Additional Foreign Currencies. (i) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. 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 Agent and each Swiss/Multicurrency Revolving Credit Lender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuer. (ii) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or 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. (New York City time), ten 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. (iii) Any failure by a Lender or a 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 Lender or 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings of Swiss/Multicurrency Revolving Credit Loans; and if the 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 a Foreign 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 1.09(c), the Administrative Agent shall promptly so notify the Parent Borrower. (iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 4 contracts
Samples: Credit Agreement (Iqvia Holdings Inc.), Credit Agreement (Iqvia Holdings Inc.), Credit Agreement (Iqvia Holdings Inc.)
Additional Foreign Currencies. (i) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. 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 Agent and each Swiss/Multicurrency Revolving Credit Lender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuer.
(ii) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or 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. (New York City time), ten 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.
(iii) Any failure by a Lender or a 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 Lender or 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings of Swiss/Multicurrency Revolving Credit Loans; and if the 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 a Foreign 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 1.09(c), the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 4 contracts
Samples: Credit Agreement (Iqvia Holdings Inc.), Credit Agreement (Quintiles IMS Holdings, Inc.), Credit Agreement (Quintiles IMS Holdings, Inc.)
Additional Foreign Currencies. (i) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Foreign Currency Loans be made and/or and/or, subject to Section 2.05, Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate Foreign Currency Loans, such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Foreign Currency Lenders; 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 L/C IssuerIssuing Bank.
(ii) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time)a.m., twenty (20) Business Days prior to the date of the desired Foreign Currency Loan or Letter of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Foreign Currency Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Foreign Currency Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall also promptly notify the applicable L/C Issuer thereofIssuing Bank. Each Swiss/Multicurrency Revolving Credit Foreign Currency Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer (and, in the case of a request pertaining to Letters of Credit) , the Issuing Bank shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time)10:00 a.m., ten (10) Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Foreign Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iii) Any failure by a Foreign Currency Lender or a L/C Issuerthe 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 Foreign Currency Lender or L/C Issuerthe Issuing Bank, as the case may be, to permit Eurocurrency Rate Foreign Currency Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Swiss/Multicurrency Revolving Credit Foreign Currency Lenders consent to making Eurocurrency Rate Foreign Currency Loans 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 a Foreign Currency hereunder for purposes of any borrowings of Swiss/Multicurrency Revolving Credit Foreign Currency Loans; and if the Administrative Agent Agent, the Foreign Currency Lenders and the L/C Issuer Issuing Bank 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 a Foreign 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 1.09(c)2.02, the Administrative Agent shall promptly so notify the Parent BorrowerCompany.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 3 contracts
Samples: Credit Agreement (Valmont Industries Inc), Credit Agreement (Valmont Industries Inc), Credit Agreement (Valmont Industries Inc)
Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition definitions of “Foreign Currency” and “Additional L/C Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and readily convertible into DollarsDollars in the London interbank market. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such Such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and or in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty ten (10) Business Days prior to the date of the desired Advance or the issuance of the applicable Letter of Credit Extension (or such other time or date shorter period as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time), ten five (5) Business Days after receipt of such request (or such other time or date as may be agreed by the Administrative Agent in its sole discretion and notified to the Lenders) 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.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C IssuerIssuing Lender, 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings Advance of Swiss/Multicurrency Revolving Credit Eurocurrency Loans; and if the Administrative Agent and the L/C Issuer applicable Issuing Lender 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 a Foreign Currency (if also approved for purposes of any Advance of Eurocurrency Loans or if approved by all Issuing Lenders) or Additional L/C Currency (if not so approved), as applicable, hereunder for purposes of any Letter of Credit issuancesissuances by such Issuing Lender. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.09(c)1.05, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 3 contracts
Samples: Credit Agreement (GXO Logistics, Inc.), Credit Agreement (GXO Logistics, Inc.), Credit Agreement (XPO Logistics, Inc.)
Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and readily convertible into DollarsDollars in the London interbank market. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such Such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and or in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty ten (10) Business Days prior to the date of the desired Advance or the issuance of the applicable Letter of Credit Extension (or such other time or date shorter period as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time), ten five (5) Business Days after receipt of such request (or such other time or date as may be agreed by the Administrative Agent in its sole discretion and notified to the Lenders) 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.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C IssuerIssuing Lender, 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings Advance of Swiss/Multicurrency Revolving Credit Eurocurrency Loans; and if the Administrative Agent and the L/C Issuer applicable Issuing Lender 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 a Foreign Currency hereunder for purposes of any Letter of Credit issuancesissuances by such Issuing Lender. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.09(c)1.05, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 3 contracts
Samples: Credit Agreement (Salesforce, Inc.), Credit Agreement (SALESFORCE.COM, Inc.), Credit Agreement (Salesforce Com Inc)
Additional Foreign Currencies. (i) The Parent Borrower Company may from time to time request that Japanese/Multicurrency Revolving Loans or Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency LIBOR Rate Loans be made and/or in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency otherwise meets the requirements set forth in such definition. Any such request shall be made to the Administrative Agent (which shall promptly notify each Lender thereof) not later than 11:00 a.m., ten (10) Business Days prior to the date of the desired borrowing in such currency. Each Lender shall notify the Administrative Agent, not later than 11:00 a.m., seven (7) Business Days after receipt of such request whether it consents, in its sole discretion, to making LIBOR Rate Loans in such requested currency. Any failure by 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 Lender to make LIBOR Rate Loans in such requested currency. If all the Lenders consent to making LIBOR Rate Loans in such requested currency, the Administrative Agent shall so notify the Company and such currency shall thereupon be deemed for all purposes to be a Foreign Currency hereunder. If all of the Lenders who refuse to make LIBOR Rate Loans in such requested currency notify the Foreign Currency Fronting Bank of their request for Wachovia to front such Foreign Currency Loans for them in accordance with the definition of “Foreign Currency Participant” and all other Lenders otherwise consent to such currency in the manner set forth above, then such currency shall thereupon be deemed for all purposes to be a Foreign Currency hereunder. Notwithstanding the foregoing, the Company may from time to time request that Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarsrequest otherwise meets the requirements set forth in such definition. In the case of any such request with respect to a request, the making of Eurocurrency Rate Loans, such request Company shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of notify the Administrative Agent and the L/C Issuer.
Issuing Lender. The Issuing Lender shall have seven (ii7) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or 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. (New York City time), ten Business Days after receipt of such request whether it consentsto consent, 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.
(iii) Any failure by a Lender or a 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 Lender or 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings of Swiss/Multicurrency Revolving Credit Loans; and if the Administrative Agent and the L/C Issuer consent to the issuance of issue 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 a Foreign 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 1.09(c), the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Ims Health Inc), Credit Agreement (Ims Health Inc)
Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Foreign Currency Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; ;” provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarsan Eligible Currency. In the case of any such request with respect to the making of Eurocurrency Rate Foreign Currency Loans, such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C IssuerIssuing Bank (which approval shall not be unreasonably withheld, conditioned or delayed).
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time)a.m., twenty 20 Business Days prior to the date of the desired Credit Extension Event (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Foreign Currency Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Bank thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Foreign Currency Loans) or L/C Issuer the 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. (New York City time)a.m., ten Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Foreign Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iiic) Any failure by a Lender or a L/C Issuerthe 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 Lender or L/C Issuerthe Issuing Bank, as the case may be, to permit Eurocurrency Rate Foreign Currency Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Foreign Currency Loans in such requested currency and the Administrative Agent and such Lenders reasonably determine in consultation with the Company that an appropriate interest rate is available to be used for such requested currency, the Administrative Agent shall so notify the Parent Borrower Company in writing and (i) the Administrative Agent, the Company and such Lenders may amend the definition of Alternative Currency Daily Rate or Alternative Currency Term Rate to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate, (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, and such currency shall thereupon be deemed for all purposes to be a Foreign an Agreed Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Foreign Currency Loans; and if the Administrative Agent and the L/C Issuer Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company in writing and (iii) the Administrative Agent and the Issuing Bank 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 (iv) 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, and such currency shall thereupon be deemed for all purposes to be a Foreign an Agreed 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 1.09(c)1.07, the Administrative Agent shall promptly so notify the Parent BorrowerCompany in writing.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Bruker Corp), Credit Agreement (Bruker Corp)
Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. 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 Agent and each Swiss/Multicurrency Revolving Credit Lender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C IssuerIssuing Bank.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Bank thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer 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. (New York City time), ten 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.
(iiic) Any failure by a Lender or a L/C IssuerIssuing 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 L/C IssuerIssuing 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings of Swiss/Multicurrency Revolving Credit Loans; and if the Administrative Agent and the L/C Issuer Issuing Bank 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 a Foreign 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 1.09(c)1.6, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (IMS Health Holdings, Inc.), Credit and Guaranty Agreement (IMS Health Holdings, Inc.)
Additional Foreign Currencies. (ia) The Parent Borrower WBA may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; ;” provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and readily convertible into DollarsDollars in the applicable market. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such Such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty fifteen (15) Business Days prior to the date of the desired Loan or L/C Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or the applicable 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. (New York City time), ten five (5) 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.
(iiic) Any failure by a Lender or a 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 Lender or 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower WBA and such currency shall thereupon be deemed for all purposes to be a Foreign Currency hereunder for purposes of any borrowings Borrowing of Swiss/Multicurrency Revolving Credit Loans; and if the Administrative Agent and the L/C Issuer Issuers consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent applicable Borrower and such currency shall thereupon be deemed for all purposes to be a Foreign 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 1.09(c)1.06, the Administrative Agent shall promptly so notify the Parent applicable Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition definitions of “Foreign Currency” and “Additional L/C Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarscurrency. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such Such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and or in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty ten (10) Business Days prior to the date of the desired Advance or the issuance of the applicable Letter of Credit Extension (or such other time or date shorter period as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time), ten five (5) Business Days after receipt of such request (or such other time or date as may be agreed by the Administrative Agent in its sole discretion and notified to the Lenders) 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.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C IssuerIssuing Lender, 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings Advance of Swiss/Multicurrency Revolving Credit Loans; and if the Administrative Agent and the L/C Issuer applicable Issuing Lender 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 a Foreign Currency (if also approved for purposes of any Advance of Loans or if approved by all Issuing Lenders) or Additional L/C Currency (if not so approved), as applicable, hereunder for purposes of any Letter of Credit issuancesissuances by such Ixxxxxx Xxxxxx. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.09(c)1.05, the Administrative Agent shall promptly so notify the Parent Borrower.
(ivd) If the applicable Lenders agree such requested currency is deemed to make be a Eurocurrency Rate Loan Foreign Currency or an Additional L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or YenCurrency, the Administrative Agent may (with the consent of the Borrower and the Parent Borrower may no other Person) amend this Agreement and any other Loan Document to make any technical, administrative or operational changes (including include the interest rate applicable to such currency and to apply conforming changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing relevant definitions and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Samples: Credit Agreement (RXO, Inc.)
Additional Foreign Currencies. (ia) The Parent Borrower Borrowers may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Euro-Currency Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarsan Eligible Currency. In the case of any such request with respect to the making of Eurocurrency Rate Multi-Currency Loans, such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit LenderBank; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C IssuerMulti-Currency Issuing Banks.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time)a.m., twenty (20) Domestic Business Days prior to the date of the desired Borrowing or issuance, extension or the increase in the amount of any Letter of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerMulti-Currency Issuing Banks, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Euro-Currency Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender Bank thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Multi-Currency Issuing Banks thereof. Each Swiss/Multicurrency Revolving Credit Lender Bank (in the case of any such request pertaining to Eurocurrency Rate Euro-Currency Loans) or L/C Issuer the Multi-Currency Issuing Banks (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time)a.m., ten (10) Domestic Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Euro-Currency Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iiic) Any failure by a Lender Bank or a L/C IssuerMulti-Currency 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 Lender Bank or L/C IssuerMulti-Currency Issuing Bank, as the case may be, to permit Eurocurrency Rate Euro-Currency Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Swiss/Multicurrency Revolving Credit Lenders Banks consent to making Eurocurrency Rate Euro-Currency Loans in such requested currency and the Administrative Agent and such Banks 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 Borrowers and (i) the Administrative Agent and such Banks may amend the definition of Multi-Currency Daily Rate or Multi-Currency Term Rate 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 Multi-Currency Daily Rate or Multi-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 a Foreign Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Euro-Currency Loans; and if . If the Administrative Agent and the L/C Issuer Multi-Currency Issuing Banks consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Borrowers and (iii) the Administrative Agent and the Multi-Currency Issuing Banks may amend the definition of Multi-Currency Daily Rate or Multi-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 (iv) to the extent the definition of Multi-Currency Daily Rate or Multi-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 a Foreign 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 1.09(c)1.7, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or Borrowers. Any specified currency of an L/C Issuer agrees to issue a Existing Letter of Credit that is neither Dollars nor one of the Foreign Currencies specifically listed in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,Foreign Currency” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may shall be appropriate deemed a Foreign Currency with respect to reflect such Loans or Letters Existing Letter of Credit being denominated in such currency under this Agreementonly.
Appears in 1 contract
Samples: Credit Agreement (Allegion PLC)
Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; ;” provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarsan Eligible Currency. 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 Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C IssuerIssuing Bank (which approval shall not be unreasonably withheld, conditioned or delayed).
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time)a.m., twenty 20 Business Days prior to the date of the desired Credit Extension Event (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Bank thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the 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. (New York City time)a.m., ten 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.
(iiic) Any failure by a Lender or a L/C Issuerthe 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 Lender or L/C Issuerthe Issuing 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company in writing and such currency shall thereupon be deemed for all purposes to be a Foreign an Agreed Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Eurocurrency Loans; and if the Administrative Agent and the L/C Issuer Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company in writing and such currency shall thereupon be deemed for all purposes to be a Foreign an Agreed 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 1.09(c)1.07, the Administrative Agent shall promptly so notify the Parent BorrowerCompany in writing.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Samples: Credit Agreement (Bruker Corp)
Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition definitions of “Foreign Currency” and “Additional L/C Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarscurrency. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such Such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and or in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty ten (10) Business Days prior to the date of the desired Advance or the issuance of the applicable Letter of Credit Extension (or such other time or date shorter period as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time), ten five (5) Business Days after receipt of such request (or such other time or date as may be agreed by the Administrative Agent in its sole discretion and notified to the Lenders) 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.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C IssuerIssuing Lender, 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings Advance of Swiss/Multicurrency Revolving Credit Loans; and if the Administrative Agent and the L/C Issuer applicable Issuing Lender consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower and 42 #98230960v1
(d) If such requested currency shall thereupon be is deemed for all purposes to be a Foreign Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for or an additional currency under this Section 1.09(c)Additional L/C Currency, the Administrative Agent shall promptly so notify may (with the Parent Borrower.
(ivconsent of the Borrower and no other Person) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement and any other Loan Document to make any technical, administrative or operational changes (including include the interest rate applicable to such currency and to apply conforming changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing relevant definitions and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Samples: Credit Agreement (RXO, Inc.)
Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that (i) such requested currency complies with the proviso in the definition of “Foreign Currency” and (ii) such requested currency shall only be treated as a “LIBOR Quoted Currency” to the extent that there is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarspublished LIBOR rate for such currency. 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 Agent and each Swiss/Multicurrency Revolving Credit LenderLender with a Commitment under which such currency is requested to be made available; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. a.m., ten (New York City time), twenty 10) Business Days prior to the date of the desired Extension of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Appropriate Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Appropriate Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. a.m., five (New York City time), ten 5) 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.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C Issuersuch Issuing Lender, 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 all the Swiss/Multicurrency Revolving Credit Appropriate Lenders consent to making Eurocurrency Rate 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 (i) the Administrative Agent and such Lenders may amend the definition of Eurocurrency Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable Eurocurrency Rate for such currency and (ii) to the extent the definition of Eurocurrency 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 a Foreign Currency hereunder for purposes of any borrowings Extensions of Swiss/Multicurrency Revolving Credit of Eurocurrency Rate Loans; and if . If the Administrative Agent and the L/C Issuer applicable Issuing Lender consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (A) the Administrative Agent and the applicable Issuing Lender may amend the definition of Eurocurrency Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable Eurocurrency Rate for such currency and (B) to the extent the definition of Eurocurrency 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 a Foreign 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 1.09(c)1.9, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or Company. Any specified currency of an L/C Issuer agrees to issue a Existing Letter of Credit that is neither Dollars nor one of the Foreign Currencies specifically listed in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,Foreign Currency” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may shall be appropriate deemed an Agreed Currency with respect to reflect such Loans or Letters Existing Letter of Credit being denominated in such currency under this Agreementonly.
Appears in 1 contract
Samples: Credit Agreement (Blackbaud Inc)
Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed referenced in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than U.S. Dollars) that is readily available and freely transferable and convertible into U.S. Dollars. 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 Multicurrency Administrative Agent and each Swiss/Multicurrency the Revolving Credit LenderLenders and/or the Alternative Currency Lenders, as applicable; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Multicurrency Administrative Agent and the each applicable L/C Issuer.
(iib) Any such request shall be made to the Multicurrency Administrative Agent not later than 11:00 a.m. (New York City time)a.m., twenty 10 Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Multicurrency Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Multicurrency Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Multicurrency Administrative Agent shall promptly notify the each applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or applicable L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Multicurrency Administrative Agent, not later than 11:00 a.m. (New York City time)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.
(iiic) Any failure by a Revolving Lender or a 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 or such L/C Issuer, as the case may be, to permit Eurocurrency Rate Loans to be made by such Revolving Lender or Letters of Credit to be issued in such requested currency. If the Multicurrency Administrative Agent and all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans in such [Published CUSIP Number: ___] requested currency, the Multicurrency Administrative Agent shall so notify the Parent Borrower Company and such currency shall thereupon be deemed for all purposes to be a Foreign Currency hereunder for purposes of any borrowings Revolving Borrowings of Swiss/Multicurrency Revolving Credit Eurocurrency Rate Loans; and if the Multicurrency Administrative Agent and the each applicable L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Multicurrency Administrative Agent shall so notify the Parent Borrower Company and such currency shall thereupon be deemed for all purposes to be a Foreign Syndicated Currency hereunder for purposes of any Letter of Credit issuances. If the Multicurrency Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.09(c)1.06 from all Revolving Lenders or an L/C Issuer, as applicable, the Multicurrency Administrative Agent shall promptly so notify the Parent BorrowerCompany. If one or more (but not all) Revolving Lenders consent to any request for an additional currency under this Section 1.06, then the Company shall have the right to request that such additional currency be deemed an Alternative Currency by providing written notice to the Multicurrency Administrative Agent (a "Request for a New Alternative Currency Facility"), which notice shall be delivered by the Multicurrency Administrative Agent to the Revolving Lenders that had consented to the original request for an additional currency.
(d) In the event that sufficient Revolving Lenders consent to provide Alternative Currency Commitments in response to a Request for a New Alternative Currency Facility, upon execution of the applicable Alternative Currency Addendum and the other documents, instruments and agreements required pursuant to this Agreement and such Alternative Currency Addendum, the Alternative Currency Facility shall be established. Unless a Lender is providing an Alternative Currency Commitment with respect to any Alternative Currency Facility, consent of such Lender, all of the Lenders or the Required Lenders shall not be required to establish an Alternative Currency Facility. Upon the establishment of any Alternative Currency Facility under this Section 1.06(d), the relevant Borrower may, at its option and upon ten (10) Business Days prior written notice to the Multicurrency Administrative Agent, activate the Alternative Currency Commitments established under such Alternative Currency Facility, which notice shall specify the Alternative Currency Commitment which is being activated, the amount of such activation stated in U.S. Dollars and the requested date of activation. Such activation notice may be provided to the Multicurrency Administrative Agent at the time of the Request for a New Alternative Currency Facility in the event the Borrower desires to activate the Alternative Currency Commitment immediately upon establishment of the Alternative Currency Facility in which case no waiting period shall be operative. Upon activation of such Alternative Currency Commitment of any Alternative Currency Lender, (i) Alternative Currency Loans may be made under such Alternative Currency Facility, (ii) the amount of such Alternative Currency Lender's Revolving Commitment shall be immediately reduced by the amount of such Revolving Lender's new Alternative Currency Commitment, (iii) the Revolving Facility shall be immediately reduced by the aggregate amount of such Alternative Currency Commitments, (iv) If the Applicable Revolving Credit Percentage of each Revolving Lender shall be recalculated by the Multicurrency Administrative Agent taking into effect the reduced Revolving Commitment of such Alternative Currency Lender, (v) the Revolving Lenders and the applicable Borrowers shall promptly make such payments to each other as the [Published CUSIP Number: ___] Multicurrency Administrative Agent may direct to give effect to the adjusted Applicable Revolving Credit Percentages of the Revolving Lenders agree with respect to make a Eurocurrency Rate Loan the outstanding Revolving Loans at the time of such adjustments and (vi) the Borrowers shall compensate each Revolving Lender for any loss, cost or an L/C Issuer agrees expense incurred by such Revolving Lender in connection with the foregoing adjustment to issue a Letter its Applicable Revolving Credit Percentage and corresponding payments in accordance with the terms of Credit in a Foreign Section 3.05. After activation of any Alternative Currency other than Euros, Swiss Francs or YenCommitment, the Foreign Borrower may from time to time thereafter deactivate such Alternative Currency Commitment upon ten (10) Business Days prior written notice to the Multicurrency Administrative Agent, specifying the Alternative Currency Commitment which is being deactivated, the amount of the Alternative Currency Commitment being deactivated stated in U.S. Dollars and the requested date of such deactivation. Upon deactivation of such Alternative Currency Commitment of any Alternative Currency Lender, (A) the amount of such Alternative Currency Lender's Revolving Commitment shall be immediately increased by the amount of such Lenders Alternative Currency Commitment deactivated, (B) the Revolving Commitments shall be immediately increased by the aggregate amount of such Alternative Currency Commitments deactivated, (C) the Applicable Revolving Credit Percentage of each Lender shall be recalculated by the Multicurrency Administrative Agent taking into effect the increased Revolving Commitments, (D) the Revolving Lenders and the Parent Borrower applicable Borrowers shall promptly make such payments to each other as the Multicurrency Administrative Agent may amend this Agreement direct to make any technical, administrative or operational changes (including changes give effect to the definition adjusted Applicable Revolving Credit Percentages of “Eurocurrency Rate”the Revolving Lenders with respect to the outstanding Revolving Loans at the time of such adjustments and (E) the Borrowers shall compensate each Revolving Lender for any loss, cost or expense incurred by such Revolving Lender in connection with the definition foregoing adjustment to its Applicable Revolving Credit Percentage and corresponding payments in accordance with the terms of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Section 3.05. The Multicurrency Administrative Agent shall, upon any activation or deactivation under this Section 1.06(d), distribute a revised Schedule 2.01 to all of the Lenders which shall indicate each Lender's Revolving Commitment and, if any, Alternative Currency Commitments, together with such Lender's Applicable Percentage of the Aggregate Commitments and the Parent Borrower agree Revolving Commitments, which new Schedule 2.01 shall automatically supersede any prior Schedule 2.01. Alternative Currency Commitments may be appropriate reactivated and deactivated from time to reflect such Loans or Letters of Credit being denominated in such currency under time pursuant to this AgreementSection 1.06(d).
Appears in 1 contract
Samples: Credit Agreement (Invacare Corp)
Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that (i) such requested currency complies with the proviso in the definition of “Foreign Currency” and (ii) such requested currency shall only be treated as a “LIBOR Quoted Currency” to the extent that there is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarspublished LIBOR rate for such currency. 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 Agent and each Swiss/Multicurrency Revolving Credit LenderLender with a Commitment under which such currency is requested to be made available; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. a.m., ten (New York City time), twenty 10) Business Days prior to the date of the desired Extension of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly CHAR1\1753066v5 notify each Swiss/Multicurrency Revolving Credit Appropriate Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Appropriate Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. a.m., five (New York City time), ten 5) 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.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C Issuersuch Issuing Lender, 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 all the Swiss/Multicurrency Revolving Credit Appropriate Lenders consent to making Eurocurrency Rate 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 (i) the Administrative Agent and such Lenders may amend the definition of Eurocurrency Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable Eurocurrency Rate for such currency and (ii) to the extent the definition of Eurocurrency 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 a Foreign Currency hereunder for purposes of any borrowings Extensions of Swiss/Multicurrency Revolving Credit of Eurocurrency Rate Loans; and if . If the Administrative Agent and the L/C Issuer applicable Issuing Lender consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (A) the Administrative Agent and the applicable Issuing Lender may amend the definition of Eurocurrency Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable Eurocurrency Rate for such currency and (B) to the extent the definition of Eurocurrency 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 a Foreign 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 1.09(c)1.9, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or Company. Any specified currency of an L/C Issuer agrees to issue a Existing Letter of Credit that is neither Dollars nor one of the Foreign Currencies specifically listed in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,Foreign Currency” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may shall be appropriate deemed an Agreed Currency with respect to reflect such Loans or Letters Existing Letter of Credit being denominated in such currency under this Agreementonly.
Appears in 1 contract
Samples: Credit Agreement (Blackbaud Inc)
Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; ;” provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. 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 Agent and each Swiss/Multicurrency the Revolving Credit LenderLenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuer.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time)a.m., twenty 20 Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit 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 Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time)a.m., ten 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.
(iiic) Any failure by a Revolving Credit Lender or a 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 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Eurocurrency Rate Loans; and if the 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 a Foreign 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 1.09(c)1.09, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or . Any specified currency of an L/C Issuer agrees to issue a Existing Letter of Credit that is neither Dollars nor one of the Foreign Currencies specifically listed in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,Foreign Currency” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may shall be appropriate deemed a Foreign Currency with respect to reflect such Loans or Letters Existing Letter of Credit being denominated in such currency under this Agreementonly.
Appears in 1 contract
Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and readily convertible into DollarsDollars in the London interbank market. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such Such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and or in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty ten (10) Business Days prior to the date of the desired Advance or the issuance of the applicable Letter of Credit Extension (or such other time or date shorter period as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time), ten five (5) Business Days after receipt of such request (or such other time or date as may be agreed by the Administrative Agent in its sole discretion and notified to the Lenders) 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.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C IssuerIssuing Lender, 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings Advance of Swiss/Multicurrency Revolving Credit Eurocurrency Loans; and if the Administrative Agent and the L/C Issuer applicable Issuing Lender 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 a Foreign Currency hereunder for purposes of any Letter of Credit issuancesissuances by such Xxxxxxx Xxxxxx. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.09(c)1.05, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Samples: Credit Agreement (Salesforce, Inc.)
Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and available, freely transferable and convertible into Dollars. In Dollars in the case of any such request with respect international interbank market available to the making of Eurocurrency Rate LoansLenders or the Issuing Lenders, as applicable, in such market and as to which a Dollar Equivalent may be readily calculated. Such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders, in their reasonable discretion; and or in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender, in their reasonable discretion.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty ten (10) Business Days prior to the date of the desired Advance or the issuance of the applicable Letter of Credit Extension (or such other time or date shorter period as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Revolving Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Revolving Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time), ten five (5) Business Days after receipt of such request (or such other time or date as may be agreed by the Administrative Agent in its sole discretion and notified to the Lenders) whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C IssuerIssuing Lender, as the case may be, to permit Eurocurrency Rate Revolving Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Revolving 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 (i) the Administrative Agent and such Lenders may amend applicable interest rate definitions and other provisions in this Agreement to the extent necessary to reflect and provide for the applicable rate for such currency and any applicable adjustment for such rate and (ii) to the extent such applicable definitions and provisions have been amended to reflect and provide for the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be a Foreign Currency hereunder for purposes of any borrowings Advances of Swiss/Multicurrency Revolving Credit Loans; and if . If the Administrative Agent and the L/C Issuer applicable Issuing Lender consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (i) the Administrative Agent and such Issuing Lender may amend applicable interest rate definitions and other provisions in this Agreement to the extent necessary to reflect and provide for the applicable rate for such currency and any applicable adjustment for such rate and (ii) to the extent such applicable definitions and provisions have been amended to reflect and provide for the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be a Foreign Currency hereunder hereunder, for purposes of any Letter of Credit issuancesissuances by such Issuing Lender. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.09(c)1.05, the Administrative Agent shall promptly so notify the Parent BorrowerCompany.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Samples: Credit Agreement (Salesforce, Inc.)
Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition definitions of “Foreign Currency” and “Additional L/C Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarscurrency. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such Such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and or in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty ten (10) Business Days prior to the date of the desired AdvanceBorrowing or the issuance of the applicable Letter of Credit Extension (or such other time or date shorter period as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time), ten five (5) Business Days after receipt of such request (or such other time or date as may be agreed by the Administrative Agent in its sole discretion and notified to the Lenders) 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.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C IssuerIssuing Lender, 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings AdvanceBorrowing of Swiss/Multicurrency Revolving Credit Loans; and if the Administrative Agent and the L/C Issuer applicable Issuing Lender 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 a Foreign Currency (if also approved for purposes of any AdvanceBorrowing of Loans or if approved by all Issuing Lenders) or Additional L/C Currency (if not so approved), as applicable, hereunder for purposes of any Letter of Credit issuancesissuances by such Issuing Lender. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.09(c)1.05, the Administrative Agent shall promptly so notify the Parent Borrower.
(ivd) If the applicable Lenders agree such requested currency is deemed to make be a Eurocurrency Rate Loan Foreign Currency or an Additional L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or YenCurrency, the Administrative Agent may (with the consent of the Borrower and the Parent Borrower may no other Person) amend this Agreement and any other Loan Document to make any technical, administrative or operational changes (including include the interest rate applicable to such currency and to apply conforming changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing relevant definitions and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Samples: Amendment No. 4 (RXO, Inc.)
Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans Advances be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate LoansAdvances, such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderall applicable Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C IssuerIssuing Bank.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty 10 Business Days prior to the date of the desired Credit Extension Borrowing (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate LoansAdvances, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Bank thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate LoansAdvances) or L/C Issuer the 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. (New York City time)a.m., ten five Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans Advances or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iiic) Any failure by a Lender or a L/C Issuerthe 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 Lender or L/C Issuerthe Issuing Bank, as the case may be, to permit Eurocurrency Rate Loans Advances to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans Advances 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 a Foreign Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit LoansEurocurrency Rate Advances; and if the Administrative Agent and the L/C Issuer Issuing Bank 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 a Foreign 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 1.09(c)1.06, the Administrative Agent shall promptly so notify the Parent BorrowerCompany.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
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Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans Advances be made and/or Letters of Credit be issued under the Multicurrency Revolving Credit Facility, the Transpacific Revolving Credit Facility or a new Incremental Term Facility in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate LoansAdvances, such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderall Lenders under the applicable Facility; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuereach applicable Issuing Bank.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty 10 Business Days prior to the date of the desired Credit Extension Borrowing (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the each applicable L/C IssuerIssuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate LoansAdvances, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender under the applicable Facility thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the each applicable L/C Issuer Issuing Bank thereof. Each Swiss/Multicurrency Revolving Credit Lender under the applicable Facility (in the case of any such request pertaining to Eurocurrency Rate LoansAdvances) or L/C Issuer each 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. (New York City time)a.m., ten five Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans Advances or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iiic) Any failure by a Lender under the applicable Facility or a L/C Issuerthe applicable 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 Lender or L/C IssuerIssuing Bank, as the case may be, to permit Eurocurrency Rate Loans Advances to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Swiss/Multicurrency Revolving Credit Lenders under the applicable Facility consent to making Eurocurrency Rate Loans 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 Company and (i) the Agent and such Lenders may amend the definition of “Alternative Currency Daily Rate” (and any component or related definitions thereof) or “Term AMERICAS/2024254939.6 63 Sealed Air – 4th A&R Syndicated Facility Agt Rate” (and any component or related definitions thereof), in each case 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” (and any component or related definitions thereof) or “Term Rate” (and any component or related definitions thereof), as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be a Foreign an Alternative Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Loans; Alternative Currency Daily Rate Advances and if Term Rate Advances. If the Administrative Agent and the L/C Issuer each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (iii) the Agent and the Issuing Bank may amend the definition of Alternative Currency Daily Rate or Term Rate, as applicable, to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate and (iv) to the extent the definition of Alternative Currency Daily Rate or 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 a Foreign Currency hereunder an Alternative 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 1.09(c)1.13, the Administrative Agent shall promptly so notify the Parent BorrowerCompany.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
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Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; ;” provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and readily convertible into DollarsDollars in the London interbank market. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such Such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable L/C Issuer.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty fifteen (15) Business Days prior to the date of the desired Advance or L/C Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or the applicable 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. (New York City time), ten five (5) 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.
(iiic) Any failure by a Lender or a 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 Lender or 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings Advance of Swiss/Multicurrency Revolving Credit Eurocurrency Loans; and if the Administrative Agent and the L/C Issuer Issuers consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent applicable Borrower and such currency shall thereupon be deemed for all purposes to be a Foreign 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 1.09(c)1.05, the Administrative Agent shall promptly so notify the Parent applicable Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Additional Foreign Currencies. CHAR1\1858015v1CHAR1\1858015v2
(ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that (i) such requested currency complies with the proviso in the definition of “Foreign Currency” and (ii) such requested currency shall only be treated as a “LIBOR Quoted Currency” to the extent that there is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollarspublished LIBOR rate for such currency. 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 Agent and each Swiss/Multicurrency Revolving Credit LenderLender with a Commitment under which such currency is requested to be made available; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Lender.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. a.m., ten (New York City time), twenty 10) Business Days prior to the date of the desired Extension of Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Lender, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Appropriate Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Lender thereof. Each Swiss/Multicurrency Revolving Credit Appropriate Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer the applicable Issuing Lender (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. a.m., five (New York City time), ten 5) 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.
(iiic) Any failure by a Lender or a L/C Issueran Issuing Lender, 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 L/C Issuersuch Issuing Lender, 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 all the Swiss/Multicurrency Revolving Credit Appropriate Lenders consent to making Eurocurrency Rate 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 (i) the Administrative Agent and such Lenders may amend the definition of Eurocurrency Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable Eurocurrency Rate for such currency and (ii) to the extent the definition of Eurocurrency 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 a Foreign Currency hereunder for purposes of any borrowings Extensions of Swiss/Multicurrency Revolving Credit of Eurocurrency Rate Loans; and if . If the Administrative Agent and the L/C Issuer applicable Issuing Lender consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (A) the Administrative Agent and the applicable Issuing Lender may amend the definition of Eurocurrency Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable Eurocurrency Rate for such currency and (B) to the extent the definition of Eurocurrency 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 a Foreign 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 1.09(c)1.9, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or Company. Any specified currency of an L/C Issuer agrees to issue a Existing Letter of Credit that is neither Dollars nor one of the Foreign Currencies specifically listed in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the CHAR1\1858015v1CHAR1\1858015v2 definition of “Eurocurrency Rate”, the definition of “Business Day,Foreign Currency” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may shall be appropriate deemed an Agreed Currency with respect to reflect such Loans or Letters Existing Letter of Credit being denominated in such currency under this Agreementonly.
Appears in 1 contract
Samples: Credit Agreement (Blackbaud Inc)
Additional Foreign Currencies. (ia) The Parent Borrower or any Designated Borrower may from time to time in accordance with Article II request that Swiss/Multicurrency Eurocurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency currencies other than those specifically listed in the definition of “Foreign Currency”; provided that that, such requested currency is a lawful currency (other than Dollars, Pounds Sterling and Euros) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate Revolving Loans, such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C IssuerLenders.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City am London time), twenty 20 Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, ) and the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or 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. (New York City am London time), ten 10 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of such Eurocurrency Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iiic) Any failure by a Lender or a 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 Lender or 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower or the relevant Designated Borrower and such currency shall thereupon be deemed for all purposes to be a Foreign Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Eurocurrency Loans; and if the 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 a Foreign 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 1.09(c)2.21, the Administrative Agent shall promptly so notify the Parent Borrower or the relevant Designated Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Samples: Revolving Credit Facility (MF Global Holdings Ltd.)
Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “"Foreign Currency”; ;" provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. 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 Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuer.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time)a.m., twenty 20 Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit 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 Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New York City time)a.m., ten 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.
(iiic) Any failure by a Lender or a 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 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Eurocurrency Rate Loans; and if the 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 a Foreign 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 1.09(c)1.09, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans Advances be made and/or Letters of Credit be issued under the Multicurrency Revolving Credit Facility, the Transpacific Revolving Credit Facility or a new Incremental Term Facility in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate LoansAdvances, such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderall Lenders under the applicable Facility; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuereach applicable Issuing Bank.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty 10 Business Days prior to the date of the desired Credit Extension Borrowing (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the each applicable L/C IssuerIssuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate LoansAdvances, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender under the applicable Facility thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the each applicable L/C Issuer Issuing Bank thereof. Each Swiss/Multicurrency Revolving Credit Lender under the applicable Facility (in the case of any such request pertaining to Eurocurrency Rate LoansAdvances) or L/C Issuer each 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. (New York City time)a.m., ten five Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans Advances or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iiic) Any failure by a Lender under the applicable Facility or a L/C Issuerthe applicable 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 Lender or L/C IssuerIssuing Bank, as the case may be, to permit Eurocurrency Rate Loans Advances to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Swiss/Multicurrency Revolving Credit Lenders under the applicable Facility consent to making Eurocurrency Rate Loans 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 Company and (i) the Agent and such Lenders may amend the definition of “Alternative Currency Daily Rate” (and any component or related definitions thereof) or “Term Rate” (and any component or related definitions thereof), in each case 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” (and any component or related definitions thereof) or “Term Rate” (and any component or related definitions thereof), as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be a Foreign an Alternative Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Loans; Alternative Currency Daily Rate Advances and if Xxxx Xxxx Advances. If the Administrative Agent and the L/C Issuer each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (iii) the Agent and the Issuing Bank may amend the definition of Alternative Currency Daily Rate or Term Rate, as applicable, to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate and (iv) to the extent the definition of Alternative Currency Daily Rate or 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 a Foreign Currency hereunder an Alternative 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 1.09(c)1.13, the Administrative Agent shall promptly so notify the Parent BorrowerCompany.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
Appears in 1 contract
Additional Foreign Currencies. (ia) The Parent Borrower Company may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans Advances be made and/or Letters of Credit be issued under the Multicurrency Revolving Credit Facility, the Transpacific Revolving Credit Facility or a new Incremental Term Facility in a currency other than those specifically listed in the definition of “Foreign Currency”; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate LoansAdvances, such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lenderall Lenders under the applicable Facility; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuereach applicable Issuing Bank.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time), twenty 10 Business Days prior to the date of the desired Credit Extension Borrowing (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the each applicable L/C IssuerIssuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate LoansAdvances, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender under the applicable Facility thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the each applicable L/C Issuer Issuing Bank thereof. Each Swiss/Multicurrency Revolving Credit Lender under the applicable Facility (in the case of any such request pertaining to Eurocurrency Rate LoansAdvances) or L/C Issuer each 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. (New York City time)a.m., ten five Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans Advances or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iiic) Any failure by a Lender under the applicable Facility or a L/C Issuerthe applicable 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 Lender or L/C IssuerIssuing Bank, as the case may be, to permit Eurocurrency Rate Loans Advances to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Swiss/Multicurrency Revolving Credit Lenders under the applicable Facility consent to making Eurocurrency Rate Loans 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 Company and (i) the Agent and such Lenders may amend the definition of “Alternative Currency Daily Rate” (and any component or related definitions thereof) or “Term Rate” (and any component or related definitions thereof), in each case 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” (and any component or related definitions thereof) or “Term Rate” (and any component or related definitions thereof), as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be a Foreign an Alternative Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Loans; Alternative Currency Daily Rate Advances and if Term Rate Advances. If the Administrative Agent and the L/C Issuer each applicable Issuing Bank consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Parent Borrower Company and (iii) the Agent and the Issuing Bank may amend the definition of Alternative Currency Daily Rate or Term Rate, as applicable, to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate and (iv) to the extent the definition of Alternative Currency Daily Rate or 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 a Foreign Currency hereunder an Alternative 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 1.09(c)1.13, the Administrative Agent shall promptly so notify the Parent BorrowerCompany.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
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Additional Foreign Currencies. (ia) The Parent Borrower or any Designated Subsidiary Borrower may from time to time in accordance with Article II request that Swiss/Multicurrency Eurocurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency currencies other than those specifically listed in the definition of “Foreign Currency”; provided that that, such requested currency is a lawful currency (other than Dollars, Pounds Sterling and Euros) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate Revolving Loans, such request shall be subject to the approval of the Administrative Agent and each Swiss/Multicurrency Revolving Credit Lender; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C IssuerLenders.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City am London time), twenty 20 Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, ) and the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or 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. (New York City am London time), ten 10 Business Days after receipt of such request whether it consents, in its sole discretion, to the making of such Eurocurrency Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency.
(iiic) Any failure by a Lender or a 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 Lender or 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Parent Borrower or the relevant Designated Subsidiary Borrower and such currency shall thereupon be deemed for all purposes to be a Foreign Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Eurocurrency Loans; and if the 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 a Foreign 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 1.09(c)2.21, the Administrative Agent shall promptly so notify the Parent Borrower or the relevant Designated Subsidiary Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
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Additional Foreign Currencies. (ia) The Parent Borrower may from time to time request that Swiss/Multicurrency Revolving Credit Loans that are Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Foreign CurrencyCurrencies”; provided that such requested currency is a lawful currency (other than U.S. Dollars) that is readily available and freely transferable and convertible into U.S. Dollars. 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 Agent and each Swiss/Multicurrency Revolving Credit Lenderthe Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuerapplicable Issuing Bank.
(iib) Any such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time)2:00 p.m. Local Time, twenty 20 Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C IssuerIssuing Bank, in its or their sole discretion). In the case of any such request pertaining to Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Swiss/Multicurrency Revolving Credit Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable L/C Issuer Issuing Bank thereof. Each Swiss/Multicurrency Revolving Credit Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or L/C Issuer 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. (New York City time)Local Time, ten 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.
(iiic) Any failure by a Lender or a L/C Issueran 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 Lender or L/C IssuerIssuing 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 all the Swiss/Multicurrency Revolving Credit Lenders consent to making Eurocurrency Rate Loans 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 a Foreign Currency hereunder for purposes of any borrowings Borrowings of Swiss/Multicurrency Revolving Credit Eurocurrency Rate Loans; and if the Administrative Agent and the L/C Issuer 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 such currency shall thereupon be deemed for all purposes to be a Foreign 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 1.09(c)1.09, the Administrative Agent shall promptly so notify the Parent Borrower.
(iv) If the applicable Lenders agree to make a Eurocurrency Rate Loan or an L/C Issuer agrees to issue a Letter of Credit in a Foreign Currency other than Euros, Swiss Francs or Yen, the Administrative Agent and the Parent Borrower may amend this Agreement to make any technical, administrative or operational changes (including changes to the definition of “Eurocurrency Rate”, the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent and the Parent Borrower agree may be appropriate to reflect such Loans or Letters of Credit being denominated in such currency under this Agreement.
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