Qualified Currency definition
Examples of Qualified Currency in a sentence
Whenever it is necessary or desirable at any time to determine the Equivalent Amount in Canadian Dollars of an amount expressed in any other Qualified Currency, or vice-versa (specifically including for greater certainty the determination of whether the Outstanding Principal Amount under any Facility or Tranche exceeds the maximum amount of such Facility or Tranche), the Equivalent Amount shall be determined by reference to the Exchange Rate on the date of such determination.
No Qualified Currency Hedge may be entered into unless it is supported by Contract Payments made in Canadian dollars by a User under the related Contract.
If there is a mismatch between the amount paid under a Contract and the amount to be paid under a Qualified Currency Hedge, then the Issuer may cure any such mismatch by entering into a Qualified Currency Hedge for the amount of such mismatch.
In the singular, any one of, and in the plural, all of the Eligible Currency Hedge Counterparties, their successors and assigns which have entered into a Qualified Currency Hedge.
Each Qualified Currency Hedge shall also give the Issuer the right to terminate the Qualified Currency Hedge and simultaneously enter into a replacement Qualified Currency Hedge in the event the Currency Hedge Counterparty fails to post collateral, find a guarantor or transfer its rights and interests under the Qualified Currency Hedge in accordance with the terms of the Qualified Currency Hedge.
As additional security hereunder, the Issuer hereby assigns to the Indenture Trustee all right, title and interest of the Issuer under each Qualified Currency Hedge, including, but not limited to, all present and future amounts payable by an Currency Hedge Counterparty to the Issuer under or in connection with such Qualified Currency Hedge.
In addition, the Issuer shall not amend, modify or waive any provision of this Indenture, any Supplement, any Qualified Currency Hedge, any Interest Rate Hedge Agreement, the Servicing Agreement or any other Relevant Document to which it is a party or give any approval or consent or permission provided for therein without the prior written consent of the requisite Persons set forth in the applicable agreement.
No such rescission shall affect any subsequent default or impair any right consequent thereon, nor shall any such rescission affect any Qualified Currency Hedge or Interest Rate Hedge Agreement terminated in accordance with the terms thereof.
Whenever it is necessary or desirable at any time to determine the Equivalent Amount in Canadian Dollars of an amount expressed in any other Qualified Currency, or vice-versa (specifically including for greater certainty the determination of whether the Outstanding Principal Amount under Facility A or any Tranche thereof exceeds the maximum amount of Facility A or such Tranche, as applicable), the Equivalent Amount shall be determined by reference to the Exchange Rate on the date of such determination.
ICF shall not, after the date of the issuance of the ICF Notes, enter into or become a party to any agreements or instruments other than this Indenture, a Qualified Currency Hedge, an Interest Rate Hedge Agreement, the ICI Swap, each Lease, the Servicing Agreement or any other agreement(s) contemplated or permitted by this Indenture or any other ICF Relevant Document, including, without limitation, any agreement(s) for disposition of the ICF Collateral as permitted by Sections 612, 804 or 817 hereof.