Common use of Minimum Amounts, Multiples and Procedures re Draws, Substitutions and Repayments Clause in Contracts

Minimum Amounts, Multiples and Procedures re Draws, Substitutions and Repayments. (a) Advances under the Swingline shall be on a dollar for dollar basis and not subject to a minimum amount or a required multiple. (b) Each request by the Borrower for an Advance or Substitution in the form of a Prime-Based Loan shall be in a minimum amount of $500,000 and a multiple of $100,000. (c) Each request by the Borrower for an Advance by way of Bankers' Acceptances and BA Equivalent Notes shall be for an aggregate face amount of Bankers' Acceptances and BA Equivalent Notes of not less than $5,000,000 and in a multiple of $100,000, and in such amount as will result in the face amount of each Bankers' Acceptance or BA Equivalent Note issued by a Lender being in a multiple of $1,000. (d) Upon receipt of a Draw Request, the Agent shall promptly notify each Lender of the contents thereof and such Lender's Proportionate Share of the Advance. Such Draw Request shall not thereafter be revocable. (e) Each Advance shall be made by the applicable Lenders to the Agent at its address referred to in Section 13.08 or such other address as the Agent may designate by notice in writing to the Lenders from time to time. Each Lender shall make available its Proportionate Share of each said Advance to the Agent. Unless the Agent determines that any condition of the Advance has not been satisfied or waived, the Agent shall make the funds so received from the Lenders available to the Borrower by 2:00 p.m. (Toronto time) on the requested date of the Advance. No Lender shall be responsible for any other Lender's obligation to make available its Proportionate Share of the said Advance. (f) The Borrower agrees to deliver in favour of each Lender such other agreements and documentation as such Lender may reasonably require (not inconsistent with this Agreement) in respect of such Lender's requirements for the acceptance of Bankers' Acceptances or the issuance of BA Equivalent Notes. (g) All payments of principal, interest and other amounts made by the Borrower to the Agent in respect of the Outstanding Principal Amount shall be paid by the Agent to the respective Lenders, each in accordance with its Proportionate Share. For greater certainty, however, stamping fees in respect of Bankers' Acceptances and BA Equivalent Notes shall be received and retained by the respective Lenders which issued or accepted such Bankers' Acceptances and BA Equivalent Notes.

Appears in 2 contracts

Sources: Credit Agreement (Organigram Holdings Inc.), Credit Agreement (Organigram Holdings Inc.)

Minimum Amounts, Multiples and Procedures re Draws, Substitutions and Repayments. (a) Advances under the Swingline shall be on a dollar for dollar basis and not subject to a minimum amount or a required multiple. (b) Each Subject to paragraph (a), each request by the Borrower for an Advance or Substitution in the form of a Prime-Based Prime Rate Loan shall be in a minimum amount of $500,000 1,000,000 and a multiple of $100,000. (c) Each request by the Borrower for an Advance by way of Bankers' Acceptances and BA Equivalent Notes shall be for an aggregate face amount of Bankers' Acceptances and BA Equivalent Notes of not less than $5,000,000 and in a multiple of $100,000, and in such amount as will result in the face amount of each Bankers' Acceptance or BA Equivalent Note issued by a Lender being in a multiple of $1,000. (d) Upon receipt of a Draw RequestRequest under any Facility, the Agent shall promptly notify each Lender under such Facility of the contents thereof and such Lender's Proportionate Share of the Advance. Such Draw Request shall not thereafter be revocable. (e) Each Advance shall be made by the applicable Lenders to the Agent at its address referred to in Section 13.08 section 13.09 or such other address as the Agent may designate by notice in writing to the Lenders from time to time. Each Lender shall make available its Proportionate Share of each said Advance to the Agent. Unless the Agent determines that any condition of the Advance has not been satisfied or waived, the Agent shall make the funds so received from the Lenders available to the Borrower by 2:00 p.m. (Toronto time) on the requested date of the Advance. No Lender shall be responsible for any other Lender's obligation to make available its Proportionate Share of the said Advance. (f) [Intentionally Deleted]. (g) The Borrower agrees to deliver in favour of each Lender such other agreements and documentation as such Lender may reasonably require (not inconsistent with this Agreement) in respect of such Lender's requirements for the acceptance of Bankers' Acceptances or the issuance of BA Equivalent Notes. (gh) All payments of principal, interest and other amounts made by the Borrower to the Agent in respect of the Outstanding Principal Amount under a Facility shall be paid by the Agent to the respective Lenders, each in accordance with its Proportionate Share. For greater certainty, however, stamping fees in respect of Bankers' Acceptances and BA Equivalent Notes shall be received and retained by the respective Lenders which issued or accepted such Bankers' Acceptances and BA Equivalent Notes.

Appears in 1 contract

Sources: Credit Agreement (Aurora Cannabis Inc)

Minimum Amounts, Multiples and Procedures re Draws, Substitutions and Repayments. (a) Advances under the Swingline shall be on a dollar for dollar basis and not subject to a minimum amount or a required multiple. (b) Each request by the Borrower for an Advance or Substitution in the form of a Prime-Based Loan shall be in a minimum amount of $500,000 and a multiple of $100,000. (c) Each request by the Borrower for an Advance by way of Bankers' Acceptances and BA Equivalent Notes CDOR Loans shall be for an aggregate face or principal amount of Bankers' Acceptances and BA Equivalent Notes CDOR Loans of not less than $5,000,000 and in a multiple of $100,000, DOCPROPERTY "CUS_DocIDChunk0" NATDOCS\70776052\V-4 and in such amount as will result in the face amount of each Bankers' Acceptance or BA Equivalent Note CDOR Loan issued by a Lender being in a multiple of $1,000100,000. (d) Upon receipt of a Draw Request, the Agent shall promptly notify each Lender of the contents thereof and such Lender's ’s Proportionate Share of the Advance. Such Draw Request shall not thereafter be revocable. (e) Each Advance shall be made by the applicable Lenders to the Agent at its address referred to in Section 13.08 or such other address as the Agent may designate by notice in writing to the Lenders from time to time. Each Lender shall make available its Proportionate Share of each said Advance to the Agent. Unless the Agent determines that any condition of the Advance has not been satisfied or waived, the Agent shall make the funds so received from the Lenders available to the Borrower by 2:00 p.m. (Toronto time) on the requested date of the Advance. No Lender shall be responsible for any other Lender's ’s obligation to make available its Proportionate Share of the said Advance. (f) The Borrower agrees to deliver in favour of each Lender such other agreements and documentation as such Lender may reasonably require (not inconsistent with this Agreement) in respect of such Lender's requirements for the acceptance of Bankers' Acceptances or the issuance of BA Equivalent Notes. (g) All payments of principal, interest and other amounts made by the Borrower to the Agent in respect of the Outstanding Principal Amount under a Facility shall be paid by the Agent to the respective Lenders, each in accordance with its Proportionate Share. For greater certainty, however, stamping fees in respect of Bankers' Acceptances and BA Equivalent Notes shall be received and retained by the respective Lenders which issued or accepted such Bankers' Acceptances and BA Equivalent Notes.

Appears in 1 contract

Sources: Fourth Amended and Restated Credit Agreement (Village Farms International, Inc.)

Minimum Amounts, Multiples and Procedures re Draws, Substitutions and Repayments. (a) Advances under the Swingline shall be on a dollar for dollar basis and not subject to a minimum amount or a required multiple. (b) Each Subject to paragraph (a), each request by the Borrower for an Advance or Substitution in the form of a Prime-Based Prime Rate Loan shall be in a minimum amount of $500,000 1,000,000 and a multiple of $100,000. (c) Each request by the Borrower for an Advance by way of Bankers' Acceptances and BA Equivalent Notes shall be for an aggregate face amount of Bankers' Acceptances and BA Equivalent Notes of not less than $5,000,000 and in a multiple of $100,000, and in such amount as will result in the face amount of each Bankers' Acceptance or BA Equivalent Note issued by a Lender being in a multiple of $1,000. (d) Upon receipt of a Draw RequestRequest under any Facility, the Agent shall promptly notify each Lender under such Facility of the contents thereof and such Lender's Proportionate Share of the Advance. Such Draw Request shall not thereafter be revocable. (e) Each Advance shall be made by the applicable Lenders to the Agent at its address referred to in Section 13.08 section 13.09 or such other address as the Agent may designate by notice in writing to the Lenders from time to time. Each Lender shall make available its Proportionate Share of each said Advance to the Agent. Unless the Agent determines that any condition of the Advance has not been satisfied or waived, the Agent shall make the funds so received from the Lenders available to the Borrower by 2:00 p.m. (Toronto time) on the requested date of the Advance. No Lender shall be responsible for any other Lender's obligation to make available its Proportionate Share of the said Advance. (f) The Borrower agrees to deliver in favour of each Lender such other agreements and documentation as such Lender may reasonably require (not inconsistent with this Agreement) in respect of such Lender's requirements for the acceptance of Bankers' Acceptances or the issuance of BA Equivalent Notes. (g) All payments of principal, interest and other amounts made by the Borrower to the Agent in respect of the Outstanding Principal Amount under a Facility shall be paid by the Agent to the respective Lenders, each in accordance with its Proportionate Share. For greater certainty, however, stamping fees in respect of Bankers' Acceptances and BA Equivalent Notes shall be received and retained by the respective Lenders which issued or accepted such Bankers' Acceptances and BA Equivalent Notes.

Appears in 1 contract

Sources: Credit Agreement (Aurora Cannabis Inc)