Examples of Canadian Revolving Credit Commitment in a sentence
The Canadian Borrower hereby agrees that each Request for Acceptances, reimbursement of Acceptances and conversion of Canadian Revolving Credit Loans to Acceptances shall be made in a manner so that any such Request for Acceptances, reimbursement or conversion shall apply ratably to all Canadian Lenders in accordance with their respective Canadian Revolving Credit Commitment Percentages.
Each Canadian Lender shall be obligated to reimburse the applicable Canadian L/C Issuer for such Canadian Lender’s Canadian Revolver Percentage of the amount of each drawing under a Canadian Letter of Credit and, accordingly, each Canadian Letter of Credit shall constitute usage of the Canadian Revolving Credit Commitment of each Canadian Lender pro rata in an amount equal to its Canadian Revolver Percentage of the Canadian L/C Obligations then outstanding.
Borrowers acknowledge that, as of the Closing Date, no "Canadian Bank" exists hereunder to make Canadian Revolving Loans or issue Canadian Letters of Credit pursuant to the Canadian Revolving Credit Commitment.
No such assignment of all or a portion of a Canadian Revolving Credit Lender’s Canadian Revolving Credit Commitment or other rights and obligations under this Agreement shall be made to any Person other than an assignee who satisfies the definition of Canadian Revolving Credit Lender.
Not later than 12:00 Noon, Toronto time, on each requested Borrowing Date each Canadian Lender shall make an amount equal to its Canadian Revolving Credit Commitment Percentage of the principal amount of Canadian Revolving Credit Loans requested to be made on such Borrowing Date available to the Canadian Administrative Agent at its office specified in subsection 18.2 in Canadian Dollars or U.S. Dollars, as the case may be, and in immediately available funds.