Common use of Currency of Account; Conversion of Currency; Foreign Exchange Restrictions Clause in Contracts

Currency of Account; Conversion of Currency; Foreign Exchange Restrictions. (a) U.S. Dollars are the sole currency of account and payment for all sums payable by the Issuer and the Guarantors under or in connection with the Dollar Securities, 133 the Guarantees of the Dollar Securities or this Indenture to the extent it relates to the Dollar Securities, including damages related thereto, and pounds sterling are the sole currency of account and payment for all sums payable by the Issuer and the Guarantors under or in connection with the Sterling Securities, the Guarantees of the Sterling Securities or this Indenture to the extent it relates to the Sterling Securities, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars by a Holder of Dollar Securities or pounds sterling by a Holder of Sterling Securities (whether as a result of, or of the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer or otherwise) in respect of any sum expressed to be due to it from the Issuer shall only constitute a discharge to the Issuer to the extent of the U.S. Dollar or pounds sterling amount, as the case may be, which the recipient is able to purchase with the amount so received or recovered in that other currency on the date of that receipt or recovery (or, if it is not practicable to make that purchase on that date, on the first date on which it is practicable to do so). If that U.S. Dollar or pounds sterling amount is less than the U.S. Dollar or pounds sterling amount expressed to be due to the recipient under the applicable Securities, the Issuer shall indemnify it against any loss sustained by it as a result as set forth in Section 12.14(b). In any event, the Issuer and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 12.14, it will be sufficient for the Holder of a Security to certify in a satisfactory manner (indicating sources of information used) that it would have suffered a loss had an actual purchase of U.S. Dollars or pounds sterling, as the case may be, been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of U.S. Dollars or pounds sterling, as applicable, on such date had not been practicable, on the first date on which it would have been practicable, it being required that the need for a change of date be certified in the manner mentioned above). The indemnities set forth in this Section 12.14 constitute separate and independent obligations from other obligations of the Issuer and the Guarantors, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by any Holder of the Securities and shall continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of any sum due under the Securities.

Appears in 2 contracts

Samples: Indenture (Warner Alliance Music Inc), Indenture (LEM America, Inc)

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Currency of Account; Conversion of Currency; Foreign Exchange Restrictions. (a) U.S. Dollars are the sole currency of account and payment for all sums payable by the Issuer and the Guarantors under or in connection with the Dollar Securities, 133 the Guarantees of the Dollar Securities or this Indenture to the extent it relates to the Dollar Securities, including damages related thereto, and pounds sterling are the sole currency of account and payment for all sums payable by the Issuer and the Guarantors under or in connection with the Sterling Securities, the Guarantees of the Sterling Securities or this Indenture to the extent it relates to the Sterling Securities, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars by a Holder of Dollar Securities or pounds sterling by a Holder of Sterling Securities (whether as a result of, or of the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer or otherwise) in respect of any sum expressed to be due to it from the Issuer shall only constitute a discharge to the Issuer to the extent of the U.S. Dollar or pounds sterling amount, as the case may be, which the recipient is able to purchase with the amount so received or recovered in that other currency on the date of that receipt or recovery (or, if it is not practicable to make that purchase on that date, on the first date on which it is practicable to do so). If that U.S. Dollar or pounds sterling amount is less than the U.S. Dollar or pounds sterling amount expressed to be due to the recipient under the applicable Securities, the Issuer shall indemnify it against any loss sustained by it as a result as set forth in Section 12.14(b12.15(b). In any event, the Issuer and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 12.1412.15, it will be sufficient for the Holder of a Security to certify in a satisfactory manner (indicating sources of information used) that it would have suffered a loss had an actual purchase of U.S. Dollars or pounds sterling, as the case may be, been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of U.S. Dollars or pounds sterling, as applicable, on such date had not been practicable, on the first date on which it would have been practicable, it being required that the need for a change of date be certified in the manner mentioned above). The indemnities set forth in this Section 12.14 12.15 constitute separate and independent obligations from other obligations of the Issuer and the Guarantors, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by any Holder of the Securities and shall continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of any sum due under the Securities.

Appears in 2 contracts

Samples: Global Crossing Uk Telecommunications LTD, Global Crossing LTD

Currency of Account; Conversion of Currency; Foreign Exchange Restrictions. (a) U.S. Dollars dollars are the sole currency of account and payment for all sums payable by the Issuer and Company or the Guarantors under or Guarantor in connection with the Dollar Securities, 133 the Guarantees respect of the Dollar Securities Notes, the Guarantee or this Indenture to the extent it relates to the Dollar SecuritiesIndenture, including damages related thereto, and pounds sterling are the sole currency of account and payment for all sums payable by the Issuer and the Guarantors under or in connection with the Sterling Securities, the Guarantees of the Sterling Securities or this Indenture to the extent it relates to the Sterling Securities, including damages related theretodamages. Any amount received or recovered in a currency other than U.S. Dollars by a Holder of Dollar Securities or pounds sterling by a Holder of Sterling Securities dollars (whether as a result of, or of the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer Company, the Guarantor or otherwise) by any Holder in respect of any sum expressed to be due to it from the Issuer shall Company or the Guarantor will only constitute a discharge to the Issuer Company or the Guarantor to the extent of the U.S. Dollar or pounds sterling amount, as the case may be, which the recipient is able to purchase with Equivalent of the amount so received or recovered in that other currency on the date of that receipt or recovery (or, if it is not practicable to make that purchase on that date, on the first date on which it is practicable to do so). If that U.S. Dollar or pounds sterling dollar amount is less than the U.S. Dollar or pounds sterling dollar amount expressed to be due to the recipient under any Note or the applicable SecuritiesGuarantee, the Issuer shall Company or the Guarantor, as the case may be, will indemnify it the recipient against any loss sustained by it as a result as set forth in Section 12.14(b10.15(b). In any event, the Issuer and Company or the Guarantors shall Guarantor, as the case may be, will indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 12.1410.15, it will be sufficient for the Holder of a Security to certify in a reasonably satisfactory manner (indicating sources of information used) that it would have suffered a loss had an actual purchase of U.S. Dollars or pounds sterling, as the case may be, dollars been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of U.S. Dollars or pounds sterling, as applicable, dollars on such date had not been practicable, on the first date on which it would have been practicable, it being required that the need for a change of date be certified in the manner mentioned above). The indemnities set forth in this Section 12.14 10.15 constitute separate and independent obligations from other obligations of the Issuer and the Guarantors, shall give rise to a separate and independent cause causes of action, shall apply irrespective of any indulgence granted by any Holder of the Securities and shall continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of any sum due under the Securitiesany Note.

Appears in 1 contract

Samples: Indenture (Claxson Interactive Group Inc)

Currency of Account; Conversion of Currency; Foreign Exchange Restrictions. (a) U.S. Dollars are the sole currency of account and payment for all sums payable by the Issuer Company and the Guarantors under or in connection with the Dollar Securities, 133 the Senior Subordinated Guarantees of the Dollar Securities or this Indenture to the extent it relates to the Dollar Securities, including damages related thereto, and pounds sterling Euros are the sole currency of account and payment for all sums payable by the Issuer Company and the Guarantors under or in connection with the Sterling Euro Securities, the Senior Subordinated Guarantees of the Sterling Euro Securities or this Indenture to the extent it relates to the Sterling Euro Securities, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars by a Holder of Dollar Securities or pounds sterling Euro by a Holder of Sterling Euro Securities (whether as a result of, or of the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer Company or otherwise) in respect of any sum expressed to be due to it from the Issuer Company shall only constitute a discharge to the Issuer Company to the extent of the U.S. Dollar or pounds sterling Euro amount, as the case may be, which the recipient is able to purchase with the amount so received or recovered in that other currency on the date of that receipt or recovery (or, if it is not practicable to make that purchase on that date, on the first date on which it is practicable to do so). If that U.S. Dollar or pounds sterling Euro amount is less than the U.S. Dollar or pounds sterling Euro amount expressed to be due to the recipient under the applicable Securities, the Issuer Company shall indemnify it against any loss sustained by it as a result as set forth in Section 12.14(b13.16(b). In any event, the Issuer Company and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 12.1413.16, it will be sufficient for the Holder of a Security Note to certify in a satisfactory manner (indicating sources of information used) that it would have suffered a loss had an actual purchase of U.S. Dollars or pounds sterlingEuros, as the case may be, been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of U.S. Dollars or pounds sterlingEuros, as applicable, on such date had not been practicable, on the first date on which it would have been practicable, it being required that the need for a change of date be certified in the manner mentioned above). The indemnities set forth in this Section 12.14 13.16 constitute separate and independent obligations from other obligations of the Issuer Company and the Guarantors, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by any Holder of the Securities and shall continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of any sum due under the Securities.

Appears in 1 contract

Samples: Supplemental Indenture (Nalco Energy Services Equatorial Guinea LLC)

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Currency of Account; Conversion of Currency; Foreign Exchange Restrictions. (a) U.S. Dollars are the sole currency of account and payment for all sums payable by the Issuer Company and the Guarantors under or in connection with the Dollar SecuritiesNotes, 133 the Guarantees of the Dollar Securities Notes or this Indenture to the extent it relates to the Dollar Securities, including damages related thereto, and pounds sterling are the sole currency of account and payment for all sums payable by the Issuer and the Guarantors under or in connection with the Sterling Securities, the Guarantees of the Sterling Securities or this Indenture to the extent it relates to the Sterling SecuritiesNotes, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars by a Holder holder of Dollar Securities or pounds sterling by a Holder of Sterling Securities Notes (whether as a result of, or of the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer Issuers or otherwise) in respect of any sum expressed to be due to it from the Issuer Issuers shall only constitute a discharge to the Issuer Issuers to the extent of the U.S. Dollar or pounds sterling amount, as the case may be, which the recipient is able to purchase with the amount so received or recovered in that other currency on the date of that receipt or recovery (or, if it is not practicable to make that purchase on that date, on the first date on which it is practicable to do so). If that U.S. Dollar or pounds sterling amount is less than the U.S. Dollar or pounds sterling amount expressed to be due to the recipient under the applicable SecuritiesNotes, the Issuer Issuers and the Guarantors shall indemnify it against any loss sustained by it as a result as set forth in Section 12.14(b11.17(b). In any event, the Issuer Company and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 12.1411.17, it will be sufficient for the Holder holder of a Security Note to certify in a satisfactory manner (indicating sources of information used) that it would have suffered a loss had an actual purchase of U.S. Dollars or pounds sterling, as the case may be, been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of U.S. Dollars or pounds sterling, as applicable, on such date had not been practicable, on the first date on which it would have been practicable, it being required that the need for a change of date be certified in the manner mentioned above). The indemnities in demnities set forth in this Section 12.14 11.17 constitute separate and independent obligations from other obligations of the Issuer Issuers and the Guarantors, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by any Holder holder of the Securities Notes and shall continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of any sum due under the SecuritiesNotes.

Appears in 1 contract

Samples: Indenture (Skyterra Communications Inc)

Currency of Account; Conversion of Currency; Foreign Exchange Restrictions. (a) U.S. Dollars are the sole currency of account and payment for all sums payable by the Issuer Company and the Guarantors under or in connection with the Dollar Securities, 133 the Senior Guarantees of the Dollar Securities or this Indenture to the extent it relates to the Dollar Securities, including damages related thereto, and pounds sterling Euros are the sole currency of account and payment for all sums payable by the Issuer Company and the Guarantors under or in connection with the Sterling Euro Securities, the Senior Guarantees of the Sterling Euro Securities or this Indenture to the extent it relates to the Sterling Euro Securities, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars by a Holder of Dollar Securities or pounds sterling Euro by a Holder of Sterling Euro Securities (whether as a result of, or of the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer Company or otherwise) in respect of any sum expressed to be due to it from the Issuer Company shall only constitute a discharge to the Issuer Company to the extent of the U.S. Dollar or pounds sterling Euro amount, as the case may be, which the recipient is able to purchase with the amount so received or recovered in that other currency on the date of that receipt or recovery (or, if it is not practicable to make that purchase on that date, on the first date on which it is practicable to do so). If that U.S. Dollar or pounds sterling Euro amount is less than the U.S. Dollar or pounds sterling Euro amount expressed to be due to the recipient under the applicable Securities, the Issuer Company shall indemnify it against any loss sustained by it as a result as set forth in Section 12.14(b11.16(b). In any event, the Issuer Company and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 12.1411.16, it will be sufficient for the Holder of a Security Note to certify in a satisfactory manner (indicating sources of information used) that it would have suffered a loss had an actual purchase of U.S. Dollars or pounds sterlingEuros, as the case may be, been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of U.S. Dollars or pounds sterlingEuros, as applicable, on such date had not been practicable, on the first date on which it would have been practicable, it being required that the need for a change of date be certified in the manner mentioned above). The indemnities set forth in this Section 12.14 11.16 constitute separate and independent obligations from other obligations of the Issuer Company and the Guarantors, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by any Holder of the Securities and shall continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of any sum due under the Securities.

Appears in 1 contract

Samples: Supplemental Indenture (Nalco Energy Services Equatorial Guinea LLC)

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