Common use of Redenomination and Alternate Currencies Clause in Contracts

Redenomination and Alternate Currencies. Each obligation of any party under this Agreement which has been denominated in the national currency unit of a non-member state which becomes a participating member state after the date of any Alternate Currency Loan made in the national currency unit of such state shall be Redenominated into the euro unit at the exchange rate set in accordance with EMU Legislation, provided, that if and to the extent that any EMU Legislation provides that an amount denominated either in the euro or in the national currency unit of a participating member state and payable within that participating member state by crediting an account of a creditor can be paid by a debtor either in the euro unit or in the national currency unit, each party to this Agreement shall be entitled to pay or repay any such amount either in the euro unit or in such national currency unit; provided, however, any amount paid in a national currency unit shall be paid at the fixed exchange rate in order to yield the required amount in euros.

Redenomination and Alternate Currencies. Each obligation of any party under this Agreement which has been denominated in the national currency unit National Currency Unit of a non-member state which becomes a participating member state Participating Member State after the date of any Alternate Currency Loan made in the national currency unit National Currency Unit of such state shall be Redenominated into the euro unit Euro Unit at the exchange rate set in accordance with EMU Legislation, provided, that if and to the extent that any EMU Legislation provides that an amount denominated either in the euro Euro or in the national currency unit National Currency Unit of a participating member state Participating Member State and payable within that participating member state Participating Member State by crediting an account of a creditor can be paid by a debtor either in the euro unit Euro Unit or in the national currency unitNational Currency Unit, each party to this Agreement shall be entitled to pay or repay any such amount either in the euro unit Euro Unit or in such national currency unitNational Currency Unit; provided, however, any amount paid in a national currency unit National Currency Unit shall be paid at the fixed exchange rate in order to yield the required amount in eurosEuros.

Redenomination and Alternate Currencies. Each obligation of any party under this Agreement which has been denominated in the national currency unit National Currency Unit of a non-member state country which becomes a participating member state Participating Member State after the date of any Alternate Currency Loan made in the national currency unit National Currency Unit of such state country shall be Redenominated into the euro unit Euro Unit at the exchange rate set in accordance with EMU Legislation, provided, that if and to the extent that any EMU Legislation provides that an amount denominated either in the euro Euro or in the national currency unit National Currency Unit of a participating member state Participating Member State and payable within that participating member state Participating Member State by crediting an account of a creditor can be paid by a debtor either in the euro unit Euro Unit or in the national currency unitNational Currency Unit, each party to this Agreement shall be entitled to pay or repay any such amount either in the euro unit Euro Unit or in such national currency unitNational Currency Unit; provided, however, any amount paid in a national currency unit National Currency Unit shall be paid at the fixed exchange rate in order to yield the required amount in eurosEuros.

Redenomination and Alternate Currencies. Each obligation of any party under this Agreement which has been denominated in the national currency unit National Currency Unit of a non-member state country which becomes a participating member state Participating Member State after the date of any Alternate Currency Loan Letter of Credit made in the national currency unit National Currency Unit of such state country shall be Redenominated into the euro unit Euro Unit at the exchange rate set in accordance with EMU Legislation, provided, that if and to the extent that any EMU Legislation provides that an amount denominated either in the euro Euro or in the national currency unit National Currency Unit of a participating member state Participating Member State and payable within that participating member state Participating Member State by crediting an account of a creditor can be paid by a debtor either in the euro unit Euro Unit or in the national currency unitNational Currency Unit, each party to this Agreement shall be entitled to pay or repay any such amount either in the euro unit Euro Unit or in such national currency unitNational Currency Unit; provided, however, any amount paid in a national currency unit National Currency Unit shall be paid at the fixed exchange rate in order to yield the required amount in eurosEuros.