Alternative Currency Commitment Sample Clauses
An Alternative Currency Commitment clause defines the terms under which obligations or payments may be made in a currency other than the primary one specified in the agreement. Typically, this clause outlines the conditions for selecting an alternative currency, the method for determining exchange rates, and any limitations or approvals required for such a change. By providing a structured process for using different currencies, the clause helps parties manage currency risk and maintain flexibility in international transactions.
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Alternative Currency Commitment. If at any time (as determined by the Agent under Section 2.05(b)(v)), based upon the Equivalent Dollar Amount of all outstanding Revolving Loans and L/C Obligations, (A) solely because of currency fluctuation, the outstanding principal amount of all Revolving Loans denominated in an Alternative Currency plus the L/C Obligations with respect to all Alternative Currency Letters of Credit exceeds the lesser of (1) one hundred and five percent (105%) of the Revolving Commitment less the sum of all outstanding Revolving Loans denominated in dollars, Competitive Bid Loans, Swingline Loans and L/C Obligations with respect to Letters of Credit denominated in dollars and (2) one hundred and five percent (105%) of the Alternative Currency Commitment or (B) for any other reason, the outstanding principal amount of all Alternative Currency Loans exceeds the lesser of (1) the Revolving Commitment less the sum of all outstanding Revolving Loans denominated in dollars, Competitive Bid Loans, Swingline Loans and L/C Obligations and (2) the Alternative Currency Commitment, then, in each such case, such excess shall (x) with respect to Eurocurrency Loans, be immediately repaid in the currency in which such Revolving Loan or Revolving Loans were initially funded by the Borrower to the Agent for the account of the Lenders and (y) with respect to any Alternative Currency Letters of Credit then outstanding, deposited in cash as collateral into a cash collateral account opened by the Agent for the benefit of the Lenders.
Alternative Currency Commitment. If at any time (as determined by the Administrative Agent under Section 2.5(b)(v)), based upon the Dollar Amount of all outstanding Loans and L/C Obligations, (A) solely because of currency fluctuation, the outstanding principal amount of all Alternative Currency Loans exceeds the lesser of (1) one hundred and five percent (105%) of the Aggregate Commitment less the sum of all outstanding Swingline Loans, Revolving Credit Loans and L/C Obligations and (2) one hundred and five percent (105%) of the Alternative Currency Commitment or (B) for any other reason, the outstanding principal amount of all Alternative Currency Loans exceeds the lesser of (1) the Aggregate Commitment less the sum of all outstanding Swingline Loans, Revolving Credit Loans and L/C Obligations and (2) the Alternative Currency Commitment, then, in each such case, such excess shall be immediately repaid, in the currency in which such Alternative Currency Loan or Alternative Currency Loans were initially funded, by the Borrower to the Administrative Agent for the account of the Alternative Currency Lender.
Alternative Currency Commitment. If at any time (as determined by the Administrative Agent under Section 2.05(b)(iv)), based upon the Equivalent Dollar Amount of all outstanding Revolving Loans, (A) solely because of currency fluctuation, the Administrative Agent notifies the Borrower that the outstanding principal amount of all Revolving Loans denominated in a Permitted Alternative Currency exceeds the lesser of (1) one hundred and five percent (105%) of the aggregate Commitments of all Lenders minus the sum of all outstanding Revolving Loans denominated in Dollars and Competitive Bid Loans and Swingline Loans and (2) one hundred and five percent (105%) of the Alternative Currency Commitment or (B) for any other reason, the outstanding principal amount of all Alternative Currency Loans exceeds the lesser of (1) the aggregate Commitments of all Lenders minus the sum of all outstanding Revolving Loans denominated in Dollars, Competitive Bid Loans and Swingline Loans and (2) the Alternative Currency Commitment, then, in each such case, such excess shall be immediately repaid in the currency in which such Revolving Loan(s) were initially funded by the Borrower to the Administrative Agent for the account of the Lenders.
Alternative Currency Commitment. If at any time (as determined by the Administrative Agent under Section 2.6(b)(v)), based upon the Dollar Amount of all outstanding Revolving Credit Loans, Swingline Loans, L/C Obligations and Canadian Outstandings, and for any reason, the outstanding principal amount of all Canadian Outstandings exceeds the lesser of (A) the Revolving Credit Commitment less the sum of all outstanding Revolving Credit Loans, Swingline Loans and L/C Obligations and (B) the Alternative Currency Commitment, then, in each such case, such excess shall be immediately repaid, in the Alternative Currency in which such Alternative Currency Loan or Alternative Currency Loans were initially funded, by the Borrowers to the Administrative Agent for the account of the Lenders.
Alternative Currency Commitment. If at any time (as determined by the Administrative Agent under Section 2.5(b)(vi)), based upon the Dollar Amount of all outstanding Loans and L/C Obligations, (A) solely because of currency fluctuation, the outstanding principal amount of all Alternative Currency Loans exceeds the lesser of (1) one hundred and five percent (105%) of the Aggregate Commitment less the sum of all outstanding Revolving Credit Loans denominated in Dollars, Swingline Loans and L/C Obligations and (2) one hundred and five percent (105%) of the Alternative Currency Commitment or (B) for any other reason, the outstanding principal amount of all Alternative Currency Loans exceeds the lesser of (1) the Aggregate Commitment less the sum of all outstanding Revolving Credit Loans denominated in Dollars and L/C Obligations and (2) the Alternative Currency Commitment, then, in each such case, Alternative Currency Loan(s) shall be immediately repaid, in the currency in which such Alternative Currency Loan(s) were initially funded, by the applicable Borrower or Borrowers to the Administrative Agent for the account of the Revolving Credit Lenders, in such amount as is necessary to reduce the outstanding Dollar Amount of Alternative Currency Loans to an amount equal to the lesser of (1) the Aggregate Commitment less the sum of all outstanding Revolving Credit Loans denominated in Dollars and L/C Obligations and (2) the Alternative Currency Commitment. Such payments will be applied to such Alternative Currency Loans as directed by the Borrower.
Alternative Currency Commitment. If at any time (as determined by the Administrative Agent under Section 2.5(b)(v)), based upon the Dollar Amount of all outstanding Loans and L/C Obligations, (A) solely because of currency fluctuation, the outstanding principal amount of all Alternative Currency Loans exceeds one hundred five percent (105%) of the Alternative Currency Commitment or (B) for any other reason, the outstanding principal amount of all Alternative Currency Loans exceeds the Alternative Currency Commitment, then, in each such case, such excess shall be immediately repaid, in the Alternative Currency, by the UK Borrower to the Administrative Agent for the account of the Alternative Currency Lender.
Alternative Currency Commitment. If at any time (as determined by the Administrative Agent under Section 2.5(b)(v)), based upon the Dollar Amount of all outstanding Loans and L/C Obligations, (A) solely because of currency fluctuation, the outstanding principal amount of all Alternative Currency Loans exceeds the lesser of (1) one hundred and five percent (105%) of the amount equal to (x) the lesser of (I) the Aggregate Commitment and (II) the Borrowing Base less (y) the sum of all outstanding Swingline Loans, Revolving Credit Loans and L/C Obligations and (2) one hundred and five percent (105%) of the Alternative Currency Commitment or (B) for any other reason, the outstanding principal amount of all Alternative Currency Loans exceeds the lesser of (1) the amount equal to (x) the lesser of (I) the Aggregate Commitment and (II) the Borrowing Base less (y) the sum of all outstanding Swingline Loans, Revolving Credit Loans and L/C Obligations and (2) the Alternative Currency Commitment, then, in each such case, such excess shall be immediately repaid, in the currency in which such Alternative Currency Loan or Alternative Currency Loans were initially funded, by the Borrower to the Administrative Agent for the account of the Alternative Currency Lender.