Common use of Dollar Equivalent Calculations Clause in Contracts

Dollar Equivalent Calculations. For purposes of this Agreement, all valuations or computations of monetary amounts set forth in this Agreement or the Loan Documents shall include as the context may require the Dollar Equivalent of amounts of Canadian Dollars and, in any event, valuation of assets included in the Borrowing Base which are in Canadian Dollars shall be converted to Dollar Equivalent of such amounts for the purpose of calculating the Borrowing Base on each date that a Borrowing Base Certificate is delivered hereunder and at such other times as designated by the Administrative Agent. Such Dollar Equivalent shall remain in effect until the same is recalculated by the Administrative Agent as provided above and notice of such recalculation is received by the Borrower, it being understood that until such notice of such recalculation is received, the Dollar Equivalent shall be that Dollar Equivalent as last reported to the Borrower by the Administrative Agent. The Administrative Agent shall promptly notify the Borrower and the Lenders of each such determination of the Dollar Equivalent.