Approved Alternate Currency definition

Approved Alternate Currency means Canadian Dollars, British Pounds Sterling, Italian Lira, German Deutsche Marks, Swiss Francs, French Francs, Belgian Francs, Dutch Guilders, Spanish Pesetas, Danish Krone and Japanese Yen, and, with respect to any Trade Letter of Credit, any other currency other than Dollars which is approved by the Letter of Credit Issuer in respect of such Trade Letter of Credit and the Administrative Agent prior to the issuance of such Trade Letter of Credit.
Sample 1Sample 2
Approved Alternate Currency means Euros, Swedish Kronor or any other currency (other than Dollars) approved by the applicable L/C Issuer issuing a Letter of Credit to be denominated in any such other currency; provided that, at such time (i) such other currency is dealt with in the London interbank deposit market, (ii) such other currency is freely transferable and convertible into Dollars in the London foreign exchange market, and (iii) no central bank or other governmental authorization in the country of issue of such other currency is required to permit use of such other currency by any Lender for issuing any Letter of Credit and/or to permit the Borrower to reimburse L/C Disbursements thereon and/or to pay any other amounts owing in respect of such Letter of Credit (unless such authorization has been obtained and is in full force and effect).
Sample 1Sample 2Sample 3
Approved Alternate Currency means Canadian Dollars, British Pounds Sterling, Euros, Swiss Francs, Danish Krone and Japanese Yen, and, with respect to any Trade Letter of Credit, any other currency other than Dollars which is approved by the Letter of Credit Issuer in respect of such Trade Letter of Credit and the Administrative Agent prior to the issuance of such Trade Letter of Credit.
Sample 1Sample 2Sample 3

Examples of Approved Alternate Currency in a sentence

  • The L/C Issuer shall notify the Borrower in writing of the amount of the L/C Disbursement (taking the Dollar Equivalent of any such L/C Disbursement made in an Approved Alternate Currency) promptly following the determination thereof.

  • Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Letters of Credit denominated in U.S. Dollars or an Approved Alternate Currency for its own account, in a form reasonably acceptable to the Administrative Agent and the applicable Issuing Bank, at any time and from time to time during the LC Availability Period of such Issuing Bank.

  • The Competitive Bid Loans shall be denominated in an Approved Alternate Currency, provided that the aggregate outstanding principal amount of all Competitive Bid Loans denominated in an Approved Alternate Currency, when added to the aggregate outstanding principal amount of all Revolving Loans denominated in a Primary Alternate Currency, shall not exceed the Alternate Currency Sublimit at any time.

  • If the LC Facility Lender consents to the issuance of Letters of Credit under the LC Facility in such requested currency, the LC Facility Lender shall so notify the Borrower and the Administrative Agent and thereafter such currency shall thereupon be deemed for all purposes to be an Approved Alternate Currency.

  • The Borrower agrees that mandatory prepayments may be required from time to time under this Section 4.02(A)(a) pursuant to the preceding sentence as a result of fluctuations in the exchange rate for any Approved Alternate Currency.


More Definitions of Approved Alternate Currency

Approved Alternate Currency means Euros, Deutsche Marks and Swiss Francs.
Sample 1Sample 2
Approved Alternate Currency means Euros and Pounds Sterling.
Sample 1Sample 2
Approved Alternate Currency means Euros, Pounds Sterling or any other currency (other than Dollars) approved by the applicable L/C Issuer issuing a Letter of Credit to be denominated in any such other currency; provided that, at such time (i) such other currency is dealt with in the London interbank deposit market, (ii) such other currency is freely transferable and convertible into Dollars in the London foreign exchange market, and (iii) no central bank or other governmental authorization in the country of issue of such other currency is required to permit use of such other currency by any Bank for issuing any Letter of Credit and/or to permit the Borrower to reimburse L/C Disbursements thereon and/or to pay any other amounts owing in respect of such Letter of Credit (unless such authorization has been obtained and is in full force and effect).
Sample 1Sample 2
Approved Alternate Currency means Euros, Pounds Sterling or any other currency (other than U.S. Dollars) approved by the Letter of Credit Issuer; provided that, at such time, (i) such other currency is dealt with in the London interbank deposit market, (ii) such other currency is freely transferable and convertible into Dollars in the London foreign exchange market, and (iii) no central bank or other governmental authorization in the country of issue of such currency is required to permit use of such currency by any RL Lender for issuing any Letter of Credit and/or to permit the Borrower to repay Unpaid Drawings thereon and/or to pay any other amounts owing in respect of such Letter of Credit (unless such authorization has been obtained and is in full force and effect).
Sample 1
Approved Alternate Currency means (i) Canadian Dollars, Euros and GBP and (ii) any other currency (other than Dollars) approved in accordance with Section 1.05.
Sample 1
Approved Alternate Currency means Sterling, Deutschmarks, Krona or ECU's or any other currency (other than Dollars) approved by the Agent and the Issuing Bank.
Sample 1

Related to Approved Alternate Currency

  • Alternate Currency means (i) with respect to any Letter of Credit, Canadian Dollars, Euros, Pound Sterling, New Zealand Dollars and Australian Dollars and any other currency other than Dollars as may be acceptable to the Administrative Agent and the Issuing Bank with respect thereto in their sole discretion and (ii) with respect to any Loan, any currency other than Dollars that is approved in accordance with Section 1.05.

  • Alternate Currency Loan means any Loan denominated in an Alternate Currency.

  • Alternative Currency means each of Euro, Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.06.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Alternative Currency Loan means an Alternative Currency Daily Rate Loan or an Alternative Currency Term Rate Loan, as applicable.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Alternative Currency Daily Rate Loan means a Committed Loan that bears interest at a rate based on the definition of “Alternative Currency Daily Rate.” All Alternative Currency Daily Rate Loans must be denominated in an Alternative Currency.

  • Alternative Currency Daily Rate means, for any day, with respect to any Credit Extension:

  • Alternative Currencies means (a) Euro, (b) Sterling, (c) Yen and (d) each other currency (other than Dollars) approved in accordance with Section 1.08.

  • 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.

  • Alternative Currency Sublimit means an amount equal to the lesser of the Aggregate Commitments and $50,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • Alternative Currency Term Rate means, for any Interest Period, with respect to any Credit Extension:

  • Reference Currency means the currency specified as such in the applicable Final Terms.

  • Applicable Currency means, as to any particular payment or Loan, Dollars or the Offshore Currency in which it is denominated or is payable.

  • Offshore Currency Loan means any Offshore Rate Loan denominated in an Offshore Currency.

  • Approved Currency means each of Dollars and each Alternative Currency.

  • Dollar Equivalent of the Foreign Currency has the meaning specified in Section 312(f).

  • Eligible Currency means any currency other than Dollars (i) that is readily available, (ii) that is freely traded, (iii) in which deposits are customarily offered to banks in the London interbank market, (iv) that is convertible into Dollars in the international interbank market and (v) as to which a Dollar Equivalent Amount may be readily calculated. If, after the designation by the Revolving Credit Lenders of any currency as an Agreed Currency, (x) currency control or other exchange regulations are imposed in the country in which such currency is issued with the result that different types of such currency are introduced, (y) such currency is, in the reasonable determination of the Administrative Agent, no longer readily available or freely traded or (z) in the reasonable determination of the Administrative Agent, a Dollar Equivalent Amount of such currency is not readily calculable, the Administrative Agent shall promptly notify the Lenders and the Company, and such currency shall no longer be an Agreed Currency until such time as all of the Revolving Credit Lenders agree to reinstate such currency as an Agreed Currency and promptly, but in any event within five Business Days of receipt of such notice from the Administrative Agent, the Borrower shall repay all Loans in such affected currency or convert such Loans into Loans in Dollars or another Agreed Currency, subject to the other terms set forth in Article II.

  • Agreed Currency means Dollars or any Alternative Currency, as applicable.

  • Base Currency means the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Offshore Currency means any lawful currency (other than dollars) that the relevant Issuing Bank with respect to any Offshore Currency Letter of Credit, in its sole reasonable opinion, at any time determines to be (a) freely traded in the offshore interbank foreign exchange markets, (b) freely transferable and (c) freely convertible into dollars.

  • Canadian Swingline Loan means a Swingline Loan made to the Canadian Borrower.