Examples of B/A Equivalent Loan in a sentence
On the date of maturity of each Bankers’ Acceptance or B/A Equivalent Loan, the applicable Canadian Borrower shall pay to the Administrative Agent, for the account of each of the applicable Revolving Lenders, in Canadian Dollars, an amount equal to the full face amount of such Bankers’ Acceptance or B/A Equivalent Loan, as the case may be.
To facilitate such payment, each such Revolving Lender shall be entitled to deduct and retain for its own account the amount of such B/A Fee from the amount to be transferred by such Revolving Lender to the Administrative Agent for the account of the applicable Canadian Borrower pursuant to this Agreement in respect of the purchase of the related Bankers’ Acceptance or of such B/A Equivalent Loan.
Upon acceptance of each Bankers’ Acceptance or the making of each B/A Equivalent Loan, the applicable Canadian Borrower shall pay to the applicable Revolving Lenders the B/A Fee.
The Canadian Borrowers shall not claim from a Revolving Lender any days of grace for the payment at maturity of any Bankers’ Acceptance or B/A Equivalent Loan accepted by the Revolving Lenders pursuant to this Agreement.
The B/A Equivalent Loan shall have a term equal to the term of the Bankers’ Acceptances that the Non-B/A Lender would otherwise have accepted and the applicable Canadian Borrower shall, at the end of that term, be obligated to pay the Non-B/A Lender an amount equal to the aggregate face amount of the Bankers’ Acceptances that it would otherwise have accepted.