Common use of Acceptance Commitment Clause in Contracts

Acceptance Commitment. Subject to the terms and conditions hereof, each Canadian Bank severally agrees, that A&P Canada may issue Acceptances denominated in Canadian Dollars, in minimum denominations of Cdn.$100,000 or a whole multiple thereof and in minimum aggregate amounts of Cdn.$5,000,000 or any greater whole multiple of Cdn.$100,000, each in accordance with the provisions of this Section 2.21 from time to time until the Termination Date in an aggregate face amount at any one time outstanding not to exceed such Canadian Bank's Canadian Commitment less the aggregate principal amount of Canadian Loans made by such Bank then outstanding; provided, however, that after giving effect to all Acceptances requested to be created by a Notice of Drawing, (i) the Total Canadian Exposure (expressed in Canadian Dollars) shall not exceed the Total Canadian Commitment, (ii) the sum of the Total U.S. Exposure plus the Total Canadian Exposure (expressed in U.S. Dollars) shall not exceed U.S.$500,000,000 and (iii)) at all times the outstanding aggregate face amount of all Acceptances made by a Canadian Bank shall equal its Pro Rata Percentage of the outstanding aggregate face amount of all Acceptances made by all Canadian Banks. For purposes of this Agreement, the full face value of an Acceptance, without discount, shall be used when calculations are made to determine the outstanding amount of a Canadian Bank's Acceptances; provided that in computing the face amount of Acceptances outstanding, the face amount of an Acceptance in respect of which the Acceptance Obligation has been prepaid by A&P Canada and received by the Canadian Bank that created the same in accordance with the terms of this Agreement shall not be included.

Acceptance Commitment. Subject to the terms and conditions hereof, each Canadian Bank Lender severally agrees, agrees that A&P Canada the Canadian Borrower may issue Acceptances denominated in Canadian Dollars, in minimum denominations of Cdn.$100,000 or a whole multiple thereof and in minimum aggregate amounts of Cdn.$5,000,000 or any greater whole multiple of Cdn.$100,000, each in accordance with the provisions of this Section 2.21 2.04 from time to time until the Termination Maturity Date with respect to such Canadian Lender in an aggregate face amount at any one time outstanding that will not to exceed such Canadian Bank's Canadian Commitment less the aggregate principal amount of Canadian Loans made by such Bank then outstanding; provided, however, that after giving effect to all Acceptances requested to be created by a Notice of Drawing, result in (i) the Total such Lender's Canadian Exposure (expressed in Canadian Dollars) shall not exceed the Total exceeding such Lender's Canadian Commitment, (ii) the total Canadian Exposure exceeding the total Canadian Commitments, (iii) the sum of the Total total U.S. Exposure and the total Canadian Exposure exceeding U.S.$400,000,000 or (iv) the total Canadian Exposure exceeding the Canadian Borrowing Base then in effect plus the Total Canadian Exposure excess, if any, of (expressed A) the U.S. Borrowing Base then in effect minus (B) the total U.S. Dollars) shall not exceed U.S.$500,000,000 and (iii)) Exposure; provided that at all times the outstanding aggregate face amount of all Acceptances made by a Canadian Bank Lender shall equal its Pro Rata Applicable Percentage of the outstanding aggregate face amount of all Acceptances made by all Canadian BanksLenders. For purposes of this Agreement, the full face value of an Acceptance, without discount, shall be used when calculations are made to determine the outstanding amount of a Canadian BankLender's Acceptances; provided that in computing the face amount of Acceptances outstanding, the face amount of an Acceptance in respect of which the Acceptance Obligation has been prepaid by A&P Canada the Canadian Borrower and received by the Canadian Bank Lender that created the same in accordance with the terms of this Agreement shall not be included.