Common use of Conversion into Bankers’ Acceptances Clause in Contracts

Conversion into Bankers’ Acceptances. In respect of Conversions into Bankers’ Acceptances, in order to satisfy the continuing liability of a Canadian Borrower to the Lenders for the amount of the converted Loan, each Lender shall receive and retain for its own account the Discount Proceeds of the Bankers’ Acceptances issued upon such Conversion, and the Canadian Borrower shall on the Conversion Date pay to the Agent for the account of the Lenders an amount equal to the difference between the principal amount of the converted Loan and the aggregate Discount Proceeds from the Bankers’ Acceptances issued on such Conversion, together with the acceptance fees to which the relevant Lenders are entitled pursuant to Section 6.2.

Conversion into Bankers’ Acceptances. In respect of Conversions into Bankers’ ' Acceptances, in order to satisfy the continuing liability of a the Canadian Borrower to the Lenders for the amount of the converted Loan, each Lender shall receive and retain for its own account the Discount Proceeds of the Bankers’ ' Acceptances issued upon such Conversion, and the Canadian Borrower shall on the Conversion Date pay to the Agent for the account of the Lenders an amount equal to the difference between the principal amount of the converted Loan and the aggregate Discount Proceeds from the Bankers’ ' Acceptances issued on such Conversion, together with the acceptance fees to which the relevant Lenders are entitled pursuant to Section 6.2.

Conversion into Bankers’ Acceptances. In respect of Conversions into Bankers’ ' Acceptances, in order to satisfy the continuing liability of a Canadian the Borrower to the Lenders for the amount of the converted Canadian Prime Rate Loan, each Lender shall will receive and retain for its own account the Discount Proceeds of the Bankers’ ' Acceptances issued upon such Conversion, and the Canadian Borrower shall will on the Conversion Date pay to the Administrative Agent for the account of the Lenders an amount equal to the difference between the principal amount of the converted Loan and the aggregate Discount Proceeds from the Bankers’ ' Acceptances issued on such Conversion, together with the acceptance fees to which the relevant Lenders are entitled pursuant to Section 6.27.3.

Conversion into Bankers’ Acceptances. In respect of Conversions into Bankers’ Acceptances, in order to satisfy the continuing liability of a Canadian Borrower Nexen to the Canadian Facility Lenders for the amount of the converted Loan, each Canadian Facility Lender shall receive and retain for its own account the Discount Proceeds of the Bankers’ Acceptances issued upon such Conversion, and the Canadian Borrower Nexen shall on the Conversion Date pay to the Canadian Agent for the account of the Canadian Facility Lenders an amount equal to the difference between the principal amount of the converted Loan and the aggregate Discount Proceeds from the Bankers’ Acceptances issued on such Conversion, together with the acceptance fees to which the relevant Canadian Facility Lenders are entitled pursuant to Section 6.2.

Conversion into Bankers’ Acceptances. In respect of Conversions into Bankers’ ' Acceptances, in order to satisfy the continuing liability of a the Canadian Borrower to the Lenders for the amount of the converted Loan, each Lender shall receive and retain for its own account the Discount Proceeds of the Bankers’ ' Acceptances issued upon such Conversion, and the Canadian Borrower shall on the Conversion Date pay to the Agent for the account of the Lenders an amount equal to the difference between the principal amount of the converted Loan and the aggregate Discount Proceeds from the Bankers’ ' Acceptances issued on such Conversion, together with the acceptance fees to which the relevant Lenders are entitled pursuant to Section 6.2.. 31150487.8