Currency Clauses. 8 13. Remedies, Waivers and Consents....................................... 9 14. Notices.............................................................. 9
Currency Clauses. 12.1 All moneys received or held by the Agent or any Bank under this Deed may from time to time be converted into such other currency as the Agent or such Bank reasonably considers necessary or desirable to cover the obligations and liabilities, actual or contingent, of the Borrower in that currency at the then prevailing spot rate of exchange of the Agent or such Bank, as the case may be, (as conclusively determined by the Agent or such Bank) for purchasing that other currency with the existing currency.
12.2 If and to the extent that the Borrower fails to pay the amount due on demand the Agent may in its absolute discretion, without notice to the Chargor, purchase at any time thereafter so much of any currency as the Agent reasonably considers necessary or desirable to cover the obligations and liabilities, actual or contingent, of the Borrower in such currency hereby secured at the then prevailing spot rate of exchange of the Agent (as conclusively determined by the Agent) for purchasing such currency with pounds sterling and the Chargor hereby agrees the amount of sterling used by the Agent for such purchase together with any related costs or expenses necessary to effect such conversion shall be an additional charge on the Charged Property.
12.3 No payment to the Agent (whether under any judgment or court order or otherwise) shall discharge any obligation or liability in respect of which it was made unless and until the Agent shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent that the amount of any such payment shall on actual conversion into such currency fall short of such obligation or liability, actual or contingent, expressed in that currency the Agent and the Banks shall be entitled to enforce the charge hereby created to recover the amount of the shortfall.
Currency Clauses. 14 23. MISCELLANEOUS ........................................................14 24.
Currency Clauses. 15.1 All moneys received or held by ESF or by a Receiver under this Deed may from time to time after demand has been made by ESF be converted into such other currency as ESF considers necessary or desirable to cover the obligations and liabilities actual or contingent of the Client in that other currency at the then prevailing spot rate of exchange obtainable by ESF (as conclusively determined by ESF) for purchasing that other currency with the existing currency.
15.2 If and to the extent that the Client fails to pay the amount due on demand ESF may in its absolute discretion without notice to the Client purchase at any time thereafter so much of any currency as ESF considers necessary or desirable to cover the obligations and liabilities of the Client in such currency hereby secured at the then prevailing spot rate of exchange obtainable by ESF (as conclusively determined by ESF) for purchasing such currency with sterling and the Client hereby agrees to indemnify ESF against the full sterling cost incurred by ESF for such purchase.
15.3 No payment to ESF (whether under any judgement or court order or otherwise) shall discharge the obligation or liability of the Client in respect of which it was made unless and until ESF shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent that the amount of any such payment shall on actual conversion into such currency falls short of such obligation or liability actual or contingent expressed in that currency ESF shall have a further separate cause of action against the Client and shall be entitled to enforce the charges hereby created to recover the amount of the shortfall.
Currency Clauses. 10.1 If a payment is made to the Owner under this Deed in a currency (“Payment Currency”) other than the currency in which it is expressed to be payable (“Contractual Currency”), the Owner may convert that payment into the Contractual Currency at the rate at which it (acting reasonably and in good faith) is able to purchase the Contractual Currency with the Payment Currency on or around the date of receipt of the payment and to the extent that the converted amount of the payment falls short of the amount due and payable the Guarantor will remain liable for such shortfall and such shortfall shall form part of the Guaranteed Obligations.
Currency Clauses. 14.1 All monies received or held by the Bank under this Agreement or any other Transaction Document may from time to time after Notice has been made by the Bank be converted into such other currency or currencies as the Bank considers necessary or desirable to cover all amounts and liabilities due and payable under this Agreement and the other Transaction Documents and such conversion shall be made in accordance with the Bank’s usual practice of converting the existing currency into the other currency or currencies.
14.2 If and to the extent that the Customer fails to pay any amount due and payable under this Agreement or any other Transaction Documents on Notice , the Bank may in its absolute discretion without notice to the Customer purchase at any time thereafter so much of any currency or currencies as the Bank considers necessary or desirable to cover the amount due and payable and such purchase will be in accordance with the Bank's usual practice of purchasing such other currency or currencies with the existing currency and the Customer hereby agrees to indemnify the Bank against the full cost incurred by the Bank in respect of any such purchase.
14.3 No payment to the Bank (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Customer in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent that the amount of any such payment shall on actual conversion into such currency fall short of such obligation or liability actual or contingent expressed in that currency the Bank shall have a further separate cause of action against the Customer and shall be entitled to enforce this Agreement to recover the amount of the shortfall.
14.4 If the Bank is required to convert a currency into another currency for the purpose of making any calculation or determination under this Agreement the Bank shall effect the conversion at the Bank’s applicable spot rate of exchange as determined by the Bank.
Currency Clauses. 20.1 All monies received or held by the Noteholder or by a Receiver under this Guarantee and Debenture may from time to time be converted into such other currency as the Noteholder or Receiver considers necessary or desirable to cover the Secured Obligations in that other currency at the market rate of exchange then offered to the Noteholder (as conclusively determined by the Noteholder) for purchasing that other currency with the existing currency.
20.2 If and to the extent that the Company fails to pay any amount due on demand or within any specified payment period following demand, the Noteholder may, in its absolute discretion, without notice to the Company, purchase at any time afterwards so much of any currency as the Noteholder considers necessary or desirable to cover the Secured Obligations in such currency at the then prevailing spot rate of exchange of [Barclays Bank PLC] (as conclusively determined by the Noteholder) for purchasing such currency with sterling or US dollars and the Company agrees to indemnify the Noteholder against the full sterling or US dollar cost (including all costs charges and expenses) paid.
20.3 No payment to the Noteholder (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Company in respect of which it was made unless and until the Noteholder shall have received payment in full in the currency in which such obligation or liability was incurred. To the extent that the amount of any such payment shall on actual conversion into such currency fall short of such obligation or liability expressed in that currency the Noteholder shall have a further separate cause of action against the Company and shall be entitled to enforce the charges created by this Guarantee and Debenture to recover the amount of the shortfall.
Currency Clauses. All moneys received or held by the Security Trustee under this Charge may from time to time after demand has been made by the Security Trustee be converted into such other currency as the Security Trustee considers necessary or desirable to cover the Secured Obligations and liabilities actual or contingent of the Chargor in that currency at the applicable rate of exchange of the Security Trustee (as conclusively determined by the Security Trustee) for purchasing that other currency with the existing currency.
Currency Clauses. A repayment of any amount due under any Document or a part thereof shall be made in the currency in which that amount is denominated on its due date.
Currency Clauses. 14.01 All moneys received or held by the Bank or by a Receiver under this Deed may from time to time be converted into such other currency as the Bank considers necessary or desirable to cover the obligations and liabilities actual or contingent of the Borrower in that other currency at the then prevailing spot rate of exchange for purchasing that other currency with the existing currency of the Bank (as conclusively determined by the Bank). For the purposes of this Deed, any amounts actually owing by the Borrower to the Bank in a foreign currency shall be converted into Singapore Dollars in accordance with the foregoing provisions of this Clause 14.01 on the date on which any floating charge is converted into a fixed charge pursuant to Clause 3.06.
14.02 If and to the extent that the Borrower fails to pay on demand any amount hereby secured due on demand the Bank may in its absolute discretion without notice to the Borrower purchase at any time thereafter so much of any other currency as the Bank considers necessary or desirable to cover the obligations and liabilities of the Borrower hereby secured in such currency at the then prevailing spot rate of exchange for purchasing that other currency with the existing currency of the Bank in Singapore (as conclusively determined by the Bank) and the Borrower hereby agrees to indemnify the Bank against the full cost (including all costs charges and expenses) incurred by the Bank for such purchase.
14.03 No payment to the Bank (whether under any judgment or court order or otherwise) shall discharge the obligation or liability actual or contingent of the Borrower in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligations or liability was incurred and to the extent that the amount of any such payment shall on actual conversion into such currency fall short of such obligation or liability actual or contingent expressed in that currency the Bank shall have a further separate cause of action against the Borrower and shall be entitled to enforce the charges hereby created and the assignment hereby effected to recover the amount of the shortfall.
