Common use of Currency Conversion and Currency Indemnity Clause in Contracts

Currency Conversion and Currency Indemnity. (a) The Canadian Borrower shall make payment relative to any Canadian Advance or Canadian Letter of Credit in Canadian Dollars. If any payment is received on account of any Canadian Advance or Canadian Letter of Credit in any currency (the “Other Currency”) other than Canadian Dollars (whether voluntarily, pursuant to any Conversion of a Canadian Borrowing or pursuant to an order or judgment or the enforcement thereof or the realization of any security or the liquidation of the Canadian Borrower or otherwise howsoever), such payment shall constitute a discharge of the liability of the Canadian Borrower hereunder and under the other Loan Documents in respect thereof only to the extent of the amount of Canadian Dollars which the Canadian Administrative Agent or relevant Canadian Banks are able to purchase with the amount of the Other Currency received by it on the Canadian Business Day next following such receipt in accordance with its normal procedures and after deducting any premium and costs of exchange.

Currency Conversion and Currency Indemnity. (a) The Canadian Borrower shall make payment relative to any Canadian Advance or Canadian Letter of Credit in Canadian Dollars. If any payment is received on account of any Canadian Advance or Canadian Letter of Credit in any currency (the “"Other Currency”") other than Canadian Dollars (whether voluntarily, pursuant to any Conversion of a Canadian Borrowing or pursuant to an order or judgment or the enforcement thereof or the realization of any security or the liquidation of the Canadian Borrower or otherwise howsoever), such payment shall constitute a discharge of the liability of the Canadian Borrower hereunder and under the other Loan Documents in respect thereof only to the extent of the amount of Canadian Dollars which the Canadian Administrative Agent or relevant Canadian Banks are able to purchase with the amount of the Other Currency received by it on the Canadian Business Day next following such receipt in accordance with its normal procedures and after deducting any premium and costs of exchange.