Common use of Continuation of the Conversion Clause in Contracts

Continuation of the Conversion. Advance in Sterling or euros Where the Conversion Advance is outstanding during an Interest Period (the "first period") in Sterling or euros, the Agent shall determine the equivalent in Sterling or, as the case may be, euros of the Dollar Amount of the Conversion Advance on the second Banking Day before the beginning of the succeeding Interest Period and if such equivalent so determined falls short of the amount of Sterling or, as the case may be, euros outstanding at the beginning of the first period by more than 3 per cent the Parent shall forthwith pay to the Agent for the account of the Banks an amount in Sterling or, as the case may be, euros equal to such shortfall.