Examples of Canadian Facility Lenders in a sentence
If the making of any payment by the Canadian Borrower would result in a payment being made that is in excess of such amount or rate, the Canadian Facility Lenders will determine the payment or payments that are to be reduced or refunded, as the case may be, so that such result does not occur.
To the extent the Criminal Code (Canada) is applicable, notwithstanding anything contained herein to the contrary, the Canadian Borrower will not be obliged to make any payment of interest or other amounts payable to any Canadian Facility Lender hereunder in excess of the amount or rate that would be permitted by applicable law or would result in the receipt by the Canadian Facility Lenders of interest at a criminal rate (as such terms are construed under the Criminal Code (Canada)).
The Canadian Agent, promptly following receipt of a notice of a Borrowing, conversion or continuation by way of Bankers’ Acceptances, shall advise the Canadian Facility Lenders of the notice and shall advise each Canadian Facility Lender of the face amount of Bankers’ Acceptances to be accepted by it and the applicable term (which shall be identical for all Canadian Facility Lenders).
To the extent any amounts available for distribution pursuant to clause fourth are insufficient to pay all obligations described therein in full, such moneys shall be allocated pro rata among the Canadian Facility Lenders and Canadian Facility Issuing Lenders based on their respective Canadian Facility Commitment Percentages.
The Borrower Representative may, at any time and from time to time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld), and such Lender, designate one or more additional Canadian Facility Lenders (that are Canadian Qualified Lenders) or U.S. Facility Lenders, as applicable, to act as an issuing lender under the terms of this Agreement.
No Canadian Facility Lender shall be responsible for any default of any other Canadian Facility Lender in respect to such other Canadian Facility Lender's obligation to make any Canadian Facility Loan hereunder nor shall the Canadian Facility Fronting Commitment of any Canadian Facility Lender or the Canadian Facility Commitment of any Lender be increased as a result of such default of any other Canadian Facility Lender.
The undersigned agrees for the benefit of the Administrative Agent and the Canadian Facility Lenders as follows: The undersigned will be bound by the terms of the Agreement applicable to it as an Issuer (as defined in the Agreement) and will comply with such terms insofar as such terms are applicable to the undersigned as an Issuer.
Upon receipt of such notice, the Administrative Agent shall promptly notify the Tranche A U.S. Facility Lenders or the Tranche A Canadian Facility Lenders, as the case may be, in writing, of such issuance or amendment, and, if so requested by a Lender, the Administrative Agent shall provide to such Lender copies of such issuance or amendment.
Upon receipt of such notice, the Administrative Agent or the Canadian Agent, as applicable, shall promptly notify the U.S. Facility Lenders or the Canadian Facility Lenders, as the case may be, in writing, of such issuance or amendment, and, if so requested by a Lender, the Administrative Agent or the Canadian Agent, as applicable, shall provide to such Lender copies of such issuance or amendment.
The sole obligation of the Fronting Lenders, and the Canadian Agent and the Canadian Facility Lenders with respect to Letters of Credit is to cause to be paid a draft drawn or purporting to be drawn in accordance with the terms of the applicable Letter of Credit and for such purpose the relevant Fronting Lender or Canadian Agent, as the case may be, is only obliged to determine that the Draft complies with the terms and conditions of the relevant Letter of Credit.