Common use of Procedure for Drawing Clause in Contracts

Procedure for Drawing. The Borrower shall give the Agent irrevocable written notice not later than 1:00 p.m. (Toronto time) at least two (2) Business Days prior to the date of the proposed Drawing in the form of an Accommodation Notice, or telephonic notice followed immediately by an Accommodation Notice; provided, however, that the Borrower's failure to confirm any telephonic notice with an Accommodation Notice shall not invalidate any notice so given if acted upon by the Agent. Upon receipt of an Accommodation Notice, the Agent shall be responsible for making all necessary arrangements with each of the Banks with respect to the stamping of Bankers' Acceptances in the manner contemplated in this Section 2.5. The Borrower shall not in any Accommodation Notice select an Interest Period for a Draft which ends after the Maturity Date or which conflicts with the repayments provided for in Sections 2.8 or 2.10(b) hereof.

Procedure for Drawing. The Borrower shall give the Agent irrevocable written notice not later than 1:00 p.m. (Toronto time) at least two (2) Business Days prior to the date of the proposed Drawing in the form of an Accommodation Notice, or telephonic notice followed immediately by an Accommodation Notice; provided, however, that the Borrower's failure to confirm any telephonic notice with an Accommodation Notice shall not invalidate any notice so given if acted upon by the Agent. Upon receipt of an Accommodation Notice, the Agent shall be responsible for making all necessary arrangements with each of the Banks with respect to the stamping of Bankers' Acceptances in the manner contemplated in this Section 2.5. The Borrower shall not in any Accommodation Notice select an Interest Period for a Draft which ends after the Maturity Date or which conflicts with the repayments provided for in Sections Section 2.8 or Section 2.10(b) hereof.