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 Company and the Guarantors under or in connection with the Dollar Notes, the Guarantees of the Dollar Notes or this Indenture to the extent it relates to the Dollar Notes, including damages related thereto, and Euros are the sole currency of account and payment for all sums payable by the Company and the Guarantors under or in connection with the Euro Notes, the Guarantees of the Euro Notes or this Indenture to the extent it relates to the Euro Notes, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars by a Holder of Dollar Notes or Euro by a Holder of Euro 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 Company or otherwise) in respect of any sum expressed to be due to it from the Company shall only constitute a discharge to the Company to the extent of the U.S. Dollar or 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 Euro amount is less than the U.S. Dollar or Euro amount expressed to be due to the recipient under the applicable Notes, the Company shall indemnify it against any loss sustained by it as a result as set forth in Section 13.13(b). In any event, the Company and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 13.13, it will be sufficient for the Holder of a 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 Euros, 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 Euros, 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 13.13 constitute separate and independent obligations from other obligations of the 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 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 Notes.

Appears in 3 contracts

Samples: Indenture (Daramic, LLC), Indenture (Polypore International, Inc.), Indenture (Polypore International, Inc.)

AutoNDA by SimpleDocs

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 Company and the Guarantors under or in connection with the Dollar Notes, the Guarantees of the Dollar Notes or this Indenture to the extent it relates to the Dollar Notes, including damages related thereto, and Euros euros are the sole currency of account and payment for all sums payable by the Company and the Guarantors under or in connection with the Euro Notes, the Guarantees of the Euro Notes or this Indenture to the extent it relates to the Euro Notes, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars dollars by a Holder of Dollar Notes or Euro euros by a Holder of Euro Notes (whether as a result of, or of on the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Company Company, any Guarantor or otherwise) in respect of any sum expressed to be due to it from the Company shall only constitute a discharge to the Company to the extent of the U.S. Dollar dollar or Euro 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 dollar or Euro euro amount is less than the U.S. Dollar dollar or Euro euro amount expressed to be due to the recipient under the applicable Notes, Notes and the Company shall indemnify it against any loss sustained by it as a result as set forth in Section 13.13(b13.16(b). In any event, the Company and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 13.1313.16, it will be sufficient for the Holder of a 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 dollars or Euroseuros, 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 dollars or Euroseuros, 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 13.13 constitute separate and independent obligations from other obligations of the 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 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 Notes.

Appears in 1 contract

Samples: Supplemental Indenture (Jarden Corp)

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 Company Issuers and the Guarantors under or in connection with the Dollar Notes, the Guarantees of the Dollar Notes or this Indenture to the extent it relates to the Dollar Notes, including damages related thereto, and Euros euros are the sole currency of account and payment for all sums payable by the Company Issuers and the Guarantors under or in connection with the Euro Notes, the Guarantees of the Euro Notes or this Indenture to the extent it relates to the Euro Notes, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars dollars by a Holder of Dollar Notes or Euro euros by a Holder of Euro 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 Company Issuers or otherwise) in respect of any sum expressed to be due to it from the Company Issuers shall only constitute a discharge to the Company Issuers to the extent of the U.S. Dollar dollar or 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 dollar or Euro amount is less than the U.S. Dollar dollar or Euro amount expressed to be due to the recipient under the applicable Notes, the Company Issuers shall indemnify it against any loss sustained by it as a result as set forth in Section 13.13(b12.17(b). In any event, the Company Issuers and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 13.1312.17, it will be sufficient for the Holder of a 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 dollars or Euroseuros, 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 dollars or Euroseuros, 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 13.13 12.17 constitute separate and independent obligations from other obligations of the Company 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 of the 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 Notes.

Appears in 1 contract

Samples: Indenture (Global Media USA, LLC)

AutoNDA by SimpleDocs

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 Company and the Guarantors under or in connection with the Dollar NotesSecurities, the Guarantees of the Dollar Notes Securities or this Indenture to the extent it relates to the Dollar NotesSecurities, including damages related thereto, and Euros are the sole currency of account and payment for all sums payable by the Company and the Guarantors under or in connection with the Euro NotesSecurities, the Guarantees of the Euro Notes Securities or this Indenture to the extent it relates to the Euro NotesSecurities, including damages related thereto. Any amount received or recovered in a currency other than U.S. Dollars by a Holder of Dollar Notes Securities or Euro by a Holder of Euro Notes 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 Company or otherwise) in respect of any sum expressed to be due to it from the Company shall only constitute a discharge to the Company to the extent of the U.S. Dollar or 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 Euro amount is less than the U.S. Dollar or Euro amount expressed to be due to the recipient under the applicable NotesSecurities, the Company shall indemnify it against any loss sustained by it as a result as set forth in Section 13.13(b12.18(b). In any event, the Company and the Guarantors shall indemnify the recipient against the cost of making any such purchase. For the purposes of this Section 13.1312.18, it will be sufficient for the Holder of a 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 Euros, 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 Euros, 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 13.13 12.18 constitute separate and independent obligations from other obligations of the 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 Notes 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 NotesSecurities.

Appears in 1 contract

Samples: Indenture (Nalco Holding CO)

Time is Money Join Law Insider Premium to draft better contracts faster.