Currency Fluctuations, etc. (a) Not later than 1:00 p.m., New York City time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to each Local Currency covered by a Local Currency Addendum and (ii) give notice thereof to the Lenders, the Company and the relevant Borrowing Subsidiaries. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "Reset Date") and shall remain effective until the next succeeding Reset Date.
Currency Fluctuations, etc. (a) Not later than 1:00 p.m., New York City time, on each Calculation Date, the Multi-Currency Payment Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to (w) each Multi-Currency for which there are at such time outstanding Multi-Currency Loans or Letters of Credit issued under the Multi-Currency Commitments, (x) the Canadian Dollar if there are at such time outstanding non-Dollar-denominated US$-Canadian Loans and (y) Pounds Sterling and euro if there are at such time outstanding non-Dollar-denominated US$ Loans and (ii) give notice thereof to the Multi-Currency Lenders which have committed to make Multi-Currency Loans in each such Multi-Currency, to the US$-Canadian Lenders which have committed to make US$-Canadian Loans in Canadian Dollars, to the US$ Lenders which have committed to make US$ Loans in Pounds Sterling and euro and to the Company. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a “Reset Date”) and shall remain effective until the next succeeding Reset Date.
Currency Fluctuations, etc. (a) Not later than 1:00 p.m., New York City time, on each Calculation Date, the US Administrative Agent shall determine the Exchange Rate as of such Calculation Date. Except as otherwise provided in Section 2.08 and Section 2.22, the Exchange Rate so determined shall become effective on the first US Business Day immediately following the relevant Calculation Date (a "Reset Date") and shall remain effective until the next succeeding Reset Date.
Currency Fluctuations, etc. (a) Not later than 1:00 p.m., New York City time, on each Calculation Date, the Multi-Currency Payment Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to (x) each Multi-Currency for which there are at such time outstanding Multi-Currency Loans or Letters of Credit issued under the Multi-Currency Commitments and (y) the Canadian Dollar if there are at such time outstanding non-Dollar-denominated US$-Canadian Loans, and (ii) give notice thereof to the Multi-Currency Lenders which have committed to make Multi-Currency Loans in each such Multi-Currency, to the US$-Canadian Lenders which have committed to make US$-Canadian Loans in Canadian Dollars and to the Company. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "RESET DATE") and shall remain effective until the next succeeding Reset Date.
Currency Fluctuations, etc. (a) No later than 2:00 P.M., Toronto time, on each Canadian Calculation Date, the Canadian Administrative Agent shall (i) determine the Canadian Exchange Rate as of such date and (ii) give notice thereof to CFC and CCCL. The Canadian Exchange Rate so determined shall become effective on the first Business Day immediately following the relevant Canadian Calculation Date (a "Canadian Reset Date") and shall remain effective until the next succeeding Canadian Reset Date.
Currency Fluctuations, etc. (a) If, on any Reset Date or any Borrowing Date (after giving effect to (i) any Loans to be made or repaid on such date and (ii) any amendment, supplement or other modification to any Foreign Currency Addendum effective on such date of which the Administrative Agent has received notice), the Aggregate Outstanding Dollar Revolving Extensions of Credit of any Bank exceeds the Dollar Revolving Credit Overage of such Bank (the amount of such excess, the "Dollar Revolving Credit Excess"), then the Administrative Agent shall promptly notify the Company of such Dollar Revolving Credit Excess. Within three Business Days after receiving such notice (during which time the Banks shall not be obligated to make any further Loans hereunder), the Company may (i) prepay Loans other than Foreign Currency Loans (or cause any Borrower to prepay Loans other than Foreign Currency Loans made to it) and/or (ii) as indicated in a facsimile notice (or telephone notice promptly confirmed by facsimile transmission) to the Administrative Agent, reduce the Foreign Currency Maximum Borrowing Amount with respect to any one or more Foreign Currency Addenda (and prepay Foreign Currency Loans to the extent required as a result of such reduction) so that the aggregate amount under clauses (i) and (ii) equals or exceeds and thereby eliminates such Dollar Revolving Credit Excess. To the extent the Company does not so eliminate such Dollar Revolving Credit Excess by the third Business Day, then such Bank's Foreign Currency Bank Maximum Borrowing Amount under each Foreign Currency Addendum to which such Bank is a party shall be reduced on such third Business Day by an amount equal to the product of such Dollar Revolving Credit Excess times a fraction the numerator of which shall equal the Foreign Currency Bank Maximum Borrowing Amount under such Foreign Currency Addendum and the denominator of which shall equal the aggregate of all Foreign Currency Bank Maximum Borrowing Amounts of such Bank under all Foreign Currency Addenda to which it is a party. After giving effect to any such reduction in Foreign Currency Bank Maximum Borrowing Amounts, the Foreign Currency Facility Maximum Borrowing Amount with respect to each Foreign Currency Addendum shall in turn be reduced to an amount equal to the aggregate of Foreign Currency Bank Maximum Borrowing Amounts of all Banks party to such Foreign Currency Addendum. Reductions in Foreign Currency Facility Maximum Borrowing Amounts and Foreign Currency Bank...
Currency Fluctuations, etc. (a) Not later than 1:00 p.m., New York City time, on each Payment Date, Agent shall (i) determine the Exchange Rate as of such date if at such time there are outstanding Eurocurrency Loans denominated in Euros and (ii) give notice thereof to Lenders and Borrowers. The Exchange Rate so determined shall be effective on the first Business Day immediately following the relevant Borrowing Date or Payment Date (a “Reset Date”) and shall remain effective until the next succeeding Reset Date.
Currency Fluctuations, etc. (a) Not later than 1:00 p.m., New York City time, on each Calculation Date, the Multi-Currency Payment Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to each Multi-Currency for which there are at such time outstanding Multi-Currency Loans or Letters of Credit issued under the Multi-Currency Commitments and (ii) give notice thereof to the Multi-Currency Lenders which have committed to make Multi-Currency Loans in each such Multi-Currency and to the Company. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "RESET DATE") and shall remain effective until the next succeeding Reset Date.
Currency Fluctuations, etc. Not later than 1:00 p.m., New York time, on each Calculation Date, the Issuer shall (i) determine the Applicable Exchange Rate as of such Calculation Date with respect to each Qualified Foreign Currency for which there are at such time outstanding Non-U.S. Letters of Credit and (ii) give notice thereof to the Administrative Agent. The Applicable Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a “Reset Date”) and shall remain effective until the next succeeding Reset Date. Not later than 3:00 p.m., New York time, on each Reset Date, the Administrative Agent shall (i) determine the U.S. Dollar Equivalent of the Non-U.S. Letters of Credit in each Qualified Foreign Currency then outstanding (after giving effect to any Loans to be made or repaid on such date) and (ii) notify the Borrower of the results of such determination. CONDITIONS TO EXTENSIONS OF CREDIT Conditions to Initial Extension of Credit. The obligations of the Lenders to fund the initial Extension of Credit shall be subject to the prior or concurrent satisfaction of each of the following conditions:
Currency Fluctuations, etc. (a) Not later than 1:00 p.m., -------------------------- New York City time, on each Calculation Date, the Administrative Agent shall (i) determine the Exchange Rate as of such Calculation Date with respect to each Multi-Currency for which there are at such time outstanding Multi-Currency Revolving Loans or Letters of Credit issued under the Multi-Currency Revolving Commitments and (ii) give notice thereof to the Multi-Currency Revolving Lenders which have committed to make Multi-Currency Revolving Loans in each such Multi- Currency and to the Parent Borrower or the Subsidiary Borrower, as the case may be. The Exchange Rates so determined shall become effective on the first Business Day immediately following the relevant Calculation Date (a "Reset Date") and shall remain ----------- effective until the next succeeding Reset Date.
