Common use of Exchange Rate Calculations Clause in Contracts

Exchange Rate Calculations. The Canadian Administrative Agent shall determine the U.S. Dollar Equivalent of any Canadian Alternate Base Rate Loan or B/A as of the date on which such Loan is made or B/A is accepted and purchased and as of the last Business Day of each subsequent calendar quarter (each, a “Reset Date”), in each case using the Exchange Rate for Canadian Dollars in relation to U.S. Dollars in effect on the last Business Day of the calendar quarter preceding the date of such Borrowing or acceptance and purchase (or, if such Borrowing or acceptance and purchase occurs on the last Business Day of a calendar quarter, on such Business Day) and as of the last Business Day of such subsequent calendar quarter, as the case may be, and each such amount shall, except as provided in the last two sentences of this Section, be the U.S. Dollar Equivalent of such Canadian Alternate Base Rate Loan or B/A until the next Reset Date. The Canadian Administrative Agent shall notify the Company and the Lenders of each calculation of the U.S. Dollar Equivalent of each Borrowing and B/A. Notwithstanding the foregoing, for purposes of Section 10.14 or any other provision of this Agreement expressly requiring the use of a current exchange rate, all amounts incurred, outstanding or proposed to be incurred or outstanding in Canadian Dollars shall be translated into U.S. Dollars at the Exchange Rate in effect on the date of such determination. For purposes of Section 6.03, amounts in Canadian Dollars shall be translated into U.S. Dollars at the currency exchange rates used in preparing the Company’s annual and quarterly financial statements.