Foreign Currency Note Clause Samples

Foreign Currency Note. If this Global Note is a Foreign Currency Note, the principal and premium, if any, and interest on this Global Note are payable by Québec in the Foreign Currency shown on the face hereof. If the box under the heading “Payments of Principal and Premium, if any, and Interest” shown on the face hereof marked “U.S. dollars” has been checked, Citibank, N.A., in its capacity as exchange rate agent, or such other person as shall be appointed by Québec (the “Exchange Rate Agent”, which term shall include, unless the context otherwise requires, its successors and assigns), will convert all payments of principal and premium, if any, and interest on this Global Note to U.S. dollars, unless an owner of a beneficial interest in this Global Note elects to receive such payments in the Foreign Currency as described below. Any U.S. dollar amount to be received by a Holder of this Global Note will be based on either a bid quotation that the Exchange Rate Agent or any of its affiliates quotes, which shall be a competitive quotation in the market at that time for such a transaction, or a bid quotation from a leading foreign exchange bank in The City of New York selected by the Exchange Rate Agent, at 11:00 a.m., New York City time, on the second Business Day preceding the applicable payment date for purchase by the Exchange Rate Agent of the Foreign Currency for U.S. dollars for settlement on such payment date in the aggregate amount of the Foreign Currency due to all Holders of Notes scheduled to receive U.S. dollar payments. All currency exchange risks and costs will be borne by the Holder of this Global Note by deductions from such payments. Notwithstanding the above, the owner of a beneficial interest in this Global Note may elect to receive payment of the principal of and premium, if any, and interest on this Global Note in the Foreign Currency by transmitting a written request for such payment (and designating at the same time the appropriate bank account to which the payment will be made) to the participant through which its interest is held on or prior to the applicable Record Date or at least fifteen days prior to the applicable Maturity Date, as the case may be. Such participant must notify the Depositary of such election and designated bank account on or prior to the third Business Day after the applicable Record Date or at least ten days prior to the applicable Maturity Date, as the case may be. Such Depositary must notify the Fiscal Agent of such election and des...