Common use of Apportionment Amongst the Lenders Clause in Contracts

Apportionment Amongst the Lenders. In relation to each BA Advance, the Agent is authorized by the Borrower and each Lender to allocate between the Lenders the Bankers’ Acceptances to be issued by the Borrower and accepted and purchased by the Lenders, in such manner and amounts as the Agent may, in its sole discretion, consider necessary, so as to ensure that no Lender is required to accept and purchase a Bankers’ Acceptance for a fraction of C$100,000. In the event of any such allocation by the Agent, the Lenders’ respective Commitments in any such Bankers’ Acceptances and repayments thereof shall be adjusted accordingly. Further, the Agent is authorized by the Borrower and each Lender to cause the Applicable Percentage of one or more Lender’s Advances with respect to Bankers’ Acceptances to be exceeded by no more than C$100,000 each as a result of such allocations, provided that the principal amount of all outstanding Advances of each Lender shall not thereby exceed the maximum amount of the respective Commitment of each Lender. Any resulting amount by which the requested face amount of any such Bankers’ Acceptance shall have been so reduced shall be advanced, converted or continued, as the case may be, as a Prime Rate Advance, to be made contemporaneously with the BA Advance.

Appears in 5 contracts

Samples: Agreement (Agnico Eagle Mines LTD), Assignment and Assumption (Agnico Eagle Mines LTD), Credit Agreement (Agnico Eagle Mines LTD)

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Apportionment Amongst the Lenders. In relation to each BA Advance, the The Agent is authorized by the Borrower and each Lender to allocate between amongst the Lenders the Bankers’ Acceptances to be issued by the Borrower and accepted and purchased by the Lenders, in such manner and amounts as the Agent may, in its sole discretion, but acting reasonably, consider necessary, so as to ensure that no Lender is required to accept and purchase a Bankers’ Acceptance for a fraction of C$$100,000. In the event of any , and in such allocation by the Agentevent, the Lenders’ respective Commitments in any such Bankers’ Acceptances and repayments thereof shall be adjusted altered accordingly. Further, the Agent is authorized by the Borrower and each Lender to cause the Applicable Percentage proportionate share of one or more Lender’s Advances with respect to Bankers’ Acceptances (calculated based on its Commitment) to be exceeded by no more than C$$100,000 each as a result of such allocations, allocations provided that the principal amount of all outstanding Advances of each Lender Advances, including Bankers’ Acceptances, shall not thereby exceed the maximum amount of the respective Commitment of each Lender. Any resulting amount by which the requested face amount of any such Bankers’ Acceptance shall have been so reduced shall be advanced, converted or continued, as the case may be, as a Prime Rate Advance, to be made contemporaneously with the BA Advance.

Appears in 3 contracts

Samples: Credit Agreement (Videotron Ltee), Credit Agreement (Quebecor Media Inc), Credit Agreement (Videotron Ltee)

Apportionment Amongst the Lenders. In relation to each BA Advance, the The Agent is authorized by the Borrower and each Lender to allocate between amongst the Lenders (other than Foreign Lenders who cannot make BA Advances) the Bankers' Acceptances to be issued by the Borrower and accepted and purchased by the Lenders, in such manner and amounts as the Agent may, in its sole discretion, but acting reasonably, consider necessary, so as to ensure that no Lender is required to accept and purchase a Bankers' Acceptance for a fraction of C$$100,000. In the event of any , and in such allocation by the Agentevent, the Lenders' respective Commitments in any such Bankers' Acceptances and repayments thereof shall be adjusted altered accordingly. Further, the Agent is authorized by the Borrower and each Lender to cause the Applicable Percentage proportionate share of one or more Lender’s 's Advances with respect to Bankers’ Acceptances (calculated based on its Commitment) to be exceeded by no more than C$$100,000 each as a result of such allocations, allocations provided that the principal amount of all outstanding Advances of each Lender Advances, including Bankers' Acceptances, shall not thereby exceed the maximum amount of the respective Commitment of each Lender. Any resulting amount by which the requested face amount of any such Bankers' Acceptance shall have been so reduced shall be advanced, converted or continued, as the case may be, as a Prime Rate Advance, to be made contemporaneously with the BA Advance.

Appears in 2 contracts

Samples: Credit Agreement (Videotron Ltee), Credit Agreement (Videotron 1998 Ltee)

Apportionment Amongst the Lenders. In relation to each BA Advance, the The Agent is authorized by the Borrower and each Lender to allocate between amongst the Lenders (other than Foreign Lenders who cannot make BA Advances) the Bankers’ Acceptances to be issued by the Borrower and accepted and purchased by the Lenders, in such manner and amounts as the Agent may, in its sole discretion, but acting reasonably, consider necessary, so as to ensure that no Lender is required to accept and purchase a Bankers’ Acceptance for a fraction of C$$100,000. In the event of any , and in such allocation by the Agentevent, the Lenders’ respective Commitments in any such Bankers’ Acceptances and repayments thereof shall be adjusted altered accordingly. Further, the Agent is authorized by the Borrower and each Lender to cause the Applicable Percentage proportionate share of one or more Lender’s Advances with respect to Bankers’ Acceptances (calculated based on its Commitment) to be exceeded by no more than C$$100,000 each as a result of such allocations, allocations provided that the principal amount of all outstanding Advances of each Lender Advances, including Bankers’ Acceptances, shall not thereby exceed the maximum amount of the respective Commitment of each Lender. Any resulting amount by which the requested face amount of any such Bankers’ Acceptance shall have been so reduced shall be advanced, converted or continued, as the case may be, as a Prime Rate Advance, to be made contemporaneously with the BA Advance.

Appears in 2 contracts

Samples: Credit Agreement (Videotron Ltee), Credit Agreement (Videotron Ltee)

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Apportionment Amongst the Lenders. In relation to each BA Advance, the The Agent is authorized by the Borrower and each Lender to allocate between amongst the Lenders the Bankers' Acceptances to be issued by the Borrower and accepted and purchased by the Lenders, in such manner and amounts as the Agent may, in its sole discretion, but acting reasonably, consider necessary, so as to ensure that no Lender is required to accept and purchase a Bankers' Acceptance for a fraction of C$$100,000. In the event of any , and in such allocation by the Agentevent, the Lenders' respective Commitments in any such Bankers' Acceptances and repayments thereof shall be adjusted altered accordingly. Further, the Agent is authorized by the Borrower and each Lender to cause the Applicable Percentage proportionate share of one or more Lender’s 's Advances with respect to Bankers’ Acceptances (calculated based on its Commitment) to be exceeded by no more than C$$100,000 each as a result of such allocations, allocations provided that the principal amount of all outstanding Advances of each Lender Advances, including Bankers' Acceptances, shall not thereby exceed the maximum amount of the respective Commitment of each Lender. Any resulting amount by which the requested face amount of any such Bankers' Acceptance shall have been so reduced shall be advanced, converted or continued, as the case may be, as a Prime Rate Advance, to be made contemporaneously with the BA Advance.

Appears in 1 contract

Samples: Credit Agreement (Cgi Group Inc)

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