Currency Conversion. (a) For the purpose of, or pending any payment to be made by any Servicing Party under any Finance Document, such Servicing Party may convert any moneys received or recovered by it from one currency to another, at a market rate of exchange. (b) The obligations of any Transaction Obligor to pay in the due currency shall only be satisfied to the extent of the amount of the due currency purchased after deducting the costs of conversion.
Appears in 16 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Currency Conversion. (a) For the purpose of, or pending any payment to be made by any Servicing Party under any Finance Document, such Servicing Party may convert any moneys received or recovered by it from one currency to another, at a market rate of exchange.
(b) The obligations of any Transaction Obligor to pay in the due currency shall only be satisfied to the extent of the amount of the due currency purchased after deducting the costs of conversion.
Appears in 13 contracts
Samples: Term and Accordion Facilities Agreement (Ardmore Shipping Corp), Loan Agreement (Ardmore Shipping Corp), Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp)
Currency Conversion. (a) For the purpose of, or pending any payment to be made by any Servicing Party under any Finance Document, such Servicing Party may convert any moneys received or recovered by it from one currency to another, at a market rate of exchangeexchange available to that Servicing Party in its usual course of business.
(b) The obligations of any Transaction Obligor to pay in the due currency shall only be satisfied to the extent of the amount of the due currency purchased after deducting the costs of conversion.
Appears in 5 contracts
Samples: Term Loan Facility (United Maritime Corp), Facility Agreement (United Maritime Corp), Facility Agreement (United Maritime Corp)
Currency Conversion. (a) For the purpose of, or pending any payment to be made by any Servicing Party under any Finance Document, such Servicing Party may convert any moneys received or recovered by it from one currency to another, at a market rate of exchange.
(b) The obligations of any Transaction Obligor to pay in the due currency shall only be satisfied to the extent of the amount of the due currency purchased after deducting the costs of conversion.
Appears in 4 contracts
Samples: Term Loan Facility (Okeanis Eco Tankers Corp.), Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Taylor Maritime Investments LTD)
Currency Conversion. (a) For the purpose of, or pending any payment to be made by any Servicing Party the Facility Agent or Security Trustee under any Finance Loan Document, such Servicing Party may convert any moneys received or recovered by it from one currency to another, at a market rate of exchangeexchange available to that Party in its usual course of business.
(b) The obligations of any Transaction Obligor to pay in the due currency shall only be satisfied to the extent of the amount of the due currency purchased after deducting the costs of conversion.
Appears in 2 contracts
Samples: Credit Agreement (SEACOR Marine Holdings Inc.), Credit Agreement (SEACOR Marine Holdings Inc.)
Currency Conversion. To the extent applicable and subject to Clause 30.31 (Currency conversion):
(a) For for the purpose of, or pending any payment to be made by any Servicing Party under any Finance Document, such Servicing Party may convert any moneys received or recovered by it from one currency to another, at a market rate of exchange.; and
(b) The the obligations of any Transaction Obligor to pay in the due currency shall only be satisfied to the extent of the amount of the due currency purchased after deducting the costs of conversion.
Appears in 1 contract
Samples: Facility Agreement (Euroseas Ltd.)
