LC Alternative Currency definition

LC Alternative Currency means (a) Sterling, (b) Euro or (c) any other lawful currency (other than Dollars) acceptable to the Administrative Agent and the applicable U.S. Issuing Bank (in the case of U.S. Letters of Credit) or the applicable Multicurrency Issuing Bank (in the case of Multicurrency Letters of Credit) or which, in the case of this clause (c), is freely transferable and convertible into Dollars and is freely available to the applicable U.S. Issuing Bank or Multicurrency Issuing Bank.
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LC Alternative Currency means (a) Sterling, (b) Euros, (c) Singapore Dollars, (d) Australian Dollars or (e) Japanese Yen.
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LC Alternative Currency means any lawful currency (other than dollars or Canadian Dollars) acceptable to the Issuing Banks and which is freely transferable and convertible into dollars in the United
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Examples of LC Alternative Currency in a sentence

  • In the case of any such reimbursement in Dollars of a drawing under a Letter of Credit denominated in an L/C Alternative Currency, the L/C Issuer shall notify the Borrower of the Dollar Equivalent of the amount of the drawing promptly following the determination thereof.

  • In the case of a Letter of Credit denominated in an L/C Alternative Currency, the Borrower shall reimburse the L/C Issuer in Dollars, unless the L/C Issuer shall have specified in such notice that it will accept reimbursement in the L/C Alternative Currency in which such Letter of Credit was so denominated.

  • If the Administrative Agent and the relevant Issuing Lender consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrowers and such currency shall thereupon be deemed for all purposes to be a L/C Alternative Currency hereunder for purposes of any Letter of Credit issuances.

  • In the case of any such reimbursement under a Letter of Credit denominated in a L/C Alternative Currency, the Administrative Agent shall notify the Borrowers of the Dollar Equivalent of the amount of the drawing promptly following the determination thereof.

  • The Administrative Agent or the L/C Issuer may give notice to the Borrower that any Alternative Currency or L/C Alternative Currency, respectively, is no longer readily available and freely transferable and convertible into Dollars, and upon such notice such currency shall cease to be an Alternative Currency or L/C Alternative Currency, as applicable, hereunder.

  • Subject to the terms and conditions set forth herein, at any time and from time to time during the Availability Period, the Borrower, as the applicant therefor, may request the issuance of Letters of Credit for the support of the Borrower’s or its Subsidiaries’ obligations, and the Lender shall issue such Letters of Credit, each of which Letter of Credit shall be denominated in dollars or an LC Alternative Currency and shall be in a form reasonably acceptable to the Lender.

  • The USFWS and AGFD have determined that the level of take described in this agreement is consistent with the overall goal of conserving the Page springsnail.

  • Pursuant to Section 2.06(i) of this Agreement, unreimbursed LC Disbursements made in an LC Alternative Currency bear interest at a rate per annum equal to the Overnight LIBO Rate plus the Overnight LIBO Spread as set forth in the definition of “Applicable Rate”.

  • Principal, interest, reimbursement obligations, fees, and all other amounts payable under this Agreement and the other Loan Documents to the Lender, including, without limitation, the reimbursement of any LC Disbursement in respect of a Letter of Credit issued in an LC Alternative Currency, shall be payable in dollars.

  • The Borrower may from time to time request that Eurocurrency Revolving Loans be made in a currency other than an existing Alternative Currency and/or Letters of Credit be issued in a currency other than an existing L/C Alternative Currency; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars.


More Definitions of LC Alternative Currency

LC Alternative Currency means (a) Sterling, (b) Euros or (c) any other lawful currency (other than Dollars) acceptable to the U.S. Issuing Banks (in the case of U.S. Letters of Credit) or the European Issuing Banks (in the case of French Letters of Credit or U.K. Letters of Credit) or which, in the case of this clause (c), is freely transferable and convertible into Dollars in the United States or London currency market, as applicable, and is freely available to the applicable U.S. Issuing Bank or European Issuing Bank, as applicable, in the London interbank deposit market.
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Related to LC Alternative 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.

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

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

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

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

  • 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.

  • 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.

  • 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.

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

  • Alternate Currency Loan means any Loan denominated in an Alternate 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 Term Rate means, for any Interest Period, with respect to any Credit Extension:

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

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

  • 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.

  • 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.

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

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

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

  • 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.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Foreign Currency Loan means any Loan denominated in a Foreign Currency.