Common use of Adjustment for Currency Fluctuations Clause in Contracts

Adjustment for Currency Fluctuations. If the Agent shall notify the Parent in writing not later than 4:00 p.m. (Toronto time) on an Exchange Rate Determination Date that solely by reason of fluctuations in currency valuation, the Accommodations Outstanding under the Credit Facility exceed 103% of the Commitment on the date immediately preceding such Exchange Rate Determination Date (the amount by which such Accommodations Outstanding exceed such Commitment on such date being the “Excess”), the Borrowers shall, within three (3) Business Days thereafter, make a payment by either (x) repaying Floating Rate Advances outstanding under the Credit Facility in an amount equal to the Excess or, (y) if the Borrowers do not have Floating Rate Advances outstanding under the Credit Facility in an amount equal to or greater than the Excess, make a payment by repaying all Floating Rate Advances in amounts less than the Excess (if any) under Credit Facility and by depositing with the Agent an amount equal to the amount by which the Excess exceeds the amount of the Floating Rate Advances under the Credit Facility repaid to be held by the Agent in trust for the applicable Lenders and irrevocably authorizing and directing the Agent to apply such payment to Fixed Rate Advances outstanding under the Credit Facility on the expiry of the Interest Period thereof or as a repayment of any reimbursement obligation in respect of any Drawings outstanding under the Credit Facility on the next applicable maturity date. Any interest on the amount deposited with the Agent shall be held in trust for the Borrowers and shall be paid to the Borrowers on the next Exchange Rate Determination Date.

Adjustment for Currency Fluctuations. If the Agent shall notify the Parent in writing not later than 4:00 p.m. (Toronto time) on an Exchange Rate Determination Date that solely by reason of fluctuations in currency valuation, the Accommodations Outstanding under the Credit Facility exceed 103% of the Commitment on the date immediately preceding such Exchange Rate Determination Date (the amount by which such Accommodations Outstanding exceed such Commitment on such date being the “Excess”), the Borrowers shall, within three (3) Business Days thereafter, make a payment by either (x) repaying Floating Rate Advances outstanding under the Credit Facility in an amount equal to the Excess or, (y) if the Borrowers do not have Floating Rate Advances outstanding under the Credit Facility in an amount equal to or greater than the Excess, make a payment by repaying all Floating Rate Advances in amounts less than the Excess (if any) under the Credit Facility and by depositing with the Agent an amount equal to the amount by which the Excess exceeds the amount of the Floating Rate Advances under the Credit Facility repaid to be held by the Agent in trust for the applicable Lenders and irrevocably authorizing and directing the Agent to apply such payment to Fixed Rate Advances outstanding under the Credit Facility on the expiry of the Interest Period thereof or as a repayment of any reimbursement obligation in respect of any Drawings outstanding under the Credit Facility on the next applicable maturity date. Any interest on the amount deposited with the Agent shall be held in trust for the Borrowers and shall be paid to the Borrowers on the next Exchange Rate Determination Date.

Adjustment for Currency Fluctuations. If the Agent shall notify the Parent in writing not later than 4:00 p.m. (Toronto time) on an Exchange Rate Determination Date that solely by reason of fluctuations in currency valuation, the Accommodations Outstanding under the Credit Facility exceed 103% of the Commitment on the date immediately preceding such Exchange Rate Determination Date (the amount by which such Accommodations Outstanding exceed such Commitment on such date being the “Excess”), the Borrowers shall, within three (3) Business Days thereafter, make a payment by either (x) repaying Floating Rate Advances outstanding under the Credit Facility in an amount equal to the Excess or, (y) if the Borrowers do not have Floating Rate Advances outstanding under the Credit Facility in an amount equal to or greater than the Excess, make a payment by repaying all Floating Rate Advances in amounts less than the Excess (if any) under the Credit Facility and by depositing with the Agent an amount equal to the amount by which the Excess exceeds the amount of the Floating Rate Advances under the Credit Facility repaid to be held by the Agent in trust for the applicable Lenders and irrevocably authorizing and directing the Agent to apply such payment to Fixed Rate Advances outstanding under the Credit Facility on the expiry of the Interest Period thereof or as a repayment of any reimbursement obligation in respect of any Drawings outstanding under the Credit Facility on the next applicable maturity dateLenders. Any interest on the amount deposited with the Agent shall be held in trust for the Borrowers and shall be paid to the Borrowers on the next Exchange Rate Determination Date.