Canadian Participation definition

Canadian Participation has the meaning set forth in Section 2.01(b)(ii).
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Examples of Canadian Participation in a sentence

  • Canadian Participating Lender - each Lender that has a Canadian Participation as identified on Exhibit 1.1; it being understood and agreed that any Lender with funding capability in Canada shall be a Canadian Participating Lender and that any participation pursuant to subsection 1.1.2 and/or any funding pursuant to subsection 3.2.6 shall be effected through such Canadian Participating Lender’s affiliate in Canada.

  • If Canadian Borrower pays less than all of the interest then due and owing by it for any period, that portion of the interest corresponding to the Canadian Participation Fee shall be deemed to be the last portion of interest paid or to be paid.

  • The Canadian Participation Fee shall be distributed by the Canadian Agent promptly upon receipt of the relevant Applicable Margin by the Canadian Agent pursuant to subsection 2.1.1(b) and (d).

  • Notwithstanding anything in the foregoing to the contrary, no Bank and none of its directors, officers and employees shall be entitled to indemnification under this Section for an Indemnified Claim arising out of such Bank's failure to fund its Canadian Loan Participation as and when required by the terms of the Canadian Participation Agreement.

  • The purchase price to be paid by each Canadian Risk Participant to the Canadian Funding Bank for its Assigned Canadian Interests shall be paid in immediately available funds on the applicable Canadian Participation Settlement Date and shall equal 100% of the principal amount of such Canadian Risk Participant's Assigned Canadian Loans, together with all accrued but unpaid interest and fees thereon (as to each such Canadian Risk Participant, its "CANADIAN PURCHASE AMOUNT").

  • Agent shall promptly notify the Canadian Agent and each Non- Canadian Lender of its receipt of a Canadian Participation Funding Notice.

  • Notwithstanding anything in the foregoing to the contrary, no such assignment to an assignee Bank shall be permitted unless such assignee Bank becomes a party, with Bank of Montreal's consent, to the Canadian Participation Agreement, holding an undivided fractional interest in the relevant assigning Bank's Canadian Loan Participations equal to the Percentage of such assignee Bank after giving effect to such assignment.

  • The Canadian Participation Fee shall be distributed by the Canadian Agent promptly upon receipt of the relevant Applicable Margin by the Canadian Agent pursuant to Sections 2.1.1(b) and (d).

  • Agent shall promptly notify the Canadian Agent and each Non-Canadian Bank of its receipt of a Canadian Participation Funding Notice.

  • Each Bank agrees, severally but not jointly, to acquire and hold a Canadian Loan Participation equal at all times to its Percentage in each such Canadian Dollar loan and for that purpose to enter into the Canadian Participation Agreement.

Related to Canadian Participation

  • L/C Participation shall have the meaning provided in Section 3.3(a).

  • Unit Participation means the ratio of the surface acreage of a specific tract in the unit area to the total surface acreage of the unit area as that total surface acreage is specified in paragraph one of the Plan for Unit Operations of this order.

  • Participations shall have the meaning set forth in Section 13.1 hereof.

  • Participation Commitment means each Lender’s obligation to buy a participation of the Letters of Credit issued hereunder.

  • Participation Interests shall have the meaning specified in subsection 2.09(a)(ii).

  • Swing Line Loan Participation Certificate a certificate substantially in the form of Exhibit H.

  • Participation Facility means any facility in which the applicable party (or a Subsidiary of it) participates in the management (including all property held as trustee or in any other fiduciary capacity) and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Unfunded Advances/Participations means (a) with respect to the Administrative Agent, the aggregate amount, if any (i) made available to the Borrowers on the assumption that each Lender has made its portion of the applicable Borrowing available to the Administrative Agent as contemplated by Section 2.02(d) of the Credit Agreement and (ii) with respect to which a corresponding amount shall not in fact have been returned to the Administrative Agent by the Borrowers or made available to the Administrative Agent by any such Lender, (b) with respect to any Swingline Lender, the aggregate amount, if any, of participations in respect of any outstanding Swingline Loan that shall not have been funded by the Revolving Credit Lenders in accordance with Section 2.22(e) of the Credit Agreement and (c) with respect to any Issuing Bank, the aggregate amount, if any, of participations in respect of any outstanding L/C Disbursement that shall not have been funded by the Revolving Credit Lenders in accordance with Sections 2.23(d) and 2.02(f) of the Credit Agreement.

  • Lender Participation Notice has the meaning specified in Section 2.05(d)(iii).

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

  • Swingline Participation Amount as defined in Section 2.7(c).

  • Active participation means an ongoing process of good faith negotiation between the state licensing agency and the Indiana elected committee of licensed managers to achieve joint planning of:

  • Participation Date means the date the individual becomes a qualified participant in Tier 2 as determined under section 701a(1)(b).

  • 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.

  • Participation Maximum shall have the meaning ascribed to such term in Section 4.12(a).

  • 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.

  • Multicurrency LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Multicurrency Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Multicurrency LC Exposure of any Lender at any time shall be its Applicable Multicurrency Percentage of the total Multicurrency LC Exposure at such time.

  • Participation Interest means the Extension of Credit by a Lender by way of a purchase of a participation in Letters of Credit or LOC Obligations as provided in Section 2.2 or in any Loans as provided in Section 3.8.

  • Letter of Credit Liabilities means, for any Lender and at any time, such Lender’s ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Canadian Lenders means the Persons (or an Affiliate or branch of any such Person that is acting on behalf of such Person, in which case the term “Canadian Lenders” shall include any such Affiliate or branch with respect to the Canadian Loans made by such Affiliate or branch) having a Canadian Commitment and any other Person that shall acquire a Canadian Commitment, other than any such Person that ceases to be a Canadian Lender pursuant to an Assignment and Assumption.

  • Risk Participation Liability means, as to each Letter of Credit, all reimbursement obligations of Borrowers to the Issuing Lender with respect to an L/C Undertaking, consisting of (a) the amount available to be drawn or which may become available to be drawn, (b) all amounts that have been paid by the Issuing Lender to the Underlying Issuer to the extent not reimbursed by Borrowers, whether by the making of an Advance or otherwise, and (c) all accrued and unpaid interest, fees, and expenses payable with respect thereto.

  • Dollar LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Dollar Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Dollar LC Exposure of any Lender at any time shall be its Applicable Dollar Percentage of the total Dollar LC Exposure at such time.

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