Secondary Currency definition
Examples of Secondary Currency in a sentence
The Administrative Agent hereby notifies Borrowers and the [USD] [Primary Currency] [Secondary Currency] Lenders that effective as of the date hereof shall be a Designated Borrower and may receive [USD] [Primary Currency] [Secondary Currency] Revolving Loans for its account on the terms and conditions set forth in the Credit Agreement.
For certain Notes, the Issuer must redeem the principal, pay interest or any other amount due on the Notes either (i) in the Specified Currency (as defined in the relevant Final Terms), or (ii) in the case of Dual Currency Notes in a Secondary Currency (as specified in the relevant Final Terms) or (iii) a replacement currency in the event of redenomination of the Specified Currency into euro (the “Redenomination Currency”).
Bid Rate Loans may be requested in any Primary Currency or Secondary Currency.
Following receipt of the consent of the Required [USD] [Primary Currency] [Secondary Currency] Lenders, the Administrative Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written.
All payments must be made for value on the Settlement Date, in the Secondary Currency and in immediately available, freely transferable and freely convertible funds by credit to the account of the recipient specified by it for such purposes.
This may pose a risk if an investor’s financial activities are essentially processed and denominated in a currency or monetary unit (the “Investor’s Currency”) other than the Specified Currency (or, as applicable, the Secondary Currency or the Redenomination Currency) and exchange rates vary significantly (for example, in the event of devaluation of any such currency or revaluation of the Investor’s Currency).
In the event that there is a change in the Rate of Exchange prevailing between the Business Day before the day on which the judgment is given and the date of payment of the amount due, Primero will, on the date of payment, pay such additional amounts, if any, as may be necessary to ensure that the amount paid on such date is the amount in the Secondary Currency which when converted at the Rate of Exchange prevailing on the date of payment is the amount then due under this Agreement in the Primary Currency.
Moreover, the authorities of the country governing the Specified Currency (or, as applicable, the Secondary Currency or the Redenomination Currency) or Investor’s Currency may impose or modify exchange controls.
An assessment of the value of the Investor’s Currency in relation to the Specified Currency (and, as applicable, the Secondary Currency or the Redenomination Currency), or the introduction or modification of exchange controls could decrease (i) the return on the Notes once converted into the Investor’s Currency, and (ii) the redemption amount payable on the Notes once converted into the Investor’s Currency.
Secondary Currency Revolving Loans shall consist of Fixed LIBOR Rate Loans, as the applicable Borrowers may request, and may be repaid and reborrowed in accordance with the provisions hereof.