Currency Conversion. If any amount is received or recovered by the Collateral Agent in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral Agent, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 16 contracts
Samples: Term Loan Security Agreement (AerCap Holdings N.V.), Term Loan Credit Agreement, Term Loan Security Agreement
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Servicer or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture and any Series Supplement or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Servicer or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Servicer or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Servicer or the Secured Parties Indenture Trustee such amount as it the Administrator, Servicer or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Servicer or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Administrator and the Servicer may convert any moneys received, recovered or realized by the Administrator or the Servicer, as the case may be, under this Master Indenture and any Series Supplement (including the proceeds of any previous conversion under this Section 13.06) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Indenture Trustee’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Administrator or the Servicer, as the case may be, acting on behalf of the Indenture Trustee, shall promptly convert any moneys in such Received Currency other than Dollars into Dollars. Each previous reference in this Section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 6 contracts
Samples: Master Indenture (Trinity Industries Inc), Master Indenture (Trinity Industries Inc), Master Indenture (Trinity Industries Inc)
Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) Currency other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall shall, to the fullest extent permitted by Applicable Law, only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 5 contracts
Samples: Security Trust Agreement (Willis Lease Finance Corp), Security Trust Agreement (Willis Lease Finance Corp), Security Trust Agreement (Willis Lease Finance Corp)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent or the Facility Agent in respect of this Intercreditor Agreement or any part thereof (whether as a result of the enforcement of the security created under the Security Agreement or pursuant to this Intercreditor Agreement or any judgment or order of any court or in the liquidation or dissolution of the Borrower or by way of damages for any breach of any obligation to make any payment under or in respect of the Borrower’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Facility Agent or the Collateral AgentAgent shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Borrower to the extent of the amount of the Agreed Currency which the Collateral Agent or the Facility Agent was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent or Facility Agent is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorBorrower, such Grantor the Borrower shall pay to the Collateral Agent for the benefit of the Secured Parties such amount as it the Collateral Agent shall determine to be necessary to indemnify the Collateral Facility Agent and the Secured Parties Collateral Agent against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Borrower distinct from its obligation to discharge the amount which was originally payable by such Grantor the Borrower and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent or the Facility Agent and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Borrower or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured either the Facility Agent or the Collateral Agent may convert any moneys received, recovered or realized by the Collateral Agent under this Intercreditor Agreement (including the proceeds of any previous conversion under this Section 8.07) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Facility Agent’s or the Collateral Agent’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Collateral Agent shall promptly convert any moneys in such Received Currency other than U.S. dollars into U.S. dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 4 contracts
Samples: Intercreditor Agreement (Aircastle LTD), Intercreditor Agreement (Aircastle LTD), Intercreditor Agreement (Aircastle LTD)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee or the Cash Manager shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent Trustee and the Secured Parties Cash Manager against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Cash Manager may, or cause the Operating Bank to, convert any moneys received, recovered or realized by the Cash Manager under this Indenture (including the proceeds of any previous conversion under this Section 12.07) or any funds currently maintained in any account hereunder from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Trustee’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Cash Manager, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than U.S. dollars into U.S. dollars. Each previous reference in this Section 12.07 to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency. The cost and expense of any such conversion shall be added to and reflected in the rate obtained for conversion and in no event shall the Cash Manager or any of its affiliates be liable in respect of the exchange rate obtained for any such conversion or any related cost or expense.
Appears in 4 contracts
Samples: Trust Indenture (Avolon Holdings LTD), Trust Indenture (Genesis Lease LTD), Trust Indenture (AerCap Holdings N.V.)
Currency Conversion. If any amount is received or recovered by the Collateral Agent any Security Trustee in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral Agentsuch Security Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent such Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent such Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent such Security Trustee for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent such Security Trustee and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent such Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 3 contracts
Samples: Term Loan Credit Agreement (International Lease Finance Corp), Credit Agreement (International Lease Finance Corp), Credit Agreement (International Lease Finance Corp)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Manager or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of the relevant Grantor to Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor Issuer shall pay to the Collateral Agent for Administrator, the benefit of Manager or the Secured Parties Indenture Trustee such amount as it the Administrator, Manager or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Manager or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Administrator and the Manager may convert any moneys received, recovered or realized by the Administrator or the Manager, as the case may be, under this Master Indenture (including the proceeds of any previous conversion under this Section 13.06) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Indenture Trustee’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Administrator or the Manager, as the case may be, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than Dollars into Dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 2 contracts
Samples: Master Indenture (Trinity Industries Inc), Master Indenture (Trinity Industries Inc)
Currency Conversion. If any amount payable by the Issuer under this Agreement is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable under this Agreement (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent Security Trustee for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent Security Trustee and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 2 contracts
Samples: Aircraft Mortgage and Security Agreement (General Electric Capital Corp), Aircraft Mortgage and Security Agreement (General Electric Capital Corp)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee or the Cash Manager shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent Trustee and the Secured Parties Cash Manager against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Cash Manager may convert any moneys received, recovered or realized by the Cash Manager under this Indenture (including the proceeds of any previous conversion under this Section 13.07) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Trustee’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Cash Manager, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than U.S. dollars into U.S. dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 2 contracts
Samples: Trust Indenture (Aircastle LTD), Trust Indenture (Aircastle LTD)
Currency Conversion. If any amount is received or recovered by the Collateral Agent Administrator, the Manager or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture and any Series Supplement or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Manager or the Secured Parties Indenture Trustee such amount as it the Administrator, Manager or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Manager or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 2 contracts
Samples: Master Indenture (Trinity Industries Inc), Master Indenture (Trinity Industries Inc)
Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in respect of this Agreement or any part thereof in a currency (the “"Received Currency”") other than the currency in which such amount was expressed to be payable (the “"Agreed Currency”"), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 2 contracts
Samples: Security Trust Agreement (Aerco LTD), Security Trust Agreement (Morgan Stanley Aircraft Finance)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Manager or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture and any Series Supplement or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Manager or the Secured Parties Indenture Trustee such amount as it the Administrator, Manager or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Manager or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Administrator and the Manager may convert any moneys received, recovered or realized by the Administrator or the Manager, as the case may be, under this Master Indenture and any Series Supplement (including the proceeds of any previous conversion under this Section 13.06) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Indenture Trustee’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Administrator or the Manager, as the case may be, acting on behalf of the Indenture Trustee, shall promptly convert any moneys in such Received Currency other than Dollars into Dollars. Each previous reference in this Section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 2 contracts
Samples: Master Indenture (Trinity Industries Inc), Master Indenture (Trinity Industries Inc)
Currency Conversion. If any amount is received or recovered by the Collateral Agent in a currency (the “"Received Currency”") other than the currency in which such amount was expressed to be payable (the “"Agreed Currency”"), then the amount in the Received Currency actually received or recovered by the Collateral Agent, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 1 contract
Samples: Aircraft Mortgage and Security Agreement (Fly Leasing LTD)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Manager or the Indenture Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under this Indenture or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the ““ Received CurrencyCurrency ”) other than the currency in which such amount was expressed to be payable (the ““ Agreed CurrencyCurrency ”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Manager or the Secured Parties Indenture Trustee such amount as it the Administrator, Manager or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Manager or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Administrator and the Manager may convert any moneys received, recovered or realized by the Administrator or the Manager, as the case may be, under this Indenture (including the proceeds of any previous conversion under this Section 13.06) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Indenture Trustee’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Administrator or the Manager, as the case may be, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than Dollars into Dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 1 contract
Samples: Indenture (Trinity Industries Inc)
Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “"Received Currency”") other than the currency in which such amount was expressed to be payable (the “"Agreed Currency”"), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the 34 39 amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 1 contract
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the “"Received Currency”") other than the currency in which such amount was expressed to be payable (the “"Agreed Currency”"), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which 129 122 was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Cash Manager may convert any moneys received, recovered or realized by the Cash Manager under this Indenture (including the proceeds of any previous conversion under this Section 13.07) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Trustee's then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Cash Manager, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than U.S. dollars into U.S. dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 1 contract
Samples: Indenture (Aerco LTD)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Manager or the Indenture Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under this Indenture or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Manager or the Secured Parties Indenture Trustee such amount as it the Administrator, Manager or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Manager or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Administrator and the Manager may convert any moneys received, recovered or realized by the Administrator or the Manager, as the case may be, under this Indenture (including the proceeds of any previous conversion under this Section 13.06) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Indenture Trustee’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Administrator or the Manager, as the case may be, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than Dollars into Dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 1 contract
Samples: Indenture (Trinity Industries Inc)
Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent Security Trustee for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent Security Trustee and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 1 contract
Samples: Aircraft Mortgage and Security Agreement (International Lease Finance Corp)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Administrative Agent or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the “"Received Currency”") other than the currency in which such amount was expressed to be payable (the “"Agreed Currency”"), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Administrative Agent or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Administrative Agent or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Administrative Agent for the benefit of the Secured Parties such amount as it the Administrative Agent shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the 121 Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Administrative Agent or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Administrative Agent may convert any moneys received, recovered or realized by the Administrative Agent under this Indenture (including the proceeds of any previous conversion under this Section 13.07) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Trustee's then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Administrative Agent, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than U.S. dollars into U.S. dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 1 contract
Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 1 contract
Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such the Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each the Grantor distinct from its obligation to discharge the amount which was originally payable by such the Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any the Grantor or any judgment or order and no proof or evidence of any actual loss shall be requiredorder.
Appears in 1 contract
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Manager or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the ““ Received CurrencyCurrency ”) other than the currency in which such amount was expressed to be payable (the ““ Agreed CurrencyCurrency ”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of the relevant Grantor to Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor Issuer shall pay to the Collateral Agent for Administrator, the benefit of Manager or the Secured Parties Indenture Trustee such amount as it the Administrator, Manager or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Manager or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Administrator and the Manager may convert any moneys received, recovered or realized by the Administrator or the Manager, as the case may be, under this Master Indenture (including the proceeds of any previous conversion under this Section 13.06) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Indenture Trustee’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Administrator or the Manager, as the case may be, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than Dollars into Dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 1 contract
Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “"Received Currency”") other than the currency in which such amount was expressed to be payable (the “"Agreed Currency”"), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 1 contract
Samples: Security Trust Agreement (Lease Investment Flight Trust)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the “"Received Currency”") other than the currency in which such amount was expressed to be payable (the “"Agreed Currency”"), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee or the Cash Manager shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent Trustee and the Secured Parties Cash Manager against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent 155 permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Cash Manager may convert any moneys received, recovered or realized by the Cash Manager under this Indenture (including the proceeds of any previous conversion under this Section 13.07) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Trustee's then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Cash Manager, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than U.S. dollars into U.S. dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 1 contract
Samples: Trust Indenture (Aircastle LTD)
Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) Currency other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall shall, to the fullest extent permitted by Applicable Law, only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 1 contract
Samples: Security Trust Agreement (Willis Lease Finance Corp)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Manager or the Indenture Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under this Indenture or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Manager or the Secured Parties Indenture Trustee such amount as it the Administrator, Manager or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Manager or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Administrator and the Manager may convert any moneys received, recovered or realized by the Administrator or the Manager, as the case may be, under this Indenture (including the proceeds of any previous conversion under this Section 13.06) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Indenture Trustee’s then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Administrator or the Manager, as the case may be, acting on behalf of the Indenture Trustee, shall promptly convert any moneys in such Received Currency other than Dollars into Dollars. Each previous reference in this Section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 1 contract
Samples: Indenture (Trinity Industries Inc)
Currency Conversion. If any amount is received or recovered by the Collateral Agent in a currency (the “Received Currency”“) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”“), then the amount in the Received Currency actually received or recovered by the Collateral Agent, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 1 contract
Samples: Term Loan Aircraft Mortgage and Security Agreement (International Lease Finance Corp)
Currency Conversion. If (a) For the purpose of the payment or recovery of any amount is Obligation, the Lender may convert any monies received, recovered or realized (whether same be received, recovered or realized as a result of a court judgment or order or otherwise) from their existing currency of denomination into Dollars and any such conversion as the Lender may obtain from any bank’s then-prevailing spot selling rate of exchange at such office as such bank deems appropriate for such other currency against Dollars.
(b) Any sum received or recovered by the Collateral Agent Lender on account of any such payment in a any currency (the “Received Currency”) other than the currency Dollars (whether as a result of legal proceedings in which any foreign country or other steps taken to enforce such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received payment or recovered by the Collateral Agent, to the extent permitted by law, otherwise) shall only constitute a discharge of the relevant Grantor Borrower only to the extent of the amount of Dollars (net of commission and other expenses of purchase) with the Agreed Currency which the Collateral Agent was non-Dollar sum so received or would have been able in accordance with its or his normal procedures to purchase recovered at such spot rate on the date of actual such receipt or recovery (or, if that it is not practicablepracticable to make such a purchase on that date, on the next first date thereafter on which it is so practicablepracticable to do so), and, if .
(c) If the amount of Dollars so purchased (net as aforesaid) shall fall short of the Agreed Currency amount denominated in Dollars which is payable by or recoverable from the Collateral Agent is or would have been so able to purchase is less than Borrower, the Borrower shall and does hereby indemnify and hold harmless the Lender in Dollars against the amount of the Agreed Currency which was originally payable by the relevant Grantorsuch shortfall, and until paid such Grantor amount shall pay bear interest at a rate per annum equal at all times to the Collateral Agent for the benefit of the Secured Parties such amount as it Past Due Rate, which interest shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties against any loss sustained payable on demand.
(d) The indemnity afforded by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewithSection 8.13(c) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and obligation independent obligation of each Grantor distinct from its the obligation to discharge make the amount which was originally payable by such Grantor and (ii) payment referred to in Section 8.13(b), shall give rise to a separate and an independent cause of action and action, shall apply irrespective of any indulgence granted by the Collateral Agent Lender and shall continue in full force and effect notwithstanding and despite any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor other monies under any Loan Document or any judgment or order and no order. No proof or of evidence of any actual loss shall be requiredrequired to be produced by the Lender in connection with such indemnity.
Appears in 1 contract
Samples: Loan Facility Agreement (Stephen L. Way International LLC)
Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the “"Received Currency”") other than the currency in which such amount was expressed to be payable (the “"Agreed Currency”"), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee or the Cash Manager shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent Trustee and the Secured Parties Cash Manager against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of 152 the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.
(b) For the purpose of or pending the discharge of any of the moneys and liabilities hereby secured the Cash Manager may convert any moneys received, recovered or realized by the Cash Manager under this Indenture (including the proceeds of any previous conversion under this Section 13.07) from their existing currency of denomination into the currency of denomination (if different) of such moneys and liabilities and any conversion from one currency to another for the purposes of any of the foregoing shall be made at the Trustee's then prevailing spot selling rate at its office by which such conversion is made. If not otherwise required to be applied in the Received Currency, the Cash Manager, acting on behalf of the Security Trustee, shall promptly convert any moneys in such Received Currency other than U.S. dollars into U.S. dollars. Each previous reference in this section to a currency extends to funds of that currency and funds of one currency may be converted into different funds of the same currency.
Appears in 1 contract
Samples: Trust Indenture (Aircastle LTD)
Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “‘‘Received Currency”’’) other than the currency in which such amount was expressed to be payable (the “‘‘Agreed Currency”’’), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.
Appears in 1 contract