IN RESPECT OF EACH B/A ACCEPTED BY SUCH REVOLVING
(CANADIAN) LENDER SHALL BE SET OFF AGAINST AND DEDUCTED FROM THE DISCOUNT
PROCEEDS PAYABLE BY SUCH REVOLVING (CANADIAN) LENDER UNDER THIS SECTION 2.22.
(G)
EACH REVOLVING (CANADIAN) LENDER MAY AT ANY TIME AND FROM TIME TO TIME
HOLD, SELL, REDISCOUNT OR OTHERWISE DISPOSE OF ANY OR ALL B/AS ACCEPTED AND
PURCHASED BY IT.
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(H)
IF A REVOLVING (CANADIAN) LENDER IS NOT A CHARTERED BANK UNDER THE BANK ACT
(CANADA) OR IF A REVOLVING (CANADIAN) LENDER NOTIFIES THE CANADIAN
ADMINISTRATIVE AGENT IN WRITING THAT IT IS OTHERWISE UNABLE TO ACCEPT BANKERS'
ACCEPTANCES, SUCH REVOLVING (CANADIAN) LENDER WILL, INSTEAD OF ACCEPTING AND
PURCHASING BANKERS' ACCEPTANCES, MAKE AN ADVANCE (A "B/A EQUIVALENT LOAN") TO
SSC CANADA IN THE AMOUNT AND FOR THE SAME TERM AS THE DRAFT THAT SUCH REVOLVING
(CANADIAN) LENDER WOULD OTHERWISE HAVE BEEN REQUIRED TO ACCEPT AND PURCHASE
HEREUNDER.
EACH SUCH REVOLVING (CANADIAN) LENDER WILL PROVIDE TO THE CANADIAN
ADMINISTRATIVE AGENT THE DISCOUNT PROCEEDS OF SUCH B/A EQUIVALENT LOAN FOR THE
ACCOUNT OF SSC CANADA.
EACH SUCH B/A EQUIVALENT LOAN WILL BEAR INTEREST AT THE
SAME RATE THAT WOULD RESULT IF SUCH REVOLVING (CANADIAN) LENDER HAD ACCEPTED
(AND BEEN PAID AN ACCEPTANCE FEE) AND PURCHASED (ON A DISCOUNTED BASIS AT THE
DISCOUNT RATE) A BANKERS' ACCEPTANCE FOR THE RELEVANT CONTRACT PERIOD (IT BEING
THE INTENTION OF THE PARTIES THAT EACH SUCH B/A EQUIVALENT LOAN SHALL HAVE THE
SAME ECONOMIC CONSEQUENCES FOR THE REVOLVING (CANADIAN) LENDERS AND SSC CANADA
AS THE BANKERS' ACCEPTANCE WHICH SUCH B/A EQUIVALENT LOAN REPLACES).
ALL SUCH
INTEREST SHALL BE PAID IN ADVANCE ON THE DATE SUCH B/A EQUIVALENT LOAN IS MADE,
AND WILL BE DEDUCTED FROM THE PRINCIPAL AMOUNT OF SUCH B/A EQUIVALENT LOAN IN
THE SAME MANNER IN WHICH THE DISCOUNT PROCEEDS OF A BANKERS' ACCEPTANCE WOULD BE
DEDUCTED FROM THE FACE AMOUNT OF THE BANKERS' ACCEPTANCE.
(I)
SSC CANADA WAIVES PRESENTMENT FOR PAYMENT AND ANY OTHER DEFENSE TO PAYMENT
OF ANY AMOUNTS DUE TO A REVOLVING (CANADIAN) LENDER IN RESPECT OF A B/A ACCEPTED
AND PURCHASED BY IT PURSUANT TO THIS AGREEMENT WHICH MIGHT EXIST SOLELY BY
REASON OF SUCH B/A BEING HELD, AT THE MATURITY THEREOF, BY SUCH REVOLVING
(CANADIAN) LENDER IN ITS OWN RIGHT, AND SSC CANADA AGREES NOT TO CLAIM ANY DAYS
OF GRACE IF SUCH REVOLVING (CANADIAN) LENDER, AS HOLDER, CLAIMS PAYMENT FROM OR
SUES SSC CANADA ON THE B/A FOR PAYMENT OF THE AMOUNT PAYABLE BY SSC CANADA
THEREUNDER.
ON THE LAST DAY OF THE CONTRACT PERIOD OF A B/A, OR SUCH EARLIER
DATE AS MAY BE REQUIRED OR PERMITTED PURSUANT TO THE PROVISIONS OF THIS
AGREEMENT, SSC CANADA SHALL PAY THE REVOLVING (CANADIAN) LENDER THAT HAS
ACCEPTED AND PURCHASED A B/A OR ADVANCED A B/A EQUIVALENT LOAN
THE FULL FACE
AMOUNT OF SUCH B/A OR B/A EQUIVALENT LOAN, AS THE CASE MAY BE, AND, AFTER SUCH
PAYMENT, SSC CANADA SHALL HAVE NO FURTHER LIABILITY IN RESPECT OF SUCH B/A AND
SUCH REVOLVING (CANADIAN) LENDER SHALL BE ENTITLED