Common use of Foreign Currency Obligations Clause in Contracts

Foreign Currency Obligations. Each Guarantor shall make payment relative to each Obligation in the currency in which either Borrower or any Guarantor, as applicable, is required to pay such Obligation. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of each Guarantor in respect of any such sum due from it to any Beneficiary hereunder or under any Document shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of the applicable Loan Document (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by such Beneficiary of any sum adjudged to be so due in the Judgment Currency, such Beneficiary may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to such Beneficiary from any Guarantor in the Agreement Currency, such Guarantor agrees, as a separate obligation and notwithstanding any such judgment, to indemnify such Beneficiary against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to any Beneficiary in such currency, such Beneficiary agrees to return the amount of any excess to such Guarantor (or to any other Person who may be entitled thereto under applicable law).

Foreign Currency Obligations. Each The Guarantor shall make payment relative to each Obligation in the currency in which either the Borrower or any Guarantor, as applicable, is required to pay such Obligation. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of each the Guarantor in respect of any such sum due from it to any Beneficiary hereunder or under any Document shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of the applicable Loan Document (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by such Beneficiary of any sum adjudged to be so due in the Judgment Currency, such Beneficiary may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to such Beneficiary from any the Guarantor in the Agreement Currency, such the Guarantor agrees, as a separate obligation and notwithstanding any such judgment, to indemnify such Beneficiary against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to any Beneficiary in such currency, such Beneficiary agrees to return the amount of any excess to such the Guarantor (or to any other Person who may be entitled thereto under applicable law).

Foreign Currency Obligations. Each Guarantor shall make payment relative to each Obligation in the currency in which either Borrower or any Guarantor, as applicable, is required to pay such Obligation. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of each Guarantor in respect of any such sum due from it to any Beneficiary hereunder or under any Document shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of the applicable Loan Document (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by such Beneficiary of any sum adjudged to be so due in the Judgment Currency, such Beneficiary may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to such Beneficiary from any Guarantor in the Agreement Currency, such Guarantor agrees, as a separate obligation and notwithstanding any such judgment, to indemnify such Beneficiary against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to any Beneficiary in such currency, such Beneficiary agrees to return the amount of any excess to such Guarantor (or to any other Person who may be entitled thereto under applicable lawLaw).