Common use of Outstanding Bankers’ Acceptances Clause in Contracts

Outstanding Bankers’ Acceptances. If the Credit Facility is terminated at any time prior to the maturity date of any Bankers’ Acceptance issued hereunder, the Borrower shall pay to the Lenders, on demand, an amount with respect to each such Bankers’ Acceptance equal to the total amounts which would be required to purchase in the Canadian Dollars market, as of 10:00 a.m. on the date of payment of such demand, Government of Canada treasury bills in an aggregate amount equal to the Face Amount of such Bankers’ Acceptance having a term to maturity similar to the period from such demand to maturity of such Bankers’ Acceptance. Upon payment by the Borrower as required under this paragraph, the Borrower shall have no further liability in respect of each such Bankers’ Acceptance and the Lenders shall be entitled to all of the benefits of, and be responsible for all payments to third parties under, such Bankers’ Acceptance and the Lenders shall indemnify and hold harmless the Borrower in respect of all amounts which the Borrower may be required to pay under each such Bankers’ Acceptance to any party other than the Lenders. RBC – AltaLink (AILP) – 2020 Amended and Restated Credit Agreement

Appears in 1 contract

Samples: Assignment and Assumption (Midamerican Funding LLC)

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Outstanding Bankers’ Acceptances. If the Credit Facility is terminated at any time prior to the maturity date of any Bankers' Acceptance issued hereunder, the Borrower shall pay to the Lenders, on demand, an amount with respect to each such Bankers' Acceptance equal to the total amounts which would be required to purchase in the Canadian Dollars market, as of 10:00 a.m. on the date of payment of such demand, Government of Canada treasury bills in an aggregate amount equal to the Face Amount of such Bankers' Acceptance having a term to maturity similar to the period from such demand to maturity of such Bankers' Acceptance. Upon payment by the Borrower as required under this paragraph, the Borrower shall have no further liability in respect of each such Bankers' Acceptance and the Lenders shall be entitled to all of the benefits of, and be responsible for all payments to third parties under, such Bankers' Acceptance and the Lenders shall indemnify and LEGAL_1:22094689.5 hold harmless the Borrower in respect of all amounts which the Borrower may be required to pay under each such Bankers' Acceptance to any party other than the Lenders. RBC – AltaLink (AILP) – 2020 Amended and Restated Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Berkshire Hathaway Energy Co)

Outstanding Bankers’ Acceptances. If the Credit Facility is terminated at any time prior to the maturity date of any Bankers’ Acceptance issued hereunder, the Borrower shall pay to the Lenders, on demand, an amount with respect to each such Bankers’ Acceptance equal to the total amounts which would be required to purchase in the Canadian Dollars market, as of 10:00 a.m. on the date of payment of such demand, Government of Canada treasury bills in an aggregate amount equal to the Face Amount of such Bankers’ Acceptance having a term to maturity similar to the period from such demand to maturity of such Bankers’ Acceptance. Upon payment by the Borrower as required under this paragraph, the Borrower shall have no further liability in respect of each such Bankers’ Acceptance and the Lenders shall be entitled to all of the benefits of, and be responsible for all payments to third parties RBC – AltaLink (AILP) – 2016 Credit Agreement under, such Bankers’ Acceptance and the Lenders shall indemnify and hold harmless the Borrower in respect of all amounts which the Borrower may be required to pay under each such Bankers’ Acceptance to any party other than the Lenders. RBC – AltaLink (AILP) – 2020 Amended and Restated Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Pacificorp /Or/)

Outstanding Bankers’ Acceptances. If the Credit Facility is terminated at any time prior to the maturity date of any Bankers’ Acceptance issued hereunder, the Borrower shall pay to the Lenders, on demand, an amount with respect to each such Bankers’ Acceptance equal to the total amounts which would be required to purchase in the Canadian Dollars market, as of 10:00 a.m. on the date of payment of such demand, Government of Canada treasury bills in an aggregate amount equal to the Face Amount of such Bankers’ Acceptance having a term to maturity similar to the period from such demand to maturity of such Bankers’ Acceptance. Upon payment by the Borrower as required under this paragraph, the Borrower shall have no further liability in respect of each such Bankers’ Acceptance and the Lenders shall be entitled to all of the benefits of, and be responsible for all payments to third parties under, such Bankers’ Acceptance and the Lenders shall indemnify and hold harmless the Borrower in respect of all amounts which the Borrower may be required to pay under each such Bankers’ Acceptance to any party other than the Lenders. RBC – AltaLink (AILP) – 2020 Amended and Restated Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Pacificorp /Or/)

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Outstanding Bankers’ Acceptances. If the Credit Facility is terminated at any time prior to the maturity date of any Bankers’ Acceptance issued hereunder, the Borrower shall pay to the Lenders, on demand, an amount with respect to each such Bankers’ Acceptance equal to the total amounts which would be required to purchase in the Canadian Dollars market, as of 10:00 a.m. on the date of payment of such demand, Government of Canada treasury bills in an aggregate amount equal to the Face Amount of such Bankers’ Acceptance having a term to maturity similar to the period from such demand to maturity of such Bankers’ Acceptance. Upon payment by the Borrower as required under this paragraph, the Borrower shall have no further liability in respect of each such Bankers’ Acceptance and the Lenders shall be entitled to all of the benefits of, and be responsible for all payments to third parties under, such Bankers’ Acceptance and the Lenders shall indemnify and hold harmless the Borrower in respect of all amounts which the Borrower may be required to pay under each such Bankers’ Acceptance to any party other than the Lenders. RBC – AltaLink (AILP) – 2020 Amended and Restated $200M Credit Agreement

Appears in 1 contract

Samples: Assignment and Assumption (Midamerican Funding LLC)

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