Common use of Payment on Maturity Clause in Contracts

Payment on Maturity. A Borrower which has received a Bankers' Acceptance Advance shall pay to the Administrative Agent, for the account of the Lenders, on the maturity date of such Bankers' Acceptance and the last day of the Interest Period of an Acceptance Note an amount equal to the Face Amount of such maturing Bankers' Acceptance or the principal amount of such Acceptance Note, as the case may be; provided that such Borrower may, at its option, so reimburse the Lenders, in whole or in part, by delivering to the Administrative Agent no later than 10:00 a.m. two (2) Banking Days prior to the maturity date of a maturing Bankers' Acceptance or the last day of the Interest Period of an Acceptance Note, as the case may be, a Rollover Notice specifying the term of the Bankers' Acceptances or the next Interest Period for such Acceptance Note, as the case may be, and presenting drafts or Acceptance Notes to the Lenders for acceptance and purchase having, in the case of reimbursement in whole by replacement Bankers' Acceptances or Acceptance Notes, an aggregate Face Amount equal to the Face Amount of the maturing Bankers' Acceptances or principal amount of the Acceptance Notes. In the event that a Borrower fails to deliver a Conversion Notice or Rollover Notice and fails to make payment to the Administrative Agent in respect of the maturing Bankers' Acceptance Advance, the Face Amount of the maturing Bankers' Acceptances and the principal amount of the Acceptance Notes forming part of such Bankers' Acceptance Advance shall be deemed to be converted to a Prime Rate Advance on the relevant maturity date.

Payment on Maturity. A The Borrower which has received a Bankers' Acceptance Advance shall pay to the Administrative Agent, Agent for the account of the Lenders, Lenders on the maturity date of such a Bankers' Acceptance and the last day of the Interest Period of an Acceptance Note an amount equal to the Face Amount of such maturing Bankers' Acceptance or the principal amount of such Acceptance Note, as the case may beAcceptance; provided that such the Borrower may, at its option, so reimburse the Lenders, in whole or in part, by delivering to the Administrative Agent no later than 10:00 a.m. two (2) one Banking Days Day prior to the maturity date of a maturing Bankers' Acceptance or the last day of the Interest Period of an Acceptance Note, as the case may beAcceptance, a Rollover Notice specifying the term of the Bankers' Acceptances or the next Interest Period for such Acceptance Note, as the case may be, and presenting drafts or Acceptance Notes to the Lenders for acceptance and purchase having, in the case of reimbursement in whole by replacement Bankers' Acceptances or Acceptance NotesAcceptances, an aggregate Face Amount equal to the Face Amount of the maturing Bankers' Acceptances or principal amount of the Acceptance NotesAcceptances. In the event that a the Borrower fails to deliver a Conversion Notice or Rollover Notice and fails to make payment to the Administrative Agent in respect of the maturing Bankers' Acceptance AdvanceAcceptances, the Face Amount of the maturing Bankers' Acceptances and the principal amount of the Acceptance Notes forming part of such Bankers' Acceptance Advance shall be deemed to be converted to a Prime Rate Advance on the relevant maturity date. The Borrower shall pay to the Administrative Agent for the account of the Lenders on the maturity date of the maturing Bankers' Acceptance the difference between the Face Amount of the maturing Bankers' Acceptance and the BA Purchase Price for such replacement Bankers' Acceptances.

Payment on Maturity. A Borrower which has received a Bankers' ’ Acceptance Advance shall pay to the Administrative Agent, for the account of the Lenders, on the maturity date of such Bankers' ’ Acceptance and the last day of the Interest Period of an Acceptance Note an amount equal to the Face Amount of such maturing Bankers' ’ Acceptance or the principal amount of such Acceptance Note, as the case may be; provided that such Borrower may, at its option, so reimburse the Lenders, in whole or in part, by delivering to the Administrative Agent no later than 10:00 a.m. two (2) Banking Days prior to the maturity date of a maturing Bankers' ’ Acceptance or the last day of the Interest Period of an Acceptance Note, as the case may be, a Rollover Notice specifying the term of the Bankers' ’ Acceptances or the next Interest Period for such Acceptance Note, as the case may be, and presenting drafts or Acceptance Notes to the Lenders for acceptance and purchase having, in the case of reimbursement in whole by replacement Bankers' ’ Acceptances or Acceptance Notes, an aggregate Face Amount equal to the Face Amount of the maturing Bankers' ’ Acceptances or principal amount of the Acceptance Notes. In the event that a Borrower fails to deliver a Conversion Notice or Rollover Notice and fails to make payment to the Administrative Agent in respect of the maturing Bankers' ’ Acceptance Advance, the Face Amount of the maturing Bankers' ’ Acceptances and the principal amount of the Acceptance Notes forming part of such Bankers' ’ Acceptance Advance shall be deemed to be converted to a Prime Rate Advance on the relevant maturity date.

Payment on Maturity. A The Borrower which has received a Bankers' Acceptance Advance shall pay to the Administrative Agent, for the account of the Lenders, on the maturity date of such Bankers' Acceptance and the last day of the Interest Period of an a Bankers’ Acceptance Note or BA Discount Note, as the case may be, an amount equal to the Face Amount of such maturing Bankers' ’ Acceptance or the principal amount of such Acceptance BA Discount Note, as the case may be; provided that such the Borrower may, at its option, so reimburse the Lenders, in whole rollover all or in part, any portion of a Bankers’ Acceptance or BA Discount Note by delivering a Rollover Notice in respect thereof to the Administrative Agent no later than 10:00 a.m. two (2Toronto Time) Banking 3 Business Days prior to the maturity date of a maturing Bankers' Acceptance or the last day of the applicable Interest Period of an Acceptance Note, as the case may be, a Rollover Notice specifying the term of the and presenting replacement Bankers' ’ Acceptances or the next Interest Period for such Acceptance Note, as the case may be, and presenting drafts or Acceptance BA Discount Notes to the Lenders for acceptance and purchase havingor purchase, in as the case of reimbursement in whole by replacement Bankers' Acceptances or Acceptance Notesmay be, an aggregate Face Amount together with funds equal to (i) the Face Amount of the maturing replacement Bankers' Acceptances ’ Acceptance or the principal amount of the replacement BA Discount Notes less (ii) the BA Discount Proceeds less the Bankers’ Acceptance NotesFee attributable thereto. In the event that a Borrower fails to deliver a Conversion Notice or Rollover Notice and fails to make payment to the Administrative Agent in respect of the maturing Bankers' Acceptance BA Advance, the Face Amount of the maturing Bankers' ’ Acceptances and the principal amount of the Acceptance BA Discount Notes forming part of such Bankers' Acceptance BA Advance shall be deemed to be converted to a Prime Rate Advance on the last day of the relevant Interest Period. The Borrower waives presentment for payment and any other defence for payment of any amounts due to a Lender in respect of a Bankers’ Acceptance accepted by or pursuant to this Agreement which might otherwise exist solely by reason of such Bankers’ Acceptance being held, at the time of maturity datethereof, by such Lender in its own right and the Borrower agrees not to claim any days of grace if such Lender as holder sues the Borrower on the Banker’s Acceptance for payment of the amount payable by the Borrower thereunder.