Notice Provisions. Subject to Section 2.8(a), Drawdowns will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert or repay Borrowings where permitted hereunder, provided a Notice of Drawdown, a Notice of Rollover, a Notice of Conversion or a Notice of Repayment, as applicable, is received from the Borrower by the Agent as follows: (a) with respect to Borrowings, other than LIBOR Based Loans or Bankers' Acceptances, at least 1 Banking Day prior to such Advance provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable; (b) with respect to a Drawdown, Rollover, Conversion or Repayment of or into Bankers' Acceptances, at least 2 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable; (c) with respect to a Drawdown, Rollover, Conversion or Repayment of or into a LIBOR Based Loan, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable; and (d) with respect to Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing Lender, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be received by the Agent no later than 4:30 p.m. Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date. Any of the notices referred to in the foregoing paragraphs may, subject to Section 22.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the notice required hereunder confirming such instructions.
Appears in 3 contracts
Sources: Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.)
Notice Provisions. Subject to Section 2.8(a), Drawdowns under the Credit Facilities will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert effect a Rollover or repay Borrowings Conversion where permitted hereunder, in each case on the requested Banking Day provided (other than in respect of overdraft Drawdowns under the Operating Facility where no notice is required) a Notice of Drawdown, a Borrowing or Notice of Rollover, a Rollover or Notice of Conversion or a Notice of RepaymentConversion, as applicable, is received by the Agent (or the Operating Lender on behalf of the Agent, if the Agent so directs) from the Borrower by the Agent as follows:
(a) with respect to BorrowingsAdvances, other than by way of Letters of Credit, LIBOR Based Loans or Bankers' AcceptancesCDOR Rate Loans, at least 1 Banking Day prior to such Advance Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Toronto time) on the Banking Day immediately preceding the requested Drawdown Date or the date of RolloverRollover or Conversion, Conversion or Repayment, as soon as applicable;
(b) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into Bankers' Acceptancesa CDOR Rate Loan, at least 2 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Toronto time) on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable;
(c) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into a LIBOR Based Loan, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Toronto time) on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable; and
(d) with respect to Advances under the Operating Facility by way of Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing LenderAdvance, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be provided notice is received by the Agent no later than 4:30 p.m. Toronto, Ontario time 12:00 noon (Toronto time) on the third Banking Day immediately preceding the requested Drawdown Date. Any Date or the date of the notices referred to in the foregoing paragraphs mayRollover or Conversion, subject to Section 22.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the notice required hereunder confirming such instructionsas applicable.
Appears in 1 contract
Notice Provisions. Subject to Section 2.8(a), Drawdowns under the Credit Facilities will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert effect a Rollover or repay Borrowings Conversion where permitted hereunder, in each case on the requested Banking Day or LIBOR Banking Day, as the case may be, provided (other than in respect of overdraft borrowings where no notice is required) a Notice of Drawdown, a Borrowing or Notice of Rollover, a Rollover or Notice of Conversion or a Notice of RepaymentConversion, as applicable, is received by the Agent from the Borrower by the Agent as follows:
(a) with respect to BorrowingsAdvances, other than by way of Letters of Credit, LIBOR Based Loans or Bankers' ’ Acceptances, at least 1 Banking Day prior to such Advance Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Toronto time) on the Banking Day immediately preceding the requested Drawdown Date or the date of RolloverRollover or Conversion, Conversion or Repayment, as soon as applicable;
(b) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into a Bankers' Acceptances’ Acceptance, at least 2 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Toronto time) on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable;
(c) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into a LIBOR Based Loan, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Toronto time) on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable; and
(d) with respect to Advances under the Operating Facility by way of Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing LenderAdvance, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be provided notice is received by the Agent no later than 4:30 p.m. Toronto, Ontario time 12:00 noon (Toronto time) on the third Banking Day immediately preceding the requested Drawdown Date. Any Date or the date of the notices referred to in the foregoing paragraphs mayRollover or Conversion, subject to Section 22.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the notice required hereunder confirming such instructionsas applicable.
Appears in 1 contract
Notice Provisions. Subject to Section 2.8(a), Drawdowns under the Credit Facilities will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert effect a Rollover or repay Borrowings Conversion where permitted hereunder, in each case on the requested Banking Day, provided a Notice that, other than in respect of Drawdownoverdraft borrowings under the Operating Facility, where no notice is required, a Notice of Rollover, a Borrowing or Notice of Conversion Rollover or a Notice of RepaymentConversion, as applicable, is received by the Agent from the Borrower by the Agent as follows:
(a) with respect to BorrowingsAdvances, other than LIBOR Based Loans by way of Letters of Credit or Bankers' AcceptancesBenchmark Loans, at least 1 Banking Day prior to such Advance Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Montreal time) on the Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as soon as applicable;; 54411012.5
(b) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into Bankers' Acceptancesinto, a ▇▇▇▇▇ Loan, at least 2 3 Banking Days prior to such Advance, provided notice is received by the 54411012.5 Agent no later than 12:00 noon (Montreal time) on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover or Conversion, as applicable;
(c) with respect to a Drawdown, Rollover or Conversion of or into, a SOFR Loan, at least 3 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Montreal time) on the second third Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable;; and
(cd) with respect to a Drawdown, Rollover, Conversion or Repayment Advances under the Operating Facility by way of or into a LIBOR Based LoanLetters of Credit, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Montreal time) on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable; and
(d) with respect to Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing Lender, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be received by the Agent no later than 4:30 p.m. Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown DateDate or the date of Rollover or Conversion, as applicable. Any of the notices referred to in the foregoing paragraphs of this Section 5.2 may, subject to Section 22.217.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the written notice required hereunder confirming such instructions.
Appears in 1 contract
Notice Provisions. Subject to Section 2.8(a), Drawdowns The initial Drawdown will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert or repay Borrowings where permitted hereunder, provided a Notice of Drawdown, a Notice of Rollover, a Notice of Conversion or a Notice of Repayment, as applicable, is received from the Borrower by the Agent as follows:
(a) with respect to Borrowings, other than LIBOR Based Loans or Bankers' Acceptances, at least 1 Banking Day prior to such Advance provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable;
(b) with respect to a Drawdown, Rollover, Conversion or Repayment of or into Bankers' Acceptances, at least 2 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable;; and
(c) with respect to a Drawdown, Rollover, Conversion or Repayment of or into a LIBOR Based Loan, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable; and
(d) with respect to Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing Lender, acting reasonably). Notwithstanding the foregoing, the The Notice of Drawdown for the initial Drawdowns on or after the Closing Date Drawdown (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be received by the Agent no later than 4:30 p.m. Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date. Any of the notices referred to in the foregoing paragraphs may, subject to Section 22.221.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the notice required hereunder confirming such instructions.
Appears in 1 contract
Notice Provisions. Subject to Section 2.8(a), Drawdowns under the Credit Facilities will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert effect a Rollover or repay Borrowings Conversion where permitted hereunder, provided a Notice of Drawdownin each case on the requested Banking Day or LIBOR Banking Day, as the case may be, provided, other than for an overdraft Advance under the Operating Facility where no notice is required, a Notice of Rollover, a Borrowing or Notice of Conversion Rollover or a Notice of RepaymentConversion, as applicable, is received by the Agent from the Borrower by the Agent as follows:
(a) with respect to Borrowingsa Drawdown, other than LIBOR Based Loans Rollover or Bankers' AcceptancesConversion of or into a Canadian Prime Rate Loan or a U.S. Base Rate Loan, at least 1 one (1) Banking Day prior to such Advance Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Toronto time) on the Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable;
(b) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into Bankers' Acceptancesa Banker’s Acceptance or BA Equivalent Loan, at least 2 two (2) Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time 11:00 a.m. (Toronto time) on the second Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable;
(c) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into a LIBOR Based Loan, at least 3 three (3) LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Toronto time) on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable; and
(d) with respect to Advances under the Operating Facility by way of Letters of Credit, at least 3 three (3) Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing LenderAdvance, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be provided notice is received by the Agent Operating Lender, in each case no later than 4:30 p.m. Toronto, Ontario time 12:00 noon (Toronto time) on the third Banking Day immediately preceding the requested Drawdown Dateissuance date. Any of the notices referred to in the foregoing paragraphs of this Section 5.2 may, subject to Section 22.218.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the written notice required hereunder confirming such instructions.
Appears in 1 contract
Sources: Credit Agreement
Notice Provisions. Subject to Section 2.8(a), Drawdowns will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert or repay Borrowings where permitted hereunder, provided a Notice of Drawdown, a Notice of Rollover, a Notice of Conversion or a Notice of Repayment, as applicable, is received from the Borrower by the Agent as follows:
(a) with respect to Borrowings, other than LIBOR Based Loans or Bankers' Acceptances, at least 1 Banking Day prior to such Advance provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable;
(b) with respect to a Drawdown, Rollover, Conversion or Repayment of or into Bankers' Acceptances, at least 2 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable;
(c) with respect to a Drawdown, Rollover, Conversion or Repayment of or into a LIBOR Based Loan, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable; and
(d) with respect to Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing Lender, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns under the Credit Facilities on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be received by the Agent no later than 4:30 p.m. Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date. Any of the notices referred to in the foregoing paragraphs may, subject to Section 22.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the notice required hereunder confirming such instructions.
Appears in 1 contract
Notice Provisions. Subject to Section 2.8(a), Drawdowns will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert or repay Borrowings where permitted hereunder, provided a Notice of Drawdown, a Notice of Rollover, a Notice of Conversion or a Notice of Repayment, as applicable, is received from the Borrower by the Agent as follows:
(a) with respect to Borrowings, other than LIBOR Based Loans or Bankers' Acceptances, at least 1 Banking Day prior to such Advance provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable;
(b) with respect to a Drawdown, Rollover, Conversion or Repayment of or into Bankers' Acceptances, at least 2 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable;
(c) with respect to a Drawdown, Rollover, Conversion or Repayment of or into a LIBOR Based Loan, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable; and
(d) with respect to Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing Lender, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date Drawdown (other than by way of LIBOR Based Loans or Bankers' AcceptancesLoans) may be received by the Agent no later than 4:30 p.m. Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date. Any of the notices referred to in the foregoing paragraphs may, subject to Section 22.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the bythe Borrower delivering to the Agent on the same day the notice required hereunder confirming such instructions.
Appears in 1 contract
Notice Provisions. Subject to Section 2.8(a)3.10, Drawdowns will be made available to the Borrower and the Borrower will be entitled to Rollover, Rollover or Convert or repay Borrowings Accommodations under the Credit Facility where permitted hereunder, provided a Notice of Drawdown, a Notice of Rollover, a Notice of Conversion Borrowing or a Notice of RepaymentRollover or Notice of Conversion, as applicable, is received from the Borrower by the Agent Agent, as follows:
(a) with respect to BorrowingsAdvances, other than by way of LIBOR Based Loans or Bankers' AcceptancesLetters of Credit, at least 1 Banking Day prior to such Advance provided notice is received by the Agent no later than 12:00 noon Toronto11:00 a.m. Calgary, Ontario Alberta time on the Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable;
(b) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into Bankers' Acceptances, at least 2 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable;
(c) with respect to a Drawdown, Rollover, Conversion or Repayment of or into a LIBOR Based Loan, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto10:00 a.m. Calgary, Ontario Alberta time on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable; and
(dc) with respect to Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing LenderLC Issuer, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be received by the Agent no later than 4:30 p.m. Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date. Any of the notices referred to in the foregoing paragraphs may, subject to Section 22.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the notice required hereunder confirming such instructions. Notwithstanding the foregoing, for the initial Drawdown to be made in connection with the repayment of the Existing Credit Facility, the Borrower shall deliver to the Agent a Notice of Borrowing at least 2 Banking Days prior to the date of the initial Drawdown hereunder, which Notice of Borrowing shall include a funding indemnity which shall be in form and substance satisfactory to the Agent, acting reasonably.
Appears in 1 contract
Notice Provisions. Subject to Section 2.8(a)3.10, Drawdowns will be made available to the Borrower and the Borrower will be entitled to Rollover, Rollover or Convert or repay Borrowings Accommodations under the Credit Facility where permitted hereunder, provided a Notice of Drawdown, a Notice of Rollover, a Notice of Conversion Borrowing or a Notice of RepaymentRollover or Notice of Conversion, as applicable, is received from the Borrower by the Agent Agent, as follows:
(a) with respect to BorrowingsAdvances, other than by way of LIBOR Based Loans or Bankers' AcceptancesLetters of Credit, at least 1 Banking Day prior to such Advance provided notice is received by the Agent no later than 12:00 noon Toronto11:00 a.m. Calgary, Ontario Alberta time on the Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable;
(b) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into Bankers' Acceptances, at least 2 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion or Repayment, as applicable;
(c) with respect to a Drawdown, Rollover, Conversion or Repayment of or into a LIBOR Based Loan, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto10:00 a.m. Calgary, Ontario Alberta time on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable; and
(dc) with respect to Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing LenderLC Issuer, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be received by the Agent no later than 4:30 p.m. Toronto, Ontario time on the Banking Day immediately preceding the requested Drawdown Date. Any of the notices referred to in the foregoing paragraphs may, subject to Section 22.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the notice required hereunder confirming such instructions. Notwithstanding the foregoing, for the initial Drawdown to be made in connection with the repayment of the Existing Credit Facilities, no prior notice is required provided that a Notice of Borrowing is delivered to the Agent on the Closing Date at a time acceptable to the Agent.
Appears in 1 contract
Notice Provisions. Subject to Section 2.8(a), Drawdowns under each Credit Facility will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert effect a Rollover or repay Borrowings Conversion where permitted hereunder, in each case on the requested Banking Day or SOFR Banking Day, as the case may be, provided a Notice that, other than in respect of DrawdownAdvances by way of overdraft, a Notice of Rollover, a Borrowing or Notice of Conversion Rollover or a Notice of RepaymentConversion, as applicable, is received by the Agent (or the Operating Facility Lender in the case of the Operating Facility) from the Borrower by the Agent as follows:
(a) with respect to Borrowings, other than LIBOR Based Advances by way of Canadian Prime Rate Loans or Bankers' Acceptancesand U.S. Base Rate Loans, at least 1 Banking Day prior to such Advance Advance, provided notice is received by the Agent or the Operating Facility Lender, as applicable, no later than 12:00 noon Toronto, Ontario time (Montreal time) on the first Banking Day immediately preceding the requested Drawdown Date or issuance date; notwithstanding the date foregoing, Canadian Prime Rate Loan Advances and U.S. Base Rate Loan Advances by way of Rollover, Conversion or Repayment, as applicableoverdraft under the Operating Facility shall not be subject to any notice requirements;
(b) with respect to a Drawdown, Rollover, Conversion or Repayment Advances by way of or into Bankers' AcceptancesBanker's Acceptances and BA Equivalent Loans, at least 2 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Montreal time) on the second Banking Day immediately preceding the requested Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable;; and
(c) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into a LIBOR Based SOFR Loan, at least 3 LIBOR SOFR Banking Days prior to such Advance, provided notice is received by the Agent Agent, no later than 12:00 noon Toronto, Ontario time (Montreal time) on the third LIBOR SOFR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable; and
(d) with respect to the issuance of Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing Lenderrequested issuance date, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be provided notice is received by the Agent Operating Facility Lender no later than 4:30 p.m. Toronto, Ontario time 12:00 noon (Montreal time) on the third Banking Day immediately preceding the requested Drawdown Dateissuance date. Any of the notices referred to in the foregoing paragraphs of this Section 5.2 may, subject to Section 22.219.2, be given by the Borrower, solely at its sole riskthe risk of the Borrower, to the Agent or the Operating Facility Lender, as applicable, by telephone and in such case will be followed by the Borrower delivering to the Agent or the Operating Facility Lender, as applicable, on the same day the written notice required hereunder confirming such instructions.
Appears in 1 contract
Sources: Credit Agreement
Notice Provisions. Subject to Section 2.8(a), Drawdowns under the Credit Facilities will be made available to the Borrower and the Borrower will be entitled to Rollover, Convert effect a Rollover or repay Borrowings Conversion where permitted hereunder, in each case on the requested Banking Day, provided a Notice that, other than in respect of Drawdownoverdraft borrowings under the Operating Facility, where no notice is required, a Notice of Rollover, a Borrowing or Notice of Conversion Rollover or a Notice of RepaymentConversion, as applicable, is received by the Agent from the Borrower by the Agent as follows:
(a) with respect to BorrowingsAdvances, other than LIBOR Based Loans by way of Letters of Credit or Bankers' AcceptancesBenchmark Loans, at least 1 Banking Day prior to such Advance Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Montreal time) on the Banking Day immediately preceding the requested Drawdown Date or the date of RolloverRollover or Conversion, Conversion or Repayment, as soon as applicable;
(b) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into Bankers' Acceptancesinto, a ▇▇▇▇▇ Loan, at least 2 3 Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Montreal time) on the second Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable;
(c) with respect to a Drawdown, Rollover, Rollover or Conversion or Repayment of or into into, a LIBOR Based SOFR Loan, at least 3 LIBOR Banking Days prior to such Advance, provided notice is received by the Agent no later than 12:00 noon Toronto, Ontario time (Montreal time) on the third LIBOR Banking Day immediately preceding the Drawdown Date or the date of Rollover, Conversion Rollover or RepaymentConversion, as applicable; and
(d) with respect to Advances under the Operating Facility by way of Letters of Credit, at least 3 Banking Days prior to such Advance (or such shorter or longer period as may be determined by the Issuing LenderAdvance, acting reasonably). Notwithstanding the foregoing, the Notice of Drawdown for the initial Drawdowns on or after the Closing Date (other than by way of LIBOR Based Loans or Bankers' Acceptances) may be provided notice is received by the Agent no later than 4:30 p.m. Toronto, Ontario time 12:00 noon (Montreal time) on the third Banking Day immediately preceding the requested Drawdown DateDate or the date of Rollover or Conversion, as applicable. Any of the notices referred to in the foregoing paragraphs of this Section 5.2 may, subject to Section 22.217.2, be given by the Borrower, at its sole risk, to the Agent by telephone and in such case will be followed by the Borrower delivering to the Agent on the same day the written notice required hereunder confirming such instructions.
Appears in 1 contract