Foreign Currency Equivalent Clause Samples
The Foreign Currency Equivalent clause defines how amounts denominated in one currency are converted into another currency for the purposes of the agreement. Typically, this clause specifies the method or source for determining exchange rates, such as referencing a particular financial publication or the rate on a specific date. By establishing a clear process for currency conversion, the clause ensures consistency and reduces disputes over payment amounts when transactions involve multiple currencies.
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Foreign Currency Equivalent. 1.5.1 A reference to an amount in dollars includes the foreign currency equivalent of such amount as calculated by the Lender.
Foreign Currency Equivalent. For purposes of determining compliance with any U.S. dollar-denominated restriction or amount, the U.S. dollar equivalent principal amount of any amount denominated in a foreign currency will be the Dollar Equivalent calculated on the date the Indebtedness was incurred or other transaction was entered into; provided that if any Permitted Refinancing Indebtedness denominated in a currency other than U.S. dollars is incurred to refinance Indebtedness denominated in the same currency, and such refinancing would cause the applicable U.S. dollar-denominated restriction to be exceeded if calculated on the date of such refinancing, such Permitted Refinancing Indebtedness shall be deemed not to exceed the principal amount of such Indebtedness being refinanced. Notwithstanding any other provision in this Indenture, no restriction or amount will be exceeded solely as a result of fluctuations in the exchange rate of currencies.