Schedule I Lender definition
Examples of Schedule I Lender in a sentence
Whenever a Canadian Borrower requests a Revolving Credit Loan by way of Bankers’ Acceptance, each Lender which is not a Schedule I Lender and each Non BA Lender shall, in lieu of accepting a Bankers’ Acceptance, make a BA Equivalent Loan in an amount equal to the Non BA Lender’s Canadian Facility Commitment Percentage.
Whenever Canadian Borrower delivers a Notice of Drawing to Canadian Agent under this Agreement requesting Canadian Lenders to accept Drafts, a Canadian Lender, other than a Schedule I Lender, which cannot or does not accept Drafts (a “Non-Acceptance Canadian Lender”) shall, in lieu of accepting Drafts, make an Acceptance Equivalent Loan.
Each Schedule I Lender shall purchase all Bankers' Acceptances accepted by it on the relevant Drawing Date, Rollover Date or Conversion Date at the BA Discount Rate equal to the CDOR Rate for bankers' acceptances in Canadian Dollars having comparable issue dates and maturity dates to the Bankers' Acceptances purchased by such Schedule I Lender.
For greater certainty, the net amount to be made available by each Lender on any date in respect of a BA Loan made by it on such date shall be the same as the amount of BA Discount Proceeds that such Lender would have been required to make available to the Borrower had such Lender been a Schedule I Lender that purchased the Bankers’ Acceptances accepted by it on such date.
Whenever Canadian Borrower delivers a Notice of Drawing to Canadian Agent under this Agreement requesting Canadian Lenders to accept Drafts, a Canadian Lender, other than a Schedule I Lender, which cannot or does not accept Drafts (a "Non-Acceptance Canadian Lender") shall, in lieu of accepting Drafts, make an Acceptance Equivalent Loan.