Common use of Selection of Dollars Clause in Contracts

Selection of Dollars. The selection of Dollars as the currency in which a Drawing is denominated is subject to the conditions of, and the observance of the restrictions to, conversion set out in Clause 3.3. The Borrower may in accordance with this Clause 3.1 select Dollars as the currency in which it wishes a Drawing to be denominated. A selection shall be made either by the Borrower: 3.1.1 specifying the Dollar amount to be advanced in the Drawdown Notice relating to the relevant Drawing; or 3.1.2 giving notice to the Agent to be received by the Agent not later than 9.00 a.m. London time five (5) Business Days prior to the commencement of the next Interest Period relating to the Drawing pursuant to Clause 5.2.