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 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 States or London currency market, as applicable, and is freely available to the applicable Issuing Bank in the London interbank deposit market.
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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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Examples of LC Alternative Currency in a sentence

  • 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.

  • 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.

  • 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.

  • 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.

  • Without limiting the other terms of this Agreement, all calculations and determinations under this Agreement in respect of any amount in any currency other than dollars (including, without limitation, any LC Alternative Currency) shall be deemed to refer to the Dollar Amount thereof, as the case may be, and all Borrowing Base Certificates delivered under this Agreement shall express such calculations or determinations in dollars or the Dollar Amount thereof, as the case may be.

  • Upon the issuance of each other Letter of Credit, each Lender shall be deemed to have purchased a pro rata participation in such Letter of Credit from the relevant Issuing Lender in an amount equal to that Lender’s Applicable Percentage times the amount of such Letter of Credit (expressed in Dollars in the amount of the Dollar Equivalent thereof in the case of a Letter of Credit denominated in a L/C Alternative Currency).

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  • 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.

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More Definitions of LC Alternative Currency

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
Sample 1

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 1.07.

  • 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 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 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.

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

  • Available Currency means Dollars.

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