Common use of THE CANADIAN COMMITMENTS Clause in Contracts

THE CANADIAN COMMITMENTS. 3.1 The Canadian Commitments. Subject to the terms and conditions hereof, each C$ Bank severally agrees to make revolving credit loans ("C$ R/C Loans") (which shall be C$ Prime Loans) to, and to accept Bankers' Acceptances from, CCCL from time to time during the Commitment Period. During the Commitment Period, CCCL may use the Canadian Commitment of each C$ Bank by borrowing, prepaying or repaying the C$ R/C Loans or Bankers' Acceptances of such Bank, in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof; provided that no C$ R/C Loans or Bankers' Acceptances may be made or accepted on or after the Termination Date (it being understood that continuations and conversions of outstanding C$ R/C Loans and Bankers' Acceptances shall be permitted on and after the Termination Date in accordance with Section 3.4). Notwithstanding anything to the contrary contained in this Agreement, in no event may C$ R/C Loans or Bankers' Acceptances be borrowed or issued under this Section 3.1 if, after giving effect thereto and the application of the proceeds thereof, the Aggregate Canadian Extensions of Credit of any C$ Bank then outstanding would exceed such C$ Bank's Canadian Commitment. 3.2 Procedure for C$ R/C Loan Borrowing. CCCL may borrow C$ R/C Loans during the Commitment Period on any Business Day, provided that CCCL shall give the Canadian Administrative Agent irrevocable notice (which notice must be received by the Canadian Administrative Agent prior to 12:00 noon, Toronto time, one Business Day prior to the requested Borrowing Date, specifying (a) the amount to be borrowed and (b) the requested Borrowing Date. Upon receipt of such notice, the Canadian Administrative Agent shall promptly notify each C$ Bank thereof. Not later than 2:00 P.M., Toronto time, on the Borrowing Date specified in such notice, each C$ Bank shall make the amount of its share of such borrowing available to the Canadian Administrative Agent for the account of CCCL at the office of the Canadian Administrative Agent specified in Section 12.2 and in funds immediately available to the Canadian Administrative Agent. Each borrowing pursuant to this Section 3.2 shall be in an aggregate principal amount of the lesser of (i) C$5,000,000 or an integral multiple of C$100,000 in excess thereof or (ii) the amount in C$ which has a US$ Equivalent equal to the then aggregate Available Canadian Commitments.

THE CANADIAN COMMITMENTS. 3.1 The Canadian Commitments. Subject to the terms and conditions hereof, each C$ Bank severally agrees to make revolving credit loans ("C$ R/C Loans") (which shall be C$ Prime Loans) to, and to accept Bankers' Acceptances from, CCCL from time to time during the Commitment Period. During the Commitment Period, CCCL may use the Canadian Commitment of each C$ Bank by borrowing, prepaying or repaying the C$ R/C Loans or Bankers' Acceptances of such Bank, in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof; provided that no C$ R/C Loans or Bankers' Acceptances may be made or accepted on or after the Termination Date (it being understood that continuations and conversions of outstanding C$ R/C Loans and Bankers' Acceptances shall be permitted on and after the Termination Date in accordance with Section 3.4). Notwithstanding anything to the contrary contained in this Agreement, in no event may C$ R/C Loans or Bankers' Acceptances be borrowed or issued under this Section 3.1 if, after giving effect thereto and the application of the proceeds thereof, the Aggregate Canadian Extensions of Credit of any C$ Bank then outstanding would exceed such C$ Bank's Canadian Commitment. 3.2 Procedure for C$ R/C Loan Borrowing. CCCL may borrow C$ R/C Loans during the Commitment Period on any Business Day, provided that CCCL shall give the Canadian Administrative Agent irrevocable notice (which notice must be received by the Canadian Administrative Agent prior to 12:00 noon, Toronto time, one Business Day prior to the requested Borrowing Date, specifying (a) the amount to be borrowed and (b) the requested Borrowing Date. Upon receipt of such notice, the Canadian Administrative Agent shall promptly notify each C$ Bank thereof. Not later than 2:00 P.M., Toronto time, on the Borrowing Date specified in such notice, each C$ Bank shall make the amount of its share of such borrowing available to the Canadian Administrative Agent for the account of CCCL at the office of the Canadian Administrative Agent specified in Section 12.2 13.2 and in funds immediately available to the Canadian Administrative Agent. Each borrowing pursuant to this Section 3.2 shall be in an aggregate principal amount of the lesser of (i) C$5,000,000 or an integral multiple of C$100,000 in excess thereof or (ii) the amount in C$ which has a US$ Equivalent equal to the then aggregate Available Canadian Commitments.