INVESTMENT AND CURRENCY EXCHANGE Sample Clauses

INVESTMENT AND CURRENCY EXCHANGE. The Collateral Trustee shall invest or reinvest cash deposited in any Collateral Account, without distinction between principal and income, in The Bank of New York's Cash Reserves Fund or other similar investment. The Collateral Trustee shall have no liability for any loss arising from or related to any such investment. The Collateral Trustee may hold cash in any currency, provided, however, that whenever legally possible, such cash will be held in Dollars, and may deposit such cash with one or more of its subsidiaries or affiliates or one or more co-trustees. In each country in which cash is held, it will be held in currencies which may be legally held in such country and (except as otherwise provided above) may be held in non-interest bearing, commingled bank accounts. None of the Collateral Trustee, any of its subsidiaries or affiliates or any co-trustee shall be liable for any fluctuations or changes in foreign exchange rates, which shall be the sole risk and liability of the Company and the Grantors, or shall be required to substitute one currency for any other currency in any Collateral Account. In no event shall the Collateral Trustee, any of its subsidiaries or affiliates or any co-trustee be liable (i) for holding Collateral or other property in any particular country, including, but not limited to, losses resulting from nationalization, expropriation or other governmental actions; regulation of the banking or securities industry; exchange or currency controls or restrictions, devaluations or fluctuations; availability of cash or securities or market conditions which prevent the transfer of property or the execution of securities transactions or affect the value of property, or (ii) for any losses due to forces beyond its control, including, without limitation, strikes, work stoppages, natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services. In no event shall the Collateral Trustee, any of its subsidiaries or affiliates or any co-trustee be obligated to substitute another currency for a currency whose transferability, convertibility or availability has been affected, limited, prohibited or prevented by law, regulation or other event. The Collateral Trustee, any of its subsidiaries or affiliates or any co-trustee is hereby authorized to convert cash on deposit in any Collateral Account or otherwise held by it in a currency other than Dollars to Dollars at...
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INVESTMENT AND CURRENCY EXCHANGE. 12.1 The Bank may invest and reinvest the Resources pending their actual disbursement. Any income earned from such investment of the Resources will be credited to the respective Bank Accounts and will be available for use in accordance with this Agreement.
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Related to INVESTMENT AND CURRENCY EXCHANGE

  • Foreign Currency Exchange Unless the Depositor shall otherwise direct, whenever funds are received by the Trustee in foreign currency, upon the receipt thereof or, if such funds are to be received in respect of a sale of Securities, concurrently with the contract of the sale for the Security (in the latter case the foreign exchange contract to have a settlement date coincident with the relevant contract of sale for the Security), the Trustee shall enter into a foreign exchange contract for the conversion of such funds to U.S. dollars pursuant to the instruction of the Depositor. The Trustee shall have no liability for any loss or depreciation resulting from action taken pursuant to such instruction."

  • Currency Exchange All payments under this Agreement shall be payable, in full, in Dollars, regardless of the country(ies) in which sales are made. For the purposes of computing Net Sales of Licensed Products that are sold in a currency other than Dollars, such currency shall be converted into Dollars as calculated at the rate of exchange for the pertinent quarter or year to date, as the case may be, as used by Celgene in producing its quarterly and annual accounts, as confirmed by their respective auditors.

  • Currency; Exchange Rate All payments under this Agreement shall be payable in U.S. Dollars. The rate of exchange to be used in computing the amount of currency equivalent in U.S. Dollars for calculating Net Sales in a Calendar Quarter (for purposes of both the royalty calculation and whether a Net Sales milestone has been achieved) shall be made at the average exchange rate as published by the Wall Street Journal for such Calendar Quarter, or such other source as the Parties may agree in writing.

  • Blocked Currency In each country where the local currency is blocked and cannot be removed from the country, royalties accrued on Net Sales in that country shall be paid in the equivalent amount in Dollars.

  • Selection of currency A Borrower (or the Company on behalf of a Borrower) shall select the currency of a Loan in a Utilisation Request.

  • Alternative Currency In the case of a Credit Extension to be denominated in an Alternative Currency, such currency remains an Eligible Currency.

  • Conversion of Currency (a) The Company covenants and agrees that the following provisions shall apply to conversion of currency in the case of the Securities and this Indenture:

  • Currency and Funds of Payment All Guarantors’ Obligations for payment will be paid in lawful currency of the United States of America and in immediately available funds, regardless of any law, regulation or decree now or hereafter in effect that might in any manner affect the Guaranteed Liabilities, or the rights of any Secured Party with respect thereto as against the Borrower or any other Loan Party, or cause or permit to be invoked any alteration in the time, amount or manner of payment by the Borrower or any other Loan Party of any or all of the Guaranteed Liabilities.

  • Judgement Currency If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Loan Document 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 the Borrower or any other Loan Party in respect of any such sum due from it to the Agents or the Secured Parties hereunder or under the other Loan Documents 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 this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent 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 the Administrative Agent from the Borrower or any Secured Party in the Agreement Currency, the Borrower and Secured Party agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or the Person to whom such obligation was owing against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent in such currency, the Administrative Agent agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under applicable law).

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