Common use of General Support Facility Clause in Contracts

General Support Facility. EDC agrees, on the terms and conditions set forth in this Agreement and subject to the exercise of its sole discretion, to provide Support up to a maximum aggregate of US$450 million, or the equivalent thereof in Euros, CDN$, or Sterling, or in such other currencies as EDC may agree to support (or any combination thereof) (including, for the purpose of calculating the amount of such Support, the amount of support outstanding from time to time under the EDC Agreements described under the heading “General Support Facility” in the EDC Agreement List). Such Support shall be provided on a revolving basis through: (i) the provision of guarantee bonds or guarantee type documents issued to financial institutions in connection with the purchase of accounts receivable or securitizations by such financial institutions; (ii) the purchase of accounts receivable or securitizations by EDC; or (iii) the provision of guarantee bonds or guarantee type documents in support of the issuance, continuance or renewal by financial institutions, at the request of the Principal, of Instruments in support of contract performance. Support provided through the provision of guarantee bonds or guarantee type documents, or receivables purchased or securitized by EDC, shall expire no later than the Termination Date. The facility described in this Section 2.1(b)(i) is hereinafter referred to as the “General Support Facility”. The General Support Facility shall automatically terminate at the close of business on the day immediately preceding the Termination Date. The General Support Facility shall be revolving and, for greater certainty, EDC will approve or decline coverage for transactions requested by the Principal on a case-by-case basis.

General Support Facility. EDC agrees, on the terms and conditions set forth in this Agreement and subject to the exercise of its sole discretion, to provide Support up to a maximum aggregate of US$450 million, or the equivalent thereof in Euros, CDN$, or Sterling, or in such other currencies as EDC may agree to support (or any combination thereof) (including, for the purpose of calculating the amount of such Support, the amount of support outstanding from time to time under the EDC Agreements described under relating to the heading “General Support Facility” as defined in the EDC Agreement Listany predecessor to this Agreement). Such Support shall be provided on a revolving basis through: (i) the provision of guarantee bonds or guarantee type documents issued to financial institutions in connection with the purchase of accounts receivable or securitizations by such financial institutions; (ii) the purchase of accounts receivable or securitizations by EDC; or (iii) the provision of guarantee bonds or guarantee type documents in support of the issuance, continuance or renewal by financial institutions, at the request of the Principal, of Instruments in support of contract performance. Support provided through the provision of guarantee bonds or guarantee type documents, or receivables purchased or securitized by EDC, shall expire no later than the Termination Datefourth anniversary of the issuance of such Support. The facility described in this Section 2.1(b)(i) is hereinafter referred to as the “General Support Facility”. The ability to request additional Support under the General Support Facility shall automatically terminate at the close of business on the day immediately preceding the Termination Date. The General Support Facility shall be revolving and, for greater certainty, EDC will approve or decline coverage for transactions requested by the Principal on a case-by-case basis.