Common use of Currency exchanges Clause in Contracts

Currency exchanges. At any time Eurocurrency Rate Loans denominated in an Alternative Currency are required to be converted to Base Rate Loans, the Borrowers shall indemnify the Lenders against any loss or liability arising out of or as a result of the conversion of such Alternative Currency to Dollars and exchange costs and taxes payable in connection with such conversion and the Borrower to which such Loan was made shall forthwith on written demand therefor pay to the Agent, for the benefit of the applicable Lenders, the amount of such loss, liability, costs and taxes.