Local Currencies definition

Local Currencies means the currency used in each of the respective countries in the Territory.
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Local Currencies means currencies of Emerging Market Countries.
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Examples of Local Currencies in a sentence

  • The Administrative Agent shall deposit in each Lender’s LC Reserve Account such Lender’s CAM Percentage of the amounts received from the Revolving Lenders as provided above (including the Local Currencies for which any such amounts have been exchanged as provided in the preceding sentence).

  • If at any time and for any reason the total amount of credit outstanding under this Agreement exceeds the limitations set forth herein, the Borrower shall or shall cause the applicable Acceptable Subsidiary to pay to the Bank, upon demand, the amount of the excess provided, that if the foregoing applies due to a change between Dollars and Local Currencies, the Borrower shall be obligated to pay or cause the payment of such amount only if the excess is greater than $100,000 or the Equivalent Amount thereof.