Optional Currencies. 25 8. Repayment....................................................... 29 9.
Optional Currencies amend the Credit Agreement to provide that the Revolving Facility Commitments may also be utilised in currencies other than EUR on the basis set out in recent Liberty precedent which contain a revolving credit facility.
Optional Currencies. (a) The Borrowers may elect, prior to the Maturity Date, to draw down or convert a portion of the funds available under this Agreement in, or to, an Optional Currency, provided that the aggregate principal amount of -------- Multicurrency Loans outstanding under this Agreement immediately following any such drawdown of conversion shall not exceed the Dollar amount of the Multicurrency Commitment, that the aggregate principal amount of Loans outstanding under this Agreement immediately following any such drawdown or conversion shall not exceed the Dollar amount of the Total Commitment, and that any funds proposed to be converted at any one time under this (S)4.5 shall be in amounts of not less than U.S. $500,000 and shall be an integral multiple thereof, or the equivalent in any Optional Currency. In order to exercise the foregoing option the Borrowers must deliver to the Paris Affiliate, which shall promptly give to the Lenders notice thereof, a written notice, subject to any other notice requirements under this Agreement, designating the currency into which the designated portion of the Loan is to be drawn down or, as the case may be converted, at least four (4) Eurocurrency Business Days prior to the commencement of the subsequent Interest Period relating to such portion of the Loan and any such conversion shall be effected on such date. If any such notice is not delivered to the Paris Affiliate by the Borrowers within the required time, the Borrowers shall be deemed to have amount of the Loan continue to be denominated in the currency in which it then currently stands denominated. No Interest Period shall have an interest payment date which occurs after the Maturity Date.
(b) If the Agent determines (which determination shall be conclusive), on or prior to the second Business Day preceding the first day of any Interest Period during which a portion of the principal of the Loan is to be denominated in any Optional Currency, that the currency is not freely transferable and convertible into Dollars or that it will be impracticable for any Lender to fund the Multicurrency Loan in such currency, then the Agent shall notify the Borrowers and the Multicurrency Loans shall, notwithstanding any contrary election by the Borrowers or any other provisions hereof, be denominated in Dollars.
(c) For all purposes of this Agreement, except as provided in (S)5.16, the amount in one currency which shall be equivalent on any particular date to a specified amount in anothe...
Optional Currencies. 22 2.9.1. Request for Optional Currency..............................................22 2.9.2. Exchange Rate. ...........................................................23 2.9.3. Multiple Denominations. ..................................................23 2.9.4. Repayment. ...............................................................23 2.9.5. Funding. .................................................................24 2.10. Change in Borrowing Base. ..........................................................24 2.11.
Optional Currencies. (a) If before the Specified Time on the Quotation Day for the relevant Revolving Facility or Additional Facility Loan:
(i) a Lender notifies the Facility Agent that the relevant Optional Currency is not readily available to it in the amount required; or
(ii) a Lender notifies the Facility Agent that compliance with its obligation to participate in the relevant Loan in the proposed Optional Currency would contravene a law or regulation applicable to it, the Facility Agent will give notice to the relevant Borrowers to that effect by the Specified Time. In this event, any Lender that gives notice pursuant to this paragraph (a) will be required to participate in the relevant Loan in euros (in an amount equal to the euro equivalent (calculated using the Facility Agent’s Spot Rate of Exchange at the relevant time) of that Lender’s proportion of the relevant Loan (calculated based on the proportion of such Lender’s Available Commitment in respect of the relevant Facility, the relevant Borrower(s) and the relevant currency to the relevant Available Facility) or, in respect of a Rollover Loan, an amount equal to the euro equivalent (calculated using the Facility Agent’s Spot Rate of Exchange at the relevant time) of that Lender’s proportion of any amount that the Lenders are actually required to advance in accordance with Clause 8.2 (Rollover Loans)) (calculated based on the proportion of such Lender’s share of such loan to the total amount thereof), and its participation will be treated as a separate Loan denominated in euros during that Interest Period.
(b) Any part of a Loan treated as a separate Loan under this Clause 5.5 will not be taken into account for the purposes of any limit on the number of Loans, or currencies outstanding at any one time.
Optional Currencies. Any agreement for a Note Transaction for a Note denominated in a currency other than Sterling or euro shall be conditional upon:
(a) it being lawful and in compliance with all requirements of any relevant central bank and any other relevant fiscal, monetary, regulatory or other authority from time to time, for deposits to be made in such currency and for such Note to be issued, offered for sale, sold and delivered as contemplated by such Note Transaction;
(b) such other currency being freely transferable and freely convertible into euro;
(c) the consent of the Agent to that currency having been given; and
(d) any appropriate amendments which the relevant Dealer and/or the Issuer shall require having been made to this Agreement and any appropriate amendments which the Issuer and/or the Agent shall require having been made to the Agency Agreement.
Optional Currencies. In the case of a UK Credit Extension to be denominated in an Optional Currency, there shall not have occurred any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which in the reasonable opinion of the Agent, the Required Lenders (in the case of any UK Loans to be denominated in an Optional Currency) or the Issuing Bank (in the case of any UK Letter of Credit to be denominated in an Optional Currency) or the UK Swingline Lender (in the case of any UK Swingline Loan to be denominated in an Optional Currency) would make it impracticable for such UK Credit Extension to be denominated in the relevant Optional Currency.
Optional Currencies. 21 10. PAYMENTS.....................................................................................................24 11. TAXES........................................................................................................26 17. UNDERTAKINGS.................................................................................................39 18. DEFAULT......................................................................................................52 19.
Optional Currencies. 23 SECTION 4 REPAYMENT, PREPAYMENT AND CANCELLATION
Optional Currencies. 10.1 SELECTION
(a) The Company may select the currency of a Loan for an Interest Period in the relevant Request.
(b) The currency of each Loan must be Sterling or an Optional Currency.
(c) If the Company fails to give a notice in respect of an outstanding Loan in accordance with paragraph (a) above, that Loan will be denominated in Sterling.
