Common use of Currency Equivalents Generally; Additional Alternative Currencies Clause in Contracts

Currency Equivalents Generally; Additional Alternative Currencies. (a) Any amount specified in this Agreement (other than in Articles II, IX and X) or any of the other Loan Documents to be in Dollars shall also include the equivalent of such amount in any currency other than Dollars, such equivalent amount to be determined at the rate of exchange quoted by Credit Suisse at the close of business on the Business Day immediately preceding any date of determination thereof, to prime banks in New York, New York for the spot purchase in the New York foreign exchange market of such amount in Dollars with such other currency. (b) The Administrative Agent or an L/C Issuer, as applicable, shall determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent amounts of Credit Extensions and Outstanding Amounts denominated in Euros, Sterling or any Alternative Currency. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered by Loan Parties hereunder or calculating financial ratios hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar equivalent amount as so determined by the Administrative Agent or the applicable L/C Issuer, as applicable (on the basis of the Spot Rate as of the applicable Revaluation Date). Wherever in this Agreement in connection with a Borrowing, conversion, continuation or payment of a Eurocurrency Rate Loan or the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Eurocurrency Rate Loan or Letter of Credit is denominated in Euros, Sterling or an Alternative Currency, such amount shall be the relevant Currency Equivalent of such Dollar amount (rounded to the nearest unit of Euros, Sterling or such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the Administrative Agent or the applicable L/C Issuer, as the case may be. (c) The Borrower may from time to time request that Eurocurrency Rate Revolving Credit Loans be made and Letters of Credit be issued in a currency other than Dollars, Euros, Sterling and those currencies specifically listed in clause (a) of the definition of “Alternative Currency”; provided that such requested currency is a lawful currency that is readily available and freely transferable and convertible into Dollars. Each such request shall be subject to the approval of the Administrative Agent, the Revolving Credit Lenders and the applicable L/C Issuer. (d) Any such request shall be made to the Administrative Agent and, with respect to Letters of Credit, the applicable L/C Issuer not later than 11:00 a.m. (New York Time) twelve (12) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). The Administrative Agent shall promptly notify each Revolving Credit Lender of such request. Each Revolving Credit Lender and the applicable L/C Issuer shall notify the Administrative Agent, not later than 11:00 a.m. (New York Time) seven (7) Business Days after receipt of such request (or such other date and time as the Administrative Agent may determine in a particular instance in its sole discretion) whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (e) Any failure by a Revolving Credit Lender or the applicable L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Credit Lender or such L/C Issuer, as the case may be, to permit Eurocurrency Rate Revolving Credit Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders consent to making Eurocurrency Rate Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowings of Eurocurrency Rate Revolving Credit Loans; and if the Administrative Agent and the applicable L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issued by such L/C Issuer. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.08, the Administrative Agent shall promptly so notify the Borrower. Any specified currency of an Existing Letter of Credit that is neither Dollars nor one of the Alternative Currencies shall be deemed an Alternative Currency with respect to such Existing Letter of Credit only. (f) For the avoidance of doubt, in the case of a Revolving Credit Loan denominated in Euro, Sterling or an Alternative Currency, except as expressly provided herein, (i) all interest and fees shall accrue and be payable thereon based on the actual amount outstanding in Euro, Sterling or such Alternative Currency (without any translation into the Dollar Equivalent thereof), (ii) all interest shall be payable in Euro, Sterling or such Alternative Currency, as applicable and (iii) all fees shall be payable in Dollars.

Currency Equivalents Generally; Additional Alternative Currencies. (a) Any amount specified in this Agreement (other than in Articles II‎II, IX ‎IX and X‎X) or any of the other Loan Documents to be in Dollars shall also include the equivalent of such amount in any currency other than Dollars, such equivalent amount to be determined at the rate of exchange quoted by Credit Suisse at the close of business on the Business Day immediately preceding any date of determination thereof, to prime banks in New York, New York for the spot purchase in the New York foreign exchange market of such amount in Dollars with such other currency. (b) The Administrative Agent or an L/C Issuer, as applicable, shall determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent amounts of Credit Extensions and Outstanding Amounts denominated in Euros, Sterling or any Alternative Currency. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered by Loan Parties hereunder or calculating financial ratios hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar equivalent amount as so determined by the Administrative Agent or the applicable L/C Issuer, as applicable (on the basis of the Spot Rate as of the applicable Revaluation Date). Wherever in this Agreement in connection with a Borrowing, conversion, continuation or payment of a Eurocurrency Rate Loan or the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Eurocurrency Rate Loan or Letter of Credit is denominated in Euros, Sterling or an Alternative Currency, such amount shall be the relevant Currency Equivalent of such Dollar amount (rounded to the nearest unit of Euros, Sterling or such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the Administrative Agent or the applicable L/C Issuer, as the case may be. (c) The Borrower may from time to time request that Eurocurrency Rate Revolving Credit Loans be made and Letters of Credit be issued in a currency other than Dollars, Euros, Sterling and those currencies specifically listed in clause (a) of the definition of “Alternative Currency”; provided that such requested currency is a lawful currency that is readily available and freely transferable and convertible into Dollars. Each such request shall be subject to the approval of the Administrative Agent, the Revolving Credit Lenders and the applicable L/C Issuer. (d) Any such request shall be made to the Administrative Agent and, with respect to Letters of Credit, the applicable L/C Issuer not later than 11:00 a.m. (New York Time) twelve (12) Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable L/C Issuer, in its or their sole discretion). The Administrative Agent shall promptly notify each Revolving Credit Lender of such request. Each Revolving Credit Lender and the applicable L/C Issuer shall notify the Administrative Agent, not later than 11:00 a.m. (New York Time) seven (7) Business Days after receipt of such request (or such other date and time as the Administrative Agent may determine in a particular instance in its sole discretion) whether it consents, in its sole discretion, to the making of Eurocurrency Rate Revolving Credit Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (e) Any failure by a Revolving Credit Lender or the applicable L/C Issuer, as the case may be, to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Revolving Credit Lender or such L/C Issuer, as the case may be, to permit Eurocurrency Rate Revolving Credit Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Revolving Credit Lenders consent to making Eurocurrency Rate Revolving Credit Loans in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowings of Eurocurrency Rate Revolving Credit Loans; and if the Administrative Agent and the applicable L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issued by such L/C Issuer. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.08‎1.08, the Administrative Agent shall promptly so notify the Borrower. Any specified currency of an Existing Letter of Credit that is neither Dollars nor one of the Alternative Currencies shall be deemed an Alternative Currency with respect to such Existing Letter of Credit only. (f) For the avoidance of doubt, in the case of a Revolving Credit Loan denominated in Euro, Sterling or an Alternative Currency, except as expressly provided herein, (i) all interest and fees shall accrue and be payable thereon based on the actual amount outstanding in Euro, Sterling or such Alternative Currency (without any translation into the Dollar Equivalent thereof), (ii) all interest shall be payable in Euro, Sterling or such Alternative Currency, as applicable and (iii) all fees shall be payable in Dollars.