Alternative Payment Currency definition

Alternative Payment Currency means the currency, which may be Offshore RMB, specified as such in the relevant Final Terms;

Alternative Payment Currency means U.S. dollars, Pound sterling or Swiss francs or, if for reasons beyond its control the Russian Federation is unable to make payments of principal or interest (in whole or in part) in respect of the Bonds in any of these currencies, Russian roubles.

Alternative Payment Currency means Euros, Pound sterling or Swiss francs, as selected by the Russian Federation.

Examples of Alternative Payment Currency in a sentence

• In the case of a payment of an Alternative Payment Currency Equivalent denominated in Swiss francs, a "business day" will only occur on a day on which commercial banks are open for business in Zurich.

• In the case of an Alternative Payment Currency Event, payment of the Alternative Payment Currency Equivalent of the relevant principal or interest in respect of the Bonds shall be made by transfer to the applicable Alternative Payment Currency account of the relevant Bondholder, provided that such Bondholder has provided details of its Alternative Payment Currency account for receipt of such payments.

• If the Settlement Currency for the Notes and Warrants is Offshore RMB and "Payment of Alternative Payment Currency Equivalent" is specified as applicable in the relevant Final Terms, an investor is subject to the risk that payments in respect of such Notes and Warrants will be made in the Alternative Payment Currency specified in the relevant Final Terms instead of Offshore RMB.

• If an Alternative Payment Currency Event occurs, the Issuer shall give not less than 15 business days' notice to the Bondholders prior to the due date for payment, indicating the Alternative Payment Currency in which payments will be made.

• If, by reason of an FX Disruption Event, the Issuer is unable to settle payments under the Notes in the Settlement Currency, the Issuer may settle payments by payment of the Alternative Payment Currency Equivalent (which will be an amount in USD or such other currency specified as the Alternative Payment Currency in the relevant Pricing Supplement).

• If the Settlement Currency for the Notes or Warrants is Offshore RMB and "Payment of Alternative Payment Currency Equivalent" is specified as applicable in the relevant Final Terms, an investor is subject to the risk that payments in respect of such Notes or Warrants will be made in the Alternative Payment Currency specified in the relevant Final Terms instead of Offshore RMB.

• If an Alternative Payment Currency Event occurs, the Issuer shall give not less than five nor more than 30- days’ notice to the Bondholders prior to the due date for payment, indicating the Alternative Payment Currency in which payments will be made.

• Notwithstanding any other provision in these Conditions, if, for reasons beyond its control, the Russian Federation is unable to make payments of principal or interest (in whole or in part) in respect of the Bonds in U.S. dollars (an “Alternative Payment Currency Event”), the Russian Federation shall make such payments (in whole or in part) in the Alternative Payment Currency on the due date at the Alternative Payment Currency Equivalent of any such U.S. dollar-denominated amount.

• In the case of a payment of an Alternative Payment Currency Equivalent denominated in U.S. dollar, a "business day" will only occur on a day (other than a Saturday or Sunday) on which commercial banks are open for business in Moscow, London and New York City.

• In the case of a payment of an Alternative Payment Currency Equivalent denominated in Swiss francs, a “business day” will only occur on a day on which commercial banks are open for business in Zurich.

More Definitions of Alternative Payment Currency

Alternative Payment Currency means the currency, which may be Offshore RMB, specified as such in the relevant Pricing Supplement;

Alternative Payment Currency means either euro or U.S. dollar, as specified in the relevant Final Terms;

Alternative Payment Currency means the currency specified as such in the relevant Pricing Supplement.

Alternative Payment Currency means the currency, which may be Offshore RMB, specified as such in the relevant Final Terms or, if no such currency is specified, USD;

Alternative Payment Currency means: (ii) if, for reasons beyond its control, (a) the Issuer is unable to make payments of amounts due and owing to the Noteholders on the relevant Interest Payment Date, Maturity Date, or any other date when such amounts are due in respect of the Notes in United States dollars and/or (b) the Borrower is unable to make payments of amounts due and owing to the Issuer as lender on the relevant interest payment date, maturity date, or any other date when such amounts are due under the Loan Agreement in United States dollars, Euro; or (ii) if, for reasons beyond its control, (a) the Issuer is unable to make payments of amounts due and owing to the Noteholders on the relevant Interest Payment Date, Maturity Date, or any other date when such amounts are due in respect of the Notes in United States dollars and Euro and/or (b) the Borrower is unable to make payments of amounts due and owing to the Issuer as lender on the relevant interest payment date, maturity date, or any other date when such amounts are due under the Loan Agreement in United States dollars and Euro, pounds sterling; or (iii) if, for reasons beyond its control, (a) the Issuer is unable to make payments of amounts due and owing to the Noteholders on the relevant Interest Payment Date, Maturity Date, or any other date when such amounts are due in respect of the Notes in United States dollars, Euro and pounds sterling and/or (b) the Borrower is unable to make payments of amounts due and owing to the Issuer as lender under the LoanAgreement on the relevant interest payment date, maturity date, or any other date when such amounts are due under the Loan Agreement in United States dollars, Euro and pounds sterling, Swiss francs; or (iv) if, for reasons beyond its control, (a) the Issuer is unable to make payments of amounts due and owing to the Noteholders on the relevant Interest Payment Date, Maturity Date, or any other date when such amounts are due in respect of the Notes in United States dollars, Euro, pounds sterling and Swiss francs and/or (b) the Borrower is unable to make payments of amounts due and owing to the Issuer as lender under the Loan Agreement on the relevant interest payment date, maturity date, or any other date when such amounts are due under the Loan Agreement in United States dollars, Euro, pounds sterling and Swiss francs, Russian roubles.