Amount of Optional Currencies. If an Advance is to be made in an Optional Currency, the amount of the Advance will be determined by converting into that Optional Currency, the Original Euro Amount of that Advance on the basis of the Agent’s Spot Rate of Exchange on the day which is three Business Days prior to the proposed Drawdown Date.
Amount of Optional Currencies. Payments.............................................................44 13. Taxes................................................................
Amount of Optional Currencies. If a Loan is to be drawn down in an Optional Currency, the Original Sterling Amount of each Bank’s participation in that Loan will be determined by converting into Sterling the Bank’s participation in that Loan on the basis of the applicable Agent’s Spot Rate of Exchange 3 Business Days before its Drawdown Date. The Agent shall notify each Bank and each Borrower of the Original Sterling Amount of each Loan denominated in an Optional Currency and the applicable Agent’s Spot Rate of Exchange promptly after they are ascertained.
Amount of Optional Currencies. 11.1 Drawdowns If a Loan is to be drawn down in an Optional Currency, the amount of each Bank's participation in Loan will be determined by converting into that Optional Currency the Bank's participation in the Original Dollar Amount of that Loan on the basis of the Agent's Spot Rate of Exchange three Business Days before its Drawdown Date.
Amount of Optional Currencies. (a) If a Loan is to be drawn down in an Optional Currency, the amount of each Bank's participation in that Loan will be determined by converting into that Optional Currency that Bank's participation in the Original Dollar Amount of that Loan on the basis of the Facility Agent's Spot Rate of Exchange two Business Days or, in the case of a Loan denominated in an Optional Currency, three Business Days before its Drawdown Date.
(b) The Facility Agent shall notify the Banks and the Obligors' Agent of Optional Currency amounts (and the applicable Facility Agent's Spot Rate of Exchange) promptly after they are ascertained.
Amount of Optional Currencies. (i) Drawdowns If an Advance is to be drawn down in an Optional Currency, the amount of each Lender's participation is that Advance will be determined by converting into that Optional Currency the Lender's participation in the Original Dollar Amount of that Advance on the basis of the Agent's Spot Rate of Exchange two Business Days before its date of borrowing.
Amount of Optional Currencies. 2.8.1 In this clause 2.8, the "Issuing Bank's spot rate of exchange" means the Issuing Bank's rate of exchange for the purchase in the London Foreign Exchange Market of the appropriate amount of the relevant Optional Currency with Dollars at or about 11.00 a.m. on, as the case may be, each Issue Date on which an Optional Currency L/C is to be issued or on which a previously issued Optional Currency L/C remains outstanding, the Settlement Date of an Optional Currency L/C and each Reset Date or on any other date when compliance with clause 8.2.1 is tested by the Agent, as relevant (each an "L/C Valuation Date").
2.8.2 On each L/C Valuation Date the Agent shall determine:
(a) in the case of an Issue Date, the Outstanding Amount of each Optional Currency L/C then outstanding or to be issued on that L/C Valuation Date;
(b) in the case of a Settlement Date, the Outstanding Amount of each relevant Optional Currency L/C; and
(c) in the case of a Reset Date or any other date when compliance with clause 8.2.1 is tested by the Agent, the Outstanding Amount of each Optional Currency L/C then outstanding, by converting the amount of such L/C in the Optional Currency into Dollars on the basis of the Issuing Bank's spot rate of exchange.
2.8.3 The Issuing Bank shall promptly notify the Agent and the Agent shall notify the Banks and the Borrower of the Issuing Bank's spot rate of exchange (as to which the Issuing Bank's determination shall, in the absence of manifest error, be conclusive on the Borrower and the other Creditors) and of the Outstanding Amounts hereunder as soon as they are ascertained.
Amount of Optional Currencies. 2.21.1 In this clause 2.21, the “Bank’s spot rate of exchange” means the Bank’s rate of exchange for the purchase in the London Foreign Exchange Market of the appropriate amount of the relevant Optional Currency with Dollars at or about 11.00 a.m. on, as the case may be, each Issue Date on which an Optional Currency L/C is to be issued or on which a previously issued Optional Currency L/C remains outstanding, the Settlement Date of an Optional Currency L/C and each Reset Date or on any other date when compliance with clause 8.2.1 or clause 8.2.7 is tested by the Bank, as relevant (each an “L/C Valuation Date”).
Amount of Optional Currencies. 2.8.1 In this clause 2.8, the "Issuing Bank's spot rate of exchange" means the Issuing Bank's rate of exchange for the purchase in the London Foreign Exchange Market of the appropriate amount of the relevant Optional Currency with Dollars at or about 11.00 a.m. on, as the case may be, each Issue Date on which an Optional Currency UC is to be issued or on which a previously issued Optional Currency L/C remains outstanding, the Settlement Date of an Optional Currency L/C and each Reset Date or on any other date when compliance with clause 8.2.1 is tested by the Agent, as relevant (each an "L/C Valuation Date").
2.8.2 On each UC Valuation Date the Agent shall determine:
(a) in the case of an Issue Date, the Outstanding Amount of each Optional Currency L/C then outstanding or to be issued on that L/C Valuation Date;
(b) in the case of a Settlement Date, the Outstanding Amount of each relevant Optional Currency L/C; and
(c) in the case of a Reset Date or any other date when compliance with clause 8.2.1 is tested by the Agent, the Outstanding Amount of each Optional Currency L/C then outstanding, by converting the amount of such L/C in the Optional Currency into Dollars on the basis of the Issuing Bank's spot rate of exchange.
2.8.3 The Issuing Bank shall promptly notify the Agent and the Agent shall notify the Banks and the Borrower of the Issuing Bank's spot rate of exchange (as to which the Issuing Bank's determination shall, in the absence of manifest error, be conclusive on the Borrower and the other Creditors) and of the Outstanding Amounts hereunder as soon as they are ascertained.
Amount of Optional Currencies. 11.1 Drawdowns --------- If a Loan is to be drawn down in an Optional Currency, the amount of each Bank's participation in that Loan will be determined by converting into that Optional Currency the Bank's participation in the Original Dollar Amount of that Loan on the basis of the Agent's Spot Rate of Exchange four Business Days before its Drawdown Date.
11.2 Calculation for each Interest Period ------------------------------------
(a) If a Loan is denominated in an Optional Currency, prior to the end of each of its Interest Periods, there shall be calculated the difference between the amount of such Loan (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of such Loan for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Dollar Amount of such Loan on the basis of the Agent's Spot Rate of Exchange four Business Days before the commencement of that Interest Period.
(b) At the end of the current Interest Period (but subject always to paragraph (c) below):-
(i) if the amount of such Loan for the next Interest Period is less than for the preceding Interest Period, the Borrower shall repay the difference; or
(ii) if the amount of such Loan for the next Interest Period is greater, each Bank shall forthwith make available to the Agent for the Borrower its participation in the difference.
(c) If the Agent's Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against Dollars of less than five per cent. when compared with the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 11 (Amount of Optional Currencies) "Original Exchange Rate" means the Agent's Spot Rate of Exchange used for determining the amount of the Optional Currency for the Interest Period which is the later of the following:-
