Common use of Canadian Commitment Clause in Contracts

Canadian Commitment. Each Canadian Facility Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Canadian Advances to the Canadian Borrower in the requested Designated Currency from time to time on any Business Day during the period from the Closing Date until the Maturity Date; provided that after giving effect to such Canadian Advances, (i) the Canadian Outstandings shall not exceed the aggregate Canadian Commitments in effect at such time and (ii) such Canadian Advances shall be denominated and funded in the applicable Designated Currency. Each Canadian Borrowing shall (A) if comprised of Canadian (Cdn) Base Rate Advances be in an aggregate amount not less than C$500,000 and in integral multiples of C$100,000 in excess thereof (or the remaining amount of the Canadian Commitments, if less), (B) if comprised of Canadian (US) Base Rate Advances be in an aggregate amount not less than $500,000 and in integral multiples of $100,000 in excess thereof (or the remaining amount of the Canadian Commitments, if less), (C) if comprised of B/A Advances be in such minimum amounts as required under Section 2.18, (D) if comprised of Eurocurrency Advances be in an aggregate amount not less than $1,000,000 and in integral multiples of $500,000 in excess thereof (or the remaining amount of the Canadian Commitments, if less), and (E) consist of Canadian Advances of the same Type made on the same day by the Canadian Facility Lenders ratably according to their respective Canadian Commitments. Within the limits of each Lender’s Canadian Commitment, the Canadian Borrower may from time to time borrow, prepay pursuant to Section 2.5, and reborrow under this Section 2.1(b).