Common use of Exchange Rate Fluctuations Clause in Contracts

Exchange Rate Fluctuations. If fluctuations in rates of exchange in effect between US Dollars and Canadian Dollars cause the amount of Advances (expressed in Canadian Dollars based on the Exchange Rate in effect from time to time) under any Credit to exceed the maximum amount of the applicable Credit permitted herein by five percent or more at any time, the Borrower shall pay the Lenders within three Business Days after demand such amount as is necessary to repay the excess. If the Borrower is unable to do so because LIBOR Periods have not ended or Bankers’ Acceptances have not matured, the Borrower shall, within three Business Days after demand, post Cash Collateral in the amount of the excess, which shall be held by the Agent until the amount of the excess is paid in full or is less than five percent, at which time it shall be promptly returned by the Agent to the Borrower if no Default has occurred and is continuing. If, on the date of any Advance under any Credit (whether by rollover, conversion or otherwise), the amount of Advances (expressed as described above) under any Credit exceeds the maximum amount of the applicable Credit permitted herein because of fluctuations in rates of exchange, the Borrower shall immediately pay the Lenders the excess and shall not be entitled to any Advance that would result in the amount of the applicable Credit being exceeded.

Exchange Rate Fluctuations. If fluctuations in rates of exchange Exchange Rates in effect between US U.S. Dollars and Canadian Dollars cause the amount of Advances (expressed in Canadian Dollars based on the Exchange Rate in effect from time to timeU.S. Dollars) under any the Credit to exceed the maximum amount of the applicable Credit permitted herein by five percent or more in this Agreement at any time, the Borrower shall immediately pay the Lenders within three Business Days after demand Lender such amount as is necessary to repay the excess. If the Borrower is unable to do so immediately pay any amount under this Section because LIBOR Periods have not ended or ended, Bankers’ ' Acceptances have not maturedmatured or L/Cs are outstanding, the Borrower shall, within three Business Days after demand, post shall immediately deposit Cash Collateral with the Lender in the amount of the excess, which and that Cash Collateral shall form part of the Security and be held by the Agent until the amount of the excess is paid in full or is less than five percent, at which time it shall be promptly returned by the Agent to the Borrower if no Default has occurred and is continuingfull. If, on the date of any Advance under any the Credit (whether by renewal, rollover, conversion or otherwise), the amount of Advances (expressed as described abovein U.S. Dollars) under any the Credit exceeds taking into account the requested Advance, would exceed the maximum amount of the applicable Credit permitted herein because of fluctuations in rates Exchange Rates between the time of exchangethe notice of the Advance and the time the Advance is to be made, the Borrower shall immediately pay the Lenders the excess and shall not be entitled to any Advance that would result in the amount of the applicable Credit being exceededAdvance shall be reduced to the extent necessary to eliminate any such excess.

Exchange Rate Fluctuations. If fluctuations in rates of exchange in effect between US Canadian Dollars and Canadian Dollars a foreign currency in which Advances are available cause the amount of Advances (expressed in Canadian Dollars based on the Exchange Rate in effect from time to timeDollars) under any the Credit to exceed the maximum amount of the applicable Credit permitted herein by five percent or more in this Agreement at any timetime by 5% or more, the Borrower Borrowers shall immediately pay the Lenders within three Business Days after demand such amount as is necessary to repay the excessexcess above the permitted maximum amount of the Credit. If the Borrower Borrowers or either of them is unable to do so immediately pay any amount under this Section because LIBOR LIBORTerm SOFR Reference Periods, XXXXX Periods or EURIBOR Periods have not ended or ended, Bankers’ Acceptances have not maturedmatured or L/Cs are outstanding, the Borrower shall, within three Business Days after demand, Borrowers shall immediately post Cash Collateral with the Agent in the amount of the excess, which and that Cash Collateral shall form part of the Security for the Obligations and be held by the Agent until the amount of the excess is paid in full or is less than five percent, at which time it shall be promptly returned by the Agent to the Borrower if no Default has occurred and is continuingfull. If, on the date of any Advance under any the Credit (whether by rollover, conversion or otherwise), the amount of Advances (expressed as described abovein Canadian Dollars) under any the Credit exceeds the maximum amount of the applicable Credit permitted herein because of fluctuations in rates of exchange, the Borrower Borrowers shall immediately pay the Lenders the excess and shall not be entitled to any Advance that would result in the amount of the applicable Credit being exceeded.

Exchange Rate Fluctuations. If fluctuations in rates of exchange in effect between US Canadian Dollars and Canadian Dollars a foreign currency in which Advances are available cause the amount of Advances (expressed in Canadian Dollars based on the Exchange Rate in effect from time to timeDollars) under any the Credit to exceed the maximum amount of the applicable Credit permitted herein by five percent or more in this Agreement at any timetime by 5% or more, the Borrower Borrowers shall immediately pay the Lenders within three Business Days after demand such amount as is necessary to repay the excessexcess above the permitted maximum amount of the Credit. If the Borrower Borrowers or either of them is unable to do so immediately pay any amount under this Section because LIBOR Periods, XXXXX Periods or EURIBOR Periods have not ended or ended, Bankers’ Acceptances have not maturedmatured or L/Cs are outstanding, the Borrower shall, within three Business Days after demand, Borrowers shall immediately post Cash Collateral with the Agent in the amount of the excess, which and that Cash Collateral shall form part of the Security for the Obligations and be held by the Agent until the amount of the excess is paid in full or is less than five percent, at which time it shall be promptly returned by the Agent to the Borrower if no Default has occurred and is continuingfull. If, on the date of any Advance under any the Credit (whether by rollover, conversion or otherwise), the amount of Advances (expressed as described abovein Canadian Dollars) under any the Credit exceeds the maximum amount of the applicable Credit permitted herein because of fluctuations in rates of exchange, the Borrower Borrowers shall immediately pay the Lenders the excess and shall not be entitled to any Advance that would result in the amount of the applicable Credit being exceeded.