Sterling Amount definition

Sterling Amount means at any time:

Sterling Amount means the aggregate amount of the Term Loans to be advanced by the Lenders on the Funding Date calculated by converting the Dollar Drawdown Amount to GBP using the Agreed Exchange Rate.

Sterling Amount means, at any time, for any amount, (i) if denominated in Sterling, the amount thereof and (ii) if denominated in Dollars, the amount thereof converted to Sterling in accordance with Section 1.09.

Examples of Sterling Amount in a sentence

• Any repayment of any Advance denominated in an Optional Currency shall reduce the amount of such Advance by the amount of such Optional Currency repaid and shall reduce the Sterling Amount of such Advance proportionately.

• Each relevant Borrower shall pay a fronting fee to the Facility Agent for the account of the Issuing Bank on the Issue of any Letter of Credit at a rate of 0.2% per annum on the Sterling Amount of the face amount of the relevant Letter of Credit payable in advance on the date of Issue and on each Quarter Date thereafter.

• For this purpose Loans are taken at their Original Sterling Amount.

• The Facility Agent must notify the Lenders and the Company of the relevant Sterling Amount (and the applicable Agent's Spot Rate of Exchange) promptly after they are ascertained.

• For the purpose of calculating the Available Commitment, the Outstanding Contingent Liabilities under a Letter of Credit will initially be its Sterling Amount on the Issue Date, subject to recalculation by the Facility Agent in accordance with the definition of "Sterling Amount" and clause 4.11 (Currency Fluctuations).

More Definitions of Sterling Amount

Sterling Amount means in respect of Outstanding Contingent Liabilities, the sum of the amount in Sterling of the Outstanding Contingent Liabilities under Letters of Credit denominated in Sterling and the amount of Sterling required to purchase the currency amount of the Outstanding Contingent Liabilities under Letters of Credit denominated in each other currency at the Spot Rate at that time and so that such Sterling Amount shall be recalculated by the Facility Agent:

Sterling Amount means, in relation to a Swingline Commitment, the amount of that Swingline Commitment translated into Sterling on the basis of the Agent’s Spot Rate of Exchange on the date any part of the Facility is to be cancelled pursuant to Clause 7.1 (Voluntary cancellation).

Sterling Amount means, in relation to a Utilisation:

Sterling Amount means (a) in relation to a Drawing to be made in Sterling the amount in Sterling so drawn down, (b) in relation to (i) a Term Loan Advance which has been or is to be converted into an Optional Currency, the amount in Sterling specified in the relevant Drawdown Notice or (ii) in relation to a Drawing under the Revolving Credit Facility or the Termed Out Revolving Loan Facility which has been or is to be drawn down in an Optional Currency, the amount in Sterling which was or would be required to purchase the principal amount of that Drawing at or prior to its Drawdown Date as determined in accordance with clause 4.4(d), (c) in relation to a Drawing under the Revolving Credit Facility which has been or is to be re-advanced upon conversion pursuant to clause 4.5, the amount in Sterling which was or would be required to provide the principal amount of such Drawing at or prior to its Drawdown Date in the relevant Optional Currency as determined in Back to Contents accordance with clause 4.4(d) and (d) at any relevant time, in relation to any other amounts, such amount of Sterling or, if such amount is denominated in an Optional Currency, the equivalent in Sterling at such time of such amount in each case as reduced by any repayment or prepayment under this Agreement;

Sterling Amount means, in relation to a Drawing, the amount specified in a Drawing Request delivered by a Borrower or the Obligors’ Agent for that Drawing (or, if the amount requested is not denominated in Sterling, that amount converted into Sterling at the Facility Agent’s spot rate of exchange on the date which is three Business Days before the Drawing Date or, if later, on the date the Facility Agent receives the Drawing Request) adjusted to reflect (in the case of an Advance) any repayment (other than, in relation to a Term Facility, a repayment arising from a change of currency), prepayment, consolidation or division or (in the case of a Letter of Credit or Bank Guarantee) the provision of cash cover;

Sterling Amount means in relation to any Advance, its Original Sterling Amount as reduced by the proportion (if any) of such Advance which has been repaid.

Sterling Amount means (a) in relation to a Drawing to be made in Sterling the amount in Sterling so drawn down, (b) in relation to a Drawing under the Working Capital Facility which has been or is to be drawn down in an Optional Currency, the amount in Sterling which was or would be required to purchase the principal amount of that Drawing at or prior to the Drawdown Date as determined in accordance with clause 4.17(c), in each case as reduced by any repayment or prepayment under this Agreement;