Examples of Canadian Base Rate Advance in a sentence
The Canadian Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the Canadian Lenders to make such Canadian Base Rate Advances, to transfer the proceeds thereof to Canadian Issuing Lender in satisfaction of such obligations, and to record and otherwise treat such payments as a Canadian Base Rate Advance to the Canadian Borrower.
During such periods as such Advance is a Canadian Base Rate Advance, a rate per annum equal at all times to the sum of (A) the Canadian Base Rate in effect from time to time plus (B) the Applicable Margin for Canadian Base Rate Advances in effect from time to time, payable in arrears quarterly on the first day of each October, January, April and July during such periods and on the date such Canadian Base Rate Advance shall be Converted or paid in full.
Such Advance shall be a Base Rate Advance, a Canadian Base Rate Advance or a Local Rate Advance, as the case may be, and shall be considered, for all purposes of this Agreement, to comprise part of the Borrowing in connection with which such Defaulted Advance was originally required to have been made pursuant to Section 2.01, even if the other Advances comprising such Borrowing shall be Eurocurrency Rate Advances on the date such Advance is deemed to be made pursuant to this subsection (a).
Each Canadian Base Rate Advance shall bear interest at the applicable Canadian Base Rate in effect from time to time plus the Applicable Margin for Canadian Base Rate Advances for such period, provided that while an Event of Default is continuing the Canadian Base Rate Advances shall bear interest at the applicable Canadian Base Rate in effect from time to time plus the Applicable Margin plus 2%.
Each Canadian Base Rate Advance shall bear interest at the applicable Canadian Base Rate in effect from time to time plus the Applicable Margin for Canadian Base Rate Advances for such period.
If the Canadian Borrower does not deliver to the Canadian Funding Agent one or more of the notices contemplated by Section 3.4 or does not give the notice and make the deposit contemplated by Section 3.4(e)(iii), the Canadian Borrower shall be deemed to have requested that the part of the BA Advance then outstanding which is reaching maturity be converted into a Canadian Base Rate Advance on the Canadian Prime Rate basis.
Any resulting amount by which the requested face amount of any such Bankers’ Acceptance shall have been so reduced shall be advanced, converted or continued, as the case may be, as a Canadian Base Rate Advance on the Canadian Prime Rate basis, to be made contemporaneously with the BA Advance.