Common use of Conditions relating to Optional Currencies Clause in Contracts

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.

Appears in 2 contracts

Samples: Acquisition Facilities Agreement (Cemex Sa De Cv), Acquisition Facilities Agreement (Cemex Sab De Cv)

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Conditions relating to Optional Currencies. (a) A currency will constitute an Optional Currency in relation to a Revolving Facility Utilisation ifif it is euro or sterling or: (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 Facility 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 Facility Agent (acting on the instructions of all the LendersLenders participating in the Revolving Facility, acting reasonably) on or prior to receipt by the Facility 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 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 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 multiplesapproximately equivalent to the minimum amount for a Utilisation in the Base Currency) for any subsequent Utilisation in that currency.

Appears in 1 contract

Samples: Senior Facilities Agreement (NDS Group PLC)

Conditions relating to Optional Currencies. (a) A currency will constitute an Optional Currency in relation to a Utilisation ifTranche D2 Loan or a Facility E Loan if it is sterling, dollars or YEN or: (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 Loan Request and the Utilisation Date for that UtilisationLoan; 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 Loan Request or Selection Notice for that UtilisationLoan. (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 approvalapproval (such approval not to be unreasonably withheld); and (ii) if approval has been granted, the minimum amount (and, if required, integral multiples) for any subsequent Utilisation Loan in that currencycurrency which shall be the approximate equivalent (based on then current market rates of exchange) of €10,000,000 rounded to an appropriate and convenient multiple.

Appears in 1 contract

Samples: Multicurrency Facilities Agreement (Pernod Ricard S a /Fi)

Conditions relating to Optional Currencies. (a) A currency (other than a Committed Currency) will constitute an Optional Currency in relation to a Utilisation Revolving Facility Loan 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 Quotation Day and the Utilisation Date for that UtilisationLoan; and (ii) it is in euro or has been approved by the Facility Agent (acting on the instructions of all the LendersLenders with a Revolving Facility Commitment) on or prior to receipt by the Facility Agent of the relevant Utilisation Request or Selection Notice for that UtilisationLoan. (b) The Lenders will only be obliged to comply with Clause 30.9 (Change of currency) ifIf, on by the first day of an Interest PeriodSpecified Time, 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 Facility Agent has received a written request from the Company Obligors’ Agent for a currency to be approved under paragraph (a)(ii) above, the Facility Agent will notify the relevant Lenders of that request by the Specified Time. Based on any responses received by the Facility Agent by the Specified Time, the Facility Agent will confirm to the Company Obligors’ Agent by the Specified Time: (i) whether or not the relevant 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.

Appears in 1 contract

Samples: Multicurrency Term and Revolving Facilities and Subscription Agreement (BHP Billiton LTD)

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 Quotation Day and the Utilisation Date for that Utilisation; and (ii) it is in euro sterling, euros or yen 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.

Appears in 1 contract

Samples: Facilities Agreement (Cemex Sab De Cv)

Conditions relating to Optional Currencies. (a) A currency will constitute an Optional Currency in relation to a Facility B 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 Quotation Day and the Utilisation Date for that Utilisation; and (ii) it is in euro Sterling or euros 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 If by 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 Specified Time the Agent has received a written request from the Company Parent for a currency to be approved under paragraph (a)(ii) above, the Agent will confirm to the Company Parent 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. (c) If the euro constitutes an Optional Currency at any time and the Parent has specified in a Utilisation Request that the euro is the currency of the proposed Utilisation, that Utilisation will only be made available in the euro unit.

Appears in 1 contract

Samples: Second Supplemental Facility Agreement (Paradigm Ltd.)

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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 Quotation Day and the Utilisation Date for that Utilisation; and (ii) it is in sterling 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 or Selection Notice for that Utilisation. (b) The Lenders will only be obliged to comply with Clause 30.9 29.9 (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 Borrower for a currency to be approved under paragraph (a)(ii) above, the Agent will confirm to the Company Borrower 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.

Appears in 1 contract

Samples: Facilities Agreement (Cemex Sa De Cv)

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 Quotation Day and the Utilisation Date for that Utilisation; and (ii) it is in sterling, euro or yen 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 28.9 (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 Borrower for a currency to be approved under paragraph (a)(ii) above, the Agent will confirm to the Company Borrower 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.

Appears in 1 contract

Samples: Facilities Agreement (Cemex Sab De Cv)

Conditions relating to Optional Currencies. (a) A currency will constitute an Optional Currency in relation to a any Utilisation of the Revolving Facility if it is Sterling, Euros or Roubles or any other currency if: (i) it such other currency is readily available in the amount required and freely convertible into the Base Currency for that Facility in the Relevant London Interbank Market at the Specified Time or, if later, on the date the Facility Agent receives the relevant Utilisation Request and the Utilisation Date for that Utilisation; and (ii) it is in euro or such other currency has been approved by the Facility Agent (acting on the instructions of all the LendersLenders under the Revolving Facility), provided that (A) on or prior to receipt by the Agent no more than US$25,000,000 of the relevant Revolving Facility (less the Base Currency Amount of the outstanding amounts of any Utilisations of such Facility made in Roubles) shall be available at any time in Roubles, and (B) any Utilisation Request or Selection Notice for that Utilisationof the Revolving Facility in Roubles must be made under an Ancillary Facility. (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 Facility Agent has received a written request from the Company for a currency to be approved under paragraph (a)(iia)(i) above, the Facility 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 of the Revolving Facility in that currency.

Appears in 1 contract

Samples: Senior Facilities Agreement (Central European Distribution Corp)

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