Best Buy 2003 Annual Report Download - page 74
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4.2.3.1 which is not a Business Day; or
4.2.3.2 which is a date subsequent to the date of maturity or expiry of the Operating Loan under which the subject
Bankers’ Acceptance is to be created;
requested by the Borrower in relation to an original advance under the Operating Loan (as opposed to a Bankers’ Acceptance which
the Bank is requested to accept in respect of the conversion of advances previously made by the Bank and remaining outstanding
under the Operating Loans or the conversion of an existing Bankers’ Acceptance to a new Bankers’ Acceptance);
4.2.4 if an Event of Default has occurred, or if the Bank has made demand for payment of any of the
Loans; or
4.2.5 if the Bank has, by at least one Business Day prior to the proposed acceptance date for the
Bankers’ Acceptance, advised the Borrower that, because general market conditions have caused it to
become impracticable to do so, the Bank is no longer making funds available by way of Bankers’
Acceptances in the ordinary course of its business.
4.3. Each Bankers’ Acceptance shall be deemed to be an availment of the Operating
Loan under which such Bankers’ Acceptance is created for the term of such Bankers’
Acceptance in an amount equal to the face amount thereof.
4.4. The Borrower will pay to the Bank at the time of acceptance of each Bankers’
Acceptance under the Operating Loan, a stamping fee equal to 1.50% of the face
amount thereof, such fees will be calculated on the basis of a year of 365 days (or 366
days, in the case of a leap year), provided that where the term of such Bankers’
Acceptance is greater or less than one year, then such annual fee will be prorated
according to the ratio that the number of days from the date on which the applicable
Bankers’ Acceptance is accepted to the date on which such Bankers’ Acceptance
matures (inclusive of both such days), bears to 365 days (or 366 days, in the case of a
leap year);
4.5. The Borrower will also pay to the Bank in respect of each Bankers’ Acceptance
its prevailing fees and charges for issuing the same and effecting payment thereunder,
and will pay on request all other out−of−pocket disbursements or costs incurred by the
Bank in relation to the issuance of, or payment pursuant to each Bankers’ Acceptance.
6
4.6. All Bankers’ Acceptances will be issued on and subject to the terms and
conditions set forth in the Bank’s standard forms relating thereto and issued on such
other terms and conditions as are acceptable to the Bank, acting reasonably. The