Canadian Letter of Credit Issuer definition

Canadian Letter of Credit Issuer means JPMorgan Chase Bank, N.A., Toronto Branch or any affiliate thereof, or any other Canadian Lender with a Canadian Revolving Credit Commitment designated as the Canadian Letter of Credit Issuer in a written notice from the Canadian Administrative Agent and the Canadian Borrower to the Lenders with a Canadian Revolving Credit Commitment; provided that to the extent that any Canadian Letter of Credit shall be issued for the account of the Borrower, the Canadian Issuing Lender shall, if it is not a “US person” (as defined in Section 7701(a)(30) of the Code), make such Letters of Credit available through its Related Affiliate in accordance with Section 3.1(a), and such Related Affiliate shall be deemed to be the Canadian Letter of Credit Issuer for such purpose.

Canadian Letter of Credit Issuer means such successor issuer effective upon such appointment. At the time such resignation shall become effective, the Canadian Borrower and the Borrower, as applicable shall pay to the resigning Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections 4.1(d ) and (e). After the resignation of the Letter of Credit Issuer hereunder, the resigning Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such resignation, but shall not be required to issue additional Letters of Credit. After any retiring Letter of Credit Issuer’s resignation as Letter of Credit Issuer, the provisions of this Agreement relating to the Letter of Credit Issuer shall inure to its benefit as to any actions taken or omitted to be taken by it (a) while it was Letter of Credit Issuer under this Agreement or (b) at any time with respect to Letters of Credit issued by such Letter of Credit Issuer.

Canadian Letter of Credit Issuer means the Canadian Bank, any Affiliate of the Canadian Bank, Bank of Montreal or any other financial institution, in each case, that issues any Canadian Letter of Credit pursuant to this Agreement; provided that solely for purposes of each Existing Letter of Credit, the entity identified on Schedule 2.4 to this Agreement as the issuer of such Letter of Credit shall be deemed for all purposes of this Agreement to be the Canadian Letter of Credit Issuer and shall have all rights, obligations and privileges of the Canadian Letter of Credit Issuer with respect thereto.

Examples of Canadian Letter of Credit Issuer in a sentence

• Without limitation of the foregoing, each Canadian Lender agrees to reimburse the applicable Canadian Letter of Credit Issuer promptly upon demand for its Pro Rata Share of any costs or expenses payable by the Canadian Borrower to such Canadian Letter of Credit Issuer, to the extent that such Canadian Letter of Credit Issuer is not promptly reimbursed for such costs and expenses by the Canadian Borrower.

• Any reference to a “Letter of Credit Issuer” shall refer to a U.S. Letter of Credit Issuer with respect to the U.S. Revolving Facility and a Canadian Letter of Credit Issuer with respect to the Canadian Revolving Facility, as applicable.

• If the Canadian Letter of Credit Issuer shall resign as Canadian Letter of Credit Issuer under this Agreement, then the Canadian Borrower shall appoint from among the Lenders with Canadian Revolving Credit Commitments a successor issuer of Canadian Letters of Credit, whereupon such successor issuer shall succeed to the rights, powers and duties of the Canadian Letter of Credit Issuer, and the term “Canadian Letter of Credit Issuer” shall mean such successor issuer effective upon such appointment.

• Without limitation of the foregoing, each Canadian Lender agrees to reimburse the Canadian Letter of Credit Issuer promptly upon demand for its Pro Rata Share of any costs or expenses payable by the Canadian Borrower to the Canadian Letter of Credit Issuer, to the extent that the Canadian Letter of Credit Issuer is not promptly reimbursed for such costs and expenses by the Canadian Borrower.

• Each of the Canadian Lenders authorizes and requests each Canadian Letter of Credit Issuer to issue the Canadian Letters of Credit provided for in Section 2.4 and to grant each Canadian Lender a participation in each of such Canadian Letters of Credit in an amount equal to its Percentage Interest in the amount of each such Canadian Letter of Credit.

More Definitions of Canadian Letter of Credit Issuer

Canadian Letter of Credit Issuer means the Canadian Bank, any affiliate of the Canadian Bank or any other Canadian Lender or Affiliate of a Canadian Lender that issues any Canadian Letter of Credit pursuant to this Agreement and agrees to provide reporting with respect to Canadian Letters of Credit reasonably required by the Agent.

Canadian Letter of Credit Issuer means such successor issuer effective upon such appointment. At the time such resignation shall become effective, the Canadian Borrower shall pay to the resigning Canadian Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections 4.1(e) and (f). The acceptance of any appointment as the Canadian Letter of Credit Issuer hereunder by a successor Lender shall be evidenced by an agreement entered into by such successor, in a form satisfactory to the Canadian Borrower and the Canadian Administrative Agent and, from and after the effective date of such agreement, such successor Lender shall have all the rights and obligations of the previous Canadian Letter of Credit Issuer under this Agreement and the other Credit Documents. After the resignation of any Letter of Credit Issuer hereunder, the resigning Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement and the other Credit Documents with respect to Letters of Credit issued by it prior to such resignation, but shall not be required to issue additional Letters of Credit. After any retiring Letter of Credit Issuer’s resignation as a Letter of Credit Issuer, the provisions of this Agreement relating to such Letter of Credit Issuer shall inure to its benefit as to any actions taken or omitted to be taken by it (a) while it was a Letter of Credit Issuer under this Agreement or (b) at any time with respect to Letters of Credit issued by such Letter of Credit Issuer.

Canadian Letter of Credit Issuer means The Bank of Nova Scotia or any successor pursuant to Section 3.6. The Canadian Letter of Credit Issuer may, in its discretion, arrange for one or more Canadian Letters of Credit to be issued by one or more Affiliates of the Canadian Letter of Credit Issuer each of which is a Canadian Resident, and in each such case the term “Canadian Letter of Credit Issuer” shall include any such Affiliate with respect to Canadian Letters of Credit issued by such Affiliate. In the event that there is more than one Canadian Letter of Credit Issuer at any time, references herein and in the other Credit Documents to the Canadian Letter of Credit Issuer shall be deemed to refer to the Canadian Letter of Credit Issuer in respect of the applicable Canadian Letter of Credit or to all Canadian Letter of Credit Issuers, as the context requires.

Canadian Letter of Credit Issuer means BMO, or such other Lender as may be approved by Agent (such consent not to be unreasonably withheld) to issue Canadian Lender Letters of Credit hereunder.

Canadian Letter of Credit Issuer means, for any Letter of Credit, Bank of America Canada or, in the event Bank of America Canada does not for any reason issue a requested Canadian Letter of Credit, another Canadian Lender selected by the Canadian Borrower to issue such Canadian Letter of Credit.

Canadian Letter of Credit Issuer means Credit Suisse First Boston Toronto Branch or any successor pursuant to Section 3.6. The Canadian Letter of Credit Issuer may, in its discretion, arrange for one or more Canadian Letters of Credit to be issued by one or more Affiliates of the Canadian Letter of Credit Issuer each of which is a Canadian Resident, and in each such case the term “Canadian Letter of Credit Issuer” shall include any such Affiliate with respect to Canadian Letters of Credit issued by such Affiliate. In the event that there is more than one Canadian Letter of Credit Issuer at any time, references herein and in the other Credit Documents to the Canadian Letter of Credit Issuer shall be deemed to refer to the Canadian Letter of Credit Issuer in respect of the applicable Canadian Letter of Credit or to all Canadian Letter of Credit Issuers, as the context requires.

Canadian Letter of Credit Issuer means Royal Bank or any affiliate of Royal Bank.