MATURITY OF BANKERS' ACCEPTANCES Sample Clauses

MATURITY OF BANKERS' ACCEPTANCES. On the date of maturity of each Bankers' Acceptance or BA Equivalent Note, Parent shall pay to the Canadian Agent, for the account of the Lender which accepted such Bankers' Acceptance or the holder of such BA Equivalent Note, Canadian Dollars in an amount equal to the face amount of such Bankers' Acceptance or BA Equivalent Note, as the case may be. The obligation of Parent to make such payment shall not be prejudiced by the fact that the holder of any such Bankers' Acceptance is the Canadian Lender that accepted such Bankers' Acceptance. No days of grace shall be claimed by Parent for the payment at maturity of any Bankers' Acceptance or BA Equivalent Note. If Parent does not make such payment, from the proceeds of Loans or the issuance of Bankers' Acceptances and/or BA Equivalent Notes hereunder or otherwise, the Canadian Lender that accepted such Bankers' Acceptance or initially purchased such BA Equivalent Note may (but shall not be obliged to), without receipt of a Notice of Canadian Dollar Borrowing and irrespective of whether any other applicable conditions precedent specified herein have been satisfied, and without waiver of Parent's failure to make such payment, make a Prime Rate Loan to Parent in the face amount of such Bankers' Acceptance or BA Equivalent Note, as the case may be, and shall forthwith give notice thereof to Parent and the Canadian Agent (which shall promptly give similar notice to the other Canadian Lenders). Parent agrees to accept each such Prime Rate Loan and irrevocably authorizes and directs the applicable Canadian Lender to apply the proceeds thereof in payment of the liability of Parent with respect to the related Bankers' Acceptance or BA Equivalent Note. Notwithstanding any other provision hereof, all Prime Rate Loans made as contemplated by this SECTION 2.3.3 shall be payable on demand by the Canadian Agent or the Required Canadian Lenders.
Sample 1
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MATURITY OF BANKERS' ACCEPTANCES. Each Bankers' Acceptance shall mature on a Business Day which shall neither be less than 30 days nor more than 180 days after the date of acceptance of the draft by a Lender. No Bankers' Acceptance issued under the Credit may mature on a date later than the Maturity Date or so as to prevent any repayment of a required amount on the due date as provided in Section 3.5. The principal amount at maturity of a Bankers' Acceptance which matures and is satisfied by the Borrower on its date of maturity may be renewed as a Bankers' Acceptance or converted into an Advance on its date of maturity without any reduction of the amount of the Credit. A Bankers' Acceptance may not be prepaid. Each Bankers' Acceptance which forms part of one Borrowing shall mature on the same Business Day.
Sample 1

Related to MATURITY OF BANKERS' ACCEPTANCES

  • Maturity of Loans Each Loan hereunder shall mature, and the principal amount thereof shall be due and payable on the Maturity Date with respect to such Loan.

  • Bankers’ Acceptances (a) Subject to the terms and conditions of this Agreement, the Canadian Borrowers may request Borrowings of Canadian Revolving Credit Loans by presenting drafts for acceptance and purchase as B/As by the Canadian Lenders.

  • Circumstances Making Bankers’ Acceptances Unavailable If the Canadian Sub-Agent in good faith determines that for any reason a market for Bankers’ Acceptances does not exist at any time or the Tranche B Lenders cannot for other reasons, after reasonable efforts, readily sell Bankers’ Acceptances or perform their other obligations under this Agreement with respect to Bankers’ Acceptances, the Canadian Sub-Agent will promptly so notify TCCI and each Tranche B Lender. Thereafter, TCCI’s right to request the acceptance and/or purchase of Drafts shall be and remain suspended until the Canadian Sub-Agent determines and notifies TCCI and each Tranche B Lender that the condition causing such determination no longer exists.

  • Maturity As provided therein, the entire unpaid principal balance of each Note shall be due and payable on the Maturity Date thereof.

  • Extension of Revolving Credit Maturity Date The Borrower shall have the right and option to extend the Revolving Credit Maturity Date in respect of the Total Revolving Credit Commitment or portion thereof, if reduced in accordance with §2.4, a total of two (2) times for a period of twelve (12) months each upon satisfaction of the following conditions precedent, which must be satisfied prior to the effectiveness of any extension of the Revolving Credit Maturity Date:

  • Collateralization of Obligations Extending Beyond Maturity If Borrower has not secured to Bank’s satisfaction its obligations with respect to any Ancillary Services by the Revolving Maturity Date, then, effective as of such date, the balance in any deposit accounts held by Bank and the certificates of deposit or time deposit accounts issued by Bank in Borrower’s name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates or accounts), shall automatically secure such obligations to the extent of the then continuing or outstanding Ancillary Services. Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the applicable Ancillary Services are outstanding or continue.

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Maturity of Investments Any Permitted Investments of funds in the Bank Accounts (or any reinvestments of the Permitted Investments) for a Collection Period must mature, if applicable, and be available no later than the Business Day before the related Payment Date. However, funds in the Reserve Account may be invested in Permitted Investments that will not mature or be available before the related Payment Date if the Rating Agency Condition has been satisfied for the investment. Any Permitted Investments with a maturity date will be held to their maturity, except that such Permitted Investments may be sold or disposed of before their maturity (i) if they relate to funds in the Reserve Account required to satisfy the Reserve Account Draw Amount on a Payment Date or (ii) in connection with the sale or liquidation of the Collateral following an Event of Default under Section 5.6 of the Indenture.

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