Common use of Payment of U.S. Dollar Equivalent Clause in Contracts

Payment of U.S. Dollar Equivalent. Notwithstanding any other provisions in these Terms and Conditions, if by reason of Inconvertibility (as defined below), Non-transferability (as defined below) or Illiquidity (as defined below), the Issuer determines in good faith and in a commercially reasonable manner that it is not able, or it would be impracticable for it, to satisfy payments due under the Notes or Coupons in Renminbi in Hong Kong or such RMB Settlement Centre(s) as may be specified in the applicable Final Terms, the Issuer shall settle any such payment in U.S. dollars on the due date for payment at the U.S. Dollar Equivalent of any such Renminbi denominated amount and give notice thereof (including details thereof) as soon as practicable to the Noteholders in accordance with Condition 16. In such event, payments of the U.S. Dollar Equivalent of the relevant amounts due under the Notes or Coupons shall be made in accordance with Condition 5(a). In this Condition 5(h):

Appears in 3 contracts

Samples: Agency Agreement (Toyota Motor Credit Corp), Agency Agreement (Toyota Motor Credit Corp), Agency Agreement (Toyota Motor Credit Corp)

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Payment of U.S. Dollar Equivalent. Notwithstanding any other provisions in these Terms and Conditions, if by reason of Inconvertibility (as defined below), Non-transferability (as defined below) or Illiquidity (as defined below), the Issuer determines in good faith and in a commercially reasonable manner that it is not able, or it would be impracticable for it, to satisfy payments due under the Notes or Coupons in Renminbi in Hong Kong or such RMB Settlement Financial Centre(s) as may be specified in the applicable Final Terms, the Issuer shall settle any such payment in U.S. dollars on the due date for payment at the U.S. Dollar Equivalent of any such Renminbi denominated amount and give notice thereof (including details thereof) as soon as practicable to the Noteholders in accordance with Condition 16. In such event, payments of the U.S. Dollar Equivalent of the relevant amounts due under the Notes or Coupons shall be made in accordance with Condition 5(a). In this Condition 5(h):

Appears in 1 contract

Samples: Agency Agreement (Toyota Motor Credit Corp)

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Payment of U.S. Dollar Equivalent. Notwithstanding any other provisions in these Terms and Conditions, if by reason of Inconvertibility (as defined below), Non-transferability (as defined below) or Illiquidity (as defined below), the Issuer (or the Guarantor, as the case may be) determines in good faith and in a commercially reasonable manner that it is not able, or it would be impracticable for it, to satisfy payments due under the Notes or Coupons (or the Guarantee, as the case may be) in Renminbi in Hong Kong or such RMB Settlement Centre(s) as may be specified in the applicable Final TermsKong, the Issuer or the Guarantor shall settle any such payment in U.S. dollars on the due date for payment at the U.S. Dollar Equivalent of any such Renminbi denominated amount and give notice thereof (including details thereof) as soon as practicable to the Noteholders in accordance with Condition 1614. In such event, payments of the U.S. Dollar Equivalent of the relevant amounts due under the Notes or Coupons (or the Guarantee, as the case may be) shall be made in accordance with Condition 5(a). In this Condition 5(h5(g):

Appears in 1 contract

Samples: www.nestle.com

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