Common use of Conversion of Foreign Currency receipts to Dollars Clause in Contracts

Conversion of Foreign Currency receipts to Dollars. (a) Notwithstanding the Obligor's obligation under clause 11.1 to make all payments in Dollars, if any payment is tendered to the Agent or a Bank under any Transaction Document in a Foreign Currency, the Agent or Bank, as the case may be, at its absolute discretion may accept payment in the Foreign Currency as tendered. (b) If any payment in a Foreign Currency is tendered to and accepted by the Agent or Bank, or if any funds are recovered by the Agent or Bank under any Transaction Document in a Foreign Currency, the Agent or Bank as the case may be at its absolute discretion may actually or notionally convert such payment or funds to Dollars at such time or times as it sees fit and at such rate or rates as it is, or considers it would be, able to obtain in the market at the time of such conversion. The amount of Dollars actually or notionally received after such conversion will be applied in reduction of the Obligations.

Conversion of Foreign Currency receipts to Dollars. (a1) Notwithstanding the Obligor's obligation under clause 11.1 11.2 to make all payments in Dollars, if any payment is tendered to the an Agent or a Bank under any Transaction Document in a Foreign Currency, the Agent or Bank, as the case may be, at its absolute discretion may accept payment in the Foreign Currency as tendered. (b2) If any payment in a Foreign Currency is tendered to and accepted by the an Agent or Bank, or if any funds are recovered by the an Agent or Bank under any Transaction Document in a Foreign Currency, the Agent or Bank as the case may be at its absolute discretion may actually or notionally convert such payment or funds to Dollars at such time or times as it sees fit and at such rate or rates as it is, or considers it would be, able to obtain in the market at the time of such conversion. The amount of Dollars actually or notionally received after such conversion will be applied in reduction of the Obligations.

Conversion of Foreign Currency receipts to Dollars. (a) Notwithstanding the Obligor's obligation under clause 11.1 to make all payments in Dollars, if any payment is tendered to the Agent or a Bank under any Transaction Document in a Foreign Currency, the Agent or Bank, as the case may be, at its absolute discretion may accept payment in the Foreign Currency as tendered. (b) If any payment in a Foreign Currency is tendered to and accepted by the Agent or Bank, or if any funds are recovered by the Agent or Bank under any Transaction Document in a Foreign Currency, the Agent or Bank as the case may be at its absolute discretion may actually or notionally convert such payment or funds to Dollars at such time or times as it sees fit and at such rate or rates as it is, or considers it would be, able to obtain in the market at the time of such conversion. The amount of Dollars actually or notionally received after such conversion will be applied in reduction of the Obligations.