Common use of Canadian Commitments Clause in Contracts

Canadian Commitments. The Canadian Borrower shall have the right at any time after the Closing Date upon five (5) days’ prior written notice to the Administrative Agent to permanently reduce (ratably among the Canadian Lenders in proportion to their Ratable Shares) the Canadian Commitments, in whole multiples of CD$5,000,000, or to terminate completely the Canadian Commitments, without penalty or premium except as hereinafter set forth; provided that any such reduction or termination shall be accompanied by prepayment of the Loans, together with outstanding Commitment Fees, the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 4.10 [Indemnity] hereof) to the extent necessary to cause the aggregate Revolving Facility Usage of the Canadian Borrower after giving effect to such prepayments to be equal to or less than the Canadian Commitments as so reduced or terminated. Any notice to reduce or terminate the Canadian Commitments under this Section 2.11 shall be irrevocable.

Canadian Commitments. The Canadian Borrower shall have the right at any time after the Closing Date upon five (5) days’ ' prior written notice to the Administrative Agent to permanently reduce (ratably among the Canadian Lenders in proportion to their Ratable Shares) the Canadian Commitments, in whole multiples of CD$5,000,000, or to terminate completely the Canadian Commitments, without penalty or premium except as hereinafter set forth; provided that any such reduction or termination shall be accompanied by prepayment of the Loans, together with outstanding Commitment Fees, the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 4.10 [Indemnity] hereof) to the extent necessary to cause the aggregate Revolving Facility Usage of the Canadian Borrower after giving effect to such prepayments to be equal to or less than the Canadian Commitments as so reduced or terminated. Any notice to reduce or terminate the Canadian Commitments under this Section 2.11 shall be irrevocable.