Examples of CDOR Rate Loan in a sentence
Upon the occurrence of an Event of Default in respect of the Borrower, the Lender may convert a CDOR Rate Loan owing by the Borrower to a Canadian Prime Rate Loan.
If the Borrower fails to deliver a Rollover Notice to the Lender as provided in this Section, the Borrower shall be deemed to have given a Conversion Notice to the Lender electing to convert the entire amount of the maturing CDOR Rate Loan into a Canadian Prime Rate Loan.
The Borrower shall pay interest on each CDOR Rate Loan owing by it during each Interest Period applicable thereto in Canadian Dollars at a rate per annum equal to the CDOR Rate with respect to such Interest Period plus the Applicable Pricing Rate.
Wherever in this Agreement in connection with a Borrowing, continuation or prepayment of a CDOR Rate Loan, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such CDOR Rate Loan is denominated in Canadian Dollars, such amount shall be the Canadian Dollar Equivalent of such Dollar amount (rounded to the nearest unit of Canadian Dollars, with 0.5 of a unit being rounded upward), as determined by the Agent.
If a Default or an Event of Default shall exist upon the expiration of an Interest Period applicable to any CDOR Rate Loan, such CDOR Rate Loan shall be continued as a CDOR Rate Loan with an Interest Period of one month.