Foreign Currency Adjustment definition
Foreign Currency Adjustment means, as of any date of determination, an amount equal to the product of (A) the Outstanding Balance of Receivables that are denominated in Canadian Dollars as of such date multiplied by (B) the product of (i) the largest monthly decline (in percentage terms) of the Canadian Dollar versus the Dollar during the most recent twelve months multiplied by (ii) a stress factor of 1.25.
Foreign Currency Adjustment means, as of any date of determination, (i) with respect to the Canadian Borrowing Base or the U.S. Borrowing Base, as the case may be, an amount equal to the product of (A) the eligible amount of the Eligible Accounts (following the application of the advance ratios thereto) included therein that are denominated in Euros or Pounds Sterling as of such date multiplied by (B) the product of (x) the average monthly decline (in percentage terms) of the Euro or Pound Sterling, as the case may be, versus the Dollar during the most recent twelve months multiplied by (y) a stress factor of 1.25; and (ii) solely with respect to the Canadian Borrowing Base, an amount equal to the product of (A) the Net Canadian Dollar Exposure as of such date multiplied by (B) the product of (x) the average monthly decline (in percentage terms), if any, of the Canadian Dollar versus the Dollar during the most recent twelve months multiplied by (y) a stress factor of 1.25. For purposes of the foregoing, the “Net Canadian Dollar Exposure” at any date is the excess of (i) the sum of (A) the eligible amount of the Eligible Canadian Accounts (following the application of the advance ratios thereto) that are denominated in Canadian Dollars at such date plus (B) the eligible amount of the Eligible Canadian Inventory (following the application of the advance ratios thereto) at such date over (ii) the Aggregate Canadian Facility Exposure which is denominated in Canadian Dollars at such date.