Common use of Currency Matters Clause in Contracts

Currency Matters. Dollars are the currency of account and payment for each and every sum at any time due from Obligors hereunder or under any other Loan Document unless otherwise specifically provided in this Agreement, any other Loan Document or otherwise agreed to by Agent; provided that: 5.11.1 each repayment of a Revolver Loan, LC Obligation or a part thereof shall be made in the currency in which such Revolver Loan or LC Obligation is denominated at the time of that repayment; 5.11.2 each payment of interest shall be made in the currency in which the principal or other sum in respect of which such interest is denominated; 5.11.3 (a) each payment of fees pursuant to Section 3.2.1(c) shall be in Dollars; (b) each payment of fees pursuant to Section 3.2.1 (a) shall be in Dollars or Canadian Dollars and (c) each payment of fees pursuant to Section 3.2.1 (b) shall be in Dollars or Sterling, which payment currency, in the case of clauses (b) and (c) above, shall be at the option of the relevant Borrower Group, and the amount of any such payment made in a currency other than Dollars determined by Agent based on the Spot Rate; 5.11.4 each payment of fees pursuant to Section 3.2.2 shall be in the currency of the underlying Letter of Credit; and 5.11.5 each payment in respect of Extraordinary Expenses and any other costs, expenses and indemnities shall be made in the currency in which the same were incurred by the party to whom payment is to be made. No payment to any Credit Party or any Security Trustee (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Obligor in respect of which it was made unless and until such Credit Party or such Security Trustee shall have received Full Payment in the currency in which such obligation or liability is payable pursuant to the above provisions of this Section 5.11. Agent has the right, at the expense of the applicable Obligor, to convert any payment made in an incorrect currency into the applicable currency required under this Agreement. To the extent that the amount of any such payment shall, on actual conversion into such currency, fall short of such obligation or liability actual or contingent expressed in that currency, such Obligor (together with the other Obligors within its Obligor Group or other obligors pursuant to any Guarantee of the Obligations of such Obligor Group) agrees to indemnify and hold harmless such Credit Party or such Security Trustee, with respect to the amount of the shortfall with respect to amounts payable by such Obligor hereunder, with such indemnity surviving the termination of this Agreement and any legal proceeding, judgment or court order pursuant to which the original payment was made which resulted in the shortfall. To the extent that the amount of any such payment to a Credit Party or a Security Trustee shall, upon an actual conversion into such currency, exceed such obligation or liability, actual or contingent, expressed in that currency, such Credit Party or such Security Trustee shall return such excess to the members of the affected Borrower Group.

Currency Matters. Dollars are the currency of account and payment for each and every sum at any time due from Obligors the Borrowers hereunder or under any other Loan Document unless otherwise specifically provided in this Agreement, any other Loan Document or otherwise agreed to by Agent; provided that:. 5.11.1 each Each repayment of a Revolver Loan, Loan or LC Obligation or a part thereof shall be made in the currency in which such Revolver Loan or LC Obligation is denominated at the time of that repayment; 5.11.2 each Each payment of interest shall be made in the currency in which the principal or other sum in respect of which such interest is denominated; 5.11.3 (a) each Each payment of fees by the U.S. Borrower pursuant to Section 3.2.1(c) 3.2 shall be in Dollars; (b) each ; 5.11.4 Each payment of fees by the Canadian Borrower pursuant to Section 3.2.1 (a) 3.2 shall be in Dollars or Canadian Dollars and (c) each Dollars; 5.11.5 Each payment of fees by the European Borrower pursuant to Section 3.2.1 (b) 3.2 shall be in Dollars or Sterling, which payment currency, in the case of clauses (b) and (c) above, shall be at the option of the relevant Borrower Group, and the amount of any such payment made in a currency other than Dollars determined by Agent based on the Spot RateDollars; 5.11.4 each payment of fees pursuant to Section 3.2.2 shall be in the currency of the underlying Letter of Credit; and 5.11.5 each 5.11.6 Each payment in respect of Extraordinary Expenses and any other costs, expenses and indemnities shall be made in the currency in which the same were incurred by the party to whom payment is to be made; 5.11.7 Any amount expressed to be payable in Canadian Dollars shall be paid in Canadian Dollars; and 5.11.8 Any amount expressed to be payable in Euros shall be paid in Euros. 5.11.9 Any amount expressed to be payable in Sterling shall be paid in Sterling. No payment to any Credit Secured Party or any Security Trustee (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Obligor Loan Party in respect of which it was made unless and until such Credit Secured Party or such Security Trustee shall have received Full Payment in the currency in which such obligation or liability is payable pursuant to the above provisions of this Section 5.11. Agent has the right, at the expense of the applicable Obligor, to convert any payment made in an incorrect currency into the applicable currency required under this Agreement. To the extent that the amount of any such payment shall, on actual conversion into such currency, fall short of such obligation or liability actual or contingent expressed in that currency, such Obligor Loan Party (together with the other Obligors Loan Parties within its Obligor Loan Party Group or other obligors pursuant to any Guarantee of the Obligations of such Obligor Loan Party Group) agrees to indemnify and hold harmless such Credit Party or such Security TrusteeSecured Party, with respect to the amount of the shortfall with respect to amounts payable by such Obligor Loan Party hereunder, with such indemnity surviving the termination of this Agreement and any legal proceeding, judgment or court order pursuant to which the original payment was made which resulted in the shortfall. To the extent that the amount of any such payment to a Credit Secured Party or a Security Trustee shall, upon an actual conversion into such currency, exceed such obligation or liability, actual or contingent, expressed in that currency, such Credit Secured Party or such Security Trustee shall return such excess to the members of the affected Borrower GroupLoan Party.

Currency Matters. Dollars are the currency of account and payment for each and every sum at any time due from Obligors Borrowers hereunder or under any other Loan Document unless otherwise specifically provided in this Agreement, any other Loan Document or otherwise agreed to by the Agent; provided that: 5.11.1 (a) each repayment of a Revolver Loan, LC Obligation or a part thereof shall be made in the currency in which such Revolver Loan or LC Obligation is denominated at the time of that repayment; 5.11.2 (b) each payment of interest shall be made in the currency in which the principal or other sum in respect of which such interest is denominated; 5.11.3 (ac) (i) each payment of fees pursuant to Section 3.2.1(c3.2.1(a) shall be in Dollars; (b) each payment of fees pursuant to Section 3.2.1 (a) shall be in Dollars or Canadian Dollars and (c) each payment of fees pursuant to Section 3.2.1 (b) shall be in Dollars , Euros or Sterling, as applicable, which payment currency, in the case of clauses (b) and (c) above, currency shall be at the option of the relevant Borrower GroupNorth American Loan Party Agent, and the amount of any such payment made in a currency other than Dollars determined by the Agent based on the Spot Exchange Rate; 5.11.4 , and (ii) each payment of fees pursuant to 3.2.1(b) shall be in Dollars; (d) each payment of fees pursuant to Sections 3.2.2 through 3.2.3 (other than Section 3.2.2 3.2.3(a)) shall be in the currency of the underlying Letter of Credit; and 5.11.5 (e) each payment in respect of Extraordinary Expenses and any other costs, expenses and indemnities shall be made in the currency in which the same were incurred by the party to whom payment is to be made. No payment to any Credit Party or any Security Trustee (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Obligor Loan Party in respect of which it was made unless and until such Credit Party or such Security Trustee shall have received Full Payment in the currency in which such obligation or liability is payable pursuant to the above provisions of this Section 5.11. The Agent has the right, at the expense of the applicable ObligorLoan Party, to convert any payment made in an incorrect currency into the applicable currency required under this Agreement. To the extent that the amount of any such payment shall, on actual conversion into such currency, fall short of such obligation or liability actual or contingent expressed in that currency, such Obligor Loan Party (together with the other Obligors Loan Parties within its Obligor Loan Party Group or other obligors pursuant to any Guarantee of the Obligations of such Obligor Loan Party Group) agrees to indemnify and hold harmless such Credit Party or such Security Trustee, with respect to the amount of the shortfall with respect to amounts payable by such Obligor Loan Party hereunder, with such indemnity surviving the termination of this Agreement and any legal proceeding, judgment or court order pursuant to which the original payment was made which resulted in the shortfall. To the extent that the amount of any such payment to a Credit Party or a Security Trustee shall, upon an actual conversion into such currency, exceed such obligation or liability, actual or contingent, expressed in that currency, such Credit Party or such Security Trustee shall return such excess to the members of the affected Borrower Group.

Currency Matters. Dollars are the currency of account and payment for each and every sum at any time due from Obligors Borrowers hereunder or under any other Loan Document unless otherwise specifically provided in this Agreement, any other Loan Document or otherwise agreed to by the Agent; provided that: 5.11.1 (a) each repayment of a Revolver Loan, LC Obligation or a part thereof shall be made in the currency in which such Revolver Loan or LC Obligation is denominated at the time of that repayment; 5.11.2 (b) each payment of interest shall be made in the currency in which the principal or other sum in respect of which such interest is denominated; 5.11.3 (ac) each payment of fees pursuant to Section 3.2.1(c) shall be in Dollars; (bi) each payment of fees pursuant to Section 3.2.1 (a) shall be in Dollars or Canadian Dollars and (c) each payment of fees pursuant to Section 3.2.1 (b) shall be in Dollars Dollars, Euros or Sterling, as applicable, which payment currency, in the case of clauses (b) and (c) above, currency shall be at the option of the relevant Borrower GroupNorth American Loan Party Agent, and the amount of any such payment made in a currency other than Dollars determined by the Agent based on the Spot Exchange Rate; 5.11.4 , and (ii) each payment of fees pursuant to 3.2.1 (b) shall be in Dollars; (d) each payment of fees pursuant to Sections 3.2.2 through 3.2.3 (other than Section 3.2.2 3.2.3(e)) shall be in the currency of the underlying Letter of Credit; and 5.11.5 (e) each payment in respect of Extraordinary Expenses and any other costs, expenses and indemnities shall be made in the currency in which the same were incurred by the party to whom payment is to be made. No payment to any Credit Party or any Security Trustee (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Obligor Loan Party in respect of which it was made unless and until such Credit Party or such Security Trustee shall have received Full Payment in the currency in which such obligation or liability is payable pursuant to the above provisions of this Section 5.11. The Agent has the right, at the expense of the applicable ObligorLoan Party, to convert any payment made in an incorrect currency into the applicable currency required under this Agreement. To the extent that the amount of any such payment shall, on actual conversion into such currency, fall short of such obligation or liability actual or contingent expressed in that currency, such Obligor Loan Party (together with the other Obligors Loan Parties within its Obligor Loan Party Group or other obligors pursuant to any Guarantee of the Obligations of such Obligor Loan Party Group) agrees to indemnify and hold harmless such Credit Party or such Security Trustee, with respect to the amount of the shortfall with respect to amounts payable by such Obligor Loan Party hereunder, with such indemnity surviving the termination of this Agreement and any legal proceeding, judgment or court order pursuant to which the original payment was made which resulted in the shortfall. To the extent that the amount of any such payment to a Credit Party or a Security Trustee shall, upon an actual conversion into such currency, exceed such obligation or liability, actual or contingent, expressed in that currency, such Credit Party or such Security Trustee shall return such excess to the members of the affected Borrower Group.

Currency Matters. Dollars are the currency of account and payment for each and every sum at any time due from Obligors the Borrowers hereunder or under any other Loan Document unless otherwise specifically provided in this Agreement, any other Loan Document or otherwise agreed to by Agent; provided that:. 5.11.1 each Each repayment of a Revolver Loan, Loan or LC Obligation or a part thereof shall be made in the currency in which such Revolver Loan or LC Obligation is denominated at the time of that repayment; 5.11.2 each Each payment of interest shall be made in the currency in which the principal or other sum in respect of which such interest is denominated; 5.11.3 (a) each Each payment of fees by the U.S. Borrower pursuant to Section 3.2.1(c) 3.2 shall be in Dollars; (b) each ; 5.11.4 Each payment of fees by the Canadian Borrower pursuant to Section 3.2.1 (a) 3.2 shall be in Dollars or Canadian Dollars and (c) each payment of fees pursuant to Section 3.2.1 (b) shall be in Dollars or Sterling, which payment currency, in the case of clauses (b) and (c) above, shall be at the option of the relevant Borrower Group, and the amount of any such payment made in a currency other than Dollars determined by Agent based on the Spot RateDollars; 5.11.4 each payment of fees pursuant to Section 3.2.2 shall be in the currency of the underlying Letter of Credit; and 5.11.5 each Each payment in respect of Extraordinary Expenses and any other costs, expenses and indemnities shall be made in the currency in which the same were incurred by the party to whom payment is to be made; 5.11.6 Any amount expressed to be payable in Canadian Dollars shall be paid in Canadian Dollars; and 5.11.7 Any amount expressed to be payable in Euros shall be paid in Euros. 5.11.8 Any amount expressed to be payable in Sterling shall be paid in Sterling. No payment to any Credit Secured Party or any Security Trustee (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Obligor Loan Party in respect of which it was made unless and until such Credit Secured Party or such Security Trustee shall have received Full Payment in the currency in which such obligation or liability is payable pursuant to the above provisions of this Section 5.11. Agent has the right, at the expense of the applicable Obligor, to convert any payment made in an incorrect currency into the applicable currency required under this Agreement. To the extent that the amount of any such payment shall, on actual conversion into such currency, fall short of such obligation or liability actual or contingent expressed in that currency, such Obligor Loan Party (together with the other Obligors Loan Parties within its Obligor Loan Party Group or other obligors pursuant to any Guarantee of the Obligations of such Obligor Loan Party Group) agrees to indemnify and hold harmless such Credit Party or such Security TrusteeSecured Party, with respect to the amount of the shortfall with respect to amounts payable by such Obligor Loan Party hereunder, with such indemnity surviving the termination of this Agreement and any legal proceeding, judgment or court order pursuant to which the original payment was made which resulted in the shortfall. To the extent that the amount of any such payment to a Credit Secured Party or a Security Trustee shall, upon an actual conversion into such currency, exceed such obligation or liability, actual or contingent, expressed in that currency, such Credit Secured Party or such Security Trustee shall return such excess to the members of the affected Borrower GroupLoan Party.

Currency Matters. Dollars are the currency of account and payment for each and every sum at any time due from Obligors Borrowers hereunder or under any other Loan Document unless otherwise specifically provided in this Agreement, any other Loan Document or otherwise agreed to by the Agent; provided that: 5.11.1 (a) each repayment of a Revolver Loan, LC Obligation or a part thereof shall be made in the currency in which such Revolver Loan or LC Obligation is denominated at the time of that repayment; 5.11.2 (b) each payment of interest shall be made in the currency in which the principal or other sum in respect of which such interest is denominated; 5.11.3 (ac) (i) each payment of fees pursuant to Section 3.2.1(c3.2.1(d) shall be in Dollars; (bii) each payment of fees pursuant to Section 3.2.1 (a3.2.1(a) shall be in Dollars or Canadian Dollars and Dollars; (ciii) each payment of fees pursuant to Section 3.2.1 3.2.1(b) shall be in Dollars or Singapore Dollars; and (biv) each payment of fees pursuant to 3.2.1(c) shall be in Dollars or Sterling, which payment currency, in the case of clauses (bii) and through (civ) above, shall be at the option of the Applicable Foreign Borrowers of the relevant Borrower Group, and the amount of any such payment made in a currency other than Dollars determined by the Agent based on the Spot Exchange Rate; 5.11.4 (d) each payment of fees pursuant to Sections 3.2.2 through 3.2.5 (other than Section 3.2.2 3.2.5(a) and as specified in Section 3.2.4(a)) shall be in the currency of the underlying Letter of Credit; and 5.11.5 (e) each payment in respect of Extraordinary Expenses and any other costs, expenses and indemnities shall be made in the currency in which the same were incurred by the party to whom payment is to be made. No payment to any Credit Party or any Security Trustee (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Obligor Loan Party in respect of which it was made unless and until such Credit Party or such Security Trustee shall have received Full Payment in the currency in which such obligation or liability is payable pursuant to the above provisions of this Section 5.11. The Agent has the right, at the expense of the applicable ObligorLoan Party, to convert any payment made in an incorrect currency into the applicable currency required under this Agreement. To the extent that the amount of any such payment shall, on actual conversion into such currency, fall short of such obligation or liability actual or contingent expressed in that currency, such Obligor Loan Party (together with the other Obligors Loan Parties within its Obligor Loan Party Group or other obligors pursuant to any Guarantee of the Obligations of such Obligor Loan Party Group) agrees to indemnify and hold harmless such Credit Party or such Security Trustee, with respect to the amount of the shortfall with respect to amounts payable by such Obligor Loan Party hereunder, with such indemnity surviving the termination of this Agreement and any legal proceeding, judgment or court order pursuant to which the original payment was made which resulted in the shortfall. To the extent that the amount of any such payment to a Credit Party or a Security Trustee shall, upon an actual conversion into such currency, exceed such obligation or liability, actual or contingent, expressed in that currency, such Credit Party or such Security Trustee shall return such excess to the members of the affected Borrower Group.