Conditions relating to Optional Currencies. (a) A currency will constitute an Optional Currency in relation to a Utilisation if:
(i) it is readily available in the amount required and freely convertible into the Base Currency in the Relevant Interbank Market on the Quotation Day and the Utilisation Date for that Utilisation; and
(ii) it is US dollars or has been approved by the Agent (acting on the instructions of all the Lenders) on or prior to receipt by the Agent of the relevant Utilisation Request or Selection Notice for that Utilisation.
(b) If by the Specified Time the Agent has received a written request from the Company for a currency to be approved under paragraph (a)(ii) above, the Agent will notify the Lenders of that request by the Specified Time. Based on any responses received by the Agent by the Specified Time, the Agent will confirm to the Company by the Specified Time:
(i) whether or not the Lenders have granted their approval; and
(ii) if approval has been granted, the minimum amount (and, if required, integral multiples) for any subsequent Utilisation in that currency.
Conditions relating to Optional Currencies. (a) A currency will constitute an Optional Currency in relation to an Advance if:
(i) it is a eurocurrency readily available in the amount required and freely convertible into the Base Currency in the Relevant Interbank Market on the Quotation Day and the Utilisation Date for that Advance; and
(ii) it is dollars or sterling or has been approved by the Facility Agent (acting on the instructions of all the Lenders) on or prior to receipt by the Facility Agent of the relevant Utilisation Request for that Loan. Back to Contents
(b) If the Facility Agent has received a written request from the Company for a currency to be approved under paragraph (a)(ii) above, the Facility Agent will, as soon as reasonably practicable, confirm to the Company:
(i) whether or not the Lenders have granted their approval; and
(ii) if approval has been granted, the minimum amount (and, if required, integral multiples) for any subsequent Utilisation in that currency.
Conditions relating to Optional Currencies. (a) A currency will constitute an Optional Currency in relation to a Utilisation if:
(i) it is readily available in the amount required and freely convertible into the Base Currency in the Relevant Interbank Market on the Quotation Day and the Utilisation Date for that Utilisation; and
(ii) it is HKD, GBP, Swiss Franc or Euro or has been approved by the Agent (acting on the instructions of all the Lenders) on or prior to receipt by the Agent of the relevant Utilisation Request for that Utilisation.
(b) If the Agent has received a written request from the Company for a currency to be approved under paragraph (a)(ii) above, the Agent will confirm to the Company no later than the Specified Time:
(i) whether or not the Lenders have granted their approval; and
(ii) if approval has been granted, the minimum amount for any subsequent Utilisation in that currency.
Conditions relating to Optional Currencies. (a) A Loan may be denominated in an Optional Currency for a Term if:
(i) that Optional Currency is readily available in the amount required and freely convertible into US Dollars in the relevant interbank market on the Rate Fixing Day and the first day of that Term; and
(ii) that Optional Currency is Sterling or Euros or has been previously approved by the Facility Agent (acting on the instructions of all the Lenders).
(b) If the Facility Agent has received a request from the Parent for a currency to be approved as an Optional Currency, the Facility Agent must, within five Business Days, confirm to the Parent:
(i) whether or not the Lenders have given their approval; and
(ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency.
Conditions relating to Optional Currencies. (a) A Loan may be denominated in an Optional Currency for an Interest Period if:
(i) that Optional Currency is readily available in the amount required and freely convertible into euros in the relevant interbank market on the Rate Fixing Day and the first day of that Interest Period; and
(ii) that Optional Currency is Danish Kroner, Sterling or Swedish Kronor or has been previously approved by the Facility Agent (acting on the instructions of all the Lenders).
(b) If the Facility Agent has received a request from the Borrower for a currency to be approved as an Optional Currency, the Facility Agent must, within five Business Days, confirm to the Borrower:
(i) whether or not the Lenders have given their approval; and
(ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency.
Conditions relating to Optional Currencies. (a) A currency will constitute an Optional Currency in relation to a Utilisation if:
(i) it is readily available in the amount required and freely convertible into the Base Currency in the Relevant Interbank Market at the Specified Time or, if later, on the date the Agent receives the relevant Utilisation Request and the Utilisation Date for that Utilisation; and
(ii) it is in euro or has been approved by the Agent (acting on the instructions of all the Lenders) on or prior to receipt by the Agent of the relevant Utilisation Request or Selection Notice for that Utilisation.
(b) The Lenders will only be obliged to comply with Clause 30.9 (Change of currency) if, on the first day of an Interest Period, no Default is continuing or would result from the change of currency and the Repeating Representations to be made by each Obligor as at that date are true in all material respects.
(c) If the Agent has received a written request from the Company for a currency to be approved under paragraph (a)(ii) above, the Agent will confirm to the Company by the Specified Time:
(i) whether or not the Lenders have granted their approval; and
(ii) if approval has been granted, the minimum amount (and, if required, integral multiples) for any subsequent Utilisation in that currency.
Conditions relating to Optional Currencies. A currency will constitute an Optional Currency in relation to a Loan if:
(a) it is readily available in the amount required and freely convertible into the Base Currency in the Relevant Interbank Market on the Quotation Day and the Utilisation Date for that Loan; and
(b) it is dollars, Canadian dollars, Swiss francs or sterling or has been approved by the Agent (acting on instructions of all the Banks) as an Optional Currency in relation to that Loan on or prior to receipt by the Agent of the relevant Utilisation Request in relation to that Loan.
Conditions relating to Optional Currencies. A currency will constitute an Optional Currency in relation to an Advance if it is Sterling or Dollars, or it is readily available in the amount required and freely convertible into the Base Currency in the Relevant Interbank Market on the Quotation Day and the Utilisation Date for that Advance provided that there may not at any time be Advances outstanding denominated in more than 5 Optional Currencies.
Conditions relating to Optional Currencies. 4.4.1 A currency will constitute an Optional Currency in relation to a Revolving Loan if it is sterling or euro or it is:
(a) readily available in the amount required and freely convertible into the Base Currency in the Relevant Interbank Market on the Quotation Day and the Utilisation Date for that Revolving Loan; and
(b) a currency which has been approved by the Facility Agent (acting on the instructions of all the Revolving Lenders acting reasonably) on or prior to receipt by the Facility Agent of the relevant Utilisation Request for that Revolving Loan.
4.4.2 If the Facility Agent has received a written request from the Company for a currency to be approved under sub-clause 4.3.1 above, the Facility Agent will confirm to the Company by the Specified Time:
(a) whether or not the Revolving Lenders have granted their approval; and
(b) if approval has been granted, the minimum amount for any subsequent Utilisation in that currency which will be an amount equivalent to US$10,000,000 (rounded to the nearest 1,000,000).
Conditions relating to Optional Currencies. (a) A currency will constitute an Optional Currency in relation to a Loan if:
(i) it is readily available in the amount required and freely convertible into the Base Currency in the European interbank market on the Quotation Day and the Utilisation Date for that Loan; and
(ii) it is U.S. Dollars or any other currency approved by the Agent (acting on the instruction of all of the Lenders) on or prior to receipt by the Agent of the relevant Utilisation Request for that Loan.
(b) If the Agent has received a written request from the Borrower for a currency to be approved under paragraph (a)(ii) above, the Agent will confirm to the Borrower by the Specified Time whether or not the Lenders have granted their approval.
