Common use of EXCHANGE RATE MOVEMENTS Clause in Contracts

EXCHANGE RATE MOVEMENTS. 9.1 If on any Loan Notice Date, the Loan Notice Date Exchange Rate is less than the Closing Date Exchange Rate then the number of Loan Shares to be issued shall be increased by the same percentage as results from dividing the Closing Date Exchange Rate by the relevant Loan Notice Date Exchange Rate. By way of example, if the number of Loan Shares to be issued in respect of a particular Loan Notice would, but for this Clause 9.1, be 1,000 and if the Closing Date Exchange Rate is 1.50 and the relevant Loan Notice Date Exchange Rate is 1.45, then 1,035 Loan Shares will be issued in relation to that Loan Notice. 9.2 If on any Cash Payment Date, the Cash Payment Date Exchange Rate is less than the Closing Date Exchange Rate then the amount of cash required to satisfy the amounts due pursuant to Clause 6.4 shall be increased by the same percentage as results from dividing the Closing Date Exchange Rate by the relevant Cash Payment Date Exchange Rate. By way of example, if the amount of cash required to repay all amounts due pursuant to Clause 6.4.1 would, but for this Clause 9.2, be £1,000 and if the Closing Date Exchange Rate is 1.50 and the relevant Cash Payment Notice Date Exchange Rate is 1.45 then the amount of cash from the Cash Payment required to repay all amounts due pursuant to Clause 6.4.1 will be £1,034.48. Accordingly only the surplus over £1,034.48 from such Cash Payment will be applied (again in the same manner) towards any amounts due pursuant to Clause 6.4.2 and if any amount of the Cash Payment remains after all amounts so due pursuant to Clause 6.4.2 have been paid then the surplus will be applied (again in the same manner and after the application of Clause 6.5) to pay amounts pursuant to Clause 6.4.3.

EXCHANGE RATE MOVEMENTS. 9.1 If on any Loan Notice Date, the Loan Notice Date Exchange Rate is less than the Closing Date Exchange Rate then the number of Loan Shares to be issued shall be increased by the same percentage as results from dividing the Closing Date Exchange Rate by the relevant Loan Notice Date Exchange Rate. By way of example, if the number of Loan Shares to be issued in respect of a particular Loan Notice would, but for this Clause 9.1, be 1,000 and if the Closing Date Exchange Rate is 1.50 and the relevant Loan Notice Date Exchange Rate is 1.45, then 1,035 Loan Shares will be issued in relation to that Loan Notice. 9.2 If on any Voluntary Cash Payment Date, the Voluntary Cash Payment Date Exchange Rate is less than the Closing Date Exchange Rate then the amount of cash required to satisfy the amounts due pursuant to Clause 6.4 6.3 shall be increased by the same percentage as results from dividing the Closing Date Exchange Rate by the relevant Voluntary Cash Payment Date Exchange Rate. By way of example, if the amount of cash required to repay all amounts due pursuant to Clause 6.4.1 6.3(a) would, but for this Clause 9.2, be £1,000 and if the Closing Date Exchange Rate is 1.50 and the relevant Voluntary Cash Payment Notice Date Exchange Rate is 1.45 then the amount of cash from the Voluntary Cash Payment required to repay all amounts due pursuant to Clause 6.4.1 6.3(a) will be £1,034.48. Accordingly only the surplus over £1,034.48 from such Voluntary Cash Payment will be applied (again in the same manner) towards any amounts due pursuant to Clause 6.4.2 6.3(b) and if any amount of the Voluntary Cash Payment remains after all amounts so due pursuant to Clause 6.4.2 6.3(b) have been paid then the surplus will be applied (again in the same manner and after the application of Clause 6.56.4) to pay amounts pursuant to Clause 6.4.36.3(c).

EXCHANGE RATE MOVEMENTS. 9.1 11.1 If on any Loan Notice Date, the Loan Notice Date Exchange Rate is less than the Closing Date Exchange Rate then the number of Loan Shares to be issued shall be increased by the same percentage as results from dividing the Closing Date Exchange Rate by the relevant Loan Notice Date Exchange Rate. By way of example, if the number of Loan Shares to be issued in respect of a particular Loan Notice would, but for this Clause 9.111.1, be 1,000 and if the Closing Date Exchange Rate is 1.50 1.80 and the relevant Loan Notice Date Exchange Rate is 1.451.75, then 1,035 1,029 Loan Shares will be issued in relation to that Loan Notice. 9.2 11.2 If on any Cash Payment Date, the Cash Payment Date Exchange Rate is less than the Closing Date Exchange Rate then the amount of cash required to satisfy the amounts due pursuant to Clause 6.4 6.3 shall be increased by the same percentage as results from dividing the Closing Date Exchange Rate by the relevant Cash Payment Date Exchange Rate. By way of example, if the amount of cash required to repay all amounts due pursuant to Clause 6.4.1 6.3(a) would, but for this Clause 9.211.2, be £US$1,000 and if the Closing Date Exchange Rate is 1.50 1.80 and the relevant Cash Payment Notice Date Exchange Rate is 1.45 1.75 then the amount of cash from the Cash Payment required to repay all amounts due pursuant to Clause 6.4.1 6.3(a) will be £1,034.48US$1,028.57. Accordingly only the surplus over £1,034.48 US$1,028.57 from such Cash Payment will be applied (again in the same manner) towards any amounts due pursuant to Clause 6.4.2 6.3(b) and if any amount of the Cash Payment remains after all amounts so due pursuant to Clause 6.4.2 6.3(b) have been paid then the surplus will be applied (again in the same manner and after the application of Clause 6.56.4) to pay amounts pursuant to Clause 6.4.36.3(c). 11.3 If in relation to a Reduction Notice an amount is to be paid pursuant to Clause 8.5(a) and if in relation to that Reduction Notice the Reduction Notice Date Exchange Rate is less than the Closing Date Exchange Rate then the amount of cash required to satisfy the amount due pursuant to Clause 8.5(a) shall be increased by the same percentage as results from dividing the Closing Date Exchange Rate by the relevant Reduction Payment Date Exchange Rate. By way of example, if the amount of cash to be paid pursuant to Clause 8.5(a) would, but for this Clause 11.3, be US$1,000 and if the Closing Date Exchange Rate is 1.80 and the relevant Reduction Notice Date Exchange Rate is 1.75 then the amount of cash to be paid pursuant to Clause 8.5(a)in respect of that Reduction Notice will be US$1,028.57. 11.4 If on any Financing Transaction Date, the Financing Transaction Date Exchange Rate on such date is less than the Closing Date Exchange Rate then: (a) the amount of cash required to satisfy the amounts due pursuant to Clause 7.1 shall be increased by the same percentage as results from dividing the Closing Date Exchange Rate by the relevant Financing Transaction Date Exchange Rate. (b) the number of shares to be issued pursuant to Clause 7.4 shall be increased by the same percentage as results from dividing the Closing Date Exchange Rate by the Financing Transaction Date Exchange Rate.