Approved Offshore Currency definition

Approved Offshore Currency means Canadian Dollars, Pounds Sterling, Deutsche Marks, and Japanese Yen and any other currency that in the opinion of all Banks is freely traded in the offshore interbank foreign exchange markets and is freely transferable and freely convertible into Dollars and in which dealings in deposits are carried out on the London interbank market.
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Approved Offshore Currency means Euros, and any other currency that in the opinion of all Banks is freely traded in the offshore interbank foreign exchange markets and is freely transferable and freely convertible into Dollars and in which dealings in deposits are carried out on the London interbank market.
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Approved Offshore Currency means any Pound Sterling, Danish Kroner, Norwegian Kroner, Finnish Markka, Swiss Francs, Canadian Dollars, Euro or any other freely available currency (excluding Mexican Pesos) certified by the Lenders to the Administrative Agent upon not less than 10 Business Days' notice that in the opinion of all Lenders, in their sole discretion, is at such time freely traded in the offshore interbank foreign exchange markets and is freely transferable and freely convertible into Dollars.
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Examples of Approved Offshore Currency in a sentence

  • If such notice from the Borrower designated an Offshore Advance or a Swingline Advance in an Approved Offshore Currency, the Administrative Agent shall promptly notify the Borrower and the Revolving Credit Lenders or the Swingline Bank, as appropriate, of the Dollar Equivalent thereof.

  • The Borrowers shall use the proceeds of Revolving Credit Advances and Letters of Credit for refinancing of certain Indebtedness of the Borrowers (including in respect of the Existing Credit Agreement), for Acquisitions permitted hereunder and for working capital and other general corporate purposes, subject to the limitation on Approved Offshore Currency Advances set forth in the definition of the Approved Offshore Currency Borrowing Limit.

  • Anything to the contrary contained herein notwithstanding, neither any Agent, nor any Lender, nor any of their Participants, is required actually to acquire eurodollar, Canadian Dollar or Approved Offshore Currency deposits to fund or otherwise match fund any Obligation as to which interest accrues at the applicable LIBOR Rate.

  • Cash collateral provided with respect to Letter of Credit Usage shall be required to be provided (i) with respect to any Letter of Credit Usage denominated in Canadian Dollars, in Canadian Dollars, (ii) with respect to any Letter of Credit Usage denominated in an Approved Offshore Currency, in the applicable Approved Offshore Currency, and (iii) with respect to any Letter of Credit Usage denominated in Dollars, in Dollars.

  • The provisions of this Section shall apply as if each Lender or its Participants had match funded any Obligation as to which interest is accruing at the applicable LIBOR Rate by acquiring eurodollar, Canadian Dollar or Approved Offshore Currency deposits for each Interest Period in the amount of the LIBOR Rate Loans.

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  • Such cash collateral shall be provided (i) with respect to any Letter of Credit Usage denominated in Canadian Dollars, in Canadian Dollars, (ii) with respect to any Letter of Credit Usage denominated in an Approved Offshore Currency, in the applicable Approved Offshore Currency, and (iii) with respect to any Letter of Credit Usage denominated in Dollars, in Dollars.

  • The provisions 52 58 of this Agreement relating to calculation of the Offshore Dollar Rate and Approved Offshore Currency Rate are included only for the purpose of determining the rate of interest or other amounts to be paid hereunder that are based upon such rate, it being understood that each Lender shall be entitled to fund and maintain its funding of all or any part of an Offshore Advance as such Lender determines in its sole discretion.

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  • Notwithstanding any other provision of this Agreement, no Loan shall be made in an Approved Offshore Currency if, after giving effect to such Loan, the Dollar Equivalent at the time the proposed Loan is to be made of all outstanding Loans made in Approved Offshore Currencies plus the Dollar Equivalent of the proposed Loan is greater than $50,000,000.


More Definitions of Approved Offshore Currency

Approved Offshore Currency means Sterling or Euro.
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Approved Offshore Currency means (a) with respect to Offshore Advances and Offshore Bid Rate Advances, the Euro, and the lawful currency of Switzerland, England and Australia, provided that with respect to Offshore Advances in the opinion of Determining Lenders of the Revolving Credit Lenders in their aggregate discretion, such currency is at such time freely traded in the offshore interbank foreign exchange markets and is freely transferable and freely convertible into Dollars, (b) with respect to Swingline Advances, the lawful currency of Mexico, Denmark, Norway, Sweden, Turkey, New Zealand, Singapore, Taiwan, Thailand and Hong Kong, provided that in the opinion of the Swingline Bank, in its sole discretion, such currency is at such time freely traded in the offshore interbank foreign exchange markets and is freely transferable and freely convertible into Dollars, and (c) with respect to any Letter of Credit, any lawful currency described in clauses (a) and (b), and, at the sole discretion of the Primary Issuing Bank, any other lawful currency.
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Related to Approved Offshore 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.

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

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

  • Alternate Currency means (i) with respect to any Letter of Credit, Canadian Dollars, Euros, Pound Sterling, Swiss Francs, Mexican Pesos, 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.

  • Alternative Currency means each of Euro, Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.07.

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

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

  • Quote Currency means the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.

  • Alternative Currency Daily Rate Loan means a 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 Currencies means any currency (other than Dollars) approved by the Administrative Agent and the applicable Issuing Bank.

  • Eligible Currency means any currency other than Dollars that is readily available, freely traded, in which deposits are customarily offered to banks in the London interbank market, convertible into Dollars in the international interbank market available to the Lenders in such market and as to which a Dollar Amount may be readily calculated. If, after the designation by the Lenders of any currency as an Agreed Currency, currency control or other exchange regulations are imposed in the country in which such currency is issued, or any other event occurs, in each case with the result that different types of such currency are introduced, such country’s currency is (i) in the determination of the Administrative Agent, no longer readily available or freely traded, or (ii) as to which, in the determination of the Administrative Agent, a Dollar Amount is not readily calculable a “Disqualifying Event”), then the Administrative Agent shall promptly notify the Lenders, the Domestic Borrowers and any applicable Foreign Borrower, and such country’s currency shall no longer be an Agreed Currency until such time as the Disqualifying Event(s) no longer exist, but in any event within five (5) Business Days of receipt of such notice from the Administrative Agent, the Domestic Borrowers or such applicable Foreign Borrower shall repay all Loans in such currency to which the Disqualifying Event applies or convert such Loans into the Dollar Amount of Loans in Dollars, subject to the other terms contained in Article II.

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

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

  • Alternative Currency Term Rate Loan means a 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.

  • Domestic Currency means the currency specified as such and any successor currency. If no currency is so specified, the Domestic Currency shall be the lawful currency and any successor currency of (i) the relevant Reference Entity, if the Reference Entity is a Sovereign, or (ii) the jurisdiction in which the relevant Reference Entity is organised, if the Reference Entity is not a Sovereign. In no event shall Domestic Currency include any successor currency if such successor currency is the lawful currency of any of Canada, Japan, Switzerland, the United Kingdom or the United States of America or the euro (or any successor currency to any such currency).

  • Canadian Dollar means the lawful currency of Canada.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

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

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

  • Available Currency means Dollars.

  • Australian Dollar means the lawful currency of Australia.

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

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

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

  • Foreign Currency LC Exposure means, at any time, the sum of (a) the Dollar Amount of the aggregate undrawn and unexpired amount of all outstanding Foreign Currency Letters of Credit at such time plus (b) the aggregate principal Dollar Amount of all LC Disbursements in respect of Foreign Currency Letters of Credit that have not yet been reimbursed at such time.

  • Canadian Base Rate Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Canadian Base Rate in accordance with the provisions of Article II.