Same Optional Currency Sample Clauses

The "Same Optional Currency" clause establishes that, when parties have the right to make payments in an optional currency, all payments related to a particular transaction or obligation must be made in the same chosen currency. In practice, this means that if a party elects to pay in a currency different from the original contract currency, all subsequent payments for that obligation must consistently use the selected alternative currency. This clause ensures consistency and avoids confusion or disputes over currency fluctuations, thereby simplifying accounting and settlement processes for both parties.
Same Optional Currency. (a) If a Term Loan is to be continued during its next Interest Period in the same Optional Currency as that in which it is denominated during its current Interest Period, the Agent shall calculate the difference between the amount of the Term Loan (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Term Loan for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Sterling Amount of the Term Loan on the basis of the Agent's Spot Rate of Exchange three Business Days before the commencement of that Interest Period. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- (b) At the end of the current Interest Period (but subject always to paragraph (c) below): (i) if the amount of the Term Loan for the next Interest Period is less than that of the preceding Interest Period, the Company shall repay the difference in such Optional Currency; or (ii) if the amount of the Term Loan for the next Interest Period is greater than that of the preceding Interest Period, each Bank shall forthwith make available to the Agent for the Company its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currency. (c) If the Agent's Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against Sterling of less than five per cent. when compared with the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 9 (Optional Currencies) "Original Exchange Rate" means the Agent's Spot Rate of Exchange used for determining the amount of the Optional Currency for the Interest Period which is the later of the following:
View SourceView Similar (9)
Same Optional Currency. (a) If a Tranche B Advance or Term-out Advance is to be continued during its next Interest Period in the same Optional Currency as that in which it is denominated during its current Interest Period, there shall be calculated the difference between the amount of the Tranche B Advance or Term-out Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Tranche B Advance or Term-out Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Dollar Amount of the Tranche B Advance or Term-out Advance on the basis of the Agent's Spot Rate of Exchange three Business Days before the start of that Interest Period. (b) At the end of the current Interest Period (but subject always to paragraph (c) below): (i) if the amount of the Tranche B Advance or Term-out Advance for the next Interest Period is less than for the preceding Interest Period, the relevant Borrower shall repay the difference; or (ii) if the amount of the Tranche B Advance or Term-out Advance for the next Interest Period is greater than for the preceding Interest Period, each Lender shall forthwith make available to the Agent for the relevant Borrower its participation in the difference. (c) If the Agent's Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against U.S. Dollars of less than ten per cent. when compared with the result achieved by using the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 8.8 and in Clause 8.9 (Prepayments and repayments) "ORIGINAL EXCHANGE RATE" means the Agent's Spot Rate of Exchange used for determining the amount of the Optional Currency for the Interest Period which is the later of the following:
View Source
Same Optional Currency. (a) If a Tranche A Advance or Term-out Advance is to be continued during its next Interest Period in the same Optional Currency as that in which it is denominated during its current Interest Period, there shall be calculated the difference between the amount of the Tranche A Advance or Term-out Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Tranche A Advance or Term-out Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Dollar Amount of the Tranche A Advance or Term-out Advance on the basis of the Agent's Spot Rate of Exchange three Business Days before the commencement of that Interest Period. (b) At the end of the current Interest Period (but subject always to paragraph (c) below): (i) if the amount of the Tranche A Advance or Term-out Advance for the next Interest Period is less than for the preceding Interest Period, the relevant Borrower shall repay the difference; or (ii) if the amount of the Tranche A Advance or Term-out Advance for the next Interest Period is greater, each Bank shall forthwith make available to the Agent for the relevant Borrower its participation in the difference. (c) If the Agent's Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against Dollars of less than five per cent. when
View Source
Same Optional Currency. (a) If a Tranche A Advance is to be continued during its next Interest Period in the same Optional Currency as that in which it is denominated during its current Interest Period, there shall be calculated the difference between the amount of the Tranche A Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Tranche A Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Euro Amount of the Tranche A Advance on the basis of the Agent's Spot Rate of Exchange two Business Days before the commencement of that Interest Period. (b) At the end of the current Interest Period (but subject always to paragraph (c) below): (i) if the amount of the Tranche A Advance for the next Interest Period is less than for the preceding Interest Period, the Borrower shall repay the difference; or (ii) if the amount of the Tranche A Advance for the next Interest Period is greater, each Tranche A Bank shall forthwith make available to the Agent for the Borrower its participation in the difference. -------------------------------------------------------------------------------- 45 42 -------------------------------------------------------------------------------- (c) If the Agent's Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against Euro of less than five per cent. when compared with the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 12, "ORIGINAL EXCHANGE RATE" means the Agent's Spot Rate of Exchange used for determining the amount of the Optional Currency for the Interest Period which is the later of the following:
View Source

Related to Same Optional Currency

  • Optional Currencies 25 8. Repayment....................................................... 29 9.

  • Base Currency For the purposes of any calculation hereunder, we may convert amounts denominated in any other currency into the Base Currency at such rate prevailing at the time of the calculation as we shall reasonably select.

  • Selection of currency A Borrower (or the Company on behalf of a Borrower) shall select the currency of a Loan in a Utilisation Request.

  • Base Rate Loans Substituted for Affected Euro-Dollar Loans If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and (ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.

  • Conversion of Currency (a) The Company covenants and agrees that the following provisions shall apply to conversion of currency in the case of the Securities and this Indenture: (i) If for the purposes of obtaining judgment in, or enforcing the judgment of, any court in any country, it becomes necessary to convert into a currency (the “Judgment Currency”) an amount due or contingently due in any other currency under the Securities of any series and this Indenture (the “Base Currency”), then the conversion shall be made at the rate of exchange prevailing on the Business Day before the day on which a final judgment is given or the order of enforcement is made, as the case may be (unless a court shall otherwise determine). (ii) If there is a change in the rate of exchange prevailing between the Business Day before the day on which the judgment referred to in (i) above is given or an order of enforcement is made, as the case may be (or such other date as a court shall determine), and the date of receipt of the amount due, the Company shall pay such additional (or, as the case may be, such lesser) amount, if any, as may be necessary so that the amount paid in the Judgment Currency when converted at the rate of exchange prevailing on the date of receipt will produce the amount in the Base Currency originally due. (b) In the event of the winding-up of the Company at any time while any amount or damages owing under the Securities and this Indenture, or any judgment or order rendered in respect thereof, shall remain outstanding, the Company shall indemnify and hold the Holders and the Trustees harmless against any deficiency arising or resulting from any variation in rates of exchange between (1) the date as of which the equivalent of the amount in the Base Currency due or contingently due under the Securities and this Indenture (other than under this Subsection (b)) is calculated for the purposes of such winding-up, and (2) the final date for the filing of proofs of claim in such winding-up. For the purpose of this Subsection (b) the final date for the filing of proofs of claim in the winding-up of the Company shall be the date fixed by the liquidator or otherwise in accordance with the relevant provisions of applicable law as being the latest practicable date as at which liabilities of the Company may be ascertained for such winding-up prior to payment by the liquidator or otherwise in respect thereto. (c) The obligations contained in Subsections (a)(ii) and (b) of this Section shall constitute separate and independent obligations of the Company from its other obligations under the Securities and this Indenture, shall give rise to separate and independent causes of action against the Company, shall apply irrespective of any waiver or extension granted by any Holder or the Trustees or either of them from time to time and shall continue in full force and effect notwithstanding any judgment or order or the filing of any proof of claim in the winding-up of the Company for a liquidated sum in respect of amounts due hereunder (other than under Subsection (b) above) or under any such judgment or order. Any such deficiency as aforesaid shall be deemed to constitute a loss suffered by the Holders or the Trustees, as the case may be, and no proof or evidence of any actual loss shall be required by the Company or its liquidator. In the case of Subsection (b) above, the amount of such deficiency shall not be deemed to be increased or reduced by any variation in rates of exchange occurring between the said final date and the date of any liquidating distribution.