promptly crediting the
amounts so received, in like funds, to the US Borrower Funding Account; provided
that US Revolving Loans made to finance the reimbursement of (i) an LC
Disbursement as provided in Section 2.07(e) shall be remitted by the US
Administrative Agent to the Issuing Bank and (ii) a US Protective Advance or US
Overadvance shall be retained by the US Administrative Agent and applied to such
reimbursement.
(B)
EACH CANADIAN LENDER SHALL MAKE EACH US$ CANADIAN REVOLVING LOAN
OR C$ CANADIAN REVOLVING LOAN TO BE MADE BY IT HEREUNDER ON THE PROPOSED DATE
THEREOF BY WIRE TRANSFER OF IMMEDIATELY AVAILABLE FUNDS IN THE APPLICABLE
CURRENCY BY 11:00 A.M., TORONTO TIME, TO THE ACCOUNT OF THE CANADIAN
ADMINISTRATIVE AGENT MOST RECENTLY DESIGNATED BY IT FOR SUCH PURPOSE BY NOTICE
TO THE CANADIAN
48
LENDERS IN AN AMOUNT EQUAL TO SUCH CANADIAN LENDER'S APPLICABLE CANADIAN
PERCENTAGE. THE CANADIAN ADMINISTRATIVE AGENT WILL MAKE SUCH LOANS AVAILABLE TO
THE CANADIAN BORROWER BY PROMPTLY CREDITING THE AMOUNTS SO RECEIVED, IN LIKE
FUNDS, TO THE CANADIAN BORROWER FUNDING ACCOUNT; PROVIDED THAT CANADIAN
REVOLVING LOANS MADE TO REFINANCE CANADIAN PROTECTIVE ADVANCES AND CANADIAN
OVERADVANCES SHALL BE RETAINED BY THE CANADIAN ADMINISTRATIVE AGENT AND APPLIED
TO SUCH REIMBURSEMENT.
(C)
UNLESS THE US ADMINISTRATIVE AGENT OR THE CANADIAN ADMINISTRATIVE
AGENT, AS THE CASE MAY BE, SHALL HAVE RECEIVED NOTICE FROM A LENDER PRIOR TO THE
PROPOSED DATE OF ANY BORROWING THAT SUCH LENDER WILL NOT MAKE AVAILABLE TO SUCH
ADMINISTRATIVE AGENT SUCH LENDER'S SHARE OF SUCH BORROWING, SUCH ADMINISTRATIVE
AGENT MAY ASSUME THAT SUCH LENDER HAS MADE SUCH SHARE AVAILABLE ON SUCH DATE IN
ACCORDANCE WITH PARAGRAPH (A) OR (B) OF THIS SECTION AND MAY, IN RELIANCE UPON
SUCH ASSUMPTION, MAKE AVAILABLE TO THE RELEVANT BORROWER A CORRESPONDING AMOUNT.
IN SUCH EVENT, IF A LENDER HAS NOT IN FACT MADE ITS SHARE OF THE APPLICABLE
BORROWING AVAILABLE TO THE RELEVANT ADMINISTRATIVE AGENT, THEN THE APPLICABLE
LENDER AND THE US BORROWER OR THE CANADIAN BORROWER, AS APPLICABLE, SEVERALLY
AGREE TO PAY TO SUCH ADMINISTRATIVE AGENT FORTHWITH ON DEMAND SUCH CORRESPONDING
AMOUNT WITH INTEREST THEREON, FOR EACH DAY FROM AND INCLUDING THE DATE SUCH
AMOUNT IS MADE AVAILABLE TO THE RELEVANT BORROWER TO BUT EXCLUDING THE DATE OF
PAYMENT TO SUCH ADMINISTRATIVE AGENT, AT (I) IN THE CASE OF SUCH LENDER, THE
GREATER OF THE FEDERAL FUNDS EFFECTIVE RATE AND A RATE DETERMINED BY THE US
ADMINISTRATIVE AGENT IN ACCORDANCE WITH BANKING INDUSTRY RULES ON INTERBANK
COMPENSATION OR (II) IN THE CASE OF THE US BORROWER OR THE CANADIAN BORROWER, AS
APPLICABLE, THE INTEREST RATE APPLICABLE TO ABR LOANS (IN THE CASE OF ALL LOANS
OTHER THAN US$ CANADIAN REVOLVING LOANS OR C$ CANADIAN REVOLVING LOANS),
CANADIAN ABR LOANS (IN THE CASE OF US$ CANADIAN REVOLVING LOANS) OR CANADIAN
PRIME RATE LOANS (IN THE CASE OF C$ CANADIAN REVOLVING LOANS), AS APPLICABLE. IF
SUCH LENDER PAYS SUCH AMOUNT TO SUCH ADMINISTRATIVE AGENT, THEN SUCH AMOUNT
SHALL CONSTITUTE SUCH LENDER'S LOAN INCLUDED IN SUCH BORROWING.
SECTION 2.09
Interest Elections.