Common use of Currency Adjustments Clause in Contracts

Currency Adjustments. (a) Notwithstanding anything to the contrary contained in this Agreement, for purposes of calculating any fee in respect of any Multicurrency Letter of Credit in respect of any Business Day, the Administrative Agent shall convert the amount available to be drawn under any Multicurrency Letter of Credit denominated in an Available Foreign Currency into an amount of Dollars based upon the Exchange Rate. (b) Notwithstanding anything to the contrary contained in this Section 3B, a Multicurrency Issuing Lender may agree to issue Multicurrency Letters of Credit denominated in a currency other than Dollars, Euros or an Available Foreign Currency (any such alternative currency, an “Approved Issuing Currency”). Prior to demanding any reimbursement from the Multicurrency L/C Participants pursuant to Section 3B.5 in respect of any Multicurrency Letter of Credit denominated in an Approved Issuing Currency, unless payment is received in respect of such draw on the day of such drawing, the Multicurrency Issuing Lender shall convert the Borrower’s or if applicable, any Foreign Borrower’s obligation under Section 3B.5 to reimburse the Multicurrency Issuing Lender in such Approved Issuing Currency into an obligation to reimburse the Multicurrency Issuing Lender in Dollars. The Dollar amount of the Reimbursement Obligation of the Borrower or any Foreign Borrower and the Multicurrency L/C Participants shall be computed by the Multicurrency Issuing Lender based upon the Exchange Rate in effect for the day on which such conversion occurs.