Foreign Currency Borrowings Clause Samples

The Foreign Currency Borrowings clause governs the terms under which a party may borrow funds in a currency other than the local or contractually specified currency. It typically outlines the conditions for such borrowings, including permissible currencies, applicable interest rates, and any requirements for currency conversion or hedging to manage exchange rate risk. This clause is essential for clarifying the rights and obligations related to foreign currency loans, helping to allocate risk and prevent disputes arising from currency fluctuations or regulatory restrictions.
Foreign Currency Borrowings. In order to request a Borrowing consisting of Foreign Currency Revolving Loans, a Borrower shall give the Administrative Agent written or telecopy notice (or telephone notice promptly confirmed in writing or by telecopy) at the Applicable Office, not later than 12:00 noon, Applicable Time, five Business Days before a proposed Borrowing. Any such notice of Borrowing shall be irrevocable and shall be substantially in the form of Exhibit H-2 hereto and shall in each case refer to this Amended Agreement and specify (i) that a Borrowing consisting of Foreign Currency Revolving Loans is requested, (ii) the date of the requested Borrowing (which shall be a Business Day), (iii) the requested Foreign Currency, (iv) the aggregate principal amount requested to be borrowed and (v) the Interest Period(s) therefor. If such Borrower shall fail to specify in any such notice of Borrowing an applicable Interest Period, then such notice shall be deemed to be a request for an Interest Period of one month. The Administrative Agent shall give notice to each Lender promptly upon receipt of each such Notice of Borrowing pursuant to this Section 2.04(b), the contents thereof and the amount equal to each such Lender's Revolving Credit Commitment of the Borrowing to be made pursuant thereto.
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Foreign Currency Borrowings. Subject to the terms and conditions of this Agreement, with respect to each Available Foreign Currency, each Applicable Foreign Currency Lender severally agrees to make loans (each a "Foreign Currency Loan" and collectively the "Foreign Currency Loans") in such Available Foreign Currency to the Borrowers (and, in the case of each Canadian Lender, to make available Canadian Banker's Acceptances for Anixter Canada Inc. in accordance with the terms of Schedule 2.04BA) from time to time on any Business Day during the period from the Closing Date to the Maturity Date in an aggregate Dollar Equivalent amount at any time outstanding not to exceed such Foreign Currency Lender's Applicable Foreign Currency Commitment in respect of such Available Foreign Currency; provided that after giving effect to any Foreign Currency Borrowing, (i) the Total Outstandings shall not at any time exceed the Aggregate Commitments, (ii) the aggregate Outstanding Amount of all Foreign Currency Loans in such Available Foreign Currency of any Foreign Currency Lender (and, in the case of Canadian Dollars, Canadian Banker's Acceptances) shall not at any time exceed the Applicable Foreign Currency Commitment of such Foreign Currency Lender, (iii) the aggregate Outstanding Amount of all Foreign Currency Loans in such Available Foreign Currency (and, in the case of a Canadian Lender, Canadian Banker's Acceptances) shall not at any time exceed the aggregate Applicable Foreign Currency Commitments in respect of such Available Foreign Currency, (iv) the aggregate Outstanding Amount of all Foreign Currency Loans and Canadian Banker's Acceptances shall not at any time exceed the Aggregate Foreign Currency Commitment, and (v) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender's Pro Rata Share of the Outstanding Amount of all L/C Obligations, Swing Line Loans, Foreign Currency Loans and Canadian Banker's Acceptances shall not exceed such Lender's Commitment. Subject to the terms and conditions hereof, each Borrower may borrow under this Section 2.04, prepay under Section 2.06 and reborrow under this Section 2.04 from time to time.
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Foreign Currency Borrowings. The Administrative Agent shall determine the Dollar Equivalent amount on each of the following dates: (a) with respect to any Loan, each of the following: (i) each date of a Borrowing of a Eurocurrency Rate Loan denominated in a Foreign Currency, (ii) each date of a continuation of a Eurocurrency Rate Loan denominated in a Foreign Currency pursuant to Section 2.02, and (iii) such additional dates as the Administrative Agent shall determine or the Required Lenders shall require; and (b) with respect to any Letter of Credit, each of the following: (i) each date of issuance of a Letter of Credit denominated in a Foreign Currency, (ii) each date of an amendment of any such Letter of Credit having the effect of increasing the amount thereof (solely with respect to the increased amount), (iii) each date of any payment by the L/C Issuer under any Letter of Credit denominated in a Foreign Currency and (iv) such additional dates as the Administrative Agent or the L/C Issuer shall determine or the Required Lenders shall require (any of the foregoing dates, a “Determination Date”).
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Foreign Currency Borrowings 
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Related to Foreign Currency Borrowings

  • Revolving Borrowings Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrower, in Dollars, from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving Commitment; provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (ii) the Revolving Exposure of any Lender shall not exceed such Revolving Lender’s Revolving Commitment. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow Revolving Loans, prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Revolving Borrowing.

  • Eurocurrency Loans The Loans constituting each Eurocurrency Borrowing shall bear interest at a rate per annum equal to the Adjusted LIBO Rate for the related Interest Period for such Borrowing plus the Applicable Margin.

  • Revolving Credit Borrowings Subject to the terms and conditions expressly set forth herein, on the Closing Date (subject to the Closing Date Revolver Cap) and thereafter each Revolving Credit Lender severally agrees to make Revolving Credit Loans denominated in an Approved Currency to the Borrower pursuant to Section 2.02 (each such loan, together with any loans made pursuant to an Extended Revolving Credit Commitment, Incremental Revolving Loans and Refinancing Revolving Credit Loans, a “Revolving Credit Loan”) from time to time, on any Business Day during the period from the Closing Date until the Maturity Date, in an aggregate principal amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided that after giving effect to any Revolving Credit Borrowing, the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Lender’s Pro Rata Share or other applicable share provided for under this Agreement of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share or other applicable share provided for under this Agreement of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Credit Commitment. Within the limits of each Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and re-borrow under this Section 2.01(b) in each case without premium or penalty (subject to Section 3.05). Revolving Credit Loans denominated in Dollars may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.

  • Procedure for Borrowing Swingline Loans The Borrower shall give the Agent and the Swingline Lender notice pursuant to a Notice of Swingline Borrowing or telephonic notice of each borrowing of a Swingline Loan. Each Notice of Swingline Borrowing shall be delivered to the Swingline Lender no later than 3:00 p.m. on the proposed date of such borrowing. Any such notice given telephonically shall include all information to be specified in a written Notice of Swingline Borrowing and shall be promptly confirmed in writing by the Borrower pursuant to a Notice of Swingline Borrowing sent to the Swingline Lender by telecopy on the same day of the giving of such telephonic notice. On the date of the requested Swingline Loan and subject to satisfaction of the applicable conditions set forth in Article V. for such borrowing, the Swingline Lender will make the proceeds of such Swingline Loan available to the Borrower in Dollars, in immediately available funds, at the account specified by the Borrower in the Notice of Swingline Borrowing not later than 4:00 p.m. on such date.