ANY REVOLVING LENDER IN
RESPECT OF THE OBLIGATIONS DESCRIBED IN THIS PARAGRAPH SHALL ACCRUE AND BE
PAYABLE IN U.S. DOLLARS AT THE RATES OTHERWISE APPLICABLE HEREUNDER.
SECTION 2.06.
CANADIAN BANKERS' ACCEPTANCES.
(A)
EACH ACCEPTANCE AND PURCHASE
OF B/AS OF A SINGLE CONTRACT PERIOD PURSUANT TO SECTION 2.01(B) OR SECTION 2.08
SHALL BE MADE RATABLY BY THE LENDERS IN ACCORDANCE WITH THE AMOUNTS OF THEIR
CANADIAN REVOLVING SUB-COMMITMENTS.
THE FAILURE OF ANY REVOLVING LENDER TO
ACCEPT ANY B/A REQUIRED TO BE ACCEPTED BY IT SHALL NOT RELIEVE ANY OTHER
REVOLVING LENDER OF ITS OBLIGATIONS HEREUNDER, PROVIDED THAT THE CANADIAN
REVOLVING SUB-COMMITMENTS
57
ARE SEVERAL AND NO LENDER SHALL BE RESPONSIBLE FOR ANY OTHER LENDER'S FAILURE TO
ACCEPT B/AS AS REQUIRED.
(B)
THE B/AS OF A SINGLE CONTRACT PERIOD ACCEPTED AND PURCHASED ON ANY DATE
SHALL BE IN AN AGGREGATE AMOUNT THAT IS AN INTEGRAL MULTIPLE OF C$500,000 AND
NOT LESS THAN C$1,000,000.
THE FACE AMOUNT OF EACH B/A SHALL BE C$100,000 OR
ANY WHOLE MULTIPLE THEREOF.
IF ANY REVOLVING LENDER'S RATABLE SHARE OF THE B/AS
OF ANY CONTRACT PERIOD TO BE ACCEPTED ON ANY DATE WOULD NOT BE AN INTEGRAL
MULTIPLE OF C$100,000, THE FACE AMOUNT OF THE B/AS ACCEPTED BY SUCH LENDER MAY
BE INCREASED OR REDUCED TO THE NEAREST INTEGRAL MULTIPLE OF C$100,000 BY THE
ADMINISTRATIVE AGENT IN ITS SOLE DISCRETION.
B/AS OF MORE THAN ONE CONTRACT
PERIOD MAY BE OUTSTANDING AT THE SAME TIME, PROVIDED THAT THERE SHALL NOT AT ANY
TIME BE MORE THAN A TOTAL OF FIVE B/A DRAWINGS OUTSTANDING (OR SUCH GREATER
NUMBER AS THE ADMINISTRATIVE AGENT SHALL AGREE).
(C)
TO REQUEST AN ACCEPTANCE AND PURCHASE OF B/AS, THE CANADIAN SUBSIDIARY
BORROWER SHALL NOTIFY THE ADMINISTRATIVE AGENT OF SUCH REQUEST IN WRITING
(DELIVERED BY HAND OR FACSIMILE) IN A FORM APPROVED BY THE ADMINISTRATIVE AGENT
AND SIGNED BY THE CANADIAN SUBSIDIARY BORROWER OR BY TELEPHONE NOT LATER THAN
12:00 NOON, TORONTO TIME, TWO BUSINESS DAYS BEFORE THE DATE OF SUCH ACCEPTANCE
AND PURCHASE.
EACH SUCH REQUEST SHALL BE IRREVOCABLE AND, IF TELEPHONIC, SHALL
BE CONFIRMED PROMPTLY BY HAND DELIVERY OR FACSIMILE TO THE ADMINISTRATIVE AGENT
OF A WRITTEN REQUEST IN A FORM APPROVED BY THE ADMINISTRATIVE AGENT AND SIGNED
BY THE CANADIAN SUBSIDIARY BORROWER.
EACH SUCH WRITTEN AND TELEPHONIC REQUEST
SHALL SPECIFY THE FOLLOWING INFORMATION:
(I) THE AGGREGATE FACE AMOUNT OF THE B/AS TO BE ACCEPTED AND PURCHASED;
(II) THE DATE OF SUCH ACCEPTANCE AND PURCHASE, WHICH SHALL BE A BUSINESS DAY;
(III) THE CONTRACT PERIOD TO BE APPLICABLE THERETO, WHICH SHALL BE A PERIOD
CONTEMPLATED BY THE DEFINITION OF THE TERM "CONTRACT PERIOD" (AND WHICH SHALL IN
NO EVENT END AFTER THE MATURITY DATE); AND
(IV) THE LOCATION AND NUMBER OF THE CANADIAN SUBSIDIARY BORROWER'S ACCOUNT TO
WHICH ANY FUNDS ARE TO BE DISBURSED, WHICH SHALL COMPLY WITH THE REQUIREMENTS OF
SECTION 2.07.
If no Contract Period is specified with respect to any requested acceptance and
purchase of B/As, then the Canadian Subsidiary Borrower shall be deemed to have
selected a Contract Period