Conversion from Bankers’ Acceptances. In order to satisfy the continuing liability of a Canadian Borrower to the Lenders for an amount equal to the aggregate face amount of the maturing Bankers’ Acceptances converted to another type of Loan, the Agent shall record the obligation of the Canadian Borrower to the Lenders as a Loan of the type into which such continuing liability has been converted.
Appears in 2 contracts
Sources: Credit Agreement (Baytex Energy Corp.), Credit Facilities (Baytex Energy Corp.)
Conversion from Bankers’ Acceptances. In order to satisfy the continuing liability of a the Canadian Borrower to the Lenders for an amount equal to the aggregate face amount of the maturing Bankers’ ' Acceptances converted to another type of Loan, the Agent shall record the obligation of the Canadian Borrower to the Lenders as a Loan of the type into which such continuing liability has been converted.
Appears in 2 contracts
Sources: Credit Agreement (Baytex Energy Corp.), Credit Agreement (Baytex Energy Corp.)
Conversion from Bankers’ Acceptances. In order to satisfy the continuing liability of a the Canadian Borrower to the applicable Lenders for an amount equal to the aggregate face amount of the maturing Bankers’ Acceptances converted to another type of Loan, the Agent or the Canadian Operating Facility Lender, as applicable, shall record the obligation of the Canadian Borrower to the applicable Lenders as a Loan of the type into which such continuing liability has been converted.
Appears in 1 contract
Sources: Credit Agreement (Enerflex Ltd.)