Common use of Form of Drafts Clause in Contracts

Form of Drafts. Drafts tendered by the Domestic Borrower, on behalf of itself or the Canadian Borrower, as applicable, for acceptance by the Alternative Currency Lender shall be in the form provided by the Alternative Currency Lender to the Domestic Borrower or the Canadian Borrower, as applicable, and shall (i) be dated the date of the Canadian BA Borrowing and (ii) mature and be payable by the Domestic Borrower or the Canadian Borrower, as applicable, on the last day of the Canadian Interest Period designated by the Domestic Borrower, on behalf of itself or the Canadian Borrower, as applicable, with respect to such Drafts. The Domestic Borrower and the Canadian Borrower hereby renounce, and shall not claim, any days of grace for payment of any Acceptances.