Common use of Foreign Currency Payments Clause in Contracts

Foreign Currency Payments. If this Note is a Foreign Currency Note, the principal and premium, if any, and interest on this Note are payable by Québec in the Foreign Currency shown on the face hereof. Payment of principal and premium, if any, and interest will be made in the Foreign Currency by wire transfer to the Holder’s bank account and the Holder will not have the option to elect payment in U.S. dollars. If the Foreign Currency is not available for the payment of principal and premium, if any, and interest with respect to this Note due to the imposition of exchange controls or other circumstances beyond the control of Québec, Québec will be entitled to satisfy its obligations to the Holder of this Note by making such payment in U.S. dollars (i) on the basis of the Market Exchange Rate (as defined below) on the date of the payment, or (ii) if the Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate, or (iii) as the case may be, as otherwise specified in “Other Provisions” on the face hereof. In order for any Holder of this Note to receive payments of principal and premium, if any, and interest in the Foreign Currency by wire transfer, such Holder shall designate an appropriate bank account by filing the appropriate information with the Fiscal Agent at its corporate trust office in The City of New York on or prior to the applicable Record Date or at least sixteen days prior to the applicable Maturity Date, as the case may be. The Fiscal Agent will, subject to applicable laws and regulations and until it receives notice to the contrary, make such payment and all succeeding payments to such Holder by wire transfer to the designated account. If a payment cannot be made by wire transfer because the required information has not been received by the Fiscal Agent on or before the requisite date, a notice will be mailed to the Holder of this Note at its registered address requesting such information and until such information has been received, no additional interest will accrue. Québec will pay all administrative costs imposed by banks in connection with making payments by wire transfer, but any tax, assessment or governmental charge imposed upon such payments will be borne by the Holder of this Note.

Foreign Currency Payments. If this Note is a Foreign Currency Note, the principal and premium, if any, and interest and Additional Amounts, if any, on this Note are payable by Québec in the Foreign Currency shown on the face hereof. Payment of principal and premium, if any, and interest and Additional Amounts, if any, will be made in the Foreign Currency by wire transfer to the Holder’s bank account and the Holder will not have the option to elect payment in U.S. dollars. If the Foreign Currency is not available for the payment of principal and premium, if any, and interest and Additional Amounts, if any, with respect to this Note due to the imposition of exchange controls or other circumstances beyond the control of Québec, Québec will be entitled to satisfy its obligations to the Holder of this Note by making such payment in U.S. dollars (i) on the basis of the Market Exchange Rate (as defined below) on the date of the payment, or (ii) if the Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate, or (iii) as the case may be, as otherwise specified in “Other Provisions” on the face hereof. In order for any Holder of this Note to receive payments of principal and premium, if any, and interest and Additional Amounts, if any, in the Foreign Currency by wire transfer, such Holder shall designate an appropriate bank account by filing the appropriate information with the Fiscal Agent at its corporate trust office in The City of New York on or prior to the applicable Record Date or at least sixteen days prior to the applicable Maturity Date, as the case may be. The Fiscal Agent will, subject to applicable laws and regulations and until it receives notice to the contrary, make such payment and all succeeding payments to such Holder by wire transfer to the designated account. If a payment cannot be made by wire transfer because the required information has not been received by the Fiscal Agent on or before the requisite date, a notice will be mailed to the Holder of this Note at its registered address requesting such information and until such information has been received, no additional interest will accrue. Québec will pay all administrative costs imposed by banks in connection with making payments by wire transfer, but any tax, assessment or governmental charge imposed upon such payments will be borne by the Holder of this Note.

Foreign Currency Payments. If this Note is a Foreign Currency Note, the principal and premium, if any, and interest and Additional Amounts, if any, on this Note are payable by Québec in the Foreign Currency shown on the face hereof. Payment of principal and premium, if any, and interest and Additional Amounts, if any, will be made in the Foreign Currency by wire transfer to the Holder’s bank account and the Holder will not have the option to elect payment in U.S. dollars. If the Foreign Currency is not available for the payment of principal and premium, if any, and interest and Additional Amounts with respect to this Note due to the imposition of exchange controls or other circumstances beyond the control of Québec, Québec will be entitled to satisfy its obligations to the Holder of this Note by making such payment in U.S. dollars (i) on the basis of the Market Exchange Rate (as defined below) on the date of the payment, or (ii) if the Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate, or (iii) as the case may be, as otherwise specified in “Other Provisions” on the face hereof. In order for any Holder of this Note to receive payments of principal and premium, if any, and interest and Additional Amounts, if any, in the Foreign Currency by wire transfer, such Holder shall designate an appropriate bank account by filing the appropriate information with the Fiscal Agent at its corporate trust office in The City of New York on or prior to the applicable Record Date or at least sixteen days prior to the applicable Maturity Date, as the case may be. The Fiscal Agent will, subject to applicable laws and regulations and until it receives notice to the contrary, make such payment and all succeeding payments to such Holder by wire transfer to the designated account. If a payment cannot be made by wire transfer because the required information has not been received by the Fiscal Agent on or before the requisite date, a notice will be mailed to the Holder of this Note at its registered address requesting such information and until such information has been received, no additional interest will accrue. Québec will pay all administrative costs imposed by banks in connection with making payments by wire transfer, but any tax, assessment or governmental charge imposed upon such payments will be borne by the Holder of this Note.