Inc)

Acceptance Commitment. In addition to requesting Tranche A Canadian Loans pursuant to subsection 2.1A(ii) and Tranche B Canadian Loans pursuant to subsection 2.1A(iv), Canada Safeway may request pursuant to this Section 4, from time to time during the period from the Closing Date to but excluding the Tranche A Termination Date, that, (i) under the Tranche A Canadian CommitmentsFacility, Canadian Lenders create bankers' acceptances (each, an “Acceptance”a "TRANCHE A ACCEPTANCE") by accepting Drafts from Canada Safeway in an aggregate amount not exceeding each such Canadian Lender’s 's Tranche A Canadian Pro Rata Share of the aggregate amount of the Tranche A Canadian Commitments or (ii) under the Tranche B Canadian Facility, Canadian Lenders create bankers' acceptances (each, a "TRANCHE B ACCEPTANCE" and together with the Tranche A Acceptances, the "ACCEPTANCES") by accepting Drafts from Canada Safeway in an aggregate amount not exceeding each such Canadian Lender's Tranche B Canadian Pro Rata Share of the aggregate amount of the Tranche B Canadian Commitments, in each case, to be used for the purposes identified in subsection 4.11; provided that Canada Safeway shall not request the creation and purchase of any Acceptance if, after giving effect thereto, the Total Utilization of Canadian Commitments would exceed the Canadian Commitments then in effect, and no Canadian Lender shall have any obligation to create and purchase any Acceptance if, after giving effect thereto, the Total Utilization of Canadian Commitments of such Canadian Lender would exceed its Canadian Commitment. Each Drawing shall be in an aggregate Face Amount of not less than Cdn.$10,000,000 and in integral multiples of Cdn.$100,000 and shall consist of the creation and purchase of Acceptances by Canadian Lenders on the same day in accordance with subsection 4.4, ratably in accordance with their respective Canadian Pro Rata Shares; provided that if apportionment of Acceptances among the Canadian Lenders cannot be made on a pro rata basis in even multiples of Cdn.$100,000, Canadian Administrative Agent shall round the allocations among Canadian Lenders consistent with Canadian Administrative Agent’s money market practices.;

Appears in 1 contract

Sources: Credit Agreement (Safeway Inc)

Acceptance Commitment. In addition to requesting Canadian Loans pursuant to subsection 2.1A(ii), Canada Safeway may request pursuant to this Section 4, from time to time during the period from the Closing Date to but excluding the Termination Date, that, under the Canadian Commitments, Canadian Lenders create bankers’ acceptances (each, an “Acceptance”) by accepting Drafts from Canada Safeway in an aggregate amount not exceeding each such Canadian Lender’s Canadian Pro Rata Share of the aggregate amount of the Canadian Commitments to be used for the purposes identified in subsection 4.11; provided that Canada Safeway shall not request the creation and purchase of any Acceptance if, after giving effect thereto, the Total Utilization of Canadian Commitments would exceed the Canadian Commitments then in effect, and no Canadian Lender shall have any obligation to create and purchase any Acceptance if, after giving effect thereto, the Total Utilization of Canadian Commitments of such Canadian Lender would exceed its Canadian Commitment. Each Drawing shall be in an aggregate Face Amount of not less than Cdn.$10,000,000 and in integral multiples of Cdn.$100,000 and shall consist of the creation and purchase of Acceptances by Canadian Lenders on the same day in accordance with subsection 4.4, ratably in accordance with their respective Canadian Pro Rata Shares; provided that if apportionment of Acceptances among the Canadian Lenders cannot be made on a pro rata basis in even multiples of Cdn.$100,000, Canadian Administrative Agent shall round the allocations among Canadian Lenders consistent with Canadian Administrative Agent’s money market practices.

Appears in 1 contract

Sources: Credit Agreement (Safeway Inc)