Common use of Payment in Dollars Clause in Contracts

Payment in Dollars. (i) If, for the purposes of obtaining judgment in, or enforcing the judgment of, any court, it is necessary for any Person to convert a sum due hereunder in Dollars into another currency (the "Judgment Currency"), the ----------------- rate of exchange used shall be that at which in accordance with normal banking procedures such Person could purchase Dollars with the Judgment Currency on the Business Day preceding that on which final judgment is given or the order of enforcement made. (ii) The obligation of the Owner Trustee in respect of any sum due from it to any Person hereunder shall, notwithstanding any judgment or order of enforcement in such Judgment Currency, be discharged only to the extent that on the Business Day following that on which final judgment is given or the order of enforcement made, such Person may in accordance with normal banking procedures purchase Dollars with the Judgment Currency; if the Dollars so purchased are less than the sum originally due to such Person in Dollars, the Owner Trustee agrees, as a separate obligation and notwithstanding any such judgment or order of enforcement, to indemnify such Person against such loss attributable to any of its obligations hereunder, and if the Dollars so purchased exceed the sum originally due from the Owner Trustee, in Dollars, such Person shall remit to the Owner Trustee such excess. Any additional amount due from the Owner Trustee under this Section 9.15 will be due as a separate debt and shall not be affected by judgment or order of enforcement being obtained for any other sums due under or in respect of this Indenture or any other Operative Agreement.

Appears in 2 contracts

Samples: Trust Indenture and Security Agreement (Midway Airlines Corp), Trust Indenture and Security Agreement (Midway Airlines Corp)

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Payment in Dollars. (i) If, for All payments under the purposes of obtaining judgment in, or enforcing New Notes by the judgment of, any court, it is necessary for any Person undersigned pursuant to convert a sum due hereunder this Guarantee shall be made in Dollars into another currency (to the "Judgment Currency")holders for their ratable benefit by the method and at the address specified in the USPP Note Agreement. To the fullest extent permitted by applicable law, the ----------------- rate of exchange used shall be that at which in accordance with normal banking procedures such Person could purchase Dollars with the Judgment Currency on the Business Day preceding that on which final judgment is given or the order of enforcement made. (ii) The obligation obligations of the Owner Trustee undersigned in respect of any sum due from it to any Person hereunder shall, notwithstanding any judgment or order of enforcement in such Judgment Currency, be discharged only to the extent that on the Business Day following that on which final judgment is given or the order of enforcement made, such Person may in accordance with normal banking procedures purchase Dollars with the Judgment Currency; if the Dollars so purchased are less than the sum originally due to such Person in Dollars, the Owner Trustee agrees, as a separate obligation and notwithstanding any such judgment or order of enforcement, to indemnify such Person against such loss attributable to any of its obligations hereunder, and if the Dollars so purchased exceed the sum originally due from the Owner Trustee, in Dollars, such Person shall remit to the Owner Trustee such excess. Any additional amount due from the Owner Trustee under this Section 9.15 will be due as a separate debt and shall not be affected by judgment or order of enforcement being obtained for any other sums due under or in respect of this Indenture or Guarantee with respect to the New Notes shall (notwithstanding any payment in any other Operative Agreementcurrency, whether as a result of any judgment or order or the enforcement thereof or otherwise) be discharged only to the extent of the amount in Dollars that each holder entitled to receive such payment may, in accordance with normal banking procedures, purchase with the sum paid in such other currency (after any premium and costs of exchange) on the Business Day immediately following the day on which such holder receives such payment. If the amount in Dollars that may be so purchased for any reason falls short of the amount originally due, the undersigned shall indemnify and save harmless such holder from and against all loss or damage arising out of or as a result of such deficiency; if the amount in Dollars that may be so purchased exceeds the amount originally due, such holder shall remit to the undersigned for their ratable benefit such excess. This indemnity shall constitute an obligation separate and independent from the other obligations contained in this Guarantee, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by such holder from time to time and shall continue in full force and effect notwithstanding any judgment or order for a liquidated sum in respect of an amount due under this Guarantee or under any judgment or order.

Appears in 1 contract

Samples: Uspp Note Guarantee (Cemex Sab De Cv)

Payment in Dollars. (ia) If, for the purposes of obtaining judgment in, or enforcing the judgment of, any court, it is necessary for any Person to convert a sum due hereunder or under any other Operative Agreement in Dollars into another currency (the "Judgment Currency"), the ----------------- rate of exchange used shall be that at ----------------- which in accordance with normal banking procedures such Person could purchase Dollars with the Judgment Currency on the Business Day preceding that on which final judgment is given or the order of enforcement made. (iib) The obligation of the Owner Trustee Lessee in respect of any sum due from it to any Person hereunder or under any other Operative Agreement shall, notwithstanding any judgment or order of enforcement in such Judgment Currency, be discharged only to the extent that on the Business Day following that on which final judgment is given or the order of enforcement made, such Person may in accordance with normal banking procedures purchase Dollars with the Judgment Currency; if the Dollars so purchased are less than the sum originally due to such Person in Dollars, the Owner Trustee Lessee agrees, as a separate obligation and notwithstanding any such judgment or order of enforcement, to indemnify such Person against such loss attributable to any of its obligations hereunderhereunder or under any other Operative Agreement, and if the Dollars so purchased exceed the sum originally due from the Owner TrusteeLessee, in Dollars, such Person shall remit to the Owner Trustee Lessee such excess. Any additional amount due from the Owner Trustee Lessee under this Section 9.15 15.10 will be due as a separate debt and shall not be affected by judgment or order of enforcement being obtained for any other sums due under or in respect of this Indenture Agreement or any other Operative Agreement.

Appears in 1 contract

Samples: Participation Agreement (Midway Airlines Corp)

Payment in Dollars. (ia) If, for the purposes of obtaining judgment in, or enforcing the judgment of, any court, it is necessary for any Person to convert a sum due hereunder in Dollars into another currency (the "Judgment Currency"), the ----------------- rate of exchange used shall be that at which in accordance with normal banking procedures such Person could purchase Dollars with the Judgment Currency on the Business Day preceding that on which final judgment is given or the order of enforcement made. (iib) The obligation of the Owner Trustee Guarantor in respect of any sum due from it to any Person hereunder shall, notwithstanding any judgment or order of enforcement in such Judgment Currency, be discharged only to the extent that on the Business Day following that on which final judgment is given or the order of enforcement made, such Person may in accordance with normal banking procedures purchase Dollars with the Judgment Currency; if the Dollars so purchased are less than the sum originally due to such Person Persons in Dollars, the Owner Trustee Guarantor agrees, as a separate obligation and notwithstanding any such judgment or order of enforcement, to indemnify such any Person against such loss attributable to any of its obligations hereunder, and if the Dollars so purchased exceed the sum originally due from the Owner TrusteeGuarantor, in Dollars, such Person shall remit to the Owner Trustee Guarantor such excess. Any additional amount due from the Owner Trustee Guarantor under this Section 9.15 24 will be due as a separate debt and shall not be affected by judgment or order of enforcement being obtained for any other sums due under or in respect of this Indenture Guaranty or any other Operative AgreementDocument.

Appears in 1 contract

Samples: Guaranty (Skywest Inc)

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Payment in Dollars. (ia) If, for the purposes of obtaining judgment in, or enforcing the judgment of, any court, it is necessary for any Person to convert a sum due hereunder in Dollars into another currency (the "Judgment Currency"), the ----------------- rate of exchange used shall be that at which in accordance with normal banking procedures such Person could purchase Dollars with the Judgment Currency on the Business Day preceding that on which final judgment is given or the order of enforcement made. (iib) The obligation of the Owner Trustee Borrower in respect of any sum due from it to any Person hereunder shall, notwithstanding any judgment or order of enforcement in such Judgment Currency, be discharged only to the extent that on the Business Day following that on which final judgment is given or the order of enforcement made, such Person may in accordance with normal banking procedures purchase Dollars with the Judgment Currency; if the Dollars so purchased are less than the sum originally due to such Person Persons in Dollars, the Owner Trustee Borrower agrees, as a separate obligation and notwithstanding any such judgment or order of enforcement, to indemnify such any Person against such loss attributable to any of its obligations hereunder, and if the Dollars so purchased exceed the sum originally due from the Owner TrusteeBorrower, in Dollars, such Person shall remit to the Owner Trustee Borrower such excess. Any additional amount due from the Owner Trustee Borrower under this Section 9.15 9.16 will be due as a separate debt and shall not be affected by judgment or order of enforcement being obtained for any other sums due under or in respect of this Indenture Mortgage or any other Operative AgreementDocument.

Appears in 1 contract

Samples: Aircraft Mortgage and Security Agreement (Skywest Inc)

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