Common use of Selection of Optional Currencies Clause in Contracts

Selection of Optional Currencies. (a) A Loan may be denominated in an Optional Currency for a Term if: (i) that Optional Currency is readily available in the amount required and freely convertible into Sterling in the relevant interbank market on the Rate Fixing Day and the first day of that Term; and (ii) that Optional Currency is a Pre-approved Currency or has been previously approved by the Facility Agent (acting on the instruction of all the Lenders). (b) If the Facility Agent has received a request from the Company for a currency to be approved as an Optional Currency (other than a Pre-approved Currency), the Facility Agent must, within five Business Days, confirm to the Company: (i) whether or not the Lenders have given their approval; and (ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency.

Selection of Optional Currencies. (a) A Loan may be denominated in an Optional Currency for a Term if: (i) that Optional Currency is readily available in the amount required and freely convertible into Sterling in the relevant interbank market on the Rate Fixing Day and the first day of that Term; and (ii) that Optional Currency is a Pre-approved Currency or has been previously approved by the Facility Agent (acting on the instruction of all the Lenders). (b) If the Facility Agent has received a request from the Company Borrower for a currency to be approved as an Optional Currency (other than a Pre-approved Currency), the Facility Agent must, within five Business Days, confirm to the CompanyBorrower: (i) whether or not the Lenders have given their approval; and (ii) if approval has been given, the minimum amount (and, if required, integral multiples) for any Loan in that currency.