Common use of Waiver of Presentment and Other Conditions Clause in Contracts

Waiver of Presentment and Other Conditions. Each Canadian Borrower waives presentment for payment and any other defense to payment of any amounts due to a Canadian Lender in respect of a Bankers’ Acceptance or other B/A Instrument purchased by it pursuant to this Agreement which might exist solely by reason of the Bankers’ Acceptance or other B/A Instrument being held, at the maturity thereof, by the Canadian Lender in its own right and each Canadian Borrower agrees not to claim any days of grace if the Canadian Lender as holder sues such Canadian Borrower on the Bankers’ Acceptance or other B/A Instrument for payment of the amount payable by the Canadian Borrower thereunder. Except for the requirement to pay immediately upon acceleration of the Canadian RCF Loans pursuant to Section 9, the applicable Canadian Borrower shall pay to the Canadian Lender that has purchased such B/A Instrument the full face amount of such B/A Instrument on the specified 107 maturity date of a B/A Instrument, and after such payment, the applicable Canadian Borrower shall have no further liability in respect of such B/A Instrument and the Canadian Lender shall be entitled to all benefits of, and be responsible for all payments due to third parties under, such B/A Instrument.

Waiver of Presentment and Other Conditions. Each Canadian Borrower waives presentment for payment and any other defense to payment of any amounts due to a Canadian RCF Lender in respect of a Bankers’ Acceptance or other B/A Instrument purchased by it pursuant to this Agreement which might exist solely by reason of the Bankers’ Acceptance or other B/A Instrument being held, at the maturity thereof, by the Canadian RCF Lender in its own right and each Canadian Borrower agrees not to claim any days of grace if the Canadian RCF Lender as holder sues such Canadian Borrower on the Bankers’ Acceptance or other B/A Instrument for payment of the amount payable by the Canadian Borrower thereunder. Except for the requirement to pay immediately upon acceleration of the Canadian RCF Loans pursuant to Section 9, the applicable Canadian Borrower shall pay to the Canadian RCF Lender that has purchased such B/A Instrument the full face amount of such B/A Instrument on the specified 107 maturity date of a B/A Instrument, and after such payment, the applicable Canadian Borrower shall have no further liability in respect of such B/A Instrument and the Canadian RCF Lender shall be entitled to all benefits of, and be responsible for all payments due to third parties under, such B/A Instrument.

Waiver of Presentment and Other Conditions. Each Canadian Borrower waives presentment for payment and any other defense to payment of any amounts due to a Canadian Lender in respect of a Bankers’ ' Acceptance or other B/A Instrument purchased by it pursuant to this Agreement which might exist solely by reason of the Bankers’ ' Acceptance or other B/A Instrument being held, at the maturity thereof, by the Canadian Lender in its own right and each Canadian Borrower agrees not to claim any days of grace if the Canadian Lender as holder sues such Canadian Borrower on the Bankers’ ' Acceptance or other B/A Instrument for payment of the amount payable by the Canadian Borrower thereunder. Except for the requirement to pay immediately upon acceleration of the Canadian RCF Loans pursuant to Section 9, the applicable Canadian Borrower shall pay to the Canadian Lender that has purchased such B/A Instrument the full face amount of such B/A Instrument on the specified 107 maturity date of a B/A Instrument, and after such payment, the applicable Canadian Borrower shall have no further liability in respect of such B/A Instrument and the Canadian Lender shall be entitled to all benefits of, and be responsible for all payments due to third parties under, such B/A Instrument.

Waiver of Presentment and Other Conditions. Each Canadian Borrower waives presentment for payment and any other defense to payment of any amounts due to a Canadian Lender in respect of a Bankers’ Acceptance or other B/A Instrument purchased by it pursuant to this Agreement which might exist solely by reason of the Bankers’ Acceptance or other B/A Instrument being held, at the maturity thereof, by the Canadian Lender in its own right and each Canadian Borrower agrees not to claim any days of grace if the Canadian Lender as holder sues such Canadian Borrower on the Bankers’ Acceptance or other B/A Instrument for payment of the amount payable by the Canadian Borrower thereunder. Except for the requirement to pay immediately upon acceleration of the Canadian RCF Loans pursuant to Section 9, the applicable Canadian Borrower shall pay to the Canadian Lender that has purchased such B/A Instrument the full face amount of such B/A Instrument on the specified 107 maturity date of a B/A Instrument, and after such payment, the applicable Canadian Borrower shall have no further liability in respect of such B/A Instrument and the Canadian Lender shall be entitled to all benefits of, and be responsible for all payments due to third parties under, such B/A Instrument.