Common use of Availability and Purpose Clause in Contracts

Availability and Purpose. The Credit Facility shall, subject to this Agreement, be available by way of multiple Drawdowns on and after the Effective Date on a revolving basis prior to the Maturity Date, and the Borrower may borrow, repay and reborrow Cdn. Dollars or US Dollars, may issue, repay and re-issue Bankers’ Acceptances or BA Equivalent Advances and may obtain, cancel and re-obtain Letters of Credit thereunder, provided that each Drawdown shall be used for general corporate purposes of the Obligors.

Availability and Purpose. The Credit Facility shall, subject to this Agreement, be available by way of multiple Drawdowns on and after the Effective Date on a revolving basis prior to the Maturity Date, and the Borrower may borrow, repay and reborrow Cdn. Dollars or US Dollars, may issue, repay and re-issue Bankers’ Acceptances or BA Equivalent Advances and may obtain, cancel and re-obtain Letters of Credit thereunder, provided that each Drawdown shall be used for general corporate purposes of the ObligorsBorrower Group Members.