Common use of Conversion of Currency Clause in Contracts

Conversion of Currency. (a) The Company shall indemnify the Holders against, and the Holders shall have an additional legal claim for, any loss or damage which, consequent upon any judgment being obtained or enforced in respect of the non-payment by the Company of any amount due under or pursuant to this Indenture, arises from any variation in rates of exchange between United States dollars and the currency in which judgment is obtained or enforced between the date such amount became due (or the date of the said judgment being obtained as the case may be) and the date of actual payment of such amount. The indemnity contained in this Section 116 shall apply irrespective of any indulgence granted to the Company from time to time and shall continue in full force and effect notwithstanding any payment by or on behalf of the Company, and any amount due from the Company under this Section 116 will be due as a separate payment and shall not be affected by any judgment being obtained for any other sums due under or in respect of this Indenture. (b) The term “rate(s) of exchange” shall mean the rate, quoted at noon for transactions in excess of $1,000,000, at which the Holder is able or would have been able on the relevant date to purchase at ▇▇▇▇▇▇ Guaranty Trust Company of New York at its main branch in New York City, United States dollars with the judgment currency other than United States dollars referred to in Subsection (a) above and includes any premiums and costs of exchange payable.

Appears in 5 contracts

Sources: Indenture (Sea Containers LTD /Ny/), Indenture (Sea Containers LTD /Ny/), Indenture (Sea Containers LTD /Ny/)

Conversion of Currency. (a) The Company shall indemnify the Holders Investor against, and the Holders Investor shall have an additional legal claim for, any loss or damage which, consequent upon any judgment being obtained or enforced in respect of the non-payment by the Company of any amount due under or pursuant to this Indenture, agreement or the Indentures arises from any variation in rates of exchange between United States dollars and the currency in which judgment is obtained or enforced between the date such amount became due (or the date of the said judgment being obtained as the case may be) and the date of actual payment of such amount. The indemnity contained in this Section 116 shall apply irrespective of any indulgence granted to the Company from time to time and shall continue in full force and effect notwithstanding any payment by or on behalf of the Company, Company and any amount due from the Company under this Section 116 16 will be due as a separate payment and shall not be affected by any judgment being obtained for any other sums due under or in respect of this Indentureagreement. (b) The term "rate(s) of exchange" shall mean the rate, quoted at noon for transactions in excess of $1,000,000, at which the Holder Investor is able or would have been able on the relevant date to purchase at ▇▇▇▇▇▇ Morgan Guaranty Trust Company of New York at its main branch m▇▇▇ ▇▇anch in New York City, United States dollars with the judgment currency other than United States dollars referred to in Subsection subsection (a) above and includes any premiums and costs of exchange payable.

Appears in 2 contracts

Sources: Subscription Agreement (Crystallex International Corp), Subscription Agreement (Crystallex International Corp)

Conversion of Currency. (a) The Company shall indemnify the Holders Investor against, and the Holders Investor shall have an additional legal claim for, any loss or damage which, consequent upon any judgment being obtained or enforced in respect of the non-payment by the Company of any amount due under or pursuant to this Indenture, agreement or the Indentures arises from any variation in rates of exchange between United States dollars and the currency in which judgment is obtained or enforced between the date such amount became due (or the date of the said judgment being obtained as the case may be) and the date of actual payment of such amount. The indemnity contained in this Section 116 shall apply irrespective of any indulgence granted to the Company from time to time and shall continue in full force and effect notwithstanding any payment by or on behalf of the Company, Company and any amount due from the Company under this Section 116 13 will be due as a separate payment and shall not be affected by any judgment being obtained for any other sums due under or in respect of this Indentureagreement. (b) The term "rate(s) of exchange" shall mean the rate, quoted at noon for transactions in excess of $1,000,000, at which the Holder Investor is able or would have been able on the relevant date to purchase at ▇▇▇▇▇▇ Morgan Guaranty Trust Company of New York at its main branch m▇▇▇ ▇▇anch in New York City, United States dollars with the judgment currency other than United States dollars referred to in Subsection subsection (a) above and includes any premiums and costs of exchange payable.

Appears in 1 contract

Sources: Subscription Agreement (Crystallex International Corp)