Canadian Revolving Loan Commitment Sample Clauses
The Canadian Revolving Loan Commitment clause defines the lender's obligation to provide a borrower with access to a revolving line of credit up to a specified maximum amount, specifically for loans denominated in Canadian dollars. This clause typically outlines the terms under which the borrower can draw, repay, and re-borrow funds, subject to ongoing compliance with the agreement's conditions. Its core practical function is to ensure the borrower has flexible, ongoing access to funds for operational needs, while clearly establishing the lender's maximum exposure and the rules governing such borrowing.
Canadian Revolving Loan Commitment. Upon at least two (2) Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) by any Canadian Revolving Borrower to the Administrative Agent at the applicable Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), any Canadian Revolving Borrower shall have the right, without premium or penalty, to terminate the Total Unutilized Canadian Revolving Loan Commitment, in whole or, if in part, in integral multiples of C$1,000,000, provided that each such reduction shall apply proportionately to permanently reduce the Canadian Revolving Loan Commitment of each Canadian Revolving Lender. A notice of termination of the Total Unutilized Canadian Revolving Loan Commitment pursuant to this Section 4.02(a), delivered by a Canadian Revolving Borrower contemporaneously with a notice of prepayment of all outstanding Canadian Revolving Loans pursuant to Section 5.01(a), may state that such notice is conditioned upon the effectiveness of other credit facilities the proceeds of which will be used to refinance in full this Agreement, in which case such notice may be revoked by such Canadian Revolving Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied; provided, however, any such revocation shall not affect any Canadian Revolving Borrower’s obligations pursuant to Section 2.11.
Canadian Revolving Loan Commitment. Subject to the terms and conditions set forth herein, each Canadian Lender severally agrees to make revolving loans (each a "Canadian Revolving Loan" and collectively the "Canadian Revolving Loans") to the Canadian Borrower, in Canadian Dollars, at any time and from time to time, during the period from and including the Effective Date to but not including the Maturity Date (or such earlier date on which the Canadian Revolving Committed Amount has been terminated as provided herein); provided, however, that (i) the sum of the aggregate amount of Canadian Revolving Loans outstanding plus the aggregate amount of Canadian LOC Obligations outstanding plus the aggregate amount of Canadian Swingline Loans outstanding plus the aggregate Face Amount of Bankers' Acceptances shall not exceed the Canadian Revolving Committed Amount and (ii) with respect to each individual Canadian Lender (other than the Canadian Swingline Lender in its capacity as such), such Lender's pro rata share of outstanding Canadian Revolving Loans plus such Lender's pro rata share of outstanding Canadian LOC Obligations plus such Lender's pro rata share of outstanding Canadian Swingline Loans plus such Lender's pro rata share of the Face Amount of Bankers' Acceptances shall not exceed such Lender's Canadian Revolving Loan Commitment Percentage of the Canadian Revolving Committed Amount. Subject to the terms of this Credit Agreement (including Section 6.2), the Canadian Borrower may borrow, repay and reborrow Canadian Revolving Loans.
Canadian Revolving Loan Commitment. Subject to the terms and conditions set forth herein, each Canadian Lender agrees, severally and not jointly, at any time and from time to time from the Effective Date to the Revolving Loans Maturity Date, to make revolving loans (each a "Canadian Revolving Loan" and collectively, the "Canadian Revolving Loans") to the Canadian Borrower in Canadian dollars or U.S. Dollars and to the U.S. Borrower in U.S. dollars; provided, however, that (i) the aggregate amount of Canadian Revolving Loans outstanding plus BA Revolving Obligations outstanding plus Canadian LOC Obligations outstanding at any one time may not exceed the Canadian Revolving Loan Commitment; (ii) the aggregate amount of U.S. Revolving Loans outstanding plus Canadian Revolving Loans outstanding plus LOC Obligations outstanding plus BA Revolving Obligations outstanding plus Swing Line Loans outstanding may not exceed $225,000,000 (U.S.); and (iii) with regard to each individual Canadian Lender, the Canadian Lender's pro rata share of Canadian Revolving Loans outstanding plus BA Revolving Obligations outstanding plus Canadian LOC Obligations outstanding shall not exceed such Canadian Lender's Canadian Revolving Loan Commitment Percentage of the Canadian Revolving Loan Commitment. Canadian Revolving Loans shall consist of
Canadian Revolving Loan Commitment. As to each Canadian Lender, its obligation to make a Canadian Revolving Loan to the Canadian Borrower pursuant to §2.1 in an aggregate principal amount at any one time outstanding not to exceed the Dollar amount set forth opposite such Canadian Lender’s name on Schedule II hereto, as such Schedule may be updated from time to time pursuant to §§2.10(c) or 20, or in the Assignment and Assumption pursuant to which a Canadian Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Credit Agreement.