Common use of Foreign Currency Indemnity Clause in Contracts

Foreign Currency Indemnity. If Foreign Currency is received by the Agent or a Bank as a result of a court or tribunal order or as a result of a distribution under an Insolvency Provision, then as a separate, additional and continuing liability (notwithstanding such order or distribution) the Borrower will pay to the Agent or Bank any deficiency in the amount of Dollars actually received by the Agent or Bank resulting from any variation between: (a) the rate of exchange at which the amount of Foreign Currency was calculated for the purposes of the court or tribunal order or the distribution; and (b) the rate of exchange at which the Agent or Bank is able to purchase Dollars with the amount of Foreign Currency actually received by the Agent or Bank.

Foreign Currency Indemnity. If Foreign Currency is received by the an Agent or a Bank as a result of a court or tribunal order or as a result of a distribution under an Insolvency Provision, then as a separate, additional and continuing liability (notwithstanding such order or distribution) the Borrower will pay to the Agent or Bank any deficiency in the amount of Dollars actually received by the Agent or Bank resulting from any variation between: (a) the rate of exchange at which the amount of Foreign Currency was calculated for the purposes of the court or tribunal order or the distribution; and (b) the rate of exchange at which the Agent or Bank is able to purchase Dollars with the amount of Foreign Currency actually received by the Agent or Bank.