Common use of Same Optional Currency Clause in Contracts

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:

Appears in 1 contract

Sources: Multicurrency Revolving Credit Facility (Scottish Power PLC)

Same Optional Currency. (a) If a Term Loan 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, the Agent there shall calculate be calculated the difference between the amount of the Term Loan Term-out Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Term Loan Term-out Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Sterling Dollar Amount of the Term Loan Term-out Advance on the basis of the Agent's Spot Rate of Exchange three Business Days before the commencement 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 Term Loan Term-out Advance for the next Interest Period is less than that of for the preceding Interest Period, the Company relevant Borrower shall repay the difference in such Optional Currencydifference; or (ii) if the amount of the Term Loan Term-out Advance for the next Interest Period is greater than that of for the preceding Interest Period, each Bank Lender shall forthwith make available to the Agent for the Company relevant Borrower its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currencydifference. (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 Dollars of less than five 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 9 8.8 (Same Optional CurrenciesCurrency) 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:

Appears in 1 contract

Sources: Revolving Credit Facility (Vodafone Group Public LTD Co)

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 there shall calculate be calculated 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 AgentBank'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 (in that Optional Currency) for the next Interest Period is less than that of for the preceding Interest Period, the Company Borrower shall repay the difference in such Optional Currencydifference; or or (ii) if the amount of the Term Loan for the next Interest Period is greater than that of greater, the preceding Interest Period, each Bank shall forthwith make available to that Borrower the Agent for the Company its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currencydifference. (c) If the AgentBank'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 11 (Amount of Optional CurrenciesCurrencies for Term Loans) "Original Exchange RateORIGINAL EXCHANGE RATE" means the AgentBank'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:: (i) the Interest Period during which the Term Loan was first denominated in that Optional Currency if the Term Loan has since then remained denominated in that Optional Currency; and (ii) the most recent Interest Period immediately prior to which a difference was required to be paid under this Clause 11.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Facility (Aegis Acquisition Corp)

Same Optional Currency. (a) If a Term Loan Tranche B 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, the Agent there shall calculate be calculated the difference between the amount of the Term Loan Tranche B Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Term Loan Tranche B Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Sterling Amount of the Term Loan Tranche B 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 Term Loan Tranche B Advance for the next Interest Period is less than that of for the preceding Interest Period, the Company Getty U.K. shall repay the difference in such Optional Currencyon the last day of the current Interest Period; or (ii) if the amount of the Term Loan Tranche B Advance for the next Interest Period is greater than that of greater, the preceding Interest Period, each Bank Banks in the proportion which their respective Tranche B Commitments bear to the aggregate Tranche B Commitments shall forthwith make available to Getty U.K. the Agent for the Company its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currencydifference. (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. (5%) when compared with the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 9 (Optional Currencies) 6 "Original Exchange RateORIGINAL 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:

Appears in 1 contract

Sources: Credit Agreement (Getty Images Inc)

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 there shall calculate be calculated the difference between the amount of the Term such Loan (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Term such Loan for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Sterling Dollar Amount of the Term such 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):below):- (i) if the amount of the Term such Loan for the next Interest Period is less than that of for the preceding Interest Period, the Company Borrower shall repay the difference in such Optional Currencydifference; or (ii) if the amount of the Term such Loan for the next Interest Period is greater than that of the preceding Interest Periodgreater, each Bank shall forthwith make available to the Agent for the Company Borrower its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currencydifference. (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 Dollars 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 11 (Amount of 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:following:-

Appears in 1 contract

Sources: Revolving Credit and Term Loan Facility (Cobe Laboratories Inc)

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 there shall calculate be calculated 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 for the preceding Interest Period, the Company relevant Borrower shall repay the difference in such Optional Currencydifference; or (ii) if the amount of the Term Loan for the next Interest Period is greater than that of the preceding Interest Periodgreater, each Bank shall (unless an Event of Default has occurred which is then continuing) forthwith make available to the Agent for the Company that Borrower its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currencydifference. (c) If the Sterling equivalent of a Loan calculated by reference to 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 Sterling equivalent of a Loan calculated by reference to the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 9 (Optional Currencies) 11 "Original Exchange RateORIGINAL 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:

Appears in 1 contract

Sources: Multicurrency Revolving Credit Facility (Ti Group PLC)

Same Optional Currency. (a) If a Term Loan 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, the Agent there shall calculate be calculated the difference between the amount of the Term Loan Tranche A Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Term Loan Tranche A Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Sterling Euro Amount of the Term Loan Tranche A Advance on the basis of the Agent's Spot Rate of Exchange three 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 Term Loan Tranche A Advance for the next Interest Period is less than that of for the preceding Interest Period, the Company Borrower shall repay the difference in such Optional Currencydifference; or (ii) if the amount of the Term Loan Tranche A Advance for the next Interest Period is greater than that of the preceding Interest Periodgreater, each Tranche A Bank shall forthwith make available to the Agent for the Company Borrower its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currencydifference. (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 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 9 (Optional Currencies) 12, "Original Exchange RateORIGINAL 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:

Appears in 1 contract

Sources: Facility Agreement (Polska Telefonia Cyfrowa Sp Zoo)

Same Optional Currency. (a) If a Term Loan 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, the Agent there shall calculate be calculated the difference between the amount of the Term Loan Term-out Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Term Loan Term-out Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Sterling Dollar Amount of the Term Loan Term-out Advance on the basis of the Agent's ’s Spot Rate of Exchange three Business Days before the commencement 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 Term Loan Term-out Advance for the next Interest Period is less than that of for the preceding Interest Period, the Company relevant Borrower shall repay the difference in such Optional Currencydifference; or (ii) if the amount of the Term Loan Term-out Advance for the next Interest Period is greater than that of for the preceding Interest Period, each Bank Lender shall forthwith make available to the Agent for the Company relevant Borrower its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currencydifference. (c) If the Agent's ’s Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against Sterling Dollars of less than five 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 9 8.8 (Same Optional CurrenciesCurrency) "and in Clause 8.9 (Prepayments and repayments) “Original Exchange Rate" means the Agent's ’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:

Appears in 1 contract

Sources: 364 Day Facility Agreement (Vodafone Group Public LTD Co)

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 there shall calculate be calculated the difference between the amount of the Term such Loan (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Term such Loan for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Sterling Dollar Amount of the Term such 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):below):- (i) if the amount of the Term such Loan for the next Interest Period is less than that of for the preceding Interest Period, the Company Borrower shall repay the difference in such Optional Currencydifference; or (ii) if the amount of the Term such Loan for the next Interest Period is greater than that of the preceding Interest Periodgreater, each Bank shall forthwith make available to the Agent for the Company Borrower its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currencydifference. (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 Dollars of less than five per cent. percent when compared with the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 9 11 (Amount of 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:following:-

Appears in 1 contract

Sources: Revolving Credit Facility (Incentive Ab)