Common use of Acceptances and Drafts Clause in Contracts

Acceptances and Drafts. (i) Each Revolving Lender severally agrees, on the terms and conditions of this Agreement and from time to time on any Business Day prior to the applicable Maturity Date (A) in the case of a Revolving Lender which is able to accept Drafts, to create acceptances (“Bankers’ Acceptances”) by accepting Drafts and to purchase such Bankers’ Acceptances in accordance with Section 2.24(c)(ii)(A) hereof, and (B) in the case of a Revolving Lender that is unable to accept Drafts (each, a “BA Equivalent Lender”), to purchase completed Drafts (which have not and will not be accepted by such Revolving Lender or any other Revolving Lender) in accordance with Section 2.24(c)(ii)(B) hereof; provided that, after giving effect to the creation or purchase of any Bankers’ Acceptances or the purchase of any Drafts, (x) the Total Utilization of Revolving Commitments shall not exceed the Revolving Commitments then in effect and (y) the aggregate Outstanding Amount of the Revolving Loans of any Lender, plus both (i) such Lender’s Pro Rata Share of the Outstanding Amount of any BA Exposure and (ii) such Lender’s Pro Rata Share of the Outstanding Amount of L/C Obligations, shall not exceed such Lender’s Revolving Commitment then in effect. (ii) If the Administrative Agent determines that the Bankers’ Acceptances to be created and purchased or Drafts to be purchased on any Drawing (upon a conversion or otherwise) will not be created and purchased ratably by the applicable Revolving Lenders in accordance with clause (a)(i) above, then the requested face amount of Bankers’ Acceptances and Drafts shall be reduced to such lesser amount as the Administrative Agent determines will permit ratable sharing and the amount by which the requested face amount shall have been so reduced shall be converted or continued, as the case may be, as a Canadian Prime Rate Loan to be made contemporaneously with the Drawing by the applicable Revolving Lenders.

Acceptances and Drafts. (i) Each Revolving Lender of the Canadian Lenders severally agrees, agrees on the terms and conditions of this Agreement and from time to time on any Business Day prior to the applicable Maturity Date Agreement: (Ai) in the case of if such Canadian Lender is a Revolving Lender which is able to accept DraftsBA Lender, to create acceptances (“Bankers’ Acceptances”) by accepting stamping Drafts and to purchase such Bankers’ Acceptances in accordance with Section 2.24(c)(ii)(A) hereof, and (B) in the case of a Revolving Canadian Borrower under the Credit Facility; or (ii) if such Canadian Lender that is unable to accept Drafts (each, a “Non-BA Equivalent Lender”), to purchase completed Drafts (which have not and will not be accepted by BA Equivalent Notes of such Revolving Lender Canadian Borrower under the Credit Facility, in each case on the Closing or thereafter from time to time on any other Revolving Lender) in accordance with Section 2.24(c)(ii)(B) hereof; provided that, after giving effect Business Day at least one month prior to the creation or purchase of any Bankers’ Acceptances or the purchase of any DraftsMaturity Date, (x) the Total Utilization of Revolving Commitments shall not exceed the Revolving Commitments then in effect and (y) the which Drafts have an aggregate Outstanding Face Amount of the Revolving Loans of any Lender, plus both (i) equal to such Canadian Lender’s Pro Rata Share of the Outstanding Amount of any BA Exposure and (ii) such Lender’s Pro Rata Share of the Outstanding Amount of L/C Obligations, shall not exceed such Lender’s Revolving Commitment then in effect. (ii) If the Administrative Agent determines that the Bankers’ Acceptances to be created and purchased or Drafts to be purchased on any Drawing (upon a conversion or otherwise) will not be created and purchased ratably total Accommodation being made by the applicable Revolving Lenders in accordance with clause (a)(i) above, then the requested face amount way of Bankers’ Acceptances and Drafts or BA Equivalent Notes, except that, if the Face Amount of a Bankers’ Acceptance in the case of a BA Lender, or the Face Amount of a BA Equivalent Note, in the case of a Non-BA Lender, would not be an integral multiple of Cdn. $100,000, such Face Amount shall be increased or reduced by the Agent in its sole discretion and in accordance with normal market practices, to the nearest integral multiple of Cdn. $100,000. Bankers’ Acceptances shall be created through the stamping of Drafts by a BA Lender upon a Canadian Borrower paying the BA Stamping Fee, which shall be deducted by each BA Lender from the proceeds it receives from the sale of such lesser amount as Bankers’ Acceptances. BA Equivalent Notes shall be purchased by each Non-BA Lender upon a Canadian Borrower paying the Administrative BA Stamping Fee, which shall be deducted by each Non-BA Lender from the purchase price it pays for such BA Equivalent Notes. In each case, following deduction of the BA Stamping Fee, each BA Lender and Non-BA Lender will remit the net proceeds to the Agent determines will permit ratable sharing and the amount by which Agent shall credit such net proceeds to the requested face amount appropriate Borrower’s Canadian Dollar Account. The Total Outstandings after any BA Issuance shall have been so reduced shall be converted or continued, as not exceed the case may be, as a Canadian Prime Rate Loan to be made contemporaneously with the Drawing by the applicable Revolving LendersCommitment.

Acceptances and Drafts. (i) Each Revolving Drawing shall be made on notice (a “Drawing Notice”) given by the Borrower to the Lender severally agreesunder the relevant Facility not later than 10:00 a.m. (Calgary time) at least two Business Days prior to such Drawing. Each Drawing Notice shall be in substantially the form of Schedule “D”, shall be irrevocable and binding on the terms Borrower and conditions shall specify (i) the Drawing Date, (ii) the Facility under which the Drawing is to be made, (iii) the aggregate Face Amount of this Agreement Drafts to be accepted and from time to time on any Business Day prior to the applicable Maturity Date purchased (A) in or purchased, as the case of a Revolving Lender which is able to accept Drafts, to create acceptances (“Bankers’ Acceptances”) by accepting Drafts and to purchase such Bankers’ Acceptances in accordance with Section 2.24(c)(ii)(A) hereofmay be), and (B) in the case of a Revolving Lender that is unable to accept Drafts (each, a “BA Equivalent Lender”), to purchase completed Drafts (which have not and will not be accepted by such Revolving Lender or any other Revolving Lender) in accordance with Section 2.24(c)(ii)(B) hereof; provided that, after giving effect to the creation or purchase of any Bankers’ Acceptances or the purchase of any Drafts, (xiv) the Total Utilization of Revolving Commitments shall not exceed contract maturity date for the Revolving Commitments then in effect and (y) the aggregate Outstanding Amount of the Revolving Loans of any Lender, plus both (i) such Lender’s Pro Rata Share of the Outstanding Amount of any BA Exposure and (ii) such Lender’s Pro Rata Share of the Outstanding Amount of L/C Obligations, shall not exceed such Lender’s Revolving Commitment then in effectDrafts. (ii) If Not later than 10:00 a.m. (Calgary time) on an applicable Drawing Date, the Administrative Agent determines Lender shall complete one or more Drafts in accordance with the Drawing Notice and either (x) accept the Drafts and purchase the Guaranteed Notes so created for the Drawing Price, or (y) purchase the Drafts for the Drawing Price. In each case, upon fulfilment of the applicable conditions set forth in Section 13, the Lender shall make funds available to the Borrower in accordance with Section 1. (iii) Guaranteed Notes purchased by the Lender may be held by it for its own account until the Term Date or sold by it at any time prior to that date in any relevant Canadian market in the Bankers’ Acceptances Lender’s sole discretion. The Borrower hereby waives presentment for payment of Guaranteed Notes and any defence to be created payment of amounts due to the Lender in respect of a Guaranteed Note which might exist by reason of such Guaranteed Note being held at maturity which it accepted and purchased or Drafts to be purchased on any Drawing (upon a conversion or otherwise) will not be created and purchased ratably by the applicable Revolving Lenders in accordance with clause (a)(i) above, then the requested face amount of Bankers’ Acceptances and Drafts shall be reduced to such lesser amount as the Administrative Agent determines will permit ratable sharing and the amount by which the requested face amount shall have been so reduced shall be converted or continuedpurchased, as the case may be, as a Canadian Prime Rate Loan and agrees not to be made contemporaneously with claim from the Drawing by Lender any days of grace for the applicable Revolving Lenderspayment at maturity of any Guaranteed Note.

Acceptances and Drafts. (ia) Each Revolving Lender (other than the 5 Year Swingline Lenders and the Documentary Credit Lenders in such capacities) severally agrees, on the terms and conditions of this Agreement Agreement, and in accordance with the applicable Drawing Notice, from time to time on any Business Day prior to the applicable 5 Year Maturity Date in respect of such Lender if it is a 5 Year Lender and prior to the 2 Year Maturity Date in respect of such Lender if it is a 2 Year Lender: (Ai) in the case of a Revolving Lender which is willing and able to accept Drafts, to create acceptances (“Bankers’ Acceptances”) by accepting Drafts and to purchase such Bankers’ Acceptances in accordance with Section 2.24(c)(ii)(A) hereof, and 4.3(b); and (Bii) in the case of a Revolving Lender that which is unwilling or unable to accept Drafts (each, a “BA Equivalent Lender”)Drafts, to purchase completed Drafts (which have not and will not be accepted by such Revolving Lender or any other Revolving Lender) in accordance with Section 2.24(c)(ii)(B4.3(b). (b) hereof; provided that, after giving effect to Each requested Drawing shall be in the minimum aggregate Face Amount and in an integral multiple of the amount set forth in Schedule 6 and shall consist of the creation or and purchase of any Bankers’ Acceptances or the purchase of any DraftsDrafts on the same day, (x) in each case for the Total Utilization of Revolving Commitments shall not exceed Drawing Price, by the Revolving Commitments then relevant Lenders in effect accordance with Section 4.3 and (y) the aggregate Outstanding Amount of the Revolving Loans of any Lender, plus both (i) such their respective Lender’s Pro Rata Share of Commitment under the Outstanding Amount of any BA Exposure and (ii) such Lender’s Pro Rata Share of the Outstanding Amount of L/C Obligations, shall not exceed such Lender’s Revolving Commitment then in effectapplicable Credit Facility. (iic) If the Administrative Agent determines that The aggregate Face Amount of the Bankers’ Acceptances to be created and purchased by a Lender or Drafts to be purchased by a Lender on any Drawing Date (upon a conversion or otherwise) will not ), shall be determined by the Administrative Agent based upon each Lender’s rateable portion of the Drawing, except that, if the Face Amount of any Bankers’ Acceptance to be created and purchased ratably by the applicable Revolving Lenders or Draft to be purchased, determined as aforesaid, would not be in accordance with clause (a)(i) abovean integral multiple of Cdn. $100,000, then the requested face amount of Bankers’ Acceptances and Drafts shall be reduced to such lesser amount as the Administrative Agent determines will permit ratable sharing and in its sole discretion may increase such Face Amount to the amount by which nearest whole multiple of Cdn. $100,000 or may reduce such Face Amount to the requested face amount shall have been so reduced shall be converted or continued, as the case may be, as a Canadian Prime Rate Loan to be made contemporaneously with the Drawing by the applicable Revolving Lendersnearest whole multiple of Cdn. $100,000.