Common use of Exchange Rates Clause in Contracts

Exchange Rates. (a) Not later than 1:00 P.M., Local Time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date for each Optional Currency in which a Revolving Extension of Credit is then outstanding or will be outstanding, after giving effect to any submitted borrowing notices or Applications, and (ii) give notice thereof to the Parent Borrower. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a “Reset Date”) and shall remain effective until the next succeeding Reset Date.

Exchange Rates. (a) Not later than 1:00 P.M., Local Time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date for each Optional Alternative Currency in which a Revolving Extension of Credit Loan is then outstanding or will be outstanding, after giving effect to any submitted borrowing notices or Applications, and (ii) give notice thereof to the Parent Borrower. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a “Reset Date”) and shall remain effective until the next succeeding Reset Date.

Exchange Rates. (a) Not later than 1:00 P.M., Local Time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date for each Optional Alternative Currency in which a Revolving Extension of Credit Loan is then outstanding or will be outstanding, after giving effect to any submitted borrowing notices or Applications, and (ii) give notice thereof to the Parent Borrower. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a “Reset Date”) and shall remain effective until the next succeeding Reset Date.

Exchange Rates. (a) Not later than 1:00 P.M.p.m., Local Time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date for each Optional Currency in which a Revolving Extension of Credit is then outstanding or will be outstanding, after giving effect to any submitted borrowing notices or Applications, and (ii) give notice thereof to the Parent Borrower. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (each, a “Reset Date”) and shall remain effective until the next succeeding Reset Date.

Exchange Rates. (a) Not later than 1:00 P.M., Local Time, on each Calculation Date, the Administrative Agent shall (ia) determine the Exchange Rate as of such Calculation Date for each Optional Currency currency other than Dollars in which a Revolving Extension Letter of Credit is then outstanding or will be outstanding, after giving effect to any submitted borrowing notices or Applications, and (iib) give notice thereof to the Parent Borrower. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a “Reset Date”) and shall remain effective until the next succeeding Reset Date.

Exchange Rates. (a) Not later than 1:00 P.M., Local Time, on each -------------- Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date for each Optional Currency in which a Revolving Extension of Credit Loan is then outstanding or will be outstanding, after giving effect to any submitted borrowing notices or Applications, and (ii) give notice thereof to the Parent BorrowerAeroflex. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a “"Reset Date”") and shall remain ---------- effective until the next succeeding Reset Date.

Exchange Rates. (a) Not later than 1:00 P.M., Local Time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date for each Optional Currency in which a Revolving Extension of Credit Loan is then outstanding or will be outstanding, after giving effect to any submitted borrowing notices or Applications, and (ii) give notice thereof to the Parent Borrower. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a “Reset Date”) and shall remain effective until the next succeeding Reset Date.