Common use of Currency Fluctuations, etc Clause in Contracts

Currency Fluctuations, etc. (a) Not later than 1:00 p.m., New York City time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to each Local Currency covered by a Local Currency Addendum and (ii) give notice thereof to the Lenders, the Company and the relevant Borrowing Subsidiaries. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "Reset Date") and shall remain effective until the next succeeding Reset Date.

Currency Fluctuations, etc. (a) Not No later than 1:00 2:00 p.m., New York City time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to each Local Currency covered by a Local Currency Addendum Facility and (ii) give notice thereof to the Lenders, the Company IBM and the relevant Borrowing SubsidiariesBorrowers. The Except as otherwise provided in Section 3.3, the Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "“Reset Date"”) and shall remain effective until the next succeeding Reset Date.

Currency Fluctuations, etc. (a) Not No later than 1:00 p.m.2:00 P.M., New York City time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to each Local Currency covered by a Local Currency Addendum Facility and (ii) give notice thereof to the Lenders, the Company IBM and the relevant Borrowing SubsidiariesBorrowers. The Except as otherwise provided in Section 3.3, the Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "“Reset Date"”) and shall remain effective until the next succeeding Reset Date.

Currency Fluctuations, etc. (a) Not later than 1:00 p.m., New York City time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to each Local Currency covered by a Local Currency Addendum and (ii) give notice thereof to the Lenders, the Company each relevant Borrower and the relevant Borrowing SubsidiariesCompany. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "“Reset Date"”) and shall remain effective until the next succeeding Reset Date.

Currency Fluctuations, etc. (a) Not later than 1:00 p.m., New York City time, on each Calculation Date, the Administrative Paying Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to (x) each Local Currency covered by a Local Currency Addendum Multicurrency in which then outstanding Loans or Letters of Credit are denominated and (ii) give notice thereof to the Lenders, the Company Lenders and the relevant Borrowing SubsidiariesBorrower. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "“Reset Date"”) and shall remain effective until the next succeeding Reset Date.

Currency Fluctuations, etc. (a) Not No later than 1:00 p.m.2:00 P.M., New York City time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to each Local Currency covered by a Local Currency Addendum Facility and (ii) give notice thereof to the Lenders, the Company IBM and the relevant Borrowing SubsidiariesBorrowers. The Except as otherwise provided in Section 3.3, the Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "Reset Date") and shall remain effective until the next succeeding Reset Date.