Common use of Foreign Currency Exchange Rate Clause in Contracts

Foreign Currency Exchange Rate. (a) No later than 1:00 P.M. (New York City time) on each Calculation Date, the Agent shall determine the Spot Exchange Rate as of such Calculation Date with respect to Euros, provided that, upon receipt of a Notice of Revolving Credit Borrowing pursuant to Section 2.02(a), the Agent shall determine the Spot Exchange Rate with respect to Euros on the related Calculation Date (it being acknowledged and agreed that the Agent shall use such Spot Exchange Rate for the purposes of determining compliance with Section 2.01 with respect to such Notice). The Spot Exchange Rate so determined shall become effective on the relevant Calculation Date (a “Reset Date”), shall remain effective until the next succeeding Reset Date and shall for all purposes of this Agreement (other than Section 9.14 and any other provision expressly requiring the use of a current Spot Exchange Rate) be the Spot Exchange Rate employed in converting any amounts between Dollars and Euros. (b) No later than 5:00 P.M. (New York City time) on each Reset Date, the Agent shall determine the aggregate amount of the Dollar Equivalents of the principal amounts of Euro Advances then outstanding (after giving effect to any Euro Advances to be made or repaid on such date). (c) The Agent shall promptly notify the Parent Borrower of each determination of a Spot Exchange Rate hereunder.

Foreign Currency Exchange Rate. (a) No later than 1:00 P.M. (New York City time) on each Calculation Date, the Agent shall determine the Spot Exchange Rate as of such Calculation Date with respect to Euros, provided that, upon receipt of a Notice of Revolving Credit Borrowing pursuant to Section 2.02(a), the Agent shall determine the Spot Exchange Rate with respect to Euros on the related Calculation Date (it being acknowledged and agreed that the Agent shall use such Spot Exchange Rate for the purposes of determining compliance with Section 2.01 with respect to such Notice). The Spot Exchange Rate so determined shall become effective on the relevant Calculation Date (a “Reset Date”), shall remain effective until the next succeeding Reset Date and shall for all purposes of this Agreement (other than Section 9.14 and any other provision expressly requiring the use of a current Spot Exchange Rate) be the Spot Exchange Rate employed in converting any amounts between Dollars and Euros. (ba) No later than 5:00 P.M. (New York City time) on each Reset Date, the Agent shall determine the aggregate amount of the Dollar Equivalents of the principal amounts of Euro Advances then outstanding (after giving effect to any Euro Advances to be made or repaid on such date). (cb) The Agent shall promptly notify the Parent Borrower of each determination of a Spot Exchange Rate hereunder.