Canadian Borrowers definition
Examples of Canadian Borrowers in a sentence
The Canadian Facility shall be available to the Canadian Borrowers and shall be available to be drawn in Dollars or Canadian Dollars, with certain operational and administrative borrowing procedures as reasonably requested by the Canadian Agent, including, for the avoidance of doubt, at least three Business Days’ notice (or, if agreed to by all Lenders, such shorter notice) for any such borrowings in Canadian Dollars.
Subject to limitations and exceptions consistent with and substantially similar to those applicable to the Guarantees, the obligations of the Canadian Borrowers under the Canadian Facility will be jointly and severally guaranteed by each Loan Party and each Canadian Subsidiary on a senior basis (such guarantees, the “Canadian Guarantees”) pursuant to definitive documentation reasonably acceptable to the Canadian Agent and the Borrower Representative.
For the avoidance of doubt, the Canadian Borrowers shall not be jointly or jointly and severally liable with the Borrowers for any liabilities or obligations of the Borrowers under the Facility.
The obligations in respect of the Canadian Facility will be the joint and several obligations of the Canadian Borrowers as between the Canadian Borrowers with respect to extensions of credit made to the Canadian Borrowers.
Subject to and upon the terms and conditions set forth in Schedule 2.9 hereto, each Lender severally agrees, as part of and as a sub-facility under, its Commitment hereunder (but without increasing such Commitment), to make available hereunder (directly or through a lending affiliate of such Lender) to the Canadian Borrowers, at any time and from time to time on or after the Canadian Facility Effective Date and prior to the Termination Date, its pro rata share of the Canadian Facility.