Common use of Utilization of Alternative Currencies Clause in Contracts

Utilization of Alternative Currencies. (a) Each request for an Advance or Loan in an Alternative Currency under a Borrowing Notice or Competitive Bid Quote Request, as the case may be, shall constitute the Borrower’s request for a Loan of the Dollar Equivalent Amount of the amount of the Alternative Currency specified in such Borrowing Notice or Competitive Bid Quote Request, as the case may be, and for such Loan to be made available by the Lenders to the Borrower in the Alternative Currency Equivalent Amount (determined based on the Advance Date Exchange Rate applicable to such Advance or Loan). The principal amount outstanding on any Loan shall be recorded in the Agent’s records in Dollars (in the case of an Advance or Loan in an Alternative Currency as if the Loan had initially been made in Dollars), based on the Dollar Equivalent Amount of the initial Advance or Loan in an Alternative Currency, as reduced from time to time by the Dollar Equivalent Amount (based on the Advance Date Exchange Rate applicable to such Advance or Loan) of any principal payments with respect to such Advance or Loan. For the purposes of determining the maximum amount of Outstandings hereunder, it is intended by the parties that all Loans shall be the functional equivalent of Loans made and repaid (based on the applicable Advance Date Exchange Rate for each Advance) in Dollars. It is recognized that one or more Lenders may elect to record Loans or Advances in Alternative Currencies. The Agent shall maintain records sufficient to identify at any time (A) the Advance Date Exchange Rate with respect to each Advance and Loan and (B) the portion of the Outstandings attributable to each Advance. (b) The Borrower may elect to Continue a Eurocurrency Rate Loan pursuant to the terms of Section 3.2(b) and subject to the conditions set forth in this Section 2.3(b). In the event a Eurocurrency Rate Loan is Continued, such election to Continue the Eurocurrency Rate Loan shall be treated as an Advance and the Agent shall notify the Borrower and the Lenders of the Advance Date Exchange Rate, the Interest Period and the rate for such Continued Eurocurrency Rate Loan. The Lenders shall each be deemed to have made an Advance to the Borrower of its Applicable Commitment Percentage of each Revolving Loan in an Alternative Currency and the Agent shall apply the Advance Date Exchange Rate for such new Interest Period to such Continued Alternative Currency Equivalent Amount to determine the new Dollar Equivalent Amount of such Revolving Loan and shall adjust its books and the Revolving Credit Outstandings. In the event that such adjustment with respect to a Continued Revolving Loan would cause (x) the total Dollar Equivalent Amount of Outstandings to exceed the Total Revolving Credit Commitment or (y) the total Dollar Equivalent Amount of Outstandings in Alternative Currencies to exceed the Total Alternative Currency Sublimit, the Borrower shall, immediately on the effective date of such Continuation, repay (a “Rate Adjustment Payment”) the portion of such Continued Revolving Loan (applying the new Advance Date Exchange Rate) necessary to ensure that (xx) the Dollar Equivalent Amount of all Outstandings does not exceed the Total Revolving Credit Commitment and (yy) the Dollar Equivalent Amount of all Outstandings in Alternative Currencies does not exceed the Total Alternative Currency Sublimit, provided, however, that the Borrower shall not be required to pay any additional compensation pursuant to Section 4.5 with respect to a prepayment of a Revolving Loan required by this sentence if such prepayment is made immediately on the effective date of the Continuation giving rise to such prepayment and no notice of such prepayment shall be required. If the Agent does not receive an Interest Rate Selection Notice giving notice of election of the duration of an Interest Period or Continuation of a Eurocurrency Rate Loan by the time prescribed in Sections 2.1(c)(i) or 3.2(b) , as applicable, the Borrower shall be deemed to have elected to Continue such Eurocurrency Rate Loan and selected an Interest Period of one month. The Borrower shall not be entitled to elect to Continue any Eurocurrency Rate Loan if a Default or Event of Default shall have occurred and be continuing.

Utilization of Alternative Currencies. (a) All Loans in Alternative Currencies shall be Offshore Rate Loans. (b) Each request for an Advance or a Loan in an Alternative Currency under a Borrowing Notice or Competitive Bid Quote Request, as the case may be, shall constitute the applicable Borrower’s request for a Loan of the Dollar Euro Equivalent Amount of the amount of the Alternative Currency specified in such Borrowing Notice or Competitive Bid Quote Request, as the case may beNotice, and for such Loan to be made available by the Lenders to the applicable Borrower in the Alternative Currency Equivalent Amount of such Euro Equivalent Amount (determined based on the Advance Borrowing Date Exchange Rate applicable to such Advance or Loan). The principal amount outstanding on any Loan shall be recorded in the Agent’s records in Dollars Euros (in the case of an Advance or a Loan in an Alternative Currency as if the Loan had initially been made in DollarsEuros), based on the Dollar Euro Equivalent Amount of the initial Advance or Loan in an Alternative Currency, as reduced from time to time by the Dollar Euro Equivalent Amount (based on the Advance Borrowing Date Exchange Rate applicable to such Advance or Loan) of any principal payments with respect to such Advance or Loan. For Except to the extent provided in the proviso to the definition of the term “Euro Equivalent Amount”, for the purposes of determining the maximum amount of Outstandings hereunder, it is intended by the parties that all Loans shall be the functional equivalent of Loans made and repaid (based on the applicable Advance Borrowing Date Exchange Rate for each AdvanceLoan) in DollarsEuros. It is recognized that one or more Lenders may elect to record Loans or Advances in Alternative Currencies. The Agent shall maintain records sufficient to identify at any time (A) the Advance Borrowing Date Exchange Rate with respect to each Advance and Loan and (B) the portion of the Outstandings attributable to each AdvanceLoan. (bc) The Any Borrower may elect to Continue a Eurocurrency an Offshore Rate Loan pursuant to the terms of Section 3.2(b) 3.2 and subject to the conditions set forth in this Section 2.3(b2.2(c). In the event a Eurocurrency an Offshore Rate Loan is Continued, such election to Continue the Eurocurrency Offshore Rate Loan shall be treated as an Advance a Loan, and the Agent shall notify the applicable Borrower and the applicable Lenders of the Advance Borrowing Date Exchange Rate, the Interest Period and the rate for such Continued Eurocurrency Offshore Rate Loan. The Lenders shall each be deemed to have made an Advance a Loan to the applicable Borrower of its Applicable Commitment Percentage of each Revolving Loan in an Alternative Currency Currency, and the Agent shall apply the Advance Borrowing Date Exchange Rate for such new Interest Period to such Continued Alternative Currency Equivalent Amount to determine the new Dollar Euro Equivalent Amount of such Revolving Loan and shall adjust its books and the Revolving Credit Outstandings. In the event that such adjustment with respect to a Continued Revolving Loan would cause (x) the total Dollar Euro Equivalent Amount of Outstandings to exceed the Total Revolving Credit Commitment or (y) the total Dollar Equivalent Amount of Outstandings in Alternative Currencies to exceed the Total Alternative Currency SublimitCommitment, the Borrower Borrowers shall, immediately on the effective date of such Continuation, repay (a “Rate Adjustment Payment”) the portion of such Continued Revolving Loan (applying the new Advance Borrowing Date Exchange Rate) necessary to ensure that (xx) the Dollar Euro Equivalent Amount of all Outstandings does not exceed the Total Revolving Credit Commitment and (yy) the Dollar Equivalent Amount of all Outstandings in Alternative Currencies does not exceed the Total Alternative Currency SublimitCommitment, provided, however, that the no Borrower shall not be required to pay any additional compensation pursuant to Section 4.5 4.4 with respect to a prepayment of a Revolving Loan required by this sentence if such prepayment is made immediately on the effective date of the Continuation giving rise to such prepayment and no notice of such prepayment shall be required. If the Agent does not receive an Interest Rate Selection Notice giving notice of election of the duration of an Interest Period or Continuation of a Eurocurrency an Offshore Rate Loan by the time prescribed in Sections 2.1(c)(i2.1(c) or 3.2(b) 3.2, as applicable, the applicable Borrower shall be deemed to have elected to Continue such Eurocurrency Offshore Rate Loan and selected as a Loan of the same Type in the same Alternative Currency for an Interest Period of one month. The No Borrower shall not be entitled to elect to Continue any Eurocurrency Offshore Rate Loan in an Alternative Currency if a Default or Event of Default shall have occurred and be continuing.

Utilization of Alternative Currencies. (a) All RC Loans in Alternative Currencies shall be Offshore Rate Loans. (b) Each request for an Advance or RC Loan in an Alternative Currency under a Borrowing Notice or Competitive Bid Quote Request, as the case may be, shall constitute the applicable RC Borrower’s 's request for a an RC Loan of the Dollar Euro Equivalent Amount of the amount of the Alternative Currency specified in such Borrowing Notice or Competitive Bid Quote Request, as the case may beNotice, and for such RC Loan to be made available by the RC Lenders to the applicable RC Borrower in the Alternative Currency Equivalent Amount of such Euro Equivalent Amount (determined based on the Advance Borrowing Date Exchange Rate applicable to such Advance or RC Loan). The principal amount outstanding on any RC Loan shall be recorded in the Agent’s 's records in Dollars Euros (in the case of an Advance or RC Loan in an Alternative Currency as if the RC Loan had initially been made in DollarsEuros), based on the Dollar Euro Equivalent Amount of the initial Advance or RC Loan in an Alternative Currency, as reduced from time to time by the Dollar Euro Equivalent Amount (based on the Advance Borrowing Date Exchange Rate applicable to such Advance or RC Loan) of any principal payments with respect to such Advance or RC Loan. For Except to the extent provided in the proviso to the definition of the term "Euro Equivalent Amount", for the purposes of determining the maximum amount of RC Outstandings hereunder, it is intended by the parties that all RC Loans shall be the functional equivalent of RC Loans made and repaid (based on the applicable Advance Borrowing Date Exchange Rate for each AdvanceRC Loan) in DollarsEuros. It is recognized that one or more Lenders may elect to record RC Loans or Advances in Alternative Currencies. The Agent shall maintain records sufficient to identify at any time (A) the Advance Borrowing Date Exchange Rate with respect to each Advance and RC Loan and (B) the portion of the RC Outstandings attributable to each AdvanceRC Loan. (bc) The Any Borrower may elect to Continue a Eurocurrency an Offshore Rate Loan pursuant to the terms of Section 3.2(b) 3.2 and subject to the conditions set forth in this Section 2.3(b2.2(c). In the event a Eurocurrency an Offshore Rate Loan is Continued, such election to Continue the Eurocurrency Offshore Rate Loan shall be treated as an Advance RC Loan, and the Agent shall notify the applicable Borrower and the applicable Lenders of the Advance Borrowing Date Exchange Rate, the Interest Period and the rate for such Continued Eurocurrency Offshore Rate Loan. The RC Lenders shall each be deemed to have made an Advance RC Loan to the applicable RC Borrower of its Applicable Commitment Percentage of each Revolving RC Loan in an Alternative Currency Currency, and the Agent shall apply the Advance Borrowing Date Exchange Rate for such new Interest Period to such Continued Alternative Currency Equivalent Amount to determine the new Dollar Euro Equivalent Amount of such Revolving RC Loan and shall adjust its books and the Revolving Credit RC Outstandings. In the event that such adjustment with respect to a Continued Revolving RC Loan would cause (x) the total Dollar Euro Equivalent Amount of RC Outstandings to exceed the Total Revolving Credit Commitment or (y) the total Dollar Equivalent Amount of Outstandings in Alternative Currencies to exceed the Total Alternative Currency SublimitRC Commitment, the Borrower RC Borrowers shall, immediately on the effective date of such Continuation, repay (a “"Rate Adjustment Payment”") the portion of such Continued Revolving RC Loan (applying the new Advance Borrowing Date Exchange Rate) necessary to ensure that (xx) the Dollar Euro Equivalent Amount of all RC Outstandings does not exceed the Total Revolving Credit Commitment and (yy) the Dollar Equivalent Amount of all Outstandings in Alternative Currencies does not exceed the Total Alternative Currency SublimitRC Commitment, provided, however, that the no RC Borrower shall not be required to pay any additional compensation pursuant to Section 4.5 4.4 with respect to a prepayment of a Revolving an RC Loan required by this sentence if such prepayment is made immediately on the effective date of the Continuation giving rise to such prepayment and no notice of such prepayment shall be required. If the Agent does not receive an Interest Rate Selection Notice giving notice of election of the duration of an Interest Period or Continuation of a Eurocurrency an Offshore Rate Loan by the time prescribed in Sections 2.1(c)(i2.1(c) or 3.2(b) 3.2, as applicable, the applicable Borrower shall be deemed to have elected to Continue such Eurocurrency Offshore Rate Loan and selected as a Loan of the same Type in the same Alternative Currency for an Interest Period of one month. The No Borrower shall not be entitled to elect to Continue any Eurocurrency Offshore Rate Loan in an Alternative Currency if a Default or Event of Default shall have occurred and be continuing.