Common use of Amount of Optional Currencies Clause in Contracts

Amount of Optional Currencies. If a Loan is to be drawn down in an Optional Currency, the Original Sterling Amount of each Bank’s participation in that Loan will be determined by converting into Sterling the Bank’s participation in that Loan on the basis of the applicable Agent’s Spot Rate of Exchange 3 Business Days before its Drawdown Date. The Agent shall notify each Bank and each Borrower of the Original Sterling Amount of each Loan denominated in an Optional Currency and the applicable Agent’s Spot Rate of Exchange promptly after they are ascertained.

Amount of Optional Currencies. If a Loan is to be drawn down in an Optional Currency, the Original Sterling Amount of each Bank’s 's participation in that Loan will be determined by converting into Sterling the Bank’s 's participation in that Loan on the basis of the applicable Agent’s 's Spot Rate of Exchange 3 Business Days before its Drawdown Date. The Agent shall notify each Bank and each Borrower of the Original Sterling Amount of each Loan denominated in an Optional Currency and the applicable Agent’s 's Spot Rate of Exchange promptly after they are ascertained.