Common use of Dollar Transaction Clause in Contracts

Dollar Transaction. This is an international financing transaction in which the specification of Dollars and payment in New York, New York is of the essence, and Dollars shall be the currency of account and of payment in all events. The payment obligations of the Equity Contributor hereunder shall not be discharged by an amount paid in another currency or in another place, whether pursuant to a judgment or otherwise, to the extent that the amount so paid on prompt conversion into Dollars and transfer to New York, New York under normal banking procedures does not yield the amount of Dollars in New York, New York due hereunder. In the event that any payment, whether pursuant to a judgment or otherwise, upon such conversion and transfer does not result in payment of such amount of Dollars in New York, New York, the Administrative Agent or the Company, as the case may be, shall be entitled to demand immediate payment of, and shall, to the fullest extent permitted by law, have a separate cause of action for, such Dollar deficiency.