Common use of Conversion to Dollars Clause in Contracts

Conversion to Dollars. (a) All valuations or computations of monetary amounts set forth in this Agreement shall include the Dollar Equivalent of amounts in Canadian Dollars. In connection with all Dollar amounts set forth in this Agreement, and the U.S. Borrowing Base and Canadian Borrowing Base calculations, all Canadian Dollars shall be converted to Dollars in accordance with the following procedure: (i) Conversions to Dollars shall occur in accordance with the prevailing exchange rate, as published in The Wall Street Journal on the date of conversion (or, if the date of conversion is not a day on which The Wall Street Journal is published, as published in the most recent edition of The Wall Street Journal) as the rate in effect on the Business Day prior to the date of publication. If The Wall Street Journal shall cease to publish exchange rates for Canadian Dollars, the Agent shall determine the prevailing exchange rate in its reasonable credit judgment. (ii) For the purpose of determining whether repayments must be made under Section 1.1(a)(i) or 1.1(a)(ii) on a date other than the Commitment Termination Date, outstanding Loans denominated in Canadian Dollars and the Canadian Borrowing Base shall be marked to market on a (a) monthly basis as long as Aggregate Borrowing Availability (determined using the exchange rates in effect on the most recent date of conversion prior to the date of determination) equals or exceeds $10,000,000, (b) weekly basis as long as Aggregate Borrowing Availability (determined using the exchange rates in effect on the most recent date of conversion prior to the date of determination) equals or exceeds $5,000,000 but is less than $10,000,000, and (c) on a daily basis as long as Aggregate Borrowing Availability (determined using the exchange rates in effect on the most recent date of conversion prior to the date of determination) is less than $5,000,000, in each case as of the last Business Day of such period and taking into account in each case the Dollar Equivalent of all Loans outstanding in Canadian Dollars and of the Canadian Borrowing Base. (b) Unless otherwise specifically set forth in this Agreement, monetary amounts shall be in Dollars.