Common use of Additional Alternative Currencies Clause in Contracts

Additional Alternative Currencies. The Parent Borrower may from time to time request that Revolving Loans be made and/or Letters of Credit be issued in a currency other than dollars; provided that such requested currency is an Eligible Currency. Such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing Banks. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments); and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of a request pertaining to Revolving Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Credit Agreement (SMART Global Holdings, Inc.)

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Additional Alternative Currencies. (a) The Parent Borrower may Borrowers’ Agent may, from time to time time, request that Revolving Loans a Loan to a ROW Borrower or ANZ Borrower be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of the term “Alternative Currency”; provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request (i) with respect to the making of Loans to a ROW Borrower or ANZ Borrower, such request shall be subject to the approval of the Administrative Agent; andAgent and each Lender with a Pro Rata Revolving Credit Commitment or ANZ Revolving Credit Commitment, in the case of any such request with respect to Revolving Loansas applicable, each Revolving Lender; and, in the case of any such request and (ii) with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksAgent and each Letter of Credit Issuer that will be required to issue Letters of Credit in such Alternative Currency. (b) Any such request with respect to an additional Alternative Currency shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) New York City time, 10 Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request with respect to Letters of Credit, each applicable Letter of Credit Issuer). The Agent shall promptly notify each Lender with a Pro Rata Revolving Credit Commitment or ANZ Revolving Credit Commitment, as applicable (in the case of any such request pertaining to Loans) and each applicable Letter of Credit Issuer (in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank, in its or their sole discretion). In the case Each Lender with a Pro Rata Revolving Credit Commitment or ANZ Revolving Credit Commitment, as applicable, or each applicable Letter of any such request pertaining to Revolving LoansCredit Issuer, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments); and in the case of any such request pertaining to Letters of Creditas applicable, the Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of a request pertaining to Revolving Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) New York City time, 10 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans to a ROW Borrower or ANZ Borrower or the issuance of Letters of Credit, as applicable, in such requested currency. (c) Any failure by Revolving a Lender or a Letter of Credit Issuer, as applicable, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by of such Revolving Lender or such Letter of Credit Issuer, as applicable, to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of made to a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit ROW Borrower or ANZ Borrower or Letters of Credit to be issued in such requested currency. If the Administrative Agent (andand the applicable Lenders or the applicable Letter of Credit Issuer, in the case of any request with respect to Revolving Loansas applicable, each Revolving Lender) consents consent to making Revolving of Loans to a ROW Borrower or ANZ Borrower or the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) Borrowers’ Agent and, upon amendment of this Agreement in such manner as shall be agreed by the Administrative Agent and the Parent Borrower may amend Borrowers’ Agent to implement the definition inclusion of Benchmark for any such currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currencypurposes, such currency shall thereupon be deemed for all purposes to be an Alternative Currency Currency” hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents Loans made to the issuance of a ROW Borrower or ANZ Borrower or any Letters of Credit in such requested currencyCredit, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuancesas applicable. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.7, the Administrative Agent shall promptly so notify the Parent Borrower.Borrowers’ Agent. Additionally, if at any time, any Lender(s) and/or any Letter of Credit Issuer(s) notify the Agent that they will no longer be able to extend Loans and/or issue Letters of Credit, as applicable, in an Alternative Currency approved pursuant to this Section 1.7, the Agent shall promptly notify the Borrowers’ Agent, and such Alternative Currency shall no longer be an “Alternative Currency” hereunder effective (i) in the case of any Loan or Letter of Credit to be made or issued after receipt of such notice, immediately after receipt thereof and (ii) otherwise, five Business Days after receipt of such notice. (d) For the avoidance of doubt, any notice requirements applicable to Loans made to ROW Borrowers or ANZ Borrowers or Letters of Credit in Alternative Currencies shall be substantially similar to those set forth in Sections 2.2 and 4.1(b) (with respect to EURIBOR Loans) and Section 2.4 (with respect to Letters of Credit) or on such other terms as are mutually agreed by the Agent (and, in the case of any Letters of Credit, each applicable Letter of Credit Issuer) and the Borrowers’ Agent. 74 [[5848018]][[DMS:6312716v7:05/07/2024--04:04 PM]] 4861-2153-1574 v.2

Appears in 1 contract

Samples: Credit Agreement (United Rentals North America Inc)

Additional Alternative Currencies. (a) The Parent Borrower may from time to time request that Revolving Alternative Currency Loans be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currency. Such In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, Agent and each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksAdministrative Agent and the L/C Issuer. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternative Currency Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuer thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving Alternative Currency Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternative Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by an Issuing Bank a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Lender or the L/C Issuer, as the case may be, to permit Alternative Currency Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents and such Lenders consent to making Revolving Alternative Currency Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.69 1010279941v18

Appears in 1 contract

Samples: Credit Agreement (Mercury Systems Inc)

Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Alternative Currency Loans be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in clause (i) of the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely convertible into Dollars. Such In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, Agent and each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the Administrative Agent and the applicable Issuing BanksL/C Issuer. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) 15 Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternative Currency Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks each L/C Issuer thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving Eurocurrency RateTerm SOFR Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank or each L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternative Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by an Issuing Bank a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Lender or the L/C Issuer, as the case may be, to permit Alternative Currency Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Alternative Currency Loans in such requested currency and the Administrative Agent and such Lenders reasonably determine that an appropriate interest rate is available to be used for such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (Ai) the Administrative Agent and such Lenders (with the Parent Borrower consent of the Company) may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto Alternative Currency Daily Rate or Alternative Currency Term Rate to the extent necessary to add the applicable Benchmark rate for such currency and any applicable adjustment for such rate and (Bii) to the extent the definition of Alternative Currency Daily Rate or Alternative Currency Term SOFR reflects the appropriate interest rate for such currency or Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing Borrowings of Revolving Alternative Currency Loans; . If the Administrative Agent and if the applicable Issuing Bank also consents L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If (iii) the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.and 50

Appears in 1 contract

Samples: Credit Agreement (Warner Bros. Discovery, Inc.)

Additional Alternative Currencies. (a) The Parent Borrower Representative may from time to time request that Revolving Alternative Currency Loans be made under the Aggregate Revolving Commitments and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, Agent and each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksAdministrative Agent and the L/C Issuer. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) 15 Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternative Currency Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuer thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving Alternative Currency Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) seven Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternative Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Credit Agreement (SharkNinja, Inc.)

Additional Alternative Currencies. The Parent Borrower may from (a) From time to time during the Availability Period, a Specified Account Party may request that Revolving Loans be made and/or Letters any or all of Credit be issued the Lenders to make offers to issue a letter of credit in a currency other than dollarsthat is not Dollars or an Alternative Currency at such time (a “Specified Alternative Currency Letter of Credit”) for the account of such Specified Account Party. Each Lender may, but shall have no obligation to, make such offers on terms and conditions that are satisfactory to such Lender, and such Specified Account Party may, but shall have no obligation to, accept any such offers. Such Specified Alternative Currency Letter of Credit shall be issued, amended, renewed or extended only if (and upon such issuance, amendment, renewal or extension of each Specified Alternative Currency Letter of Credit XL Group shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the Aggregate Credit Exposure shall not exceed the aggregate amount of the Commitments. With prior or concurrent notice to the Administrative Agent, each such Specified Alternative Currency Letter of Credit shall be issued, and subsequently, renewed, extended, amended and confirmed, on such terms as XL Group, the Specified Account Party and such Lender shall agree, including expiry, drawing conditions, reimbursement, interest, fees and provision of cover; provided that the expiry of any Specified Alternative Currency Letter of Credit shall not be later than the one-year anniversary (or such requested currency is an Eligible Currency. Such request shall longer period as may be subject to required by any applicable law, rule or regulation, but in no event greater than two years) from the approval date of the Administrative Agent; andissuance thereof (or, in the case of any renewal or extension thereof, one-year after such request renewal or extension). Each of XL Group and the issuer of a Specified Alternative Currency Letter of Credit shall provide the Administrative Agent prompt written notice of the amount, currency, date of issuance and any extension of, and each disbursement under, such Letter of Credit and reimbursement of such disbursement under such Letter of Credit. XL Group and each issuer of a Specified Alternative Currency Letter of Credit shall provide such additional information with respect to Revolving Loanssuch Specified Alternative Currency Letter of Credit as the Administrative Agent may reasonably request. Notwithstanding anything in this Agreement to the contrary, each Revolving Lender; and, in the case of any such request Administrative Agent has no responsibility with respect to the issuance issuance, renewal, extension, amendment or other administration of Letters any Specified Alternative Currency Letter of Credit, such request shall also be subject to the approval of the applicable Issuing Banks. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments); and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of a request pertaining to Revolving Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Unsecured Credit Agreement (Xl Group LTD)

Additional Alternative Currencies. (a) The Parent Borrower Borrowers may from time to time request that Revolving Loans be made and/or Letters of Credit be issued in a currency other than dollars; provided that such requested currency is an Eligible Currency. Such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of Agent and the applicable Issuing Banks. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing issuance, extension or issuance increase of a any Letter of Credit to be issued in such currency (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, and the applicable Issuing Bank, in its or their sole discretionBanks). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments); and in the case of any such request pertaining to Letters of Credit, the The Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of a request pertaining to Revolving Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence clause (b) shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and the case applicable Issuing Bank consent to the issuance of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent applicable Borrower and (A) the Administrative Agent and the Parent Borrower applicable Issuing Bank may amend the definition of Benchmark LIBO Rate for any currency for which there is no published Benchmark LIBO Rate with respect thereto to the extent necessary to add the applicable Benchmark LIBO Rate for such currency and (B) to the extent the definition of Term SOFR “LIBO Rate” reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currencyCurrency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.11, the Administrative Agent shall promptly so notify the Parent applicable Borrower.. THE CREDITS

Appears in 1 contract

Samples: Revolving Credit Agreement (Endeavor Group Holdings, Inc.)

Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Alternative Currency Loans be made and/or Letters of Credit be issued in a currency other than dollars; those specifically listed in the definition of “Alternative Currency;” provided that such requested currency is an Eligible Currency. Such In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative Agent; and, in Agent and the case of any such request with respect to Revolving Loans, each Revolving Lender; and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksLenders. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty fifteen (2015) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank, in its or their sole discretionAgent). In the case of any such request pertaining to Revolving Alternative Currency Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments thereof. Each Lender (or assignments); and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of a request pertaining to Revolving Alternative Currency Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Alternative Currency Loans in such requested currency. (c) Any failure by Revolving a Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Alternative Currency Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued made in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Alternative Currency Loans in such requested currency and the Administrative Agent and such Lenders reasonably determine that an appropriate interest rate is available to be used for such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (Ai) the Administrative Agent and the Parent Borrower such Lenders may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto Alternative Currency Daily Rate or Alternative Currency Term Rate to the extent necessary to add the applicable Benchmark rate for such currency and any applicable adjustment for such rate and (Bii) to the extent the definition of Alternative Currency Daily Rate or Alternative Currency Term SOFR reflects the appropriate interest rate for such currency or Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing Committed Borrowings of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuancesLoans. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.07, the Administrative Agent shall promptly so notify the Parent Borrower.Company. 1.08

Appears in 1 contract

Samples: Credit Agreement (Danaher Corp /De/)

Additional Alternative Currencies. The Parent Borrower (a) Company may from time to time request that Revolving Loans that are Eurodollar Rate Loans be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided provided, that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such request shall be subject to the approval of the Administrative Agent; and, in In the case of any such request with respect to the making of Revolving Loans that are Eurodollar Rate Loans, each such request shall be subject to the reasonable approval of Administrative Agent and the Revolving LenderLenders; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the reasonable approval of Administrative Agent and the applicable Issuing BanksBank. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty ten (2010) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurodollar Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of any such request pertaining to Eurodollar Rate Loans) or the Issuing Banks (in the case of a request pertaining to Revolving LoansLetters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten two (102) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Eurodollar Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by a Revolving Lender or an Issuing Bank, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The or applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of CreditBank, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed permit Eurodollar Rate Loans to be a refusal by such Issuing Bank to permit made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Eurodollar Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing borrowing of Revolving Eurodollar Rate Loans; and if Administrative Agent and the applicable Issuing Bank also consents Banks consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.5, the Administrative Agent shall promptly so notify the Parent Borrower.Company. 1.6

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Covanta Holding Corp)

Additional Alternative Currencies. The Parent (a) With respect to (i) Revolving Loans to be made as Eurocurrency Rate Loans or Alternative Currency Daily Rate Loans and (ii) Letters of Credit, the Borrower may from time to time request that Revolving such Loans be made in, and/or Letters of Credit be issued in in, a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Revolving Loans as Eurocurrency Rate Loans or Alternative Currency Daily Rate Loans, such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, Agent and each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksAdministrative Agent, the L/C Issuer issuing such Letter of Credit and each Revolving Lender. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date (but not less than eleven (11) Business Days prior) as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Loans to be made as Eurocurrency Rate Loans or Alternative Currency Daily Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuer thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank made as Eurocurrency Rate Loans or Alternative Currency Daily Rate Loans) or the L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of such Eurocurrency Rate Loans or Alternative Currency Daily Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by an Issuing Bank a Revolving Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Revolving Lender or the L/C Issuer, as the case may be, to permit Revolving Loans to be made as Eurocurrency Rate Loans or Alternative Currency Daily Rate Loans, or Letters of Credit to be issued issued, in such requested currency. If the Administrative Agent (and, in and the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Eurocurrency Rate Loans or Alternative Currency Daily Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.the

Appears in 1 contract

Samples: Credit Agreement (Healthpeak Properties, Inc.)

Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Loans be made and/or Letters of Credit be issued in a currency other than dollars; those specifically listed in the definition of “Agreed Currency;” provided that such requested currency is an Eligible Currencya lawful currency that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to Revolving Borrowings, such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, Agent and each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the Administrative Agent and the applicable Issuing BanksBank. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) 20 Business Days prior to the date of the desired Borrowing Revolving Loan or issuance of a Letter of Credit issuance date (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving LoansBorrowings, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks Bank thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving LoansBorrowings) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) 5 Business Days after receipt of such request whether it consents, in its sole discretion, to the Revolving Borrowing or the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Credit Agreement (Tapestry, Inc.)

Additional Alternative Currencies. (a) The Parent Borrower may from time to time request that Revolving Alternative Currency Loans be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currency. Such In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative AgentAgent and each Lender with a Commitment under which such currency is requested to be made available; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksAdministrative Agent and the L/C Issuer. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty ten (2010) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternative Currency Loans, the Administrative Agent shall promptly notify each Revolving applicable Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuer thereof. Each Revolving applicable Lender (in the case of a any such request pertaining to Revolving Alternative Currency Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten five (105) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternative Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by an Issuing Bank a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Lender or the L/C Issuer, as the case may be, to permit Alternative Currency Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Alternative Currency Loans in such requested currency and the Administrative Agent and such Lenders reasonably determine that an appropriate interest rate is available to be used for such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.the

Appears in 1 contract

Samples: Credit Agreement (UL Solutions Inc.)

Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than dollars; those specifically listed in the definition of "Alternative Currency;" provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative AgentAgents and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksAdministrative Agent and the L/C Issuer. (b) Any such request shall be made to the Administrative Agent Agents not later than 11:00 a.m., twenty (20) 20 Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent Agents and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, the Administrative Agent Agents shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuer thereof. Each Revolving Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or the L/C Issuer (in the case of a request pertaining to Revolving LoansLetters of Credit) shall notify each of the Administrative AgentAgents, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by Revolving a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in or the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of CreditL/C Issuer, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed permit Eurocurrency Rate Loans to be a refusal by such Issuing Bank to permit made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in Agents and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing Committed Borrowings of Revolving Eurocurrency Rate Loans; and if the applicable Issuing Bank also consents Administrative Agent and the L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.05, the Administrative Agent shall promptly so notify the Parent Borrower.Company. Any specified currency of an Existing Letter of Credit that is neither Dollars nor one of the Alternative Currencies specifically listed in the definition of "Alternative Currency" shall be deemed an Alternative Currency with respect to such Existing Letter of Credit only. 1.06

Appears in 1 contract

Samples: Credit Agreement (Technitrol Inc)

Additional Alternative Currencies. (a) The Parent Borrower Borrowers may from time to time request that Revolving Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than dollars; those specifically listed in the definition of “Alternative Currency;” provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative AgentAgent and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the Administrative Agent and the applicable Issuing BanksL/C Issuer. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) 20 Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuers thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving Eurocurrency Rate Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuers (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by a Lender or an Issuing Bank L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Lender or such L/C Issuer, as the case may be, to permit Eurocurrency Rate Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.33

Appears in 1 contract

Samples: Revolving Credit Agreement (Tech Data Corp)

Additional Alternative Currencies. (a) The Parent Borrower may from time to time request that Revolving Loans be made and/or Letters of Credit be issued in a currency other than dollars; provided that such requested currency is an Eligible Currency. Such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of Agent and the applicable Issuing Banks. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing issuance, extension or issuance increase of a any Letter of Credit to be issued in such currency (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, and the applicable Issuing Bank, in its or their sole discretionBanks). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments); and in the case of any such request pertaining to Letters of Credit, the The Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of a request pertaining to Revolving Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. .Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence clause (a) shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and the case applicable Issuing Bank consent to the issuance of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower applicable Issuing Bank may amend the definition of Benchmark LIBO Rate for any currency for which there is no published Benchmark LIBO Rate with respect thereto to the extent necessary to add the applicable Benchmark LIBO Rate for such currency and (B) to the extent the definition of Term SOFR LIBO Rate reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currencyCurrency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Collateral Agreement (Pathfinder Acquisition Corp)

Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Alternative Currency Loans be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currency. Such In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative AgentAgent and each Lender with a Commitment under which such currency is requested to be made available; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the Administrative Agent and the applicable Issuing BanksL/C Issuer. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty ten (2010) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuers, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternative Currency Loans, the Administrative Agent shall promptly notify each Revolving Appropriate Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuers thereof. Each Revolving Appropriate Lender (in the case of a any such request pertaining to Revolving Alternative Currency Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuers (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten five (105) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternative Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by an Issuing Bank a Lender or any L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Lender or such L/C Issuer, as the case may be, to permit Alternate Currency Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Appropriate Lenders consent to making Revolving Alternate Currency Loans in such requested currency and the Administrative Agent and such Lenders reasonably determine that an appropriate interest rate is available to be used for such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (Ai) the Administrative Agent and the Parent Borrower such Lenders may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto Alternative Currency Daily Rate or Alternative Currency Term Rate to the extent necessary to add the applicable Benchmark rate for such currency and any applicable adjustment for such rate and (Bii) to the extent the definition of Alternative Currency Daily Rate or Alternative Currency Term SOFR reflects the appropriate interest rate for such currency or Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing Borrowings of Revolving Alternative Currency Loans; . If the Administrative Agent and if the applicable Issuing Bank also consents L/C Issuers consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and the Administrative Agent and the L/C Issuers may amend the definition of Alternative Currency Daily Rate or Alternative Currency Term Rate, as applicable, to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate and to the extent the definition of Alternative Currency Daily Rate or Alternative Currency Term Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder Currency, for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.09, the Administrative Agent shall promptly so notify the Parent Borrower.Company. 1.09

Appears in 1 contract

Samples: Credit Agreement (Morningstar, Inc.)

Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Alternative Currency Loans and/or Foreign Swing Line Loans be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency” or, in the case of Foreign Swing Line Loans, listed in Section 2.04(a); provided that such requested currency is an Eligible Currency. Such In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative AgentAgent and each Lender with a Commitment under which such currency is requested to be made available; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the written approval of the Administrative Agent and the applicable Issuing BanksL/C Issuer that will be issuing Letters of Credit in such currency. (b) Any such request shall be made to the Administrative Agent by the Company (i) in the case of any such request pertaining to Alternative Currency Loans, to the Administrative Agent, (ii) in the case of any such request pertaining to Foreign Swing Line Loans, to the Administrative Agent and the Swing Line Lender and (iii) in the case of any such request pertaining to Letters of Credit, to the Administrative Agent and each L/C Issuer, in each case not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or earlier date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer or in the case of any such request pertaining to Foreign Swing Line Loans, the Swing Line Lender, in each case, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternative Currency Loans or Foreign Swing Line Loans, the Administrative Agent shall promptly notify each Revolving Appropriate Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuers thereof. Each Revolving Appropriate Lender (in the case of a any such request pertaining to Revolving Alternative Currency Loans), the Swing Line Lender and each Appropriate Lender (in the case of any such request pertaining to Foreign Swing Line Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuers (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternative Currency Loans or Foreign Swing Line Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. With respect to Letters of Credit, only those L/C Issuers that specifically approve any such requested currency shall be obligated to provide Letters of Credit in such currency. (c) Any failure by an Issuing Bank a Lender, the Swing Line Lender or any L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Lender, the Swing Line Lender or such L/C Issuer, as the case may be, to permit Alternative Currency Loans or Foreign Swing Line Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.requested

Appears in 1 contract

Samples: Credit Agreement (COMMERCIAL METALS Co)

Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Eurocurrency Rate Loans be made and/or Letters of Credit or Bankers’ Acceptances be issued in a currency other than dollars; those specifically listed in the definition of “Alternative Currency;” provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative AgentAgent and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of CreditCredit or Bankers’ Acceptances, such request shall also be subject to the approval of the Administrative Agent and the applicable Issuing BanksLender. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) 15 Business Days prior to the date of the desired Borrowing or issuance of a Letter Revolving Extensions of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of CreditCredit or Bankers’ Acceptances, the applicable Issuing BankLender, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of CreditCredit or Bankers’ Acceptances, the Administrative Agent shall promptly notify the applicable Issuing Banks Lender thereof. Each Revolving Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or the applicable Issuing Lender (in the case of a request pertaining to Revolving LoansLetters of Credit or Bankers’ Acceptances) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) 13 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.Eurocurrency Rate

Appears in 1 contract

Samples: Credit Agreement (Columbus McKinnon Corp)

Additional Alternative Currencies. The 89 (a) Parent Borrower may from time to time request that Revolving Loans Alternative Currency Advances be made and/or Letters of Credit be issued in a currency other than dollars; provided that those specifically listed in the definition of the term “Alternative Currency”. In the case of any such requested currency is an Eligible Currency. Such request with respect to the making of Alternative Currency Advances, such request shall be subject to the approval of the Administrative AgentAgent and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Agent and the Issuing Banks. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) 20 Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankBanks, in its or their sole discretion). In the case of any such request pertaining to Revolving LoansAlternative Currency Advances, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable each Issuing Banks Bank thereof. Each Revolving Lender (in the case of any such request pertaining to Alternative Currency Advances) or Issuing Bank (in the case of a request pertaining to Revolving LoansLetters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to Alternative Currency Advances or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by a Lender or an Issuing Bank Bank, as the case may be, to respond to such request within the time period specified in the preceding sentence clause (b) shall be deemed to be a refusal by such Lender or such Issuing Bank Bank, as the case may be, to permit Alternative Currency Advances to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Loans Alternative Currency Advances in such requested currency and the Agent and such Lenders reasonably determine that an appropriate interest rate is available to be used for such requested currency, the Administrative Agent shall so notify the Parent Borrower and (Ai) the Administrative Agent and the Parent Borrower such Lenders may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto Alternative Currency Daily Rate or Alternative Currency Term Rate to the extent necessary to add the applicable Benchmark rate for such currency and any applicable adjustment for such rate and (Bii) to the extent the definition of Alternative Currency Daily Rate or Alternative Currency Term SOFR reflects the appropriate interest rate for such currency or Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing borrowings of Revolving LoansAlternative Currency Advances; and if the applicable Agent and the Issuing Bank also consents Banks consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (i) the Agent and the Issuing Banks may amend the definition of Alternative Currency Daily Rate or Alternative Currency Term Rate, as applicable, to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate and (ii) to the extent the definition of Alternative Currency Daily Rate or Alternative Currency Term Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.13, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Gap Inc)

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Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Alternative Currency Loans be made under the Aggregate Revolving Commitments and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currency. Such In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, Agent and each Revolving applicable Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the Administrative Agent and the applicable Issuing BanksL/C Issuer. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty fifteen (2015) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other later time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternative Currency Loans, the Administrative Agent shall promptly notify each Revolving applicable Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuers thereof. Each Revolving applicable Lender (in the case of a any such request pertaining to Revolving Alternative Currency Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuers (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten seven (107) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Alternative Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by an Issuing Bank a Lender or the applicable L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If Lender or the Administrative Agent (andapplicable L/C Issuer, in as the case of any request with respect may be, to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.48 13608890v113608890v4

Appears in 1 contract

Samples: Credit Agreement (Quanta Services, Inc.)

Additional Alternative Currencies. The Parent Borrower may from time to time request that Revolving Loans be made and/or Letters of Credit be issued in a currency other than dollarsdollars or Euros; provided that such requested currency is an Eligible Currency. Such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing Banks. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments); and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of a request pertaining to Revolving Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark LIBO Rate for any currency for which there is no published Benchmark LIBO Rate with respect thereto to the extent necessary to add the applicable Benchmark LIBO Rate for such currency and (B) to the extent the definition of Term SOFR LIBO Rate reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Credit Agreement (N-Able, Inc.)

Additional Alternative Currencies. The Parent Borrower Borrowers may from time to time request that Revolving Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than dollars; those specifically listed in the definition of “Alternative Currency;” provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative AgentAgent and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Administrative Agent and the Issuing BanksBank. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) 20 Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks Bank thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving Eurocurrency Rate Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an a Lender or the Issuing Bank Bank, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Lender or the Issuing Bank Bank, as the case may be, to permit Eurocurrency Rate Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower Borrowers and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing Borrowings of Revolving Eurocurrency Rate Loans; and if the applicable Administrative Agent and the Issuing Bank also consents consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Borrowers and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.08, the Administrative Agent shall promptly so notify the Parent BorrowerCompany.

Appears in 1 contract

Samples: Credit Agreement (Velti PLC)

Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Eurocurrency Rate Loans be made and/or Letters of Credit or Bankers’ Acceptances be issued in a currency other than dollars; those specifically listed in the definition of “Alternative Currency;” provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative AgentAgent and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of CreditCredit or Bankers’ Acceptances, such request shall also be subject to the approval of the Administrative Agent and the applicable Issuing BanksLender. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) 15 Business Days prior to the date of the desired Borrowing or issuance of a Letter Revolving Extensions of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of CreditCredit or Bankers’ Acceptances, the applicable Issuing BankLender, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of CreditCredit or Bankers’ Acceptances, the Administrative Agent shall promptly notify the applicable Issuing Banks Lender thereof. Each Revolving Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or the applicable Issuing Lender (in the case of a request pertaining to Revolving LoansLetters of Credit or Bankers’ Acceptances) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) 13 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Eurocurrency Rate Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to or the issuance of Letters of CreditCredit or Bankers’ Acceptances, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Execution Version Credit Agreement (Columbus McKinnon Corp)

Additional Alternative Currencies. The Parent Borrower may from time to time request that Revolving Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than dollars; those specifically listed in the definition of "Alternative Currency;" provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative AgentAgent and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksAdministrative Agent and the L/C Issuer. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuer thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving Eurocurrency Rate Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Lender or the L/C Issuer, as the case may be, to permit Eurocurrency Rate Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing Committed Borrowings of Revolving Eurocurrency Rate Loans; and if the applicable Issuing Bank also consents Administrative Agent and the L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.06, the Administrative Agent shall promptly so notify the Parent BorrowerParent.

Appears in 1 contract

Samples: Credit Agreement (Core Laboratories N V)

Additional Alternative Currencies. (a) The Parent Borrower Borrowers may from time to time request that Revolving Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Eurocurrency Rate Loans, such request shall be subject to the approval of the Administrative AgentAgent and the Banks; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Administrative Agent and each Issuing BanksBank. (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) 20 Business Days prior to the date of the desired Borrowing or issuance of a Letter Extension of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable each Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)Bank thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable each Issuing Banks Bank thereof. Each Revolving Lender Bank (in the case of a any such request pertaining to Revolving Eurocurrency Rate Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable or each Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) 10 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by a Bank or an Issuing Bank Bank, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Bank or such Issuing Bank Bank, as the case may be, to permit Eurocurrency Rate Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Banks consent to making Revolving Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower Borrowers and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing Borrowings of Revolving Eurocurrency Rate Loans; and if the applicable Administrative Agent and each Issuing Bank also consents consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Borrowers and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.6, the Administrative Agent shall promptly so notify the Parent Borrower.Borrowers. 1.7

Appears in 1 contract

Samples: Credit Agreement (Owens & Minor Inc/Va/)

Additional Alternative Currencies. The Parent Borrower Company may from time to time request that Revolving Eurodollar Rate Loans be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Eurodollar Rate Loans, such request shall be subject to the approval of the Administrative AgentAgent and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksAdministrative Agent and the L/C Issuer. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurodollar Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuer thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving Eurodollar Rate Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurodollar Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Lender or the L/C Issuer, as the case may be, to permit Eurodollar Rate Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Eurodollar Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing Borrowings of Revolving Eurodollar Rate Loans; and if the applicable Issuing Bank also consents Administrative Agent and the L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.08, the Administrative Agent shall promptly so notify the Parent BorrowerCompany.

Appears in 1 contract

Samples: Credit Agreement (Greif Inc)

Additional Alternative Currencies. The Parent Borrower Company may from time to time request that Revolving Eurodollar Rate Loans be made and/or Letters of Credit be issued in a currency other than dollarsthose specifically listed in the definition of “Alternative Currency”; provided that such requested currency is an Eligible Currencya lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. Such In the case of any such request with respect to the making of Eurodollar Rate Loans, such request shall be subject to the approval of the Administrative AgentAgent and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing BanksAdministrative Agent and the L/C Issuer. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters #47923322 of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Eurodollar Rate Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuer thereof. Each Revolving Lender (in the case of a any such request pertaining to Revolving Eurodollar Rate Loans) shall notify or the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurodollar Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank Lender or the L/C Issuer, as the case may be, to permit Eurodollar Rate Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Eurodollar Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing Borrowings of Revolving Eurodollar Rate Loans; and if the applicable Issuing Bank also consents Administrative Agent and the L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.121.08, the Administrative Agent shall promptly so notify the Parent BorrowerCompany.

Appears in 1 contract

Samples: Credit Agreement (Greif Inc)

Additional Alternative Currencies. The Parent Borrower may from time to time request that Revolving Loans be made and/or Letters of Credit be issued in a currency other than dollars; provided that such requested currency is an Eligible Currency. Such request shall be subject to the approval of the Administrative Agent; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing Banks. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a a, extension or increase of any Letter of Credit to be issued in such currency (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankBanks, in its or their sole discretion). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments); and in the case of any such request pertaining to Letters of Credit, the the). The Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of a request pertaining to Revolving Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent Agent, the applicable Issuing Bank and the Parent Borrower may amend the definition of Benchmark LIBO Rate for any currency for which there is no published Benchmark LIBO Rate with respect thereto theretothis Agreement to the extent necessary to add the applicable Benchmark LIBOinterest Rrate for such currency and (B) to the extent the definition of Term SOFR LIBO Ratethis Agreement reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder hereunder, for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Credit Agreement (EverCommerce Inc.)

Additional Alternative Currencies. The Parent Borrower may from (a) From time to time during the Availability Period, a Specified Account Party may request that Revolving Loans be made and/or Letters any or all of Credit be issued the Lenders to make offers to issue a letter of credit in a currency other than dollarsthat is not Dollars or an Alternative Currency at such time (a “Specified Alternative Currency Letter of Credit”) for the account of such Specified Account Party. Each Lender may, but shall have no obligation to, make such offers on terms and conditions that are satisfactory to such Lender, and such Specified Account Party may, but shall have no obligation to, accept any such offers. Such Specified Alternative Currency Letter of Credit shall be issued, amended, renewed or extended only if (and upon such issuance, amendment, renewal or extension of each Specified Alternative Currency Letter of Credit XL Group shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the Aggregate LC Exposure shall not exceed the aggregate amount of the Commitments. With prior or concurrent notice to the Administrative Agent, each such Specified Alternative Currency Letter of Credit shall be issued, and subsequently, renewed, extended, amended and confirmed, on such terms as XL Group, the Specified Account Party and such Lender shall agree, including expiry, drawing conditions, reimbursement, interest, fees and provision of cover; provided that the expiry of any Specified Alternative Currency Letter of Credit shall not be later than the one-year anniversary (or such requested currency is an Eligible Currency. Such request shall longer period as may be subject to required by any applicable law, rule or regulation, but in no event greater than two years) from the approval date of the Administrative Agent; andissuance thereof (or, in the case of any renewal or extension thereof, one-year after such request renewal or extension). Each of XL Group and the issuer of a Specified Alternative Currency Letter of Credit shall provide the Administrative Agent prompt written notice of the amount, currency, date of issuance and any extension of, and each disbursement under, such Letter of Credit and reimbursement of such disbursement under such Letter of Credit. XL Group and each issuer of a Specified Alternative Currency Letter of Credit shall provide such additional information with respect to Revolving Loanssuch Specified Alternative Currency Letter of Credit as the Administrative Agent may reasonably request. Notwithstanding anything in this Agreement to the contrary, each Revolving Lender; and, in the case of any such request Administrative Agent has no responsibility with respect to the issuance issuance, renewal, extension, amendment or other administration of Letters any Specified Alternative Currency Letter of Credit, such request shall also be subject to the approval of the applicable Issuing Banks. Any such request shall be made to the Administrative Agent not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Bank, in its or their sole discretion). In the case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments); and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks thereof. Each Revolving Lender (in the case of a request pertaining to Revolving Loans) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Loans in such requested currency. Any failure by Revolving Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower and (A) the Administrative Agent and the Parent Borrower may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.

Appears in 1 contract

Samples: Secured Credit Agreement (Xl Group LTD)

Additional Alternative Currencies. (a) The Parent Borrower Company may from time to time request that Revolving Alternative Currency Loans be made and/or Letters of Credit be issued in a currency other than dollars; those specifically listed in the definition of “Alternative Currency;” provided that such requested currency is an Eligible Currency. Such In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative AgentAgent and the Lenders; and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the Administrative Agent and the applicable Issuing BanksL/C Issuer. (b) Any such request shall be made to the Administrative Agent not later than 11:00 10:00 a.m., twenty (20) 20 Business Days prior to the date of the desired Borrowing or issuance of a Letter of Credit Extension (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Revolving Alternative Currency Loans, the Administrative Agent shall promptly notify each Revolving Lender of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuer thereof. Each Revolving Lender (in the case of any such request pertaining to Alternative Currency Loans) or the applicable L/C Issuer (in the case of a request pertaining to Revolving LoansLetters of Credit) shall notify the Administrative Agent, not later than 11:00 10:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Revolving Alternative Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by Revolving a Lender or an L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Lender to permit Revolving Loans to be issued in or such requested currency. The applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of CreditL/C Issuer, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed permit Alternative Currency Loans to be a refusal by such Issuing Bank to permit made or Letters of Credit to be issued in such requested currency. If the Administrative Agent (and, in and all the case of any request with respect to Revolving Loans, each Revolving Lender) consents Lenders consent to making Revolving Alternative Currency Loans in such requested currency and the Administrative Agent and such Lenders reasonably determine that an appropriate interest rate is available to be used for such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (Ai) the Administrative Agent and the Parent Borrower such Lenders may amend the definition of Benchmark for any currency for which there is no published Benchmark with respect thereto Alternative Currency Daily Rate or Alternative Currency Term Rate to the extent necessary to add the applicable Benchmark rate for such currency and any applicable adjustment for such rate and (Bii) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.12, the Administrative Agent shall promptly so notify the Parent Borrower.Daily Rate 44 158477613_2174043865_5

Appears in 1 contract

Samples: Credit Agreement (Stericycle Inc)

Additional Alternative Currencies. (a) The Parent Borrower may from time to time request (each, a “Supplemental Request”) that the Revolving Credit Lenders provide one or more commitments for Eurocurrency Rate Loans to be made and/or Letters of Credit to be issued in a currency (each, a “Supplemental Currency”) other than dollarsthose specifically listed in the definition of “Alternative Currency” at the time such request is made; provided that such the requested Supplemental Currency is a lawful currency (other than Dollars) that is an Eligible Currencyreadily available and freely transferable and convertible into Dollars. Such request Each Supplemental Request shall be (i) subject to the approval of the Administrative Agent; Agent and, in the case of any such request with respect to Revolving Loans, each Revolving Lender; and, in the case of any such request a Supplemental Request with respect to the issuance of Letters of Credit, such request shall also be subject to the approval of the applicable Issuing Banks. Any such request shall be L/C Issuers and (ii) made in writing to the Administrative Agent not later than 11:00 a.m., twenty (20) 20 Business Days prior to the date of that the desired Borrowing or issuance of a Letter of Credit commitment in such Supplemental Currency would take effect (or such other time or date as may be reasonably agreed by the Administrative Agent and, in the case of any such request a Supplemental Request pertaining to Letters of Credit, the applicable Issuing BankL/C Issuers, in its or their sole discretion). In the case of any such request pertaining to Revolving Loans, the The Administrative Agent shall promptly notify each Revolving Credit Lender following its receipt of the interest rate applicable to such Eligible Currency and the minimum denominations applicable to partial prepayments (or assignments)a Supplemental Request; and in the case of any such request a Supplemental Request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuing Banks L/C Issuers thereof. No Revolving Credit Lender shall be obligated to provide a commitment in a Supplemental Currency. Each Revolving Credit Lender that agrees to provide a commitment in a Supplemental Currency (in the case of a request pertaining to Revolving Loanseach, an “Authorizing Lender”) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request Supplemental Request whether it consents, in its sole discretion, agrees to the making of Revolving provide a commitment for Eurocurrency Rate Loans in such requested currencythe applicable Supplemental Currency. Any failure by Revolving an Authorizing Lender to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Authorizing Lender to permit Revolving Loans to be issued in such requested currency. The applicable Issuing Bank (provide a commitment in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the issuance of Letters of Credit, as the case may be, in such requested currency. Any failure by an Issuing Bank to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Issuing Bank to permit Letters of Credit to be issued in such requested currencyapplicable Supplemental Currency. If the Administrative Agent (and, if applicable, the L/C Issuers consent to a Supplemental Request, and one or more Revolving Credit Lenders agree to provide a commitment in the case of any request with respect to Revolving Loans, each Revolving Lender) consents to making Revolving Loans in such requested currencyapplicable Supplemental Currency, the Administrative Agent shall so notify the Parent Borrower and (A) Borrower, the Administrative Agent and the Parent Borrower may amend shall determine the definition of Benchmark for date such commitment shall become effective (the “Supplemental Tranche Effective Date”), and any currency for which there is no published Benchmark with respect thereto to the extent necessary to add the applicable Benchmark for such currency and (B) to the extent the definition of Term SOFR reflects the appropriate interest rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowing of Revolving Loans; and if the applicable Issuing Bank also consents to the issuance of Letters of Credit in such requested currency, the other terms relating thereto. The Administrative Agent shall so promptly distribute a revised Schedule 2.01 to each Revolving Credit Lender reflecting such new commitment and notify each Revolving Credit Lender of the Parent Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuancesSupplemental Tranche Effective Date. If the Administrative Agent shall fail to obtain any requisite consent to any request for an additional currency under this Section 1.12a Supplemental Request or no Revolving Credit Lender agrees to provide a commitment in the applicable Supplemental Currency, the Administrative Agent shall promptly so notify the Parent Borrower. Each Supplemental Request shall be made in the form of an addendum substantially in the form of Exhibit G (a “Supplemental Addendum”) and sent to the Administrative Agent and shall set forth the proposed Supplemental Currency and the other matters set forth on the form of Supplemental Addendum. As a condition precedent to the addition of a commitment in a Supplemental Currency to this Agreement: (i) each applicable Authorizing Lender must be able to make Revolving Credit Loans in the Supplemental Currency in accordance with applicable laws and regulations, (ii) each applicable Authorizing Lender providing a commitment in the Supplemental Currency and the Administrative Agent, and the L/C Issuers if its consent to the addition of such commitment is required, must execute the requested Supplemental Addendum, (iii) the Borrower must execute the Supplemental Addendum and (iv) any other documents or certificates that shall be reasonably requested by the Administrative Agent in connection with the addition of such commitment shall have been delivered to the Administrative Agent in form and substance reasonably satisfactory to the Administrative Agent. In connection with the addition of a commitment in a Supplemental Currency, the Administrative Agent, the Borrower and the Lenders with such commitments may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to implement the provisions of this Section, a copy of which shall be made available to each Lender. This Section shall supersede any provisions in Section 11.01 to the contrary to the extent necessary to give effect to this Section 1.08.

Appears in 1 contract

Samples: Credit Agreement (Corporate Property Associates 17 - Global INC)

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