19Judgment Currency. (a) This in an international transaction in which the obligations of the Credit Parties under this Agreement to make payment to or for account of Agent or the Lenders in a specified currency (“Original Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or converted into any other currency (“Judgment Currency”) except to the extent that such tender or recovery results in the effective receipt by Agent or such Lender of the full amount in Original Currency payable to Agent or such Lender under this Agreement. (b) If Agent, on behalf of the Lenders, or any other holder of the Obligations (the “Applicable Creditor”), obtains a judgment or judgments against any Credit Party in respect of any sum adjudged to be due to Agent or the Lenders hereunder or under the Notes (the “Judgment Amount”) in a Judgment Currency other than the Original Currency, the obligations of such Credit Party in connection with such judgment shall be discharged only to the extent that (i) on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, such Applicable Creditor, in accordance with the normal banking procedures in the relevant jurisdiction, can purchase the Original Currency with the Judgment Currency, and (ii) if the amount of Original Currency so purchased is less than the amount of Original Currency that could have been purchased with the Judgment Amount on the date or dates the Judgment Currency was originally due and owing to Agent or the Lenders hereunder (the “Loss”), such Credit Party or US Borrower, as a separate obligation and notwithstanding any such judgment, indemnifies Agent or such Lender, as the case may be, against such Loss. US Borrower hereby agrees to such indemnification. For purposes of determining the equivalent in one currency of another currency as provided in this Section 11.19, such amount shall include any premium and costs payable in connection with the conversion into or from any currency. The obligations of the Credit Parties contained in this Section 11.19 shall survive the termination of this Agreement and the payment of all other amounts owing hereunder.
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19Judgment Currency. (a) This in an international transaction in which the obligations of the Credit Parties under this Agreement to make payment to or for account of Agent or the Lenders in a specified currency (“Original Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any judgment 192068782_9 expressed in or converted into any other currency (“Judgment Currency”) except to the extent that such tender or recovery results in the effective receipt by Agent or such Lender of the full amount in Original Currency payable to Agent or such Lender under this Agreement.
(b) If Agent, on behalf of the Lenders, or any other holder of the Obligations (the “Applicable Creditor”), obtains a judgment or judgments against any Credit Party in respect of any sum adjudged to be due to Agent or the Lenders hereunder or under the Notes (the “Judgment Amount”) in a Judgment Currency other than the Original Currency, the obligations of such Credit Party in connection with such judgment shall be discharged only to the extent that (i) on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, such Applicable Creditor, in accordance with the normal banking procedures in the relevant jurisdiction, can purchase the Original Currency with the Judgment Currency, and (ii) if the amount of Original Currency so purchased is less than the amount of Original Currency that could have been purchased with the Judgment Amount on the date or dates the Judgment Currency was originally due and owing to Agent or the Lenders hereunder (the “Loss”), such Credit Party or US Borrower, as a separate obligation and notwithstanding any such judgment, indemnifies Agent or such Lender, as the case may be, against such Loss. US Borrower hereby agrees to such indemnification. For purposes of determining the equivalent in one currency of another currency as provided in this Section 11.19, such amount shall include any premium and costs payable in connection with the conversion into or from any currency. The obligations of the Credit Parties contained in this Section 11.19 shall survive the termination of this Agreement and the payment of all other amounts owing hereunder.
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19Judgment Currency. (a) This If, for the purpose of (a) obtaining or enforcing judgment against any Credit Party in an international transaction any court in which the obligations of the Credit Parties under this Agreement any jurisdiction, it becomes necessary to make payment to or for account of Agent or the Lenders in a specified currency (“Original Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or converted convert into any other currency (such other currency being hereinafter in this Section 10.19 referred to as the “Judgment Currency”) except to an amount due under any Loan Document in any currency (the extent that such tender or recovery results “Obligation Currency”) other than the Judgment Currency, the conversion shall be made at the rate of exchange prevailing on the Business Day immediately preceding the date of actual payment of the amount due, in the effective receipt by Agent courts of any other jurisdiction that will give effect to such conversion being made on such date, or the date on which the judgment is given, in the case of any proceeding in the courts of any other jurisdiction (the applicable date as of which such Lender of conversion is made pursuant to this Section 10.19 being hereinafter in this Section 10.19 referred to as the full amount in Original Currency payable to Agent or such Lender under this Agreement“Judgment Conversion Date”).
(b) If AgentIf, on behalf in the case of any proceeding in the court of any jurisdiction referred to in Section 10.19(a) there is a change in the rate of exchange prevailing between the Judgment Conversion Date and the date of actual receipt for value of the Lendersamount due, or any other holder of the Obligations (the “Applicable Creditor”), obtains a judgment or judgments against any applicable Credit Party in respect of any sum adjudged or Credit Parties shall pay or be entitled to be due to Agent or the Lenders hereunder or under the Notes (the “Judgment Amount”) in a Judgment Currency other than the Original Currency, the obligations receive reimbursement of such Credit Party additional amount (if any, but in connection with such judgment shall any event not a lesser amount) as may be discharged only necessary to ensure that the extent that (i) on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due amount actually received in the Judgment Currency, such Applicable Creditorwhen converted at the rate of exchange prevailing on the date of payment, in accordance with the normal banking procedures in the relevant jurisdiction, can purchase the Original Currency with the Judgment Currency, and (ii) if will produce the amount of Original the Obligation Currency so purchased is less than the amount of Original Currency that which could have been purchased with the Judgment Amount on the date or dates amount of the Judgment Currency was originally stipulated in the judgment or judicial order at the rate of exchange prevailing on the Judgment Conversion Date. Any amount due and owing to Agent or the Lenders hereunder (the “Loss”), such from any Credit Party or US Borrower, under this Section 10.19(b) shall be due as a separate obligation debt and notwithstanding shall not be affected by judgment being obtained for any such judgment, indemnifies Agent other amounts due under or such Lender, as the case may be, against such Loss. US Borrower hereby agrees to such indemnification. For purposes in respect of determining the equivalent in one currency of another currency as provided in this Section 11.19, such amount shall include any premium and costs payable in connection with the conversion into or from any currency. The obligations of the Credit Parties contained in this Section 11.19 shall survive the termination of this Agreement and the payment of all other amounts owing hereunderLoan Documents.
Appears in 1 contract
Sources: Term Loan, Guarantee and Security Agreement (Williams Industrial Services Group Inc.)
19Judgment Currency. (a) This in an international transaction in which the obligations of the Credit Parties under this Agreement to make payment to or for account of Agent or the Lenders in a specified currency (“Original Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or converted into any other currency (“Judgment Currency”) except to the extent that such tender or recovery results in the effective receipt by Agent or such Lender of the full amount in Original Currency payable to Agent or such Lender under this Agreement.
(b) If Agent, on behalf of the Lenders, or any other holder of the Obligations (the “Applicable Creditor”), obtains a judgment or judgments against any Credit Party in respect of any sum adjudged to be due to Agent or the Lenders hereunder or under the Notes (the “Judgment Amount”) in a Judgment Currency other than the Original Currency, the obligations of such Credit Party in connection with such judgment shall be discharged only to the extent that (i) on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, such Applicable Creditor, in accordance with the normal banking procedures in the relevant jurisdiction, can purchase the Original Currency with the Judgment Currency, and (ii) if the amount of Original Currency so purchased is less than the amount of Original Currency that could have been purchased with the Judgment Amount on the date or dates the Judgment Currency was originally due and owing to Agent or the Lenders hereunder (the “Loss”), such Credit Party or US Borrower, as a separate obligation and notwithstanding any such judgment, indemnifies Agent or such Lender, as the case may be, against such Loss. US Borrower hereby agrees to such indemnification. For purposes of determining the equivalent in one currency of another currency as provided in this Section 11.19, such amount shall include any premium and costs payable in connection with the conversion into or from any currency. The obligations of the Credit Parties contained in this Section 11.19 shall survive the termination of this Agreement and the payment of all other amounts owing hereunder.
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19Judgment Currency. (a) This If, for the purpose of (a) obtaining or enforcing judgment against any Credit Party in an international transaction any court in which the obligations of the Credit Parties under this Agreement any jurisdiction, it becomes necessary to make payment to or for account of Agent or the Lenders in a specified currency (“Original Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or converted convert into any other currency (such other currency being hereinafter in this Section 10.19 referred to as the “Judgment Currency”) except to an amount due under any Loan Document in any currency (the extent that such tender or recovery results “Obligation Currency”) other than the Judgment Currency, the conversion shall be made at the rate of exchange prevailing on the Business Day immediately preceding the date of actual payment of the amount due, in the effective receipt by Agent courts of any other jurisdiction that will give effect to such conversion being made on such date, or the date on which the judgment is given, in the case of any proceeding in the courts of any other jurisdiction (the applicable date as of which such Lender of conversion is made pursuant to this Section 10.19 being hereinafter in this Section 10.19 referred to as the full amount in Original Currency payable to Agent or such Lender under this Agreement“Judgment Conversion Date”).
(b) If AgentIf, on behalf in the case of any proceeding in the court of any jurisdiction referred to in Section 10.19(a) there is a change in the rate of exchange prevailing between the Judgment Conversion Date and the date of actual receipt for value of the Lendersamount due, or any other holder of the Obligations (the “Applicable Creditor”), obtains a judgment or judgments against any applicable Credit Party in respect of any sum adjudged or Credit Parties shall pay or be entitled to be due to Agent or the Lenders hereunder or under the Notes (the “Judgment Amount”) in a Judgment Currency other than the Original Currency, the obligations receive reimbursement of such Credit Party additional amount (if any, but in connection with such judgment shall any event not a lesser amount) as may be discharged only necessary to ensure that the extent that (i) on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due amount actually received in the Judgment Currency, such Applicable Creditorwhen converted at the rate of exchange prevailing on the date of payment, in accordance with the normal banking procedures in the relevant jurisdiction, can purchase the Original Currency with the Judgment Currency, and (ii) if will produce the amount of Original the Obligation Currency so purchased is less than the amount of Original Currency that which could have been purchased with the Judgment Amount on the date or dates amount of the Judgment Currency was originally stipulated in the judgment or judicial order at the rate of exchange prevailing on the Judgment Conversion Date. Any amount due and owing to Agent or the Lenders hereunder (the “Loss”), such from any Credit Party or US Borrower, under this Section 10.19(b) shall be due as a separate obligation debt and notwithstanding shall not be affected by judgment being obtained for any such judgment, indemnifies Agent other amounts due under or such Lender, as in respect of any of the case may be, against such Loss. US Borrower hereby agrees to such indemnification. For purposes Loan Documents.
(c) The term “rate of determining the equivalent in one currency of another currency as provided exchange” in this Section 11.1910.19 means the rate of exchange at which Agent, such amount shall include any premium and costs payable on the relevant date at or about 12:00 noon (New York time), would be prepared to sell, in connection accordance with Agent’s normal course foreign currency exchange practices, the conversion into or from any currency. The obligations of Obligation Currency against the Credit Parties contained in this Section 11.19 shall survive the termination of this Agreement and the payment of all other amounts owing hereunderJudgment Currency.
Appears in 1 contract
Sources: Term Loan, Guarantee and Security Agreement (Williams Industrial Services Group Inc.)
19Judgment Currency.
(a) This If, for the purpose of (a) obtaining or enforcing judgment against any Credit Party in an international transaction any court in which the obligations of the Credit Parties under this Agreement any jurisdiction, it becomes necessary to make payment to or for account of Agent or the Lenders in a specified currency (“Original Currency”) shall not be discharged or satisfied by any tender or recovery pursuant to any judgment expressed in or converted convert into any other currency (such other currency being hereinafter in this Section 10.19 referred to as the “Judgment Currency”) except to an amount due under any Loan Document in any currency (the extent that such tender or recovery results “Obligation Currency”) other than the Judgment Currency, the conversion shall be made at the rate of exchange prevailing on the Business Day immediately preceding the date of actual payment of the amount due, in the effective receipt by Agent courts of any other jurisdiction that will give effect to such conversion being made on such date, or the date on which the judgment is given, in the case of any proceeding in the courts of any other jurisdiction (the applicable date as of which such Lender of conversion is made pursuant to this Section 10.19 being hereinafter in this Section 10.19 referred to as the full amount in Original Currency payable to Agent or such Lender under this Agreement.“Judgment Conversion Date”).
(b) If AgentIf, on behalf in the case of any proceeding in the court of any jurisdiction referred to in Section 10.19(a) there is a change in the rate of exchange prevailing between the Judgment Conversion Date and the date of actual receipt for value of the Lendersamount due, or any other holder of the Obligations (the “Applicable Creditor”), obtains a judgment or judgments against any applicable Credit Party in respect of any sum adjudged or Credit Parties shall pay or be entitled to be due to Agent or the Lenders hereunder or under the Notes (the “Judgment Amount”) in a Judgment Currency other than the Original Currency, the obligations receive reimbursement of such Credit Party additional amount (if any, but in connection with such judgment shall any event not a lesser amount) as may be discharged only necessary to ensure that the extent that (i) on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due amount actually received in the Judgment Currency, such Applicable Creditorwhen converted at the rate of exchange prevailing on the date of payment, in accordance with the normal banking procedures in the relevant jurisdiction, can purchase the Original Currency with the Judgment Currency, and (ii) if will produce the amount of Original the Obligation Currency so purchased is less than the amount of Original Currency that which could have been purchased with the Judgment Amount on the date or dates amount of the Judgment Currency was originally stipulated in the judgment or judicial order at the rate of exchange prevailing on the Judgment Conversion Date. Any amount due and owing to Agent or the Lenders hereunder (the “Loss”), such from any Credit Party or US Borrower, under this Section 10.19(b) shall be due as a separate obligation debt and notwithstanding shall not be affected by judgment being obtained for any such judgment, indemnifies Agent other amounts due under or such Lender, as the case may be, against such Loss. US Borrower hereby agrees to such indemnification. For purposes in respect of determining the equivalent in one currency of another currency as provided in this Section 11.19, such amount shall include any premium and costs payable in connection with the conversion into or from any currency. The obligations of the Credit Parties contained in this Section 11.19 shall survive the termination of this Agreement and the payment of all other amounts owing hereunder.Loan Documents.
Appears in 1 contract
Sources: Term Loan, Guarantee and Security Agreement (Williams Industrial Services Group Inc.)