U.S. Protective Advances. Agent shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, to make U.S. Base Rate Loans to U.S. Borrowers (“U.S. Protective Advances”) (i) up to an aggregate amount, when combined with all U.S. Overadvances and all other U.S. Protective Advances, of 10% of the U.S. Borrowing Base outstanding at any time, if Agent deems such Loans necessary or desirable to preserve or protect U.S. Facility Collateral, or to enhance the collectability or repayment of the U.S. Facility Obligations, as long as such Loans do not cause U.S. Revolver Usage to exceed the U.S. Borrowing Base; or (ii) to pay any other amounts chargeable to U.S. Facility Obligors under any of the Loan Documents, including interest, costs, fees and expenses. U.S. Lenders shall participate on a Pro Rata basis in U.S. Protective Advances outstanding from time to time. Required Lenders may at any time revoke Agent’s authority to make further U.S. Protective Advances under clause (i) by written notice to Agent. Absent such revocation, Agent’s determination that funding of a U.S. Protective Advance is appropriate shall be conclusive. All U.S. Protective Advances shall be U.S. Facility Obligations and secured by the U.S. Facility Collateral.
U.S. Protective Advances. Agent shall be authorized by each US Borrower and each US Facility Lender, from time to time in Agent’s sole discretion (but shall have absolutely no obligation), to make US Base Rate Loans to the US Borrowers on behalf of the US Facility Lenders (any of such Loans are herein referred to as “US Protective Advances”) which Agent, in its Permitted Discretion, deems necessary or desirable to (i) preserve or protect US Collateral or any portion thereof or (ii) enhance the likelihood of, or maximize the amount of, repayment of the US Facility Loans and other US Facility Obligations; provided, that no US Protective Advance shall cause the Total US Facility Exposure to exceed the US Facility Commitments then in effect. All US Protective Advances made by Agent shall be US Obligations, secured by the US Collateral and shall be treated for all purposes as US Base Rate Loans.
U.S. Protective Advances. Agent shall be authorized, in its discretion to make advances (“US Protective Advances”) (a) if Agent deems such advances are necessary or desirable to preserve or protect US Collateral, or to enhance the collectability or repayment of US Obligations; or (b) to pay any other amounts chargeable to US Obligors under any Loan Documents, including interest, costs, fees and expenses. Lenders shall participate on a Pro Rata basis in US Protective Advances outstanding from time to time. The US Protective Advances shall constitute “Term Loans” for all purposes under the Loan Documents, shall constitute “Obligations” and shall be secured by the Collateral. The Required Lenders may at any time revoke Agent’s authority to make further US Protective Advances. Absent such revocation, Agent’s determination that funding of a US Protective Advance is appropriate shall be conclusive.
U.S. Protective Advances. Agent shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, to make US Base Rate Loans (“US Protective Advances”) (a) up to an aggregate amount of 10% of the US Revolver Commitments outstanding at any time (disregarding any decreased Revolver Commitment amount during the Seasonal Period), if Agent deems such US Revolver Loans are necessary or desirable to preserve or protect US Collateral, or to enhance the collectability or repayment of US Obligations, as long as such Revolver Loans do not cause US Revolver Usage to exceed the aggregate US Revolver Commitments; or (b) to pay any other amounts chargeable to US Obligors under any Loan Documents, including interest, costs, fees and expenses. Lenders shall participate on a Pro Rata basis in US Protective Advances outstanding from time to time. US Required Lenders may at any time revoke Agent’s authority to make further US Protective Advances under clause (a) by written notice to Agent. Absent such revocation, Agent’s determination that funding of a US Protective Advance is appropriate shall be conclusive.
U.S. Protective Advances. The Agent shall be authorized by each U.S. Borrower and the U.S. Lenders, from time to time in the Agent’s discretion (but shall have absolutely no obligation to), to make U.S. Base Rate Loans to the U.S. Borrowers on behalf of the U.S. Lenders (any of such Loans are herein referred to as “U.S. Protective Advances”) which the Agent deems necessary or desirable to (i) preserve or protect U.S. Facility Collateral or any portion thereof or (ii) to enhance the likelihood of, or maximize the amount of, repayment of the U.S. Revolver Loans and other U.S. Facility Obligations; provided that no U.S. Protective Advance shall cause the aggregate amount of the U.S. Revolver Exposure at such time to exceed the U.S. Revolver Commitments then in effect. All U.S. Protective Advances made by the Agent with respect to U.S. Domiciled Loan Parties shall be U.S. Facility Obligations, secured by the U.S. Facility Collateral and shall be treated for all purposes as U.S. Base Rate Loans.
U.S. Protective Advances. Agent shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, to make US Base Rate Loans (“US Protective Advances”) (a) up to an aggregate amount of 10% of the US Revolver Commitments outstanding at any time, if Agent deems such US Revolver Loans are necessary or desirable to preserve or protect US Collateral, or to enhance the collectability or repayment of US Obligations, as long as such Revolver Loans do not cause US Revolver Usage to exceed the aggregate US Revolver Commitments; or (b) to pay any other amounts chargeable to US Obligors under any Loan Documents, including interest, costs, fees and expenses. Lenders shall participate on a Pro Rata basis in US Protective Advances outstanding from time to time. US Required Lenders may at any time revoke Agent’s authority to make further US Protective Advances under clause (a) by written notice to Agent. Absent such revocation, Agent’s determination that funding of a US Protective Advance is appropriate shall be conclusive.
U.S. Protective Advances. Agent shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, to make U.S. Revolver Loans (“U.S. Protective Advances”) (a) up to an aggregate amount equal to 10% of the U.S. Borrowing Base outstanding at any time, if Agent deems such U.S. Revolver Loans necessary or desirable to preserve or protect Collateral, or to enhance the collectability or repayment of Obligations, as long as such U.S. Revolver Loans do not cause U.S. Revolver Usage to exceed the aggregate U.S. Revolver Commitments; or (b) to pay any other amounts chargeable to U.S. Obligors under any Loan Documents, including interest, costs, fees and expenses. U.S. Lenders shall participate on a Pro Rata basis in U.S. Protective Advances outstanding from time to time. Required Lenders may at any time revoke Agent’s authority to make further U.S. Protective Advances under clause (a) by written notice to Agent. Absent such revocation, Agent’s determination that funding of a U.S. Protective Advance is appropriate shall be conclusive.
U.S. Protective Advances. Agent shall be authorized, in its discretion, including at any time that any conditions in Section 6 are not satisfied, to make US Base Rate Loans (“US Protective Advances”) (i) up to an aggregate outstanding amount (when aggregated with any outstanding US Overadvance) of 10% of the US Revolver Commitments outstanding at any time, if Agent deems such US Revolver Loans are necessary or desirable to preserve or protect US Collateral, or to enhance the collectability or repayment of US Obligations; or (i) to pay any other amounts chargeable to US Facility Grantors under any Loan Documents, including interest, costs, fees and expenses; as long as all such US Protective Advances do not cause US Revolver Usage to exceed the aggregate US Revolver Commitments. Lenders shall participate on a Pro Rata basis in US Protective Advances outstanding from time to time. US Required Lenders may at any time revoke Agent’s authority to make further US Protective Advances under clause (i) by written notice to Agent. Absent such revocation, Agent’s determination that funding of a US Protective Advance is appropriate shall be conclusive. No funding of a US Protective Overadvance shall constitute a waiver by Agent or Lenders of the Event of Default relating thereto. No Obligor shall be a beneficiary of this Section nor authorized to enforce any of its terms.
U.S. Protective Advances. (i) Subject to the limitations set forth below, the U.S. Administrative Agent is authorized by the U.S. Borrowers and the U.S. Lenders, from time to time in the U.S. Administrative Agent’s sole discretion (but shall have absolutely no obligation to), to make Loans to the U.S. Borrowers, on behalf of all U.S. Lenders, which the U.S. Administrative Agent, in its Permitted Discretion, deems necessary or desirable (i) to preserve or protect the Collateral, or any portion thereof, (ii) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations, or (iii) to pay any other amount chargeable to or required to be paid by the U.S. Borrowers pursuant to the terms of this Agreement, including payments of principal, interest, LC Disbursements, fees, premiums, reimbursable expenses (including costs, fees and expenses as described in Section 9.04) and other sums payable under the Loan Documents (any of such Loans are herein referred to as “U.S. Protective Advances”); provided that no U.S. Protective Advance shall cause the U.S. Exposure to exceed the aggregate of the U.S. Commitments; provided further that, the aggregate amount of U.S. Protective Advances outstanding at any time, which were made pursuant to clauses (i) and (ii) above, shall not at any time exceed U.S.$5,000,000. U.S. Protective Advances may be made even if the conditions precedent set forth in Section 4.02 have not been satisfied. The U.S. Protective Advances shall be secured by the Liens in favor of the U.S. Administrative Agent in and to the Collateral and shall constitute Obligations hereunder. All U.S. Protective Advances shall be ABR Borrowings. The U.S. Administrative Agent’s authorization to make U.S. Protective Advances may be revoked at any time by the Required Lenders. Any such revocation must be in writing and shall become effective prospectively upon the U.S. Administrative Agent’s receipt thereof. At any time that there is sufficient U.S. Availability and the conditions precedent set forth in Section 4.02 have been satisfied, the U.S. Administrative Agent may request the U.S. Lenders to make a Revolving Loan to repay a U.S. Protective Advance. At any other time the U.S. Administrative Agent may require the Lenders to fund their risk participations described in Section 2.06(a)(ii).
