Conversion of Foreign Currencies. (a) The Administrative Agent shall determine the Dollar Equivalent of any amount as required hereby, and a determination thereof by the Administrative Agent shall be conclusive absent manifest error using the procedure set forth in the definition of “Dollar Equivalent” and Section 1.3(b). The Administrative Agent may, but shall not be obligated to, rely on any determination made by any Loan Party in any document delivered to the Administrative Agent.
Conversion of Foreign Currencies. (a) For purposes of this Agreement and the other Loan Documents, with respect to any monetary amounts in a currency other than Dollars, the Dollar Equivalent thereof shall be determined based on the Exchange Rate in effect at the time of such determination (unless otherwise explicitly provided herein).
Conversion of Foreign Currencies. Payment instructions of the Cardholder in foreign currency will be converted into Euros at an exchange rate calculated by card complete (“the card complete exchange rate)” and published on its website xxx.xxxxxxxxxxxx.xxx. In calculating the rate, card complete uses the reference exchange rates for the various currencies that are published by the international Visa card organisation. The rates published by Visa on its homepage xxx.xxxxxxxxxx.xxx are calculated on the basis of the highest and lowest rates of the previous 24 hours as published by international sources such as Reuters or Bloomberg. The card complete exchange rate is calculated from the reference exchange rate and a purchase discount. The date for the conversion is the business day on which card complete is debited by the relevant Accepting Partner. A business day is defined for card complete as any date of the calendar year except Saturdays, Sundays, public holidays and the 24 th of December. If a payment instruction (debit) is received on a non- business day or after 22.30 hours (10.30. p.m. CET), the debit will be dated as if received on the next business day. This date (clearing date) will be shown on the account statement.
Conversion of Foreign Currencies. (a) For purposes of determining compliance as of any date after the 2020 Incremental Amendment Effective Date with Section 2.14, Article VII, Article VIII (other than Section 8.10 and the calculation of the First Lien Net Leverage Ratio in connection therewith), Article IX or for any other calculation or determination hereunder, any relevant amount (including any amount of Indebtedness incurred or outstanding) that is denominated in any currency other than Dollars shall be translated into Dollars at the currency exchange rates for corresponding items used in preparing Holdings’ financial statements for the last Test Period for which financial statements have been delivered pursuant to Section 7.01 and will, in the case of Indebtedness, reflect the currency translation effects, determined in accordance with GAAP. For purposes of Section 8.10 and the calculation of compliance with the First Lien Net Leverage Ratio for purposes of taking any action thereunder, on any relevant date of determination, amounts denominated in currencies other than Dollars shall be translated into Dollars at the applicable currency exchange rate used in preparing the financial statements delivered pursuant to Sections 7.01(a) or (b), as applicable, for the relevant Test Period.
Conversion of Foreign Currencies. (a) If more than one currency or currency unit are at the same time recognized by the central bank of any country as the lawful currency of that country, then (i) any reference in the Loan Documents to, and any obligations arising under the Loan Documents in, the currency of that country shall be translated into or paid in the currency or currency unit of that country designated by the Administrative Agent and (ii) any translation from one currency or currency unit to another shall be at the official rate of exchange recognized by the central bank for conversion of that currency or currency unit into the other, rounded up or down (to the next 1/16 of 1%) by the Administrative Agent as it deems appropriate.
Conversion of Foreign Currencies. (a) The Administrative Agent shall determine the Dollar Equivalent of any amount denominated in an Optional Currency as required hereby, and a determination thereof by the Administrative Agent shall be conclusive absent manifest error using the procedure set forth in the definition of “Dollar Equivalent” and Section 1.3(b). The Administrative Agent may, but shall not be obligated to, rely on any determination made by any Loan Party in any document delivered to the Administrative Agent. A Letter of Credit denominated in an Optional Currency shall initially have a Dollar Equivalent determined using the Exchange Rate in effect on the date the Borrower requests the issuance thereof, adjusted on each Adjustment Date using the Exchange Rates used to make the calculations pursuant to Section 2.6(c).
Conversion of Foreign Currencies. (a) Not later than 11:00 A.M. (London time) on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date for (x) each Foreign Currency in which a Foreign Currency Loan is then outstanding or will be outstanding after giving effect to any submitted borrowing notices and (y) each L/C Foreign Currency in which a Letter of Credit has been issued and is then outstanding or will be outstanding after giving effect to any submitted Applications, (ii) give notice to the Borrower of each Exchange Rate determined pursuant to clause (i) and (iii) give notice to the Foreign Currency Lenders of each Exchange Rate determined pursuant to clause (i)(x). Each Exchange Rate so determined shall become effective on the relevant Calculation Date and remain effective until the next succeeding Calculation Date and shall for all purposes of this Agreement (other than for purposes of Section 1.3(c), Section 2.21 or any provision expressly requiring the use of a current Exchange Rate) be the Exchange Rate employed in converting any amounts between Dollars and the relevant Foreign Currency or L/C Foreign Currency, as applicable.
Conversion of Foreign Currencies. Payment instructions of the Cardholder in foreign currency will be converted into Euros at an exchange rate chosen by card complete and published on its website xxx.xxxxxxxxxxxx.xxx. The date for the conversion is the business day on which card complete is debited by the relevant Accepting Partner. A business day is defined for card complete as any date of the calendar year except Saturdays, Sundays, public holidays and the 24th of December. If a payment instruction (debit) is received on a non-business day or after 22.30 hours (10.30. p.m. CET), the debit will be dated as if received on the next business day. This date (clearing date) will be shown on the account statement.
Conversion of Foreign Currencies. Payment instructions of the Cardholder in foreign currency will be converted into Euros at an exchange rate chosen by card complete and published on its website xxx.xxxxxxxxxxxx.xxx. The date for the conversion is the date on which card complete is debited by the relevant Accepting Partner. If that date falls on a Saturday, Sunday or public holiday, the debit is dated on the next business day. This date (clearing date) will be shown on the monthly statement.
Conversion of Foreign Currencies. To the extent that Net Sales are accrued in currencies other than United States dollars, such Net Sales shall be converted to United States dollars using the applicable monthly exchange rate for converting such local currency to Unites States dollars in accordance with Valeant’s worldwide accounting systems and policies.
