Common use of Currency of Account and Payment Clause in Contracts

Currency of Account and Payment. 12.1 Sterling is the currency of account and payment for each and every sum at any time due from any person hereunder and under the Future Receivables Transfer PROVIDED, HOWEVER, that: 12.1.1 each payment in respect of costs and expenses shall be made in the currency in which the same were incurred; and 12.1.2 each payment which is expressed herein to be payable in another currency shall be made in that other currency. 12.2 If any sum due from a person (a "RELEVANT PERSON") under this Agreement or the Future Receivables Transfer or any order or judgment given or made in relation to this Agreement or the Future Receivables Transfer has to be converted from the currency (the "FIRST CURRENCY") in which the same is payable hereunder or under the Future Receivables Transfer or under such order or judgment into another currency (the "SECOND CURRENCY") for the purpose of (i) making or filing a claim or proof against the relevant person, (ii) obtaining an order or judgment in any court or other tribunal or (iii) enforcing any order or judgment given or made in relation to this Agreement or the Future Receivables Transfer, the relevant person shall indemnify and hold harmless the person to whom such sum is due from and against any loss suffered as a result of any discrepancy between (a) the rate of exchange used for such purpose to convert the sum in question from the first currency into the second currency and (b) the rate or rates of exchange at which such person may in the ordinary course of business purchase the first currency with the second currency upon receipt of a sum paid to it in satisfaction, in whole or in part, of any such order, judgment, claim or proof. 12.3 All payments made by any person hereunder or under the Future Receivables Transfer shall be made free and clear of and without any deduction for or on account of any set-off or counterclaim unless otherwise agreed in writing by the Transferor and the Receivables Trustee or, as the case may be, such Additional Transferor and the Receivables Trustee.

Currency of Account and Payment. 12.1 Sterling is the currency of account and payment for each and every sum at any time due from any person hereunder and under the Future Receivables Transfer PROVIDEDProvided, HOWEVERhowever, that: 12.1.1 each payment in respect of costs and expenses shall be made in the currency in which the same were incurred; and 12.1.2 each payment which is expressed herein to be payable in another currency shall be made in that other currency. 12.2 If any sum due from a person (a "RELEVANT PERSONrelevant person") under this Agreement or the Future Receivables Transfer or any order or judgment given or made in relation to this Agreement or the Future Receivables Transfer hereto has to be converted from the currency (the "FIRST CURRENCYfirst currency") in which the same is payable hereunder or under the Future Receivables Transfer or under such order or judgment into another currency (the "SECOND CURRENCYsecond currency") for the purpose of (i) making or filing a claim or proof against the relevant person, (ii) obtaining an order or judgment in any court or other tribunal or (iii) enforcing any order or judgment given or made in relation to this Agreement or the Future Receivables Transferhereto, the relevant person shall indemnify and hold harmless the person to whom such sum is due from and against any loss suffered as a result of any discrepancy between (a) the rate of exchange used for such purpose to convert the sum in question from the first currency into the second currency and (b) the rate or rates of exchange at which such person may in the ordinary course of business purchase the first currency with the second currency upon receipt of a sum paid to it in satisfaction, in whole or in part, of any such order, judgment, claim or proof. 12.3 All payments made by any person hereunder or under the Future Receivables Transfer shall be made free and clear of and without any deduction for or on account of any set-off or counterclaim unless otherwise agreed in writing by the Transferor and the Receivables Trustee or, as the case may be, such Additional Transferor and the Receivables Trustee.

Currency of Account and Payment. 12.1 Sterling 22.1 Yen is the currency of account and payment for each and every sum at any time due from any person hereunder and under the Future Receivables Transfer PROVIDED, HOWEVER, provided that: 12.1.1 (i) each payment in respect of costs and expenses shall be made in the currency in which the same were incurred; and 12.1.2 (ii) each payment which is expressed herein to be payable in another currency shall be made in that other currency. 12.2 22.2 If any sum due from a person (a "RELEVANT PERSONrelevant person") under this Agreement or the Future Receivables Transfer or any order or judgment given or made in relation to this Agreement or the Future Receivables Transfer hereto has to be converted from the currency (the "FIRST CURRENCYfirst currency") in which the same is payable hereunder or under the Future Receivables Transfer or under such order or judgment into another currency (the "SECOND CURRENCYsecond currency") for the purpose of (i) making or filing a claim or proof against the relevant person, (ii) obtaining an order or judgment in any court or other tribunal or (iii) enforcing any order or judgment given or made in relation to this Agreement or the Future Receivables Transferhereto, the relevant person shall indemnify and hold harmless the other person to whom such sum is due from and against any loss suffered as a result of any discrepancy between (a) the rate of exchange used for such purpose to convert the sum in question from the first currency into the second currency and (b) the best rate or rates of exchange at which such other person may in the ordinary course of business is reasonably able to purchase the first currency with the second currency upon receipt of a sum paid to it in satisfaction, in whole or in part, of any such order, judgment, claim or proof. To the extent that the person to whom such payment is due receives an amount in excess of the amount due to it under this Agreement, such person shall forthwith pay an amount equal to any such excess to the relevant person. 12.3 22.3 All payments made by any person hereunder or under the Future Receivables Transfer shall be made free and clear of and without any deduction for or on account of any set-off or counterclaim unless otherwise agreed in writing by the Transferor and the Receivables Trustee or, as the case may be, such Additional Transferor and the Receivables Trusteecounterclaim.

Currency of Account and Payment. 12.1 Sterling 19.1 CURRENCY OF ACCOUNT The dollar is the currency of account and payment for each and every sum at any time due from any person of the Obligors hereunder and under the Future Receivables Transfer PROVIDED, HOWEVER, Provided that: 12.1.1 (a) each repayment of an Advance or a part thereof shall be made in the currency in which such Advance is denominated at the time of that repayment; (b) each payment of interest shall be made in the currency in which the sum in respect of which such interest is payable is denominated; (c) each payment in respect of costs and expenses shall be made in the currency in which the same were incurred; (d) each payment pursuant to Clause 9.2 (TAX INDEMNITY) or Clause 11.1 (INCREASED COSTS) shall be made in the currency in which such cost is incurred as specified by the party claiming thereunder; and 12.1.2 each payment which is (e) any amount expressed herein to be payable in another a currency other than dollars shall be made paid in that other currency. 12.2 19.2 CURRENCY INDEMNITY If any sum due from a person (a "RELEVANT PERSON") any of the Obligors under this Agreement or the Future Receivables Transfer or any order or judgment given or made in relation to this Agreement or the Future Receivables Transfer hereto has to be converted from the currency (the "FIRST CURRENCY") in which the same is payable hereunder or under the Future Receivables Transfer or under such order or judgment into another currency (the "SECOND CURRENCY") for the purpose of (ia) making or filing a claim or proof against the relevant personsuch Obligor, (iib) obtaining an order or judgment in any court or other tribunal or (iiic) enforcing any order or judgment given or made in relation to this Agreement or the Future Receivables Transferhereto, the relevant person such Obligor shall indemnify and hold harmless each of the person Banks and the Agent to whom such sum is due from and against any loss suffered or incurred as a result of any discrepancy between (ai) the rate of exchange used for such purpose to convert the sum in question from the first currency into the second currency and (bii) the rate or rates of exchange at which such person Bank or the Agent (as the case may be) may in the ordinary course of business (and acting reasonably) purchase the first currency with the second currency upon receipt of a sum paid to it in satisfaction, in whole or in part, of any such order, judgment, claim or proof. 12.3 All payments made by proof Provided that, where any person hereunder or under such discrepancy results in any of the Future Receivables Transfer Banks and the Agent receiving an amount greater than the sum converted for the purposes referred to in this Clause, the Banks and the Agent shall at the cost and expense of the Guarantor pay an amount equal to such excess to the relevant Obligor provided further that the amount to be made free and clear of and without any deduction for or on account of any set-off or counterclaim unless otherwise agreed in writing paid by the Transferor and the Receivables Trustee or, as the case may be, relevant Bank or Agent shall not exceed an amount which would leave such Additional Transferor and the Receivables TrusteeBank or Agent in no worse position than if such conversion had not been made.