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, Sterling and Euros. In connection with all Dollar amounts set forth in this Agreement, and the Aggregate Borrowing Base, U.S. Borrowing Base, U.K. Borrowing Base and Canadian Borrowing Base calculations, all Canadian Dollars, Euros and Sterling shall be converted to Dollars in accordance with the following procedure: (i) Conversions to Dollars shall occur in accordance with prevailing exchange rates, as determined by Agent in its reasonable discretion, on the applicable date; and (ii) Outstanding Loans denominated in Canadian Dollars, Sterling and Euros shall be marked to market on the date on which Borrower Representative is required to deliver to Agent Borrowing Base Certificates as provided in Section 7.1.4 hereof (or more often as determined by Agent in its commercially reasonable discretion), taking into account in each case the Dollar Equivalent of all Revolving Credit Loans outstanding in Canadian Dollars, Sterling and Euros. (b) Unless otherwise specifically set forth in this Agreement, monetary amounts shall be in Dollars.

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, Sterling and Euros. In connection with all Dollar amounts set forth in this Agreement, and the Aggregate Borrowing Base, U.S. Borrowing Base, U.K. Borrowing Base and Canadian Borrowing Base calculations, all Canadian Dollars, Euros and Sterling shall be converted to Dollars in accordance with the following procedure: (i) Conversions to Dollars shall occur in accordance with prevailing exchange rates, as determined by Agent in its reasonable sole discretion, on the applicable date; and (ii) Outstanding Loans denominated in Canadian Dollars, Sterling and Euros shall be marked to market on the date on which Borrower Representative is required to deliver to Agent Borrowing Base Certificates as provided in Section 7.1.4 section 8.1.4 hereof (or more often as determined by Agent in its commercially reasonable discretion), taking into account in each case the Dollar Equivalent of all Revolving Credit Loans outstanding in Canadian Dollars, Sterling and Euros. (b) Unless otherwise specifically set forth in this Agreement, monetary amounts shall be in Dollars.