Alternative Currency Equivalent Clause Samples
The Alternative Currency Equivalent clause defines how amounts denominated in one currency are converted into another currency for the purposes of the agreement. Typically, this clause specifies the method for determining the exchange rate, such as referencing a particular financial source or using the prevailing market rate on a specific date. For example, if a payment obligation arises in U.S. dollars but must be settled in euros, this clause outlines how the equivalent euro amount is calculated. Its core function is to ensure clarity and consistency in cross-currency transactions, reducing the risk of disputes over currency conversions.
Alternative Currency Equivalent. At any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent or the Fronting Bank, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars.
Alternative Currency Equivalent. At any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent or the Issuing Bank, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars. Alternative Currency Sublimit. An amount equal to $200,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Total Commitments. Applicable Margin. For each period commencing on an Adjustment Date through the date immediately preceding the next Adjustment Date (each a “Rate Adjustment Period”), the Applicable Margin shall be the applicable margin set forth below with respect to the Leverage Ratio, as determined for the four (4) consecutive fiscal quarters then ending of BGI and its Subsidiaries ending on the last day of the fiscal quarter ended immediately prior to the applicable Rate Adjustment Period. I Less than 2.00:1 1.10% 1.1% 0.10% 0.15% II Less than 2.25:1 but greater than or equal to 2.00:1 1.18% 1.18% 0.17% 0.20% III Less than 2.50:1 but greater than or equal to 2.25:1 1.28% 1.28% 0.28% 0.23% IV Less than 2.75:1 but greater than or equal to 2.50:1 1.38% 1.375% 0.38% 0.25% V Less than 3.00:1 but greater than or equal to 2.75:1 1.48% 1.48% 0.48% 0.28% VI Less than 3.25:1 but greater than or equal to 3.00:1 1.58% 1.58% 0.58% 0.30% VII Greater than or equal to 3.25:1 1.70% 1.70% 0.70% 0.30% If the Borrowers fail to deliver any Compliance Certificate pursuant to §8.4(c) hereof, then for the period commencing on the next Adjustment Date to occur subsequent to such failure through the date immediately following the date on which such Compliance Certificate is delivered, the Applicable Margin shall be the highest Applicable Margin set forth above. Notwithstanding the foregoing, the Applicable Margin on the Closing Date shall be at Level II and, thereafter, the Applicable Margin shall be no lower than Level II until the first Adjustment Date to occur following the fiscal quarter ending on or about December 31, 2011.
Alternative Currency Equivalent. At any time, with respect to any amount denominated in Dollars, the amount of any Alternative Currency that could be purchased with such amount of Dollars using the reciprocal of the foreign exchange rate(s) specified in the definition of “Dollar Equivalent”, as determined by the Administrative Agent.
Alternative Currency Equivalent. The amount in Alternative Currency of Dollars at the quoted spot rate at which the Bank's principal office in the United States offers to exchange such Alternative Currency for Dollars at 11:00 a.m (Boston time) two (2) Business Days prior to the date on which such equivalent is determined. AUTHORIZED OFFICER. The president, chief financial officer or senior vice president finance and administration of Sepracor.
Alternative Currency Equivalent. At any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined in good faith by the Agent, the Fronting Bank or the Alternative Currency Swingline Lender, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars. Alternative Currency Swingline Lender. Banc of America Securities Limited and/or Bank of America, N.A., Canada Branch, as the context may require, in its capacity as a swingline lender hereunder, or any Eligible Assignee of Banc of America Securities Limited or Bank of America, N.A., Canada Branch which executes an Assignment and Assumption assuming the obligations of such swingline lender as Alternative Currency Swingline Lender.
Alternative Currency Equivalent. At any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent or the Issuing Bank, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars. Alternative Currency Sublimit. An amount equal to $600,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Total Commitments. Anti-Corruption/Terrorism Laws. Any Laws relating to corruption, including the United States Foreign Corrupt Practices Act of 1977, terrorism, trade sanctions programs and embargoes, import/export licensing, money laundering or bribery, and any regulation, order, or directive promulgated, issued or enforced pursuant to such Laws, all as amended, supplemented or replaced from time to time. Applicable Margin. For each period commencing on an Adjustment Date through the date immediately preceding the next Adjustment Date (each a “Rate Adjustment Period”), the Applicable Margin shall be the applicable margin set forth below with respect to the Leverage Ratio, as determined for the four (4) consecutive fiscal quarters then ending of BGI and its Subsidiaries ending on the last day of the fiscal quarter ended immediately prior to the applicable Rate Adjustment Period. I Less than 2.00:1 1.175% 1.175% 0.175% 0.20% II Less than 2.50:1 but greater than or equal to 2.00:1 1.25% 1.25% 0.25% 0.25% III Less than 3.00:1 but greater than or equal to 2.50:1 1.45% 1.45% 0.45% 0.30% IV Less than 3.50 but greater than or equal to 3.00 1.675% 1.675% 0.675% 0.325% V Greater than or equal to 3.50:1 1.775% 1.775% 0.775% 0.35% If the Borrowers fail to deliver any Compliance Certificate pursuant to §8.4(c) hereof, then for the period commencing on the next Adjustment Date to occur subsequent to such failure through the date immediately following the date on which such Compliance Certificate is delivered, the Applicable Margin shall be the highest Applicable Margin set forth above.
Alternative Currency Equivalent. At any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Agent or the L/C Issuer, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars.