Common use of Determination of Equivalent Amounts Clause in Contracts

Determination of Equivalent Amounts. Whenever it is necessary or desirable at any time to determine the Equivalent Amount in Canadian Dollars of an amount expressed in any other Qualified Currency, or vice-versa (specifically including for greater certainty the determination of whether the Outstanding Principal Amount under Facility A or any Tranche thereof exceeds the Facility A Maximum Amount or the maximum amount of such Tranche, as applicable), the Equivalent Amount shall be determined by reference to the Exchange Rate on the date of such determination. Notwithstanding the foregoing, however, for the purpose of determining fees applicable to Letters of Credit issued under Facility A and the standby fee applicable to Facility A or Facility B, the Agent shall make such determination based upon the Exchange Rate in effect on the first (1st) Business Day of the month in which such determination is made.