Common use of Currency Correction Clause in Contracts

Currency Correction. Where at any time the Loan or an Advance is outstanding in one or more Optional Currencies and the Bank by notice given to the Borrower pursuant to clause 17 (a “Currency Correction Notice”) certifies to the Borrower (which Currency Correction Notice shall in the absence of manifest error be conclusive and binding on the Borrower) that the Equivalent Amount in Dollars of the Loan then outstanding (less any amount standing to the credit of the Multicurrency Cash Collateral Account) exceeds by ten per cent (10%) or more (the “excess amount”), the Dollar Amount on the date of such Currency Correction Notice, the Borrower shall, within five (5) Banking Days from the date of such Currency Correction Notice, pay to the Multicurrency Cash Collateral Account, an additional (to any amount already standing to the credit of the Multicurrency Cash Collateral Account before such deposit being made) amount in Dollars equal to the excess amount.

Currency Correction. Where at any time the Loan or an Advance part thereof is outstanding in one or more Optional Currencies and/or Dollars and the Bank by notice given to the Borrower pursuant to clause 17 (a “Currency Correction Notice”) certifies to the Borrower (which Currency Correction Notice shall in the absence of manifest error be conclusive and binding on the Borrower) that the Equivalent Amount in Dollars of the Loan then outstanding (less any amount standing to the credit of the Multicurrency Cash Collateral Account) exceeds by ten per cent (10%) or more (the “excess amount”), the Dollar Amount on the date of such Currency Correction Notice, the Borrower shall, within five (5) Banking Days from the date of such Currency Correction Notice, pay to the Multicurrency Cash Collateral Account, an additional (Account such amount in Dollars as shall be necessary to any amount already ensure that the minimum balance standing to the credit of the Multicurrency Cash Collateral Account before following such deposit being made) amount in Dollars made is equal to the excess amount.

Currency Correction. Where at any time the Loan or an Advance part thereof is outstanding in one or more Optional Currencies and/or Dollars and the Bank by notice given to the Borrower pursuant to clause 17 (a “‘‘Currency Correction Notice”) certifies to the Borrower (which Currency Correction Notice shall in the absence of manifest error be conclusive and binding on the Borrower) that the Equivalent Amount in Dollars of the Loan then outstanding (less any amount standing to the credit of the Multicurrency Cash Collateral Account) exceeds by ten per cent (10%) or more (the “excess amount”), the Dollar Amount on the date of such Currency Correction Notice, the Borrower shall, within five (5) Banking Days from the date of such Currency Correction Notice, pay to the Multicurrency Cash Collateral Account, an additional (Account such amount in Dollars as shall be necessary to any amount already ensure that the minimum balance standing to the credit of the Multicurrency Cash Collateral Account before following such deposit being made) amount in Dollars made is equal to the excess amount.