Common use of Foreign Currency Letters of Credit Clause in Contracts

Foreign Currency Letters of Credit. If the Issuing Bank agrees pursuant to the last sentence of Section 2.18(b) to issue a Letter of Credit denominated in a currency other than Dollars, then notwithstanding anything herein to the contrary, with respect to any such Letter of Credit, the related LC Exposure, the related Reimbursement Obligation of U.S. Borrower, any reimbursement obligation of any Revolving Lender pursuant to Section 2.18(e), any other obligation owed by or to any Revolving Lender, and any LC Participation Fee or Fronting Fee owed pursuant to Section 2.05(c) shall be calculated and due solely in Dollars. The exchange rate for conversion into Dollars utilized shall be the Dollar equivalent of the applicable foreign currency as reasonably determined by the Issuing Bank and the Administrative Agent based on the rate at which the Issuing Bank could convert or has converted any such foreign currency into Dollars taking into account all transaction costs. Any such exchange rate shall be updated at intervals reasonably determined by the Issuing Bank and the Administrative Agent.