Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-current Interest Period. (b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro. (c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 8 contracts
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Change of Currency. (a) Each obligation of the Borrowers Borrower under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers Borrower shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 8 contracts
Samples: Credit Agreement (Salesforce, Inc.), Credit Agreement (SALESFORCE.COM, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Global Administrative Agent (in consultation with any other relevant Agent and, to the extent a Default does not exist, Prologis) may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Global Administrative Agent (in consultation with any other relevant Agent and, to the extent a Default does not exist, Prologis) may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the such change in currency.
Appears in 5 contracts
Samples: Global Senior Credit Agreement (Prologis, L.P.), Global Senior Credit Agreement (Prologis, L.P.), Global Senior Credit Agreement (Prologis, L.P.)
Change of Currency. (a) A. Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-then current Interest Period.
(b) B. Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify in a written notice to Company to be reasonably necessary appropriate to reflect the adoption of the Euro (or departure from usage thereof) by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) . Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify in a written notice to Company to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency, such changes to put the Lenders and Borrower in the same position, as close as possible, that they would have been in had no such change in currency or market conventions or practices occurred.
Appears in 5 contracts
Samples: Credit Agreement (Ferroglobe PLC), Loan Agreement (Hexcel Corp /De/), Credit Agreement (Hexcel Corp /De/)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or the currency of such other currencymember state, then the Borrowers Borrower shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 5 contracts
Samples: Credit Agreement (Broadcom Inc.), Credit Agreement (Broadcom Inc.), Credit Agreement (Broadcom Inc.)
Change of Currency. (a) Each obligation of the Borrowers Borrower under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro Euros at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers Borrower shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 4 contracts
Samples: Credit Agreement (GXO Logistics, Inc.), Credit Agreement (GXO Logistics, Inc.), Credit Agreement (GXO Logistics, Inc.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Credit Extension in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCredit Extension, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall shall, upon written notice to the Administrative Borrower explaining the basis for such construction, be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall shall, upon written notice to the Administrative Borrower explaining the basis for such construction, be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 4 contracts
Samples: Credit Agreement (Potlatchdeltic Corp), Credit Agreement (Potlatchdeltic Corp), Credit Agreement (Potlatch Corp)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London relevant interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) If a change with respect to Euro occurs pursuant to any applicable law, rule or regulation of any Governmental Authority, then this Agreement (including the definition of Eurocurrency Rate) will be amended to the extent reasonably determined by the Administrative Agent (and, to the extent an Event of Default does not exist, the Company) to be necessary to reflect the change in currency and to put the Lenders and the Borrowers in the same position, as close as possible, that they would have been in if no change with respect to Euro had occurred.
(d) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currencycurrency and will put the Lenders and the Borrowers in the same position, as close as possible, that they would have been in if no such change had occurred.
Appears in 4 contracts
Samples: Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof Closing Date shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that provided, that, if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent Agent, in consultation with the Borrower, may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) . Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent Agent, in consultation with the Borrower, may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 3 contracts
Samples: Credit Agreement (Biogen Inc.), Credit Agreement (Biogen Inc.), Credit Agreement (Biogen Inc.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro; provided, however, that any changes to this Agreement pursuant to this Section 1.08(b) shall be consistent with changes that the Administrative Agent is generally making in credit agreements involving borrowers similarly situated to the Borrowers.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent (in consultation with Borrowers) may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country Agreed Currency and any relevant market conventions or practices relating to the change in currencysuch Agreed Currency; provided, however, that any changes to this Agreement pursuant to this Section 1.08(c) shall be consistent with changes that the Administrative Agent is generally making in credit agreements involving borrowers similarly situated to the Borrowers.
Appears in 3 contracts
Samples: Credit Agreement (Bruker Corp), Credit Agreement (Bruker Corp), Credit Agreement (Bruker Corp)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof Closing Date shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that provided, that, if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify (in consultation with the Company) to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement relating to the funding or maintenance of, or the performance by any Lender of any obligations with respect to, any Loan denominated in an Alternative Currency also shall be subject subject, in each case, to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 3 contracts
Samples: Revolving Credit Agreement (CDK Global, Inc.), Revolving Credit Agreement (CDK Global, Inc.), Revolving Credit Agreement (CDK Global, Inc.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent and the Borrower Representative, acting together, may from time to time reasonably and mutually specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent and the Borrower Representative, acting together, may from time to time reasonably and mutually specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 3 contracts
Samples: Credit Agreement (Adient PLC), Credit Agreement (Johnson Controls Inc), Credit Agreement (Adient LTD)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof Closing Date shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time in consultation with the Company specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify in consultation with the Company to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency,
d) Notwithstanding the foregoing, no change of construction pursuant to this Section 1.09 shall reduce or increase any actual or contingent liability arising under this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Host Hotels & Resorts L.P.), Credit Agreement (Host Hotels & Resorts L.P.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent and the Borrowers may from time to time specify agree (such consent of the Borrowers not to be reasonably necessary unreasonably withheld, delayed or conditioned) to be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent and the Borrowers may from time to time specify agree (such consent of the Borrowers not to be reasonably necessary unreasonably withheld, delayed or conditioned) to be appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Credit Agreement (Alexion Pharmaceuticals Inc), Credit Agreement (Alexion Pharmaceuticals Inc)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state Participating Member State of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member stateParticipating Member State, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state Participating Member State adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state Participating Member State is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state Participating Member State of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
(d) The Administrative Agent shall use commercially reasonable efforts to promptly advise the Lead Borrower of any changes of construction pursuant to clauses (b) and (c) hereof, but any failure to do so shall not limit the Administrative Agentβs rights or any changes made under such clauses.
Appears in 2 contracts
Samples: Senior Secured Debtor in Possession Credit Agreement (Quiksilver Inc), Credit Agreement (Quiksilver Inc)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Letter of Credit in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingLetter of Credit upon the earliest date on which each Letter of Credit is renewed, at the end of the then-current Interest Periodextended or expired.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Credit Agreement (Mantech International Corp), Credit Agreement (Mantech International Corp)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Company to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent Agent, with the consent of the Company (which consent shall not be unreasonably withheld), may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent Agent, with the consent of the Company (which consent shall not be unreasonably withheld), may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: 10 K Annual Report, Credit Agreement (Idex Corp /De/)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Credit Extension in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCredit Extension, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall shall, upon written notice to the Borrower explaining the basis for such construction, be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall shall, upon written notice to the Borrower explaining the basis for such construction, be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Credit Agreement (Navigant International Inc), Credit Agreement (Potlatch Corp)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment in respect of this Agreement denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors the debtor in either the Euro or such other currency, then the Borrowers Borrower shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Credit Agreement (LyondellBasell Industries N.V.), Credit Agreement (LyondellBasell Industries N.V.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each With respect to any Alternative Currency other than Euros, each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any applicable member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each With respect to any Alternative Currency other than Euros, each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any applicable other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Credit Agreement (Paperweight Development Corp), Credit Agreement (Appleton Papers Inc/Wi)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Credit Extension in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCredit Extension, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall shall, upon written notice to the Administrative Borrower explaining the basis for such construction, be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall shall, upon written notice to the Administrative Borrower explaining the basis for such construction, be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Credit Agreement (Potlatch Corp), Credit Agreement (Potlatch Corp)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that that, if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each To facilitate the administration of this Agreement, each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent (in consultation with the Lead Administrative Borrower) may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each To facilitate the administration of this Agreement, each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent (in consultation with the Lead Administrative Borrower) may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Credit Agreement (Signet Jewelers LTD), Credit Agreement (Signet Jewelers LTD)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent Agent, with the consent of the Borrowers (which consent shall not be unreasonably withheld), may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent Agent, with the consent of the Borrowers (which consent shall not be unreasonably withheld), may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Credit Agreement (Idex Corp /De/), Credit Agreement (Idex Corp /De/)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement Agreement, to the extent related to any Committed Borrowing in any currency other than Dollars, shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement Agreement, to the extent related to any Committed Borrowing in any currency other than Dollars, also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Credit Agreement (Church & Dwight Co Inc /De/), Credit Agreement (Church & Dwight Co Inc /De/)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement a Loan Party to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro Euros at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate (and which are acceptable to the Parent (acting reasonably)) to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate (and which are acceptable to the Parent (acting reasonably)) to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Enstar Group LTD), Revolving Credit Agreement
Change of Currency. (a) Each The obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London or applicable offshore interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent (subject to the agreement of the Parent Borrower (such agreement not to be unreasonably withheld or delayed)) may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent (subject to the agreement of the Parent Borrower (such agreement not to be unreasonably withheld or delayed)) may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Revolving Credit (US) Borrowing or any Revolving Credit (UK) Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingRevolving Credit (US) Borrowing or such Revolving Credit (UK) Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time reasonably specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Samples: Credit Agreement (Aptargroup Inc)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof Closing Date shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time in consultation with the Company specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify in consultation with the Company to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency,
(d) Notwithstanding the foregoing, no change of construction pursuant to this Section 1.09 shall reduce or increase any actual or contingent liability arising under this Agreement.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent (acting reasonably in consultation with the Borrower) may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to reflect such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect a other change in currency of any other country and any relevant market conventions or practices relating to the Euro or such other currency, as applicable, and the Administrative Agent shall provide three (3) Business Days prior notice to the Borrower and the Lenders of any such changes of construction prior to application thereof to any provision of this Agreement. In addition, if at any time, in the Administrative Agentβs reasonable judgment, the Euro or any other Alternative Currency is no longer readily available or freely transferable by reason of a change in currencyany applicable law, rule or regulation of any governmental, monetary or multinational authority or for any other reason, and any of the Administrative Agent, the Borrower or the Required Lenders so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend this Agreement (including, without limitation, the definition of Eurocurrency Rate) to the extent necessary to reflect the change in currency to put the Lenders, the other Secured Parties and the Borrower in the substantially identical position, so far as possible, that they would have been in if no such currency change had occurred.
Appears in 1 contract
Samples: Credit Agreement (Corporate Property Associates 16 Global Inc)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement any Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro, and the Administrative Agent shall provide three (3) Business Days prior notice to the Parent Borrower and the Lenders of any such changes of construction prior to application thereof to any provision of this Agreement.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Samples: Credit Agreement (W. P. Carey Inc.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or the currency of such other currencymember state, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent (and, to the extent a Default does not exist, Prologis) may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent (and, to the extent a Default does not exist, Prologis) may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the such change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof Closing Date shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that provided, that, if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement relating to the funding or maintenance of, or the performance by any Lender of any obligation with respect to, any Loan denominated in Euros shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement relating to the funding or maintenance of, or the performance by any Lender of any obligation with respect to, any Loan denominated in any Alternative Currency (other than Euro) shall also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time reasonably specify to be reasonably necessary appropriate to reflect a change in such currency of any other country and any relevant market conventions or practices relating to the change in such currency.
Appears in 1 contract
Samples: Credit Agreement (Adobe Inc.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro as its lawful currency after the Closing Date shall be redenominated into Euro at the time of such adoption (in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyUnion). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Credit Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Credit Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify specify, after consultation with Airgas, to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Credit Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify specify, after consultation with Airgas, to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Samples: Credit Agreement (Airgas Inc)
Change of Currency. (a) Each obligation of the Borrowers any Borrower under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro Euros at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers such Borrower shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Samples: Credit Agreement (Salesforce, Inc.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement any Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(ba) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro, and the Administrative Agent shall provide three (3) Business Days prior notice to the Parent Borrower and the Lenders of any such changes of construction prior to application thereof to any provision of this Agreement.
(cb) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Samples: Credit Agreement (W. P. Carey Inc.)
Change of Currency. (a) Each obligation of If the Borrowers under this Agreement to make United Kingdom is a payment denominated in the national currency unit of any member state of the European Union that Participating Member State and adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof hereof, each obligation of the Borrowers to make a payment denominated in Sterling shall be redenominated into Euro at the time of such adoptionadoption (in accordance with the EMU Legislation), provided that if and each reference herein to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers βSterlingβ shall be permitted deemed to repay such amount either in be a reference to βEuroβ unless the Euro or such other currencycontext indicates otherwise. If, in relation to the currency of any such member stateSterling, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state the United Kingdom adopts the Euro as its lawful currency; provided that if any borrowing Term Loan Borrowing in the currency of such member state Sterling is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingTerm Loan Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as are agreed to by the Administrative Agent may from and the Company at such time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union United Kingdom and any relevant market conventions or practices relating to the Euro. In the event no such agreement is reached by the date of the effectiveness of adoption of the Euro as the lawful currency of the United Kingdom, then the Administrative Agent shall specify such reasonable changes of construction.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as are agreed to by the Administrative Agent may from and the Company at such time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency. In the event no such agreement is reached by the date of the effectiveness of such change of currency of any other country, then the Administrative Agent shall specify such reasonable changes of construction.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in FIFTH AMENDED AND RESTATED CREDIT AGREEMENT respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent and the Company may agree from time to time and specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent and the Company may agree from time to time and specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof November 22, 2011 shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time in consultation with the Company specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify in consultation with the Company to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency,
d) Notwithstanding the foregoing, no change of construction pursuant to this Section 1.09 shall reduce or increase any actual or contingent liability arising under this Agreement.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement Agreement, to the extent related to any Committed Borrowing in any currency other than Dollars, shall be subject to such reasonable changes of construction as the Lead Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement Agreement, to the extent related to any Committed Borrowing in any currency other than Dollars, also shall be subject to such reasonable changes of construction as the Lead Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement any Borrower to make a payment denominated in the national currency unit of any member state of the European Union Participating Member State that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member stateParticipating Member State, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state Participating Member State adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state Participating Member State is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent Agent, acting at the direction of the Required Lenders, and the Borrower Representative may from time to time specify agree to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent Agent, acting at the direction of the Required Lenders, and the Borrower Representative may from time to time specify agree to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Samples: Credit Agreement (KKR & Co. L.P.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time in consultation with the Company specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify in consultation with the Company to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency,
d) Notwithstanding the foregoing, no change of construction pursuant to this Section 1.09 shall reduce or increase any actual or contingent liability arising under this Agreement.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers Borrower under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro EuroEuros at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers Borrower shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Samples: Credit Agreement (Salesforce, Inc.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency Currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency Currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency Currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currencyCurrency; provided that if any borrowing in the currency Currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement relating to interest rate and Currency determinations shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify in writing to the Borrower and the Lenders to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro. Any such changes will be made by the Administrative Agent in consultation with the Borrower.
(c) Each provision of this Agreement relating to interest rate and Currency determinations also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify in writing to the Borrower and the Lenders to be reasonably necessary appropriate to reflect a change in currency Currency of any other country and any relevant market conventions or practices relating to the change in currencyCurrency. Any such changes will be made by the Administrative Agent in consultation with the Borrower.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent and the Company may agree from time to time and specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.. FIFTH AMENDED AND RESTATED CREDIT AGREEMENT
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent and the Company may agree from time to time and specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent (and, to the extent a Default does not exist, Prologis) may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) If a change with respect to Euro occurs pursuant to any applicable law, rule or regulation of any Governmental Authority, then this Agreement (including the definition of Eurocurrency Rate) will be amended to the extent determined by Administrative Agent (and, to the extent a Default does not exist, Prologis) to be necessary to reflect the change in currency and to put Lenders and Borrowers in the same position, as close as possible, that they would have been in if no change with respect to Euro had occurred.
(d) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent (and, to the extent a Default does not exist, Prologis) may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the such change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of Airgas and the Foreign Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof Third Amendment Date shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Credit Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Credit Agreement shall be subject to such reasonable changes of construction as the Administrative U.S. Agent may from time to time specify specify, after consultation with Airgas, to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Credit Agreement also shall be subject to such reasonable changes of construction as the Administrative U.S. Agent may from time to time specify specify, after consultation with Airgas, to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Samples: Credit Agreement (Airgas Inc)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing AMERICAS/2024254939.6 62 Sealed Air β 4th A&R Syndicated Facility Agt Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Committed Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingCommitted Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement Agreement, to the extent related to any Committed Borrowing in any currency other than Dollars, shall be subject to such reasonable changes of construction as the Lead Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement Agreement, to the extent related to any Committed Borrowing in any currency other than Dollars, also shall be subject to such reasonable changes of construction as the Lead Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement Borrower to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Revolving Credit (MC) Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingRevolving Credit (MC) Borrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement relating to the funding or maintenance of, or the performance by any Lender of any obligation with respect to, any Loan denominated in Euros shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement pertaining relating to the funding or maintenance of, or the performance by any Lender of any obligation with respect to, any Loan denominated in any Alternative Currency (other than Euro) also shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time reasonably specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Samples: Credit Agreement (Reliance, Inc.)
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on THIRD AMENDED AND RESTATED CREDIT AGREEMENT which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent and the Company may agree from time to time and specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent and the Company may agree from time to time and specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency.
Appears in 1 contract
Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption, provided that if and to adoption (in accordance with the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then the Borrowers shall be permitted to repay such amount either in the Euro or such other currencyEMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any borrowing Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowingBorrowing, at the end of the then-then current Interest Period.
(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent (and, to the extent a Default does not exist, Prologis) may from time to time specify to be reasonably necessary appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro.
(c) If a change with respect to Euro occurs pursuant to any applicable Law, rule or regulation of any Governmental Authority, then this Agreement (including the definition of Eurocurrency Rate) will be amended to the extent determined by Administrative Agent (and, to the extent a Default does not exist, Prologis) to be necessary to reflect the change in currency and to put Lenders and Borrowers in the same position, as close as possible, that they would have been in if no change with respect to Euro had occurred.
(d) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent (and, to the extent a Default does not exist, Prologis) may from time to time specify to be reasonably necessary appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the such change in currency.
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