Other Currency Equivalent definition

Other Currency Equivalent means, at any time, with respect to any amount denominated in U.S. Dollars, the equivalent amount thereof in the applicable Alternative Currency, as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with U.S. Dollars.

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Other Currency Equivalent means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Other Currency as determined by Administrative Agent or the Issuing Lender, as applicable, in its sole discretion by reference to the applicable Reuters page (or such other publicly available service for displaying exchange rates as determined by Administrative Agent or the Issuing Lender, as applicable, from time to time), to be the exchange rate for the purchase of such Other Currency with Dollars on the date two Business Days prior to the date as of which the foreign exchange computation is made; provided, however, that if no such rate is available, the “Other Currency Equivalent” shall be determined by Administrative Agent or the Issuing Lender, as the case may be, using any reasonable method of determination it deems appropriate in its sole discretion (and such determination shall be conclusive absent manifest error).

Other Currency Equivalent means in relation to any amount which is not denominated in Sterling on the date the calculation falls to be made, the equivalent in that other currency of the amount in Sterling as determining by the Agent by reference to the Agent’s spot rate of exchange at the relevant time;

Examples of Other Currency Equivalent in a sentence

Any Security Interest or Security Interests affecting the business, undertaking or assets of any Material Group Company securing in aggregate Financial Indebtedness in excess of £5,000,000 (or the Other Currency Equivalent thereof) becomes enforceable.
Any Security Interest or Security Interests affecting the business, undertaking or assets of Material Group Company securing in aggregate Financial Indebtedness in excess of £10,000,000 (or the Other Currency Equivalent thereof) becomes enforceable.
Any Security Interest or Security Interests granted by a member or members of the Group securing in aggregate Financial Indebtedness in excess of £15,000,000 (or the Other Currency Equivalent thereof) becomes enforceable whether or not steps are taken to enforce the same.
Wherever in this Agreement in connection with an Advance or continuation of an Advance an amount, such as a required minimum or multiple amount, is expressed in U.S. Dollars, but such Advance is denominated in an Alternative Currency, such amount shall be the relevant Other Currency Equivalent of such U.S. Dollar amount (rounded to the nearest unit of such Alternative Currency, with 0.5 of a unit being rounded upward).

More Definitions of Other Currency Equivalent

Other Currency Equivalent means, at any time, with respect to any amount denominated in U.S. Dollars, the equivalent amount thereof in the applicable Alternative Currency or Canadian Dollars, as the case may be, as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency or Canadian Dollars with U.S. Dollars.

Other Currency Equivalent means at any time the amount of any currency other than Sterling which can be purchased with Sterling calculated on the basis of the Facility Agent’s spot rate of exchange;