Ineligible Currency definition

Ineligible Currency means, with respect to any Available Currency (other than Dollars), a determination by the Administrative Agent that such currency has ceased to be (a) freely convertible into Dollars or (b) a currency for which there is an active foreign exchange and deposit market in London or New York City.
Sample 1Sample 2Sample 3
Ineligible Currency means, with respect to any Loan denominated in an Available Currency (other than Dollars), a determination by the relevant Lender that the currency in which such Loan is denominated has ceased to be (a) freely convertible into Dollars or (b) a currency for which there is an active foreign exchange and deposit market in London or New York City.
Sample 1
Ineligible Currency means, with respect to any Non-Rata Revolving Loan denominated in an Available Currency (other than Dollars), a determination by the relevant Lender that the currency in which such Loan is denominated has ceased to be (a) freely convertible into Dollars or (b) a currency for which there is an active foreign exchange and deposit market in New York City.
Sample 1

Examples of Ineligible Currency in a sentence

  • Notwithstanding any other provision contained in this Agreement, if, at any time prior to the Commitment Termination Date, the Administrative Agent determines that the Available Currency in which a Letter of Credit has been issued is an Ineligible Currency, then the Administrative Agent may (in its sole discretion) at any time notify the relevant Borrower of the same, and the Administrative Agent shall then promptly notify each other Lender.

  • Notwithstanding any other provision contained in this Agreement, if, at any time prior to the Commitment Termination Date, the relevant Issuer of a Non-Rata Letter of Credit determines that the Available Currency in which such Non-Rata Letter of Credit has been issued is an Ineligible Currency, then such Issuer may (in its sole discretion) at any time notify the relevant Borrower of the same.

  • Notwithstanding any other provision contained in this Agreement, if, at any time prior to the Commitment Termination Date, the relevant Lender of a Non-Rata Revolving Loan determines that the Available Currency in which such Non-Rata Revolving Loan has been made is an Ineligible Currency, then such Lender may (in its sole discretion) at any time notify the relevant Borrower of the same.

  • The conversion shall be effected at the relevant spot rate at which the Ineligible Currency is offered on that day for the selected Available Currency that appears on Telerate Page 261 at approximately 11:00 a.m. London time (and if the spot rate is not available on Telerate Page 261 as of that time, the spot rate as quoted by Scotiabank in London at approximately 11:00 a.m. London time) or, if that spot rate shall not exist, such other rate of exchange as the relevant Lender shall reasonably determine.

  • Notwithstanding any other provision contained in this Agreement, if, at any time prior to the Commitment Termination Date, any Lender determines that the Available Currency in which a Pro-Rata Letter of Credit has been issued is an Ineligible Currency, then such Lender may (in its sole discretion) at any time notify the Administrative Agent and the relevant Primary Borrower of the same, and the Administrative Agent shall then promptly notify each other Lender.

  • Administrative Agent determines that an Available Currency has become an Ineligible Currency, then (a) the Administrative Agent may (in its sole discretion) at any time so notify the relevant Borrower of any Borrowing denominated in that Ineligible Currency, and (b) the Commitments of the Lenders to make Loans in that Available Currencyshall be suspended unless and until the Administrative Agent determines that such Available Currency is no longer an Ineligible Currency.

  • Notwithstanding any other provision contained in this Agreement, if, at any time before the Commitment Termination Date, the relevant Lender of a Non- 44 Rata Revolving Loan determines that the Available Currency in which that Non-Rata Revolving Loan has been made is an Ineligible Currency, then that Lender may (in its sole discretion) at any time notify the relevant Borrower of the same.

Related to Ineligible Currency

  • 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.

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

  • Available Currency means Dollars, and any other currency as the relevant Borrower, each of the relevant Revolving Credit Lenders or the relevant Term Lenders, as the case may be, and the Administrative Agent may agree to from time to time.

  • freely usable currency means freely usable currency as defined under the Articles of Agreement of the International Monetary Fund.

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

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

  • 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 means, for any day, with respect to any Credit Extension:

  • 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.

  • Balance Currency means the currency that the trading account is denominated in and all charges including spreads, commissions and swaps, are calculated in that currency.

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

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

  • 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.

  • 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.

  • Designated LIBOR Currency means the currency specified on the face hereof as to which LIBOR shall be calculated or, if no such currency is specified on the face hereof, United States dollars.

  • Committed Currencies means lawful currency of the United Kingdom of Great Britain and Northern Ireland and Euros.

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

  • Base Currency Amount means, in relation to a Loan, the amount specified in the Utilisation Request delivered by a Borrower for that Loan (or, if the amount requested is not denominated in the Base Currency, that amount converted into the Base Currency at the Agent’s Spot Rate of Exchange on the date which is three Business Days before the Utilisation Date or, if later, on the date the Agent receives the Utilisation Request) adjusted to reflect any repayment or prepayment of the Loan.

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

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

  • Issue Currency or "SEK" means Swedish Krona. "Launch Date" means 12 January 2022.

  • Dollar Equivalent of the Currency Unit shall be determined by the Exchange Rate Agent and subject to the provisions of paragraph (h) below shall be the sum of each amount obtained by converting the Specified Amount of each Component Currency into Dollars at the Market Exchange Rate for such Component Currency on the Valuation Date with respect to each payment.

  • LIBOR Currency means the currency specified on the face hereof as to which LIBOR shall be calculated or, if no currency is specified on the face hereof, United States dollars. “LIBOR Page”

  • National Currency means the currency, other than the Euro, of a Participating Member State.

  • Party A Currency Amount In respect of each Party A Calculation Period, an amount in Dollars equal to the principal amount outstanding of the Relevant Notes on the first day of such Calculation Period (after taking into account any redemption on such day).