Excess Resulting from Exchange Rate Change. If at any time following one or more fluctuations in the exchange rate of the Canadian Dollar against the U.S. Dollar, (a) the aggregate outstanding amount of Advances exceeds any limitations hereunder based on the U.S Dollar Equivalent thereof, or (b) the aggregate outstanding amount of Advances exceeds any other limit based on U.S. Dollars set forth herein for such Obligations, Borrowers shall on the Business Day that any Loan Party has knowledge thereof or the Business Day on which Agent shall have notified Borrowing Agent thereof make the necessary payments or repayments to reduce such Obligations to an amount necessary to eliminate such excess. Without in any way limiting the foregoing provisions, Agent may, weekly or more frequently in the sole discretion of Agent, make the necessary exchange rate calculations to determine whether any such excess exists on such date.
Appears in 4 contracts
Samples: Security Agreement (Williams Industrial Services Group Inc.), Revolving Credit and Security Agreement (Williams Industrial Services Group Inc.), Security Agreement (Williams Industrial Services Group Inc.)
