Common use of Reference Lenders Clause in Contracts

Reference Lenders. If more than three Lenders are banks named on Schedule I of the Bank Act (Canada), the Agent shall be a Schedule I Reference Lender and each of the Agent and CHC shall designate a different Lender named on Schedule I to be a Schedule I Reference Lender for the purpose of quoting rates to be used in determining the Prime Rate, Base Rate for US Dollars, LIBOR Rate and BA Discount Rate. If more than two Lenders are not banks named on Schedule I of the Bank Act (Canada) but accept Bankers' Acceptances, the Agent and CHC shall each designate a different such Lender to be an Other Reference Lender for the purpose of quoting rates to be used in determining the BA Discount Rate. If any Schedule I Reference Lender or Other Reference Lender ceases to be a Lender or ceases to accept Bankers' Acceptances, the person that originally designated that Reference Lender shall have the right to designate in a timely manner another qualified Lender as a replacement Reference Lender, failing which the applicable Prime Rate, Base Rate for US Dollars, LIBOR Rate and BA Discount Rate hereunder shall be determined on the basis of the rates provided by the notice from the relevant remaining Reference Lender(s). If three or fewer Lenders are banks named on Schedule I of the Bank Act (Canada), all such Lenders shall be deemed to be the Schedule I Reference Lenders and any applicable Prime Rate, Base Rate, LIBOR Rate and BA Discount Rate hereunder shall be determined on the basis of the discount rate provided by those Lenders. If two or fewer Lenders are not banks named on Schedule I of the Bank Act (Canada) but accept Bankers' Acceptances, all such Lenders shall be deemed to be an Other Reference Lender and any applicable BA Discount Rate hereunder shall be determined on the basis of the discount rate provided by those Lenders. If no Lender is qualified to be a particular Reference Lender, any applicable BA Discount Rate hereunder shall be determined on the basis of the average rate for bankers' acceptances of the relevant term that appears on the Reuters Screen CDOR Page at 10:00 a.m. Toronto time on the Drawdown Date plus 0.10% per annum.

Reference Lenders. If more than three Lenders are banks named on Schedule I of the Bank Act (Canada), the Agent shall be a Schedule I Reference Lender and each of the Agent and CHC shall designate a different Lender named on Schedule I to be a Schedule I Reference Lender for the purpose of quoting rates to be used in determining the Prime Rate, Base Rate for US Dollars(US), LIBOR Rate and BA Discount Rate. If more than two Lenders are not banks named on Schedule I II of the Bank Act (Canada) but accept Bankers' Acceptances), the Agent and CHC shall each designate a different such Lender named on Schedule II to be an Other a Schedule II Reference Lender for the purpose of quoting rates to be used in determining the BA Discount Rate. If any Schedule I Reference Lender or Other Schedule II Reference Lender ceases to be a Lender or ceases to accept Bankers' Acceptances, the person that originally designated that Reference Lender shall have the right to designate in a timely manner another qualified Lender that is a bank chartered under and referred to in Schedule I or Schedule II, as applicable, of the Bank Act (Canada) as a replacement Reference Lender, failing which the applicable Prime Rate, Base Rate for US Dollars(US), LIBOR Rate and BA Discount Rate hereunder shall be determined on the basis of the rates provided by the notice from the relevant remaining Reference Lender(s). If three or fewer Lenders are banks named on Schedule I of the Bank Act (Canada), all such Lenders shall be deemed to be the Schedule I Reference Lenders Lender and any applicable Prime Rate, Base RateRate (US), LIBOR Rate and BA Discount Rate hereunder shall be determined on the basis of the discount rate provided by those -60- Lenders. If two or fewer Lenders are not banks named on Schedule I II of the Bank Act (Canada) but accept Bankers' Acceptances), all such Lenders shall be deemed to be an Other the Schedule II Reference Lender and any applicable BA Discount Rate hereunder shall be determined on the basis of the discount rate provided by those Lenders. If no Lender is qualified to be a particular Reference Lenderbank named on Schedule I, or Schedule II as the case may be, of the Bank Act (Canada), any applicable BA Discount Rate hereunder shall be determined on the basis of the average rate for bankers' bankers acceptances of the relevant term that appears on the Reuters Screen CDOR Page at 10:00 a.m. Toronto time on the Drawdown Date plus 0.10% per annum.