Canadian Loan Account definition

Canadian Loan Account has the meaning specified therefor in Section 2.9 of the Agreement.
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Canadian Loan Account is defined in Section 2.8.
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Canadian Loan Account as defined in Section 3.6 of the Agreement.
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Examples of Canadian Loan Account in a sentence

  • In accordance with Section 2.7, the Canadian Loan Account will be credited with all payments received by Canadian Agent from Canadian Borrowers or for Canadian Borrowers’ account.

  • Canadian Agent may at its option, offset such credit balance with respect to the Canadian Loan Account against any of the Canadian Obligations upon and during the continuance of an Event of Default.

  • Canadian Loan Account - as defined in subsection 3.6 of the Agreement.

  • The aggregate of the U.S. Loan Account and the Canadian Loan Account.

  • If as the result of collections of Accounts authorized by Section 6.2.4 hereof or otherwise, a credit balance exists in the Canadian Loan Account, such credit balance shall not accrue interest in favor of Canadian Borrower, but shall be disbursed to Canadian Borrower or otherwise at Borrower Representative's direction in the manner set forth in Section 3.1.2, upon Borrower Representative's request at any time, so long as no Default or Event of Default then exists.

  • The Canadian Bank shall enter Canadian Loans and advances made by the Canadian Bank to the Canadian Borrower pursuant to this Agreement (including, without limitation, Canadian Letters of Credit that are outstanding) as debits in the Canadian Loan Account.

  • Unless Borrower Representative notifies Agent, in the case of the US Loan Account, or Canadian Agent, in the case of the Canadian Loan Account, in writing of any objection to any such accounting (specifically describing the basis for such objection), within 30 days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive on the applicable Borrowers in all respects as to all matters reflected therein.

  • In accordance with Section 2.7, the Canadian Loan Account will be credited with all payments received by Canadian Agent from Canadian Borrower or for Canadian Borrower’s account.

  • During the existence of a Default or an Event of Default, all sums deposited in the Revenue Depository Accounts with the Canadian Bank or the Canadian Operating Account shall be deposited with the Agent by depository transfer check or by wire transfer at the Canadian Borrower's expense to be held for the benefit of the Canadian Bank for application to the Canadian Loan Account.

  • The Canadian Bank shall also record in the Canadian Loan Account all payments made by the Canadian Borrower on account of the Canadian Loans and may also record therein, in accordance with customary accounting practices, other debits and credits, including customary banking charges and all interest, fees, charges and expenses chargeable to the Canadian Borrower under this Agreement.


More Definitions of Canadian Loan Account

Canadian Loan Account. The account or accounts on the books of the Canadian Bank in which will be recorded Canadian Loans and advances (including issued and outstanding Canadian Letters of Credit) made by the Canadian Bank to the Canadian Borrower pursuant to this Agreement, payments made on such Canadian Loans and other appropriate debits and credits as provided by this Agreement.
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Canadian Loan Account means a deposit account established with HSBC Canada into which the proceeds of any funds borrowed hereunder by Westcon Canada shall be initially deposited.
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Canadian Loan Account shall have the meaning provided in Section 4.04.
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Related to Canadian Loan Account

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Loan Account has the meaning set forth in Section 2.10.

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Canadian Loan Party means any Loan Party organized under the laws of Canada or any province or territory thereof.

  • Canadian Loan Parties means the Canadian Borrower and the Canadian Guarantors.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Revolver Note means any one of such Revolver Notes.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Revolving Loan Agreement means that certain Revolving Credit and Security Credit Agreement dated as of the Closing Date by and among Revolving Loan Agent, the Revolving Loan Lenders and the Loan Parties, as amended, restated or otherwise modified from time to time to the extent not prohibited by the Intercreditor Agreement.

  • Canadian Revolving Loans means Revolving Loans made to the Canadian Borrower under Section 2.2, including Bankers’ Acceptance Advances.

  • Revolving Advance has the meaning given in Section 2.1.

  • Swing Loan Note means the Swing Loan Note of the Borrower in the form of Exhibit 1.1(N)(2) evidencing the Swing Loans, together with all amendments, extensions, renewals, replacements, refinancings or refundings thereof in whole or in part.

  • Lender’s Account means the account identified in Schedule L-1.

  • Borrower’s Account shall have the meaning set forth in Section 2.8.

  • Revolving Loan Lender means a Lender with a Revolving Credit Commitment.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Swingline Loan Note a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time.