Currency Controls Clause Samples

Currency Controls. If, by law, regulations, or fiscal policy of a particular country, payment as provided for above is restricted or forbidden, notice thereof in writing will be given to the payee and payment of the royalty will be made through such lawful means or methods as the payee designates. If the payee fails to so designate such lawful means or methods within 60 days after such notice is given to the payee, the payment of royalties by the royalty-paying party will be made by the deposit thereof in local currency to the credit of the payee in a recognized banking institution designated by the payee or, if none be designated by the payee within such period of 60 days, in a recognized banking institution of which the royalty-paying party shall notify the payee.
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Currency Controls. There are controls on payments imposed by a Governmental Authority which interfere with the payment of obligations under the Loan Documents; or
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Currency Controls. If MGI is precluded at any time from making any payments due to ILEX under the provisions of this Agreement because MGI has failed to obtain any governmental approvals that may be required under the laws and regulations in a particular country for such transfers of funds, then MGI shall: (a) deposit, or cause its agent to deposit, such sums to an account designated by ILEX at a bank or other entity in such country; (b) provide, or cause its agent to provide, to ILEX documentary evidence of such deposits; and (c) remit such deposits to ILEX immediately upon the subsequent receipt of any required governmental approvals for such transfers. Subject to any applicable regulatory requirements, MGI further agrees, and shall cause any agent of MGI to agree, that the form of such depository account shall permit ILEX to withdraw the deposited amounts at will, but neither MGI nor any agent of MGI shall withdraw the deposited amounts otherwise than for the purpose of remitting such amounts to ILEX pursuant to the provisions of this Section.
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Currency Controls. There are no controls on payments by any Governmental Authority which could interfere with payments of obligations under the Loan Documents.
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Currency Controls. If any governmental authority with jurisdiction over the Hotel imposes restrictions on the transfer of funds or currency to places outside the Country and such restrictions result in Hyatt or its Affiliates not receiving payments or reimbursements consistent with the requirements of this Agreement or the other Hyatt Agreements, then Hyatt may direct Owner to deposit all payments required under this Agreement and the other Hyatt Agreements into such accounts in the Country as Hyatt may designate and Owner, at its sole cost and expense, shall take such other action as Hyatt may reasonably request to cause payment of such accumulated amounts to be remitted in the manner provided for in this Agreement, and the other Hyatt Agreements, as soon as possible thereafter. In the event that, after a period of 90 days, Owner remains unable, on the basis of regulatory controls and notwithstanding Owner’s reasonable and good faith efforts, to remit all or any portion of the amounts due to Hyatt and its Affiliates under the Hyatt Agreements, then Hyatt may terminate this Agreement and the other Hyatt Agreements on 90 days’ advance notice to Owner.
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Currency Controls. If Dainippon is precluded at any time from making any payments due to MGI under the provisions of this Agreement because Dainippon has failed, notwithstanding its Best Efforts, to obtain any governmental approvals that may be required under the laws and regulations in the Territory for such transfers of funds, then Dainippon shall: (a) deposit, or cause its agent to deposit, such sums to an account designated by MGI at a bank or other entity within the Territory; (b) provide, or cause its agent to provide, to MGI documentary evidence of such deposits; and (c) remit such deposits to MGI immediately upon the subsequent receipt of any required governmental approvals for such transfers. Subject to any applicable regulatory requirements, Dainippon further agrees, and shall cause any agent of Dainippon to agree, that the form of such depository account shall permit MGI to withdraw the deposited amounts at will, but neither Dainippon nor any agent of Dainippon shall withdraw the deposited amounts otherwise than for the purpose of remitting such amounts to MGI pursuant to the provisions of this Section.
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Currency Controls. If Kissei is precluded at any time from paying any Milestone Payment or royalties due to MGI under the provisions of Section 7.2 because Kissei has failed, notwithstanding its Best Efforts, to obtain any governmental approvals that may be required under the laws and regulations of any jurisdiction in the Territory for such transfers of funds, then Kissei shall: (a) deposit, or cause its agent to deposit, such sums to the account of MGI at a bank within such jurisdiction designated by MGI; (b) provide, or cause its agent to provide, to MGI documentary evidence of such deposits; and (c) remit such deposits to MGI immediately upon the subsequent receipt of any required governmental approvals for such transfers.
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Currency Controls. There are controls on payments imposed by a Governmental Authority which interfere with the payment of obligations hereunder, any Note or any Subsidiary Guaranty;
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Currency Controls. If, after the designation by the Banks of any currency as an Agreed Currency, (x) currency control or other exchange regulations are imposed in the country in which such currency is issued with the result that different types of such currency are introduced, (y) such currency is, in the determination of the Agent, no longer readily available or freely traded or (z) in the determination of the Agent, a U.S. Dollar Amount Equivalent such currency is not readily calculable, the Agent shall promptly notify the Banks and the Company, and such currency shall no longer be an Agreed Currency until such time as all of the Banks agree to reinstate such currency as an Agreed Currency and promptly, but in any event within five Business Days of receipt of such notice from the Agent, the affected Borrower shall repay all Loans in such affected currency or convert such Loans into Loans in U.S. Dollars or another Agreed Currency, subject to the other terms set forth in this Agreement.
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Related to Currency Controls

  • Currency Fluctuations If on any Computation Date the Revolving Facility Usage is equal to or greater than the Revolving Credit Commitments as a result of a change in exchange rates between one (1) or more Optional Currencies and Dollars, then the Administrative Agent shall notify the Borrower of the same. The Borrower shall pay or prepay (subject to Borrower’s indemnity obligations under Sections 5.8 [Increased Costs] and 5.10 [Indemnity]) within one (1) Business Day after receiving such notice such that the Revolving Facility Usage shall not exceed the aggregate Revolving Credit Commitments after giving effect to such payments or prepayments

  • Administrative Controls The Contractor must have the following controls in place: a. A documented security policy governing the secure use of its computer network and systems, and which defines sanctions that may be applied to Contractor staff for violating that policy. b. If the Data shared under this agreement is classified as Category 4, the Contractor must be aware of and compliant with the applicable legal or regulatory requirements for that Category 4 Data. c. If Confidential Information shared under this agreement is classified as Category 4, the Contractor must have a documented risk assessment for the system(s) housing the Category 4 Data.

  • Personnel Controls The County agrees to advise Contractor Staff, who have access to PII, of the confidentiality of the information, the safeguards required to protect the information, and the civil and criminal sanctions for non-compliance contained in applicable federal and state laws. For that purpose, the Contractor shall implement the following personnel controls:

  • Currency Conversion (a) For the purpose of, or pending the discharge of, any of the Secured Liabilities the Security Agent may convert any moneys received or recovered by the Security Agent from one currency to another, at a market rate of exchange. (b) The obligations of any Transaction Obligor to pay in the due currency shall only be satisfied to the extent of the amount of the due currency purchased after deducting the costs of conversion.

  • Currency Generally For purposes of determining compliance with any Basket under Article VI, VII, or VIII in a currency other than Dollars, no Default or Event of Default shall be deemed to have occurred solely as a result of changes in rates of currency exchange occurring after the time such Indebtedness or Investment is incurred (so long as such Indebtedness or Investment, at the time incurred, made or acquired, was permitted hereunder). For purposes of determining compliance with any Dollar-denominated restriction on the incurrence of Indebtedness, the Dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the case of term debt, or first committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to extend, replace, refund, refinance, renew or defease other Indebtedness denominated in a foreign currency, and such extension, replacement, refunding, refinancing, renewal or defeasance would cause the applicable Dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such extension, replacement, refunding, refinancing, renewal or defeasance, such Dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being extended, replaced, refunded, refinanced, renewed or defeased, plus the aggregate amount of fees, underwriting discounts, premiums (including tender premiums) and other costs and expenses (including OID) incurred in connection with such refinancing, Except with respect to any ratio calculated under any Basket, any subsequent change in rates of currency exchange with respect to any prior utilization or other measurement of a Basket previously made in reliance on such Basket (as the same may have been reallocated in accordance with this Agreement) shall be disregarded for purposes of determining any unutilized portion under such Basket.