Examples of Canadian LC Exposure in a sentence
These, together with the triple found in case 3, form the astral [6, 4] configurations listed in the theorem.The type 1 astral (606, 904) configuration 30#81 107 1312 has been exhibited in Figure10.
A Canadian Letter of Credit shall be issued, amended, renewed or extended only if, and upon issuance, amendment, renewal or extension of each Canadian Letter of Credit, the Canadian Borrower shall be deemed to represent and warrant that after giving effect to such issuance, amendment, renewal or extension (i) the Canadian L/C Exposure shall not exceed the Canadian Dollar Equivalent of U.S.$7,500,000 and (ii) the aggregate Canadian Credit Exposure shall not exceed the Total Canadian Commitment.
Moneys in such account shall (i) automatically be applied by the Applicable Administrative Agent to reimburse the Applicable Issuing Bank for L/C Disbursements for which it has not been reimbursed, (ii) be held for the satisfaction of the reimbursement obligations of the applicable Borrower for the U.S. L/C Exposure or the Canadian L/C Exposure, as applicable, at such time and (iii) if the maturity of the Loans has been accelerated, be applied to satisfy the Obligations.
In the event of any termination of all the U.S. Commitments or Canadian Commitments, the applicable Borrower shall, on the date of such termination, repay or prepay all its outstanding Borrowings and replace all outstanding Letters of Credit and/or deposit an amount equal to the sum of the U.S. L/C Exposure and the Canadian L/C Exposure in cash in a cash collateral account established with the Collateral Agent for the benefit of the Secured Parties.
For purposes of calculating Canadian L/C Exposure with respect to Canadian Letters of Credit denominated in any Foreign Currency, such amounts shall be converted to the Dollar Equivalent thereof on each Revaluation Date.