Common use of Acceptance Commitment Clause in Contracts

Acceptance Commitment. Subject to the terms and conditions set forth herein, each Canadian Lender severally agrees that the Canadian Borrowers may, at any time and from time to time during the Availability Period, 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 2.05 and in an aggregate face amount that will not result in (i) such Lender’s Canadian Exposure exceeding such Lender’s Canadian Commitment, (ii) the total Canadian Exposure exceeding the total Canadian Commitments, (iii) the sum of the total U.S. Exposure and the total Canadian Exposure exceeding the Aggregate Commitment or (iv) the total Canadian Exposure exceeding an amount that equals the Canadian Borrowing Base then in effect; provided that at all times the outstanding aggregate face amount of all Acceptances made by a Canadian Lender shall equal its Applicable Percentage of the outstanding face amount of all Acceptances made by all Canadian Lenders. 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 Lender’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 cash collateralized by the Canadian Borrowers and received by the Canadian Lender that created the same in accordance with the terms of this Agreement shall not be included.

Acceptance Commitment. Subject to the terms and conditions set forth hereinhereof, each Canadian Lender severally agrees that the Canadian Borrowers may, at any time and from time to time during the Availability Period, Borrower may issue Acceptances denominated in Canadian Dollars, in minimum denominations of Cdn.$100,000 C$100,000 or a whole multiple thereof and in minimum aggregate amounts of Cdn.$5,000,000 C$2,000,000 or any greater whole multiple of Cdn.$100,000C$100,000, each in accordance with the provisions of this Section 2.05 and in an aggregate face amount 2.04 from time to time until the Maturity Date with respect to such Canadian Lender; provided, that will not result in (i) such Lender’s Canadian Exposure exceeding such Lender’s Canadian Commitment, (iiA) the total US Dollar equivalent of the aggregate Canadian Credit Exposure exceeding shall not exceed the total aggregate Canadian Commitments, Commitments at such time and (iiiB) the aggregate Credit Exposure shall not exceed the sum of the total U.S. Exposure aggregate US Commitments and the total aggregate Canadian Exposure exceeding the Aggregate Commitment or (iv) the total Canadian Exposure exceeding an amount that equals the Canadian Borrowing Base then in effectCommitments at such time; provided provided, further, that at all times the outstanding aggregate face amount of all Acceptances made accepted by a Canadian Lender shall shall, subject to subparagrah (c)(ii) below, equal its Applicable Canadian Percentage of the outstanding face amount of all Acceptances made by all Canadian Lenders. 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 Lender’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 cash collateralized prepaid by the Canadian Borrowers Borrower and received by the Canadian Lender that created the same in accordance with the terms of this Agreement shall not be included.