Common use of Conditions relating to Optional Currencies Clause in Contracts

Conditions relating to Optional Currencies. (a) A Loan may be denominated in an Optional Currency for a Term if: (i) that Optional Currency is readily available in the amount required and freely convertible into euros in the relevant interbank market on the Rate Fixing Day and the first day of that Term; and (ii) that Optional Currency is U.S. Dollars, Sterling or Polish Zloty or has been previously approved by the Facility Agent (acting on the instructions of all the Lenders). (b) If the Facility Agent has received a request from the Company for a currency to be approved as an Optional Currency, the Facility Agent must, within 3 Business Days, confirm to the Company: (i) whether or not the Lenders have given their approval; and (ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency.

Appears in 2 contracts

Sources: Credit Facility Agreement (PPG Industries Inc), Credit Facility (PPG Industries Inc)

Conditions relating to Optional Currencies. (a) A Loan may be denominated in an Optional Currency for a Term if: (i) that Optional Currency is readily available in the amount required and freely convertible into euros U.S. Dollars in the relevant London interbank market on the Rate Fixing Day and the first day of that Term; andor (ii) that Optional Currency is U.S. Dollars, Sterling or Polish Zloty a Committed Currency or has been previously approved by the Facility Agent (acting on the instructions of all the Lenders). (b) If the Facility Agent has received a request from the Company for a currency to be approved as an Optional Currency (other than a Committed Currency), the Facility Agent must, within 3 five Business Days, confirm to the Company: (i) whether or not the Lenders have given their approval; and (ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency.

Appears in 2 contracts

Sources: Loan Agreement (Smith & Nephew PLC), Facility Agreement (Smith & Nephew PLC)

Conditions relating to Optional Currencies. (a) A Loan may be denominated in an Optional Currency for a Term if: (i) that Optional Currency is readily available in the amount required and freely convertible into euros in the relevant interbank market on the Rate Fixing Day and the first day of that Term; and (ii) that Optional Currency is U.S. Canadian Dollars, Sterling Slovak Koruna or Polish Zloty US Dollars or has been previously approved by the Facility Agent (acting on the instructions of all the Lenders). (b) If the Facility Agent has received a request from the Company for a currency (other than the Optional Currency specified in Clause 6.3(a)(ii)) to be approved as an Optional Currency, the Facility Agent must, within 3 five Business Days, confirm to the Company: (i) whether or not the Lenders have given their approval; and (ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency.

Appears in 1 contract

Sources: Credit Facility Agreement (United States Steel Corp)

Conditions relating to Optional Currencies. (a) A Loan may be denominated in an Optional Currency for a Term if: (i) that Optional Currency is readily available in the amount required and freely convertible into euros in the relevant interbank market on the Rate Fixing Day and the first day of that Term; and (ii) that Optional Currency is U.S. Canadian Dollars, Sterling Czech Koruna or Polish Zloty US Dollars or has been previously approved by the Facility Agent (acting on the instructions of all the Lenders). (b) If the Facility Agent has received a request from the Company for a currency (other than the Optional Currency specified in Clause 6.3(a)(ii)) to be approved as an Optional Currency, the Facility Agent must, within 3 five Business Days, confirm to the Company: (i) whether or not the Lenders have given their approval; and (ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency.

Appears in 1 contract

Sources: Multicurrency Revolving Credit Facility (United States Steel Corp)

Conditions relating to Optional Currencies. (a) A Loan may be denominated in an Optional Currency for a Term if: (i) that Optional Currency is readily available in the amount required and freely convertible into euros Swedish Kronor in the relevant interbank London foreign exchange market on the Rate Fixing Day and the first day of that Term; and (ii) that Optional Currency is U.S. Dollarseuro, Sterling or Polish Zloty Danish Kroner, Norwegian Kroner, Sterling, US Dollars or has been previously approved by the Facility Agent (acting on the instructions of all the Lenders). (b) If the Facility Agent has received a request from the Company for a currency to be approved as an Optional Currency, the Facility Agent must, within 3 five Business Days, confirm to the Company: (i) whether or not the Lenders have given their approval; and (ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency.

Appears in 1 contract

Sources: Credit Facility (Tele2 Ab)

Conditions relating to Optional Currencies. (a) A Facility A Loan may be denominated in an Optional Currency for a Term if: (i) that Optional Currency is readily available in the amount required and freely convertible into euros U.S. Dollars in the relevant London interbank market on the Rate Fixing Day and the first day of that Term; andor (ii) that Optional Currency is U.S. Dollars, Sterling or Polish Zloty a Committed Currency or has been previously approved by the Facility Agent (acting on the instructions of all the Lenders). (b) If the Facility Agent has received a request from the Company a Borrower for a currency to be approved as an Optional Currency (other than a Committed Currency), the Facility Agent must, within 3 five Business Days, confirm to the Companythat Borrower: (i) whether or not the Lenders have given their approval; and (ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Facility A Loan in that currency.

Appears in 1 contract

Sources: Term and Revolving Facilities Agreement (Smith & Nephew PLC)

Conditions relating to Optional Currencies. (a) A Loan may be denominated in an Optional Currency for a Term if: (i) that Optional Currency is readily available in the amount required and freely convertible into euros U.S. Dollars in the relevant interbank market on the Rate Fixing Day and the first day of that Term; and (ii) that Optional Currency is U.S. Dollarseuro, Sterling or Polish Zloty Sterling, Yen, Swiss Francs or has been previously approved by the Facility Agent (acting on the instructions of all the Lenders). (b) If the Facility Agent has received a request from the Company for a currency to be approved as an Optional Currency, the Facility Agent must, within 3 five Business Days, confirm to the Company: (i) whether or not the Lenders have given their approval; and (ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency. (c) If the euro is an Optional Currency at any time, a Loan in that Optional Currency will only be made available in the euro unit.

Appears in 1 contract

Sources: Credit Facility Agreement (Oratec Interventions Inc)