Common use of Acceptances and Drafts Clause in Contracts

Acceptances and Drafts. The Banks agree subject to the terms and conditions of this Agreement to create acceptances ("Bankers' Acceptances") by accepting Drafts of the Borrower under the Available Commitment from time to time, on any Business Day prior to the Maturity Date, which Drafts have an aggregate Face Amount equal to such Bank's pro rata share of the total Accommodations being made by way of Bankers' Acceptances, except that, if the face amount of a Bankers' Acceptance would not be equal to an integral multiple of $100,000, the face amount shall be increased or reduced by the Agent in its sole discretion, even if as a result of any such increase a Bank's Commitment Ratio would be exceeded. Bankers' Acceptances shall be created by Banks' acceptance of Drafts. Each Drawing shall be in an aggregate amount of not less than $1,000,000 and in an integral amount of $100,000.

Acceptances and Drafts. The Banks agree subject to the terms and conditions of this Agreement to create acceptances ("Bankers' Acceptances") by accepting Drafts of the Borrower under the Available Commitment from time to time, on any Business Day prior to the Maturity Date, which Drafts have an aggregate Face Amount equal to such Bank's pro rata share of the total Accommodations being made by way of Bankers' Acceptances, except that, if the face fact amount of a Bankers' Acceptance would not be equal to an any integral multiple of $100,000, the face fact amount shall be increased or reduced by the Agent in its sole discretion, even if as a result of any such increase a Bank's Commitment Ratio would be exceeded. Bankers' Acceptances shall be created by Banks' acceptance of Drafts. Each Drawing shall be in an aggregate amount of not less than $1,000,000 and in an integral amount of $100,000.