The fees and inspection and supervision fee shall always be paid in the Approval Currency.
Denomination Currency has the meaning specified in Section 14(b).
Base Currency means the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.
Fiat Currency means currency issued by the relevant body in a country or by a government that is designated as legal tender in its country of issuance through amongst other things, government decree, regulation, or law;
National Currency Unit means the unit of the currency of a country as those units are defined on the day before the start of the third stage of European Economic and Monetary Union pursuant to the Treaty or, in connection with the expansion of such third stage, to any country which has not initially participated in such third stage; and
Eligible Currency means each currency specified as such in Paragraph 11(a)(ii), if such currency is freely available.
Index Currency means USD.
Alternative Currency Term Rate Loan means a Committed Loan that bears interest at a rate based on the definition of “Alternative Currency Term Rate.” All Alternative Currency Term Rate Loans must be denominated in an Alternative Currency.
Local Currency means Kenya shilling;