Alternate Currency Sample Clauses

Alternate Currency. If any amounts received or owing hereunder in connection with Alternate Currency Letters of Credit are paid in a currency other than the applicable Alternate Currency (the “Other Currency”), the applicable Issuing Bank may convert (actually or notionally) such Other Currency into the applicable Alternate Currency and such conversion shall be effected at the Exchange Rate for the time being for obtaining such Alternate Currency and the Borrower shall indemnify such Issuing Bank on demand in respect of any resulting loss in respect of such conversion. The Borrower waives any right it may have in any jurisdiction to pay any amount under this Section 3.13 in a currency or currency unit other than that in which it is expressed to be payable.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Alternate Currency. In the event that a Letter of Credit denominated in the Alternate Currency (an "Alternate Currency Letter of Credit") is issued pursuant to this Section 2.06, the following provisions shall apply so long as such Alternate Currency Letter of Credit or any LC Exposure in respect thereof is outstanding:
Sample 1
Alternate Currency. The Borrower has requested, and the New Issuing Lender consents to, the following currencies being designated as Alternate Currencies with respect to Letters of Credit issued by the New Issuing Lender: Australian Dollars, Bahts, Dirhams, Euros, Indian Rupees, Kuwaiti Dinars, New Zealand Dollars, Norwegian Kroners, Reais, Ringgits, Rupiah, Singapore Dollars, Saudi Riyals and, the lawful currency of the Federal Republic of Nigeria, the Nigerian Niara.
Sample 1
Alternate Currency. The specification of payment of Fronted Offshore Currency Loans in the related Alternate Currency at a specific place pursuant to this Agreement is of the essence. Such Alternate Currency shall, subject to this Section 5A, be the currency of account and payment of such Loans owed to the Offshore Currency Fronting Lender under this Agreement and the applicable Offshore Currency Addendum. Notwithstanding anything in this Agreement, the obligation of the Borrower in respect of such Loans shall not be discharged by an amount paid in any other currency or at another place, whether pursuant to a judgment or otherwise, to the extent the amount so paid, on prompt conversion into the applicable Alternate Currency and transfer to such Lender under normal banking procedure, does not yield the amount of such Alternate Currency due under this Agreement or the applicable Offshore Currency Addendum. In the event that any payment, whether pursuant to a judgment or otherwise, upon conversion and transfer, does not result in payment of the amount of such Alternate Currency due under this Agreement or the applicable Offshore Currency Addendum, such Lender shall have an independent cause of action against each of the Borrower for the currency deficit. In the event that any payment, upon conversion and transfer, results in payment in excess of the amount of such Alternate Currency due under this Agreement or the applicable Offshore Currency Addendum, such Lender shall refund such excess to the Borrower.
Sample 1
Alternate Currency. Each Lender at its option may make any LIBOR Rate Advance, Canadian Prime Rate Advance, BA Rate Advance or other Revolving Credit Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions of Sections 4.10 and 4.11 shall apply to such Affiliate to the same extent as to such Lender); provided, that (i) any exercise of such option shall not affect the obligation of the Borrowers to repay such Loan in accordance with the terms of this Agreement and (ii) such LIBOR Rate Advance, Canadian Prime Rate Advance, BA Rate Advance or other Revolving Credit Loan (as applicable) shall be deemed to have been made and held by such Lender, and the obligation of the Borrower to repay such LIBOR Rate Advance, Canadian Prime Rate Advance, BA Rate Advance or other Revolving Credit Loan shall nevertheless be to such Lender, in each case, for the account of such domestic or foreign branch or Affiliate of such Lender.
Sample 1
Alternate Currency. Each Lender at its option may make any LIBOR Rate Advance, Canadian Prime Rate Advance, BA Rate Advance, Daily Simple RFR Advance, EURIBOR Advance or other Revolving Credit Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions of Sections 4.10 and 4.11 shall apply to such Affiliate to the same extent as to such Lender); provided, that (i) any exercise of such option shall not affect the obligation of the Borrowers to repay such Loan in accordance with the terms of this Agreement and (ii) such LIBOR Rate Advance, Canadian Prime Rate Advance, BA Rate Advance, Daily Simple RFR Advance, EURIBOR Advance or other Revolving Credit Loan (as applicable) shall be deemed to have been made and held by such Lender, and the obligation of the Borrower to repay such LIBOR Rate Advance, Canadian Prime Rate Advance, BA Rate Advance, Daily Simple RFR Advance, EURIBOR Advance or other Revolving Credit Loan shall nevertheless be to such Lender, in each case, for the account of such domestic or foreign branch or Affiliate of such Lender.
Sample 1

Related to Alternate Currency

  • Alternative Currency In the case of a Credit Extension to be denominated in an Alternative Currency, such currency remains an Eligible Currency.

  • Alternative Currencies In the case of a Credit Extension to be denominated in an Alternative Currency, there shall not have occurred any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which in the reasonable opinion of the Administrative Agent, the Required Revolving Credit Lenders (in the case of any Loans to be denominated in an Alternative Currency) or the L/C Issuer (in the case of any Letter of Credit to be denominated in an Alternative Currency) would make it impracticable for such Credit Extension to be denominated in the relevant Alternative Currency.

  • Canadian Dollars All references herein to dollar amounts are to lawful money of Canada.

  • Additional Alternative Currencies (a) The Borrower may from time to time request that Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternative 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 the 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.

  • Optional Currencies 25 8. Repayment....................................................... 29 9.

  • Dollar Equivalents The Administrative Agent shall determine the Dollar Equivalent of any amount as required hereby, and a determination thereof by the Administrative Agent shall be conclusive absent manifest error. The Administrative Agent may, but shall not be obligated to, rely on any determination made by any Loan Party in any document delivered to the Administrative Agent. The Administrative Agent may determine or redetermine the Dollar Equivalent of any amount on any date either in its own discretion or upon the request of any Lender or Issuer.

  • Interest on Revolving Credit Loans Except as otherwise provided in Section 5.11,

  • Foreign Currency The term “

  • Procedure for Advances of Revolving Credit Loans and Swingline Loans Section 2.4 Repayment and Prepayment of Revolving Credit and Swingline Loans

  • Dollar, Dollars, U.S Dollars and the symbol $ shall mean lawful money of the United States of America. Dollar Equivalent shall mean, with respect to any amount of any currency, the Equivalent Amount of such currency expressed in Dollars.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!