Common use of Deemed Conversions on the Maturity Date Clause in Contracts

Deemed Conversions on the Maturity Date. If the Canadian Borrowers do not deliver to the Canadian Funding Agent one or more of the notices contemplated by Section 3.4(e) or make the deposit contemplated by Section 3.4(e)(iii), the Canadian Borrowers shall be deemed to have requested that the part of the Loan consisting of Bankers’ Acceptances then maturing be converted into a Canadian Prime Loan in an amount equal to the face amount of the maturing Bankers’ Acceptances.

Deemed Conversions on the Maturity Date. If the Canadian Borrowers do not deliver to the Canadian Funding Agent one or more of the notices contemplated by Section 3.4(e) or make the deposit contemplated by Section 3.4(e)(iii), the Canadian Borrowers shall be deemed to have requested that the part of the Loan consisting of Bankers’ Acceptances then maturing be converted into a Canadian Prime Rate Loan in an amount equal to the face amount of the maturing Bankers’ Acceptances.

Deemed Conversions on the Maturity Date. If the Canadian Borrowers do Borrower does not deliver to the Canadian Funding Agent one or more of the notices contemplated by Section 3.4(e) 3.4 or does not give the notice and make the deposit contemplated by Section 3.4(e)(iii), the Canadian Borrowers Borrower shall be deemed to have requested that the part of the Loan consisting of Bankers’ Acceptances BA Advance then maturing outstanding which is reaching maturity be converted into a Canadian Base Rate Advance on the Canadian Prime Loan in an amount equal to the face amount of the maturing Bankers’ AcceptancesRate basis.