Canadian Advance definition

Canadian Advance means an advance denominated in a Designated Currency as a part of a Canadian Borrowing and refers to either a Canadian (US) Base Rate Advance, a Canadian (Cdn) Base Rate Advance, a Eurocurrency Advance, or a B/A accepted and purchased by a Canadian Facility Lender pursuant to Section 2.18 and B/A Equivalent Advances made by a Lender pursuant to Section 2.18.

Canadian Advance means a borrowing hereunder (a) made by some or all of the Canadian Lenders on the same Borrowing Date or (b) converted or continued by the Canadian Lenders on the same date of conversion or continuation, consisting, in either case, of the aggregate amount of the Canadian Revolving Loans of the same Type and, in the case of the Canadian Fixed Rate Loans, for the same Interest Period. The term “Canadian Advance” shall include Protective Advances made by the Canadian Correspondent Lender.

Canadian Advance means an advance under the Canadian Facility made in Canadian Dollars or US Dollars to a Canadian Borrower and refers to a Canadian Prime Rate Advance, a Base Rate Advance or a Eurocurrency Rate Advance (each of which shall be a “Type” of Canadian Advance).

Examples of Canadian Advance in a sentence

• Each Syndicated Canadian Advance which is a Eurocurrency Rate Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Eurocurrency Rate Advance.

• Each Syndicated Canadian Advance which is a CDOR Advance shall be discounted over the relevant Interest Period at CDOR.

• Each Borrower shall select the Type of Syndicated Global Advance or Syndicated Canadian Advance and, in the case of each Eurocurrency Rate Advance or CDOR Advance, the Interest Period and permitted currency applicable to each Syndicated Global Advance, Syndicated Canadian Advance and CDOR Advance from time to time.

• Each Syndicated Canadian Advance which is a Base Rate Advance shall bear interest from and including the date of the making of such Advance to (but not including) the date of repayment thereof at the applicable Alternate Base Rate, changing when and as such Alternate Base Rate changes, plus the Floating Rate Margin.

• If the Canadian Borrower at any time fails to repay a Canadian Swing Line Loan made to such Borrower on the applicable date when due, such Borrower shall be deemed to have elected to borrow a Syndicated Canadian Advance which shall be a Canadian Prime Rate Advance under Section 2.2 as of such date equal in amount to the unpaid amount of such Canadian Swing Line Loan (notwithstanding the minimum amount of Canadian Prime Rate Advances as provided in Section 2.7).

More Definitions of Canadian Advance

Canadian Advance means any advance or conversion under the Credit Facility requested by the Borrower in Canadian Funds and advanced by Royal in Canadian Funds;

Canadian Advance means a Canadian Contract Advance or a Canadian Competitive Advance.

Canadian Advance means an advance by a Lender as part of a Canadian Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Advance and shall be deemed to include any Canadian Protective Advance made hereunder.

Canadian Advance means (a) an advance denominated in Canadian Dollars as a part of a Borrowing and refers to either a Canadian Base Rate Advance or a Eurocurrency Advance and (b) a B/A accepted and purchased by a Lender pursuant to Section 2.18 and B/A Equivalent Advances made by a Lender pursuant to Section 2.18.

Canadian Advance means a borrowing under the Canadian Revol- ving Credit Facility consisting of the aggregate principal amount of a Domestic Base Rate Loan, Canadian Prime Rate Loan or a Fixed Rate Loan;

Canadian Advance means an Advance to Canadian Borrower.

Canadian Advance means collectively any advance to Westcon Canada or all such advances hereunder.