Local Currency Sale Proceeds definition

Local Currency Sale Proceeds means (1) where a Credit Event Determination Date, a Tax Event or an Event of Default has occurred, an amount in Local Currency equal to the sale proceeds thatwould be realised by the Issuer (after the deduction of any taxes, duties, assessments, governmental charges, costs, losses or expenses incurred by the Issuer in connection with the sale) for the sale of the Reference Assets during the Sale Period and (2) where a Scheduled Maturity Date has occurred, the Relevant Local Currency Amount. For the purposes of sub-paragraph (1) above, the Issuer would effect such sale by seeking firm bid quotations for the Reference Assets from at least 3 leading dealers in the Local Currency bond market on each Business Day during the Sale Period. If the Issuer is unable to get any firm bid quotes for the Reference Assets during the Sale Period, or if no sale of the Reference Assets has been or can be effected during the Sale Period, the Local Currency Sale Proceeds shall be deemed to be zero. No interest shall accrue or be payable by the Issuer to the Noteholders as a result of any delay in connection with the sale, or with respect to the Sale Period (or any part thereof)
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Local Currency Sale Proceeds means, in respect of any Early Termination Amount, an amount in Local Currency equal to the sale proceeds that could be realised by the Issuer (after the deduction of any taxes, duties, assessments, governmental charges, costs, losses or expenses incurred by the Issuer in connection with the sale) for the sale of the Reference Assets, as determined by theCalculation Agent acting in its sole and absolute discretion, on the 3rd Business Day prior to any Early Termination Date.
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Related to Local Currency Sale Proceeds

  • Local Currency Advance means any Advance, denominated in Pounds Sterling, Euro, or any other Agreed Currency which CIF requests the Local Currency Banks to include as a Local Currency and which is reasonably acceptable to the Local Currency Banks, made to CIF pursuant to Sections 2.03A and 2.03B of the Credit Agreement and this Addendum. A Local Currency Advance shall bear interest at the rate specified in Schedule II.

  • Local Currency means Kenya shilling;

  • Japan Local Currency Advance means any Advance, denominated in Japanese Yen, made to CFKK pursuant to Sections 2.03C and 2.03D of the Credit Agreement and this Addendum. A Japan Local Currency Advance shall bear interest at the rate specified in Schedule II.

  • Foreign Currency Sublimit means $100,000,000.

  • Japan Local Currency Bank means each Bank listed on the signature pages of this Addendum or which becomes a party hereto pursuant to an Assignment and Acceptance or an Assumption and Acceptance.

  • Refunded Swing Line Loans has the meaning assigned to that term in subsection 2.1A(iii).

  • 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.

  • Local Currency Bank means each Bank listed on the signature pages of this Addendum or which becomes a party hereto pursuant to an Assignment and Acceptance or an Assumption and Acceptance.

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Swing Line Loan Commitment Amount means, on any date, $5,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Refunded Swing Line Loan has the meaning ascribed to it in Section 1.1(c)(iii).

  • 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).

  • Swing Line Loans as defined in Section 2.6.

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

  • Swingline Participation Amount as defined in Section 2.7(c).

  • U.S. Swingline Loan means any swingline loan denominated in Dollars made by the applicable Swingline Lender to a US Borrower pursuant to Section 2.2, and all such swingline loans collectively as the context requires.

  • Canadian Swingline Loan means a Swingline Loan made to the Canadian Borrower.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Swing Line Participation Amount as defined in Section 2.7.

  • 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.

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

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • 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.

  • U.S. Revolving Credit Exposure means, with respect to any Lender at any time, the sum of such Lender’s outstanding U.S. Revolving Loans and its U.S. L/C Exposure and U.S. Swingline Exposure at such time.

  • 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.

  • Swingline Committed Amount means the amount of the Swingline Lender’s Swingline Commitment as specified in Section 2.4(a).