Common use of Unavailability of a currency Clause in Contracts

Unavailability of a currency. If before the Specified Time on any Quotation Day in relation to a Loan: (a) the Agent has received notice from a Lender that the Optional Currency requested is not readily available to it in the amount required or it has received a notice from a Euro-only Lender; or (b) a Lender notifies the Agent that compliance with its obligation to participate in a Loan in the proposed Optional Currency would contravene a law or regulation applicable to it; the Agent will give notice to the relevant Borrower to that effect by the Specified Time on that day. In this event, any Lender that gives notice pursuant to this Clause 6.2 will be required to participate in the Loan in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount or, in respect of a Rollover Loan, an amount equal to that Lender’s proportion of the Base Currency Amount of the maturing Loan that is due to be repaid) and its participation will be treated as a separate Loan denominated in the Base Currency during that Interest Period.

Appears in 3 contracts

Samples: Facilities Agreement (Sappi LTD), Credit Agreement (Sappi LTD), Credit Agreement (Sappi LTD)

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Unavailability of a currency. If before the Specified Time on any Quotation Day in relation to a LoanDay: (a) the Facility Agent has received notice from a Lender that the Optional Currency (other than Dollars or Sterling) requested is not readily available to it in the amount required or it has received a notice from a Euro-only Lenderrequired; or (b) a Lender notifies the Facility Agent that compliance with its obligation to participate in a Loan an Advance in the proposed Optional Currency (other than Dollars or Sterling) would contravene a law or regulation applicable to it; , the Facility Agent will give notice to the relevant Borrower to that effect by the Specified Time on that day. In this event, any Lender that gives notice pursuant to this Clause 6.2 will be required to participate in the Loan Advance in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount or, in respect of a Rollover LoanAdvance, an amount equal to that Lender’s proportion of the Base Currency Amount of the maturing Loan Advance that is due to be repaid) and its participation will be treated as a separate Loan Advance denominated in the Base Currency during that Interest Period.

Appears in 2 contracts

Samples: Credit Agreement (France Telecom /), Credit Agreement (France Telecom /)

Unavailability of a currency. If If, before the Specified Time on any Quotation Day in relation to a LoanLoan denominated in an Optional Currency: (a) the Facility Agent has received notice from a Lender that the Optional Currency requested is not readily available to it in the amount required or it has received a notice from a Euro-only Lenderrequired; or (b) a Lender notifies the Facility Agent that compliance with its obligation to participate in a Loan in the proposed Optional Currency would contravene a law or regulation applicable to it; , the Facility Agent will give notice to the relevant Borrower Obligors’ Agent to that effect by the Specified Time on that day. In this event, any Lender that gives notice pursuant to this Clause 6.2 11.2 will be required to participate in the Loan in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount or, in respect of a Rollover Loan, an amount equal to that Lender’s proportion of the Base Currency Amount of the maturing Rollover Loan that is due to be repaidmade) and its participation will be treated as a separate Loan denominated in the Base Currency during that Interest Period.

Appears in 2 contracts

Samples: Multicurrency Term and Revolving Facilities and Subscription Agreement (BHP Billiton LTD), Facility and Subscription Agreement (BHP Billiton PLC)

Unavailability of a currency. If before the Specified Time on any Quotation Day in relation to a LoanDay: (a) a Revolving Facility Lender notifies the Agent has received notice from a Lender that the Optional Currency requested is not readily available to it in the amount required or it has received a notice from a Euro-only Lenderrequired; or (b) a Revolving Facility Lender notifies the Agent that compliance with its obligation to participate in a Loan Utilisation in the proposed Optional Currency would contravene a law or regulation applicable to it; , the Agent will give notice to the relevant Borrower to that effect by the Specified Time on that day. In this event, any Revolving Facility Lender that gives notice pursuant to this Clause 6.2 8.2 will be required to participate in the Loan Utilisation in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount or, in respect of a Rollover Loan, an amount equal to that Lender’s proportion of the Base Currency Amount of the maturing Rollover Loan that is due to be repaidmade) and its participation will be treated as a separate Loan Utilisation denominated in the Base Currency during that Interest Period.

Appears in 2 contracts

Samples: Senior Facility Agreement (Inmarsat Launch CO LTD), Senior Facility Agreement (Inmarsat Holdings LTD)

Unavailability of a currency. If before the Specified Time on any Quotation Day in relation to a LoanDay: (a) the Agent has received notice from a Lender notifies the Facility Agent that the Optional Currency requested is not readily available to it in the amount required or it has received a notice from a Euro-only Lenderrequired; or (b) a Lender notifies the Facility Agent that compliance with its obligation to participate in a Loan in the proposed Optional Currency would contravene a law or regulation applicable to it; , then the Facility Agent will give notice to the relevant Revolving Facility Borrower to that effect by the Specified Time on that day. In this event, any Lender that gives notice pursuant to this Clause 6.2 9.2 will be required to participate in the Loan in the Base Currency (in an amount equal to that Lender’s 's proportion of the Base Currency Amount orAmount, or in respect of a Rollover Loan, an amount equal to that Lender’s 's proportion of the Base Currency Amount of the maturing Rollover Loan that is due to be repaidmade) and its participation will be treated as a separate Loan denominated in the Base Currency during that Interest Period.

Appears in 1 contract

Samples: Senior Facilities Agreement (NDS Group PLC)

Unavailability of a currency. If before the Specified Time on any Quotation Day in relation to a LoanDay: (a) the Facility Agent has received notice from a Lender that the Optional Currency (other than Euro or Sterling) requested is not readily available to it in the amount required or it has received a notice from a Euro-only Lenderrequired; or (b) a Lender notifies the Facility Agent that compliance with its obligation to participate in a Loan an Advance in the proposed Optional Currency (other than Euro or Sterling) would contravene a law or regulation applicable to it; , the Facility Agent will give notice to the relevant Borrower to that effect by the Specified Time on that day. In this event, any Lender that gives notice pursuant to this Clause 6.2 will be required to participate in the Loan Advance in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount or, in respect of a Rollover LoanAdvance, an amount equal to that Lender’s proportion of the Base Currency Amount of the maturing Loan Advance that is due to be repaid) and its participation will be treated as a separate Loan Advance denominated in the Base Currency during that Interest Period.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Agreement (Abb LTD)

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Unavailability of a currency. If before the Specified Time on any Quotation Day in relation to a LoanDay: (a) the Agent has received notice from a Lender that the Optional Currency requested is not readily available to it in the amount required or it has received a notice from a Euro-only Lenderrequired; or (b) a Lender notifies the Agent that compliance with its obligation to participate in a Facility B Loan in the proposed Optional Currency would contravene a law or regulation applicable to it; , the Agent will give notice to the relevant Borrower to that effect by the Specified Time on that day. In this event, any Lender that gives notice pursuant to this Clause 6.2 will be required to participate in the Facility B Loan in the Base Currency (in an amount equal to that Lender’s 's proportion of the Base Currency Amount or, in respect of a Rollover Loan, an amount equal to that Lender’s 's proportion of the Base Currency Amount of the maturing Facility B Loan that is due to be repaid) and its participation will be treated as a separate Facility B Loan denominated in the Base Currency during that Interest Period.

Appears in 1 contract

Samples: Facility Agreement (Inveresk Research Group Inc)

Unavailability of a currency. If before the Specified Time on any Quotation Day the relevant date specified in relation to a Loan:Schedule 10 (Timetables): (a) the Agent has received notice from a Lender that the Optional Currency requested (unless that Optional Currency is sterling or euro) is not readily available to it in the amount required or it has received a notice from a Euro-only Lenderrequired; or (b) a Lender notifies the Agent that compliance with its obligation to participate in a Loan in the proposed Optional Currency would contravene a law or regulation applicable to it; , the Agent will give notice to the relevant Borrower to that effect by the Specified Time on that day. In this event, any Lender that gives notice pursuant to this Clause 6.2 will be required to participate in the Loan in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount or, in respect of a Rollover Loan, that Loan or an amount equal to that Lender’s proportion of the Base Currency Amount of the maturing Rollover Loan that is due to be repaidmade) and its participation will be treated as a separate Loan denominated in the Base Currency during that Interest Period.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Facility Agreement (Misys PLC)

Unavailability of a currency. If before the Specified Time on any Quotation Day in relation to a LoanDay: (ai) a Lender notifies the Agent has received notice from a Lender that the Optional Currency (other than an Optional Currency which is dollars or kroner) requested is not readily available to it in the amount required or it has received a notice from a Euro-only Lenderrequired; or (bii) a Lender notifies the Agent that compliance with its obligation to participate in a Loan in the proposed Optional Currency would contravene a law or regulation applicable to it; , the Agent will give notice to the relevant Borrower to that effect by the Specified Time on that day. In this event, any Lender that gives notice pursuant to this Clause 6.2 14.2 will be required to participate in the Loan in the Base Currency (in an amount equal to that Lender’s 's proportion of the Base Currency Amount or, in respect of a Rollover Loan, an amount equal to that Lender’s 's proportion of the Base Currency Amount of the maturing Loan that is due to be repaidmade) and its participation will be treated as a separate Loan denominated in the Base Currency during that Interest Period.

Appears in 1 contract

Samples: Third Amendment Agreement (Kronos International Inc)

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