Common use of Conversion of Currencies Clause in Contracts

Conversion of Currencies. If, for the purpose of obtaining a judgment in any court, it is necessary to convert a sum owing hereunder or under any other Loan Document in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be the Exchange Rate on the Business Day immediately preceding the day on which final judgment is given. The obligations of each Obligor in respect of any sum due to any party hereto or any holder of any Obligation owing hereunder or any other Loan Document (such party or holder being the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in New York, NY purchase the Agreement Currency with the Judgment Currency; provided that, if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the applicable Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of each Obligor under this Section shall survive the termination of this Agreement, the other Loan Documents and the payment of all other amounts owing hereunder or thereunder, as applicable.

Appears in 2 contracts

Samples: Credit Agreement (Zymeworks Inc.), Credit Agreement (Zymeworks Inc.)

AutoNDA by SimpleDocs

Conversion of Currencies. (a) If, for the purpose of obtaining a judgment in any court, it is necessary to convert a sum owing hereunder or under any other Loan Document in one currency into another currency, each party hereto (including each Borrowing Subsidiary) agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the Exchange Rate relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given. (b) The obligations of each Obligor Borrower in respect of any sum due to any other party hereto or any holder of any Obligation the obligations owing hereunder or any other Loan Document (such party or holder being the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in New York, NY the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; provided that, if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the applicable such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such lossdeficiency. The obligations of each Obligor under this Section shall survive the termination of this Agreement, the other Loan Documents and the payment of all other amounts owing hereunder or thereunder, as applicableSECTION 10.19.

Appears in 2 contracts

Samples: Credit Agreement (Westinghouse Air Brake Technologies Corp), Credit Agreement (Westinghouse Air Brake Technologies Corp)

Conversion of Currencies. If, for the purpose of obtaining a judgment in any court, it is necessary to convert a sum owing hereunder or under any other Loan Document in one currency Currency into another currencyCurrency, each party hereto agrees, to the fullest extent that it may effectively do so, agrees that the rate of exchange used shall be that at which in accordance with normal banking procedures in the Exchange Rate relevant jurisdiction the first Currency could be purchased with such other Currency on the Business Day immediately preceding the day on which final judgment is given. The obligations obligation of each Obligor a Borrower in respect of any sum due to any party hereto or any holder of any Obligation owing hereunder or any other Loan Document Bank (such party or holder being the "Applicable Creditor”Bank") shall, notwithstanding any judgment in a currency Currency (the "Judgment Currency") other than the currency Currency in which such sum is stated to be due hereunder (the "Agreement Currency"), be discharged only to the extent that, that on the Business Day following receipt by the Applicable Creditor Bank of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor Bank may in accordance with normal banking procedures in New York, NY the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; provided that, if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor Bank in the Agreement Currency, the applicable such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor Bank against such loss. The obligations of each Obligor under the Borrowers contained in this Section shall survive the termination of this Agreement, the other Loan Documents and the payment of all other amounts owing hereunder or thereunder, as applicable.Credit Agreement Final

Appears in 1 contract

Samples: Credit Agreement (Alleghany Corp /De)

Conversion of Currencies. SECTION 11.24 If, for the purpose of obtaining a judgment in any court, it is necessary to convert a a(a) sum owing hereunder or under any other Loan Document in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the Exchange Rate relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given. The obligations of each Obligor U.S. Borrower in respect of any sum due to any party party(b) hereto or any holder of any Obligation the obligations owing hereunder or any other Loan Document (such party or holder being the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in New York, NY the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; provided that, if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the applicable Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of each Obligor under this Section shall survive the termination of this Agreement, the other Loan Documents and the payment of all other amounts owing hereunder or thereunder, as applicable.174 [[5628733]]

Appears in 1 contract

Samples: 2020 Credit Agreement (White Mountains Insurance Group LTD)

Conversion of Currencies. If, for the purpose of obtaining a judgment in any court, it is necessary to convert a sum owing hereunder or under any other Loan Document in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the Exchange Rate relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day date on which final judgment is given. The obligations of each Obligor the Borrowers in respect of any sum such due to any party hereto or any holder of any Obligation owing hereunder or any other Loan Document Lender (such party or holder being the “Applicable Creditor”"APPLICABLE LENDER") shall, notwithstanding any judgment in a currency (the “Judgment Currency”"JUDGMENT CURRENCY") other than the currency in which such sum is stated to be due hereunder (the “Agreement Currency”"AGREEMENT CURRENCY"), be discharged only to the extent that, that on the Business Day following receipt by the Applicable Creditor Lender of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor Lender may in accordance with normal banking procedures in New York, NY the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; provided that, if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor Lender in the Agreement Currency, the applicable Borrower agreesBorrowers agree, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor Lender against such loss. The obligations of each Obligor under the Borrowers contained in this Section SECTION 11.17 shall -91- survive the termination of this Agreement, the other Loan Documents Agreement and the payment of all other amounts owing hereunder or thereunder, as applicablehereunder.

Appears in 1 contract

Samples: Credit Agreement (Power One Inc)

Conversion of Currencies. If, for the purpose of obtaining a judgment in any court, it is necessary to convert a sum owing hereunder or under any other Loan Document in one currency into another currency, each party hereto (including any Subsidiary Borrower) agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which, in accordance with normal banking procedures in the Exchange Rate relevant jurisdiction, the first currency could be purchased with such other currency on the Business Banking Day immediately preceding the day on which final judgment is given. The obligations of the Company and each Obligor Subsidiary Borrower in respect of any sum due to any party hereto or any holder of any Obligation the obligations owing hereunder or any other Loan Document (such party or holder being the "Applicable Creditor") shall, notwithstanding any judgment in a currency (the "Judgment Currency") other than the currency in which such sum is stated to be due hereunder (the "Agreement Currency"), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in New York, NY the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; provided thatsubject to subsection 14.17, if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the applicable Company and each Subsidiary Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of each Obligor under the Company and the Subsidiary Borrowers contained in this Section subsection 14.16 shall survive the termination of this Agreement, the other Loan Documents Agreement and the payment of all other amounts owing hereunder or thereunder, as applicablehereunder.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Kinetic Concepts Inc /Tx/)

AutoNDA by SimpleDocs

Conversion of Currencies. (a) If, for the purpose of obtaining a judgment in any court, it is necessary to convert a sum owing hereunder or under any other Loan Document in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the Exchange Rate relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given. (b) The obligations of each Obligor the Term Facility Borrower in respect of any sum due to any party hereto or any holder of any Obligation the obligations owing hereunder or any other Loan Document (such party or holder being the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in New York, NY the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; provided that, if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the applicable Term Facility Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of each Obligor under the Term Facility Borrower contained in this Section 9.15 shall survive the termination of this Agreement, the other Loan Documents Agreement and the payment of all other amounts owing hereunder or thereunder, as applicable.hereunder. SECTION 9.16

Appears in 1 contract

Samples: Term Loan Credit Agreement

Conversion of Currencies. If, for the purpose of obtaining a judgment in any court, it is necessary to convert a sum owing hereunder or under any other Loan Document in one currency into another currency, each party hereto (including any Borrowing Subsidiary) agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the Exchange Rate relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given. The obligations of each Obligor Borrower in respect of any sum due to any party hereto or any holder of any Obligation the obligations owing hereunder or any other Loan Document (such party or holder being the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in New York, NY the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; provided that, if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the applicable such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of each Obligor under the Borrowers contained in this Section 10.16 shall survive the termination of this Agreement, the other Loan Documents Agreement and the payment of all other amounts owing hereunder or thereunder, as applicablehereunder.

Appears in 1 contract

Samples: Five Year Credit Agreement (Bowne & Co Inc)

Conversion of Currencies. (a) If, for the purpose of obtaining a judgment in any court, it is necessary to convert a sum owing hereunder or under any other Loan Document in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the Exchange Rate relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given. (b) The obligations of each Obligor party hereto in respect of any sum due to any other party hereto or any holder of any Obligation the obligations owing hereunder or any other Loan Document (such party or holder being the "Applicable Creditor") shall, notwithstanding any judgment in a currency (the "Judgment Currency") other than the currency in which such sum is stated to be due hereunder (the "Agreement Currency"), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in New York, NY the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; provided that, if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the applicable Borrower such party agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of each Obligor under this Section shall survive the termination of this Agreement, the other Loan Documents and the payment of all other amounts owing hereunder or thereunder, as applicable.The

Appears in 1 contract

Samples: Dentsply International Inc /De/

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!