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.

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.