Common use of Execution of Bankers’ Acceptances Clause in Contracts

Execution of Bankers’ Acceptances. Drafts of the Canadian Borrower to be accepted as Bankers' Acceptances hereunder shall be duly executed on behalf of the Canadian Borrower. Notwithstanding that any person whose signature appears on any Bankers' Acceptance as a signatory for the Canadian Borrower may no longer be an authorized signatory for the Canadian Borrower at the date of issuance of a Bankers' Acceptance, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance, and any such Bankers' Acceptance so signed shall be binding on the Canadian Borrower.

Appears in 6 contracts

Samples: Credit Agreement (Iron Mountain Inc/Pa), Credit Agreement (Outdoor Systems Inc), Credit Agreement (Jostens Inc)

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Execution of Bankers’ Acceptances. Drafts of the Canadian Borrower Subsidiary Borrowers to be accepted as Bankers' Acceptances hereunder shall be duly executed on behalf of the Canadian Subsidiary Borrower. Notwithstanding that any person whose signature appears on any Bankers' Acceptance as a signatory for the Canadian Borrower Subsidiary Borrowers may no longer be an authorized signatory for the Canadian Borrower Subsidiary Borrowers at the date of issuance of a Bankers' Acceptance, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance, and any such Bankers' Acceptance so signed shall be binding on the Canadian Subsidiary Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Scotts Miracle-Gro Co), Credit Agreement (Scotts Miracle-Gro Co)

Execution of Bankers’ Acceptances. Drafts Bills of exchange of the Canadian Borrower to be accepted as Bankers' Acceptances hereunder shall be duly executed by one or more duly authorized officers on behalf of the Canadian Borrower. Notwithstanding that any person whose signature appears on any Bankers' Acceptance as a signatory for the Canadian Borrower may no longer be an authorized signatory for the Canadian Borrower at the date of issuance of a Bankers' Acceptance, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance, issuance and any such Bankers' Acceptance so signed shall be binding on the Canadian Borrower, unless the Canadian Bank accepting such Bankers' Acceptance has actual knowledge that such signatory is no longer an authorized signatory.

Appears in 2 contracts

Samples: Credit Agreement (Allied Holdings Inc), Revolving Credit Agreement (Allied Holdings Inc)

Execution of Bankers’ Acceptances. Drafts of the Canadian --------------------------------- Borrower to be accepted as Bankers' Acceptances hereunder shall be duly executed on behalf of the Canadian Borrower. Notwithstanding that any person whose signature appears on any Bankers' Acceptance as a signatory for the Canadian Borrower may no longer be an authorized signatory for the Canadian Borrower at the date of issuance of a Bankers' Acceptance, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance, and any such Bankers' Acceptance so signed shall be binding on the Canadian Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Pierce Leahy Corp), Credit Agreement (Pierce Leahy Corp)

Execution of Bankers’ Acceptances. Drafts of the Canadian Borrower Borrowers to be accepted as Bankers' Bankers Acceptances hereunder shall be duly executed by one or more duly authorized officers on behalf of the Canadian Borrower, subject to Section 2.04A(i)(c) above. Notwithstanding that any person Person whose signature appears on any Bankers' Canadian Bankers Acceptance as a signatory for the Canadian Borrower may no longer be an authorized signatory for the Canadian Borrower at the date of issuance of a Bankers' Canadian Bankers Acceptance, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance, issuance and any such Bankers' Canadian Bankers Acceptance so signed shall be binding on the Canadian Borrower.

Appears in 1 contract

Samples: Agreement (DRS Technologies Inc)

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Execution of Bankers’ Acceptances. Drafts of drawn by the Canadian Borrower to be accepted as Bankers' Acceptances hereunder shall be signed by a duly executed on behalf authorized officer or officers of the Canadian BorrowerBorrower or by its attorneys, including attorneys appointed pursuant to Section 2.10(f). Notwithstanding that any person Person whose signature appears on any Bankers' Acceptance as a signatory for the Canadian Borrower may no longer be an authorized signatory for the Canadian Borrower at the date time of issuance of a Bankers' Acceptance, such that signature shall nevertheless be valid and sufficient for all purposes as if such the authority had remained in force at the time of such issuance, issuance and any such Bankers' Acceptance so signed shall be binding on the Canadian Borrower.

Appears in 1 contract

Samples: Credit Agreement (Cott Corp /Cn/)

Execution of Bankers’ Acceptances. Drafts of the Canadian Borrower to be accepted as Bankers' Acceptances hereunder shall be duly executed on behalf of the Canadian Borrower. Notwithstanding that any person whose signature appears on any Bankers' Acceptance as a signatory for the Canadian Borrower may no longer be an authorized signatory for the Canadian Borrower at the date of issuance of a Bankers' Acceptance, such signature shall nevertheless be valid and sufficient for all purposes as if such authority had remained in force at the time of such issuance, and any such Bankers' Acceptance so signed shall be binding on the Canadian Borrower.

Appears in 1 contract

Samples: Credit Agreement (Jostens Inc)

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