Common use of Procedure for Drawing Clause in Contracts

Procedure for Drawing. (1) Each Drawing shall be made on notice (a “Drawing Notice”) given by the Canadian Borrower to the Agent not later than 11:00 a.m. (Toronto time) on the number of days’ notice specified in Schedule 5. Each Drawing Notice shall be in substantially the form of Schedule 3, shall be irrevocable, except as provided in Section 4.06(1), shall be binding on the Canadian Borrower and shall specify (i) the Drawing Date; (ii) the aggregate Face Amount of Drafts to be accepted, if applicable, and purchased; and (iii) the term thereof.

Procedure for Drawing. (1) Each Drawing shall be made on notice (a “Drawing Notice”) given by the Canadian Borrower to the Administrative Agent not later than 11:00 a.m. (Toronto time) on the number of days’ days notice specified in Schedule 54. Each Drawing Notice shall be in substantially the form of Schedule 3, shall be irrevocable, except as provided in Section 2.13(2) and Section 4.06(1), shall be binding on the Canadian applicable Borrower and shall specify (i) the Drawing Date; (ii) the aggregate Face Amount of Drafts to be accepted, if applicable, and purchased; and (iii) the term thereof.