Currency Protection. On any date on which the aggregate Collateral Value of Eligible Equipment Loans which are payable in Canadian Dollars included in the Borrowing Base exceeds 3.0% of the aggregate Collateral Value of all Eligible Equipment Loans included in the Borrowing Base on such date, the Borrower shall have in effect, unless otherwise waived in writing by the Agent in its sole discretion, currency hedging agreements reasonably acceptable to with the Agent, which agreements shall be with the Agent or an Affiliate thereof if such agreements are on market terms and conditions or, if not with the Agent or an Affiliate thereof, with a counterparty reasonably acceptable to the Agent.
Currency Protection. The Guarantor agrees that if and to the extent that the Obligations are payable in any currency or currencies other than the currency in which such Obligations were created or denominated (the “Eurocurrency”), such aggregate amount of the Eurocurrency shall be increased, to the extent necessary to avoid any loss to the Lender Parties, on account of any change or changes in the value of such other currency or currencies compared to the Eurocurrency at any time or times between the date hereof and the date or dates of payment of the Obligations by the Guarantor.
Currency Protection. No later than 90 days following the Initial Borrowing Date, the Borrower will enter into (and thereafter maintain) currency Hedging Agreements reasonably acceptable to the Agents establishing foreign exchange protection for an aggregate amount equal to at least 35% of the Total Commitment (as in effect on the Effective Date and prior to giving effect to any reduction thereto on such date), which currency Hedging Agreements the Borrower shall maintain in full force and effect (and in the same form, scope, substance and amount as indicated in this Section 7.10) at all times.
Currency Protection. The charges as set forth in Exhibit 1 are in U.S. Dollars, shall be converted into foreign currencies at the exchange rate as published in the United States Wall Street Journal, ("Journal") prevailing at the time of execution of this Agreement; the Contract Exchange Rate ("CER"). In order to offset risks of negative currency fluctuations for Equant, and to allow Customer to benefit from positive fluctuations, the global effect of currency deviations from the CER will be calculated monthly, and, any resulting currency loss will be reimbursed to Equant and any currency gains will be credited to Customer. Each local Equant Affiliate or subcontractor will issue their monthly invoices in their respective local currency to Equant. Such invoices shall be converted at the prevailing exchange rate, as published in the Journal, at the end of the given month to determine the Current Rate Monthly Charge ("CRMC"). The CRMC will then be compared to the monthly Charges based on the CER. The difference, that being the CRMC, less the CER, shall equal the Monthly Exchange Adjustment CMEA"). The cumulative MEA for all Equant countries will be either added or subtracted to the following monthly invoice to Customer.
Currency Protection. 14.6.1 The Lessee agrees to indemnify each Indemnitee against any Loss which such Indemnitee suffers in converting any sum into Dollars if:
(a) such Indemnitee receives an amount relating to the Lessee’s obligations in a different currency from that in which payments should be made under the Transaction Documents; or
(b) the Lessee pays a judgment or claim in a different currency from that in which payments should be made under the Transaction Documents.
14.6.2 The Lessee waives any right it may have in any jurisdiction to pay any amount under the Transaction Documents in a currency other than the contractual currency.
14.6.3 The Lessor will:
(a) pay to the Lessee any currency gain which it has received from any conversion made by the Lessor relating to any event referred to in Clause 14.6.1; and
(b) use all reasonable endeavours to procure payment to the Lessee by any other Indemnitee of any currency gain which such Indemnitee has received from any conversion made by such Indemnitee relating to any event referred to in Clause 14.6.1, provided that in each case no Event of Default has occurred and is continuing.
Currency Protection. 14.8.1 The Lessee agrees to indemnify each Indemnitee against any Loss which such Indemnitee suffers in converting any sum into Dollars if:
(a) such Indemnitee receives an amount relating to the Lessee’s obligations in a different currency from that in which payments should be made under the Transaction Documents; or
(b) the Lessee pays a judgment or claim in a different currency from that in which payments should be made under the Transaction Documents.
14.8.2 The Lessee waives any right it may have in any jurisdiction to pay any amount under the Transaction Documents or to pay a judgment or a claim in a currency other than the contractual currency.
Currency Protection. The Borrower acknowledges that it may from time to time receive funds in respect of a Borrowing or an L/C Borrowing from, or become obligated to pay principal, interest, fees, costs or expenses to, the Fronting Bank on account of a Participating Lender. The Borrower acknowledges that such Participating Lender may, in respect of its Commitment, provide funds to the Fronting Bank in U.S. Dollars. Upon receipt of any payment from the Borrower in respect of principal, interest, fees, costs or expenses for the account of a Participating Lender, the Fronting Bank shall convert such payment into U.S. Dollars. The obligation of the Borrower in respect of any such payment shall be discharged only to the extent that, on the Business Day following receipt by the Fronting Bank of such payment, the Fronting Bank is able to, in accordance with normal banking procedures, purchase U.S. Dollars in a sufficient quantity to pay the Participating Lenders in full.
