Common use of Purchase of Acceptances Clause in Contracts

Purchase of Acceptances. (a) Each Canadian Lender hereby agrees, on the terms and subject to the conditions set forth in this Agreement, to purchase Acceptances created by it on the Borrowing Date with respect thereto for the applicable Acceptance Purchase Price and to notify the Canadian Administrative Agent that such Draft has been accepted and purchased by such accepting Canadian Lender. (b) In the event that the Canadian Administrative Agent receives a Request for Acceptances to be created upon conversion of Canadian Term Loans pursuant to Section 5.1, then the Canadian Borrower shall pay on the requested Borrowing Date to the Canadian Administrative Agent, for the account of the Canadian Lenders, the principal amount of the then outstanding Canadian Term Loans being so converted, and each Canadian Lender shall accept and purchase the Canadian Borrower's Drafts having an aggregate face amount not greater than the principal amount of the Canadian Term Loans of such Canadian Lender which are then being converted (it being understood and agreed that for the purposes of this Section 5.3(b), such payment by the Canadian Borrower of such outstanding Canadian Term Loans may be in part from the Acceptance Purchase Price of such Drafts); provided that, following the occurrence and during the continuance of a Default or an Event of Default, no Acceptances may be created. (c) Acceptances purchased by any Canadian Lender may be held by it for its own account until maturity or sold by it at any time prior thereto in the relevant market therefor in Canada in such Canadian Lender's sole discretion.

Purchase of Acceptances. (a) Each Canadian Lender hereby agrees, on the terms and subject to the conditions set forth in this Agreement, to purchase Acceptances created by it on the Borrowing Date with respect thereto for the applicable Acceptance Purchase Price and to notify the Canadian Administrative Agent that such Draft has been accepted and purchased by such accepting Canadian Lender. (b) In the event that the Canadian Administrative Agent receives a Request for Acceptances to be created upon conversion of Canadian Term Loans pursuant to Section 5.1, then the Canadian Borrower shall pay on the requested Borrowing Date to the Canadian Administrative Agent, for the account of the Canadian Lenders, the principal amount of the then outstanding Canadian Term Loans being so converted, and each Canadian Lender shall accept and purchase the Canadian Borrower's Drafts having an aggregate face amount not greater than the principal amount of the Canadian Term Loans of such Canadian Lender which are then being converted (it being understood and agreed that for the purposes of this Section 5.3(b), such payment by the Canadian Borrower of such outstanding Canadian Term Loans may be in part from the Acceptance Purchase Price of such Drafts); provided that, following the occurrence and during the continuance of a Default or an Event of Default, no Acceptances may be created. (c) Acceptances purchased by any Canadian Lender may be held by it for its own account until maturity or sold by it at any time prior thereto in the relevant market therefor in Canada in such Canadian Lender's sole discretion.,

Purchase of Acceptances. (a) Each Canadian Lender hereby agrees, on the terms and subject to the conditions set forth in this Agreement, to purchase Acceptances created by it on the Borrowing Date with respect thereto for the applicable Acceptance Purchase Price and to notify the Canadian Administrative Agent that such Draft has been accepted and purchased by such accepting Canadian Lender. (b) In the event that the Canadian Administrative Agent receives a Request for Acceptances to be created upon conversion of Canadian Term Loans pursuant to Section 5.1, then the Canadian Borrower shall pay on the requested Borrowing Date to the Canadian Administrative Agent, for the account of the Canadian Lenders, the principal amount of the then outstanding Canadian Term Loans being so converted, and each Canadian Lender shall accept and purchase the Canadian Borrower's Drafts having an aggregate face amount not greater than the principal amount of the Canadian Term Loans of such Canadian Lender which are then being converted (it being understood and agreed that for the purposes of this Section 5.3(b), such payment by the Canadian Borrower of such outstanding Canadian Term Loans may be in part from the Acceptance Purchase Price of such Drafts); provided PROVIDED that, following the occurrence and during the continuance of a Default or an Event of Default, no Acceptances may be created. (c) Acceptances purchased by any Canadian Lender may be held by it for its own account until maturity or sold by it at any time prior thereto in the relevant market therefor in Canada in such Canadian Lender's sole discretion.