Common use of Introduction of Euro Clause in Contracts

Introduction of Euro. For the avoidance of doubt, the parties hereto affirm and agree that neither the fixation of the conversion rate of any Offshore Currency of a country that is a member of the European Union against the Euro as a single currency, in accordance with the Treaty Establishing the European Economic Community, as amended by the Treaty on the European Union (the Maastricht Treaty), nor the conversion of any Obligations under the Loan Documents from an Offshore Currency of a country that is a member of the European Union into Euro, shall require the early termination of this Agreement or the prepayment of any amount due under the Loan Documents or create any liability of one party to another party for any direct or consequential loss arising from any of such events. As of the date that any such Offshore Currency is no longer the lawful currency of its respective country, all payment obligations under the Loan Documents that would otherwise be in such Offshore Currency shall thereafter by satisfied in Euro.

Introduction of Euro. For the avoidance of doubt, the -------------------- parties hereto affirm and agree that neither the fixation of the conversion rate of any Offshore Designated Currency of a country that is a member of the European Union against the Euro as a single currency, in accordance with the Treaty Establishing the European Economic Community, as amended by the Treaty on the European Union (the Maastricht Treaty), nor the conversion of any Obligations Loans or other obligations under the Loan Documents this Agreement from an Offshore a Designated Currency of a country that is a member of the European Union into EuroEuros, shall require the early termination of this Agreement or the prepayment of any amount due under the Loan Documents this Agreement or create any liability of one party to another party for any direct or consequential loss arising from any of such events. As of the date that any such Offshore Designated Currency is no longer the lawful currency of its respective country, all payment obligations under the Loan Documents this Agreement that would otherwise be in such Offshore Designated Currency shall thereafter by satisfied in EuroEuros.