Currency Provisions. Section 4.01. Currencies in which Withdrawals are to be made. Except as the Borrower and the Trustee shall otherwise agree, withdrawals from the Credit Account shall be made in the respective currencies in which the expenditures to be financed out of the proceeds of the Credit have been paid or are payable; provided, however, that withdrawals in respect of expenditures in the currency of the Borrower shall be made in such currency or currencies as the Trustee shall from time to time reasonably select.
Currency Provisions. (a) If payment is not made in the currency due under this Agreement (the “Contractual Currency”) or if any court or tribunal shall render a judgment or order for the payment of amounts due hereunder or under any promissory notes issued pursuant hereto and such judgment is expressed in a currency other than the Contractual Currency, the relevant Borrower shall indemnify and hold the relevant Lenders harmless against any deficiency incurred by such Lenders with respect to the amount received by such Lenders to the extent the rate of exchange at which the Contractual Currency is convertible into the currency actually received or the currency in which the judgment is expressed (the “Received Currency”) is not the reciprocal of the rate of exchange at which the Administrative Agent would be able to purchase the Contractual Currency with the Received Currency, in each case on the Business Day following receipt of the Received Currency in accordance with normal banking procedures. If the court or tribunal has fixed the date on which the rate of exchange is determined for the conversion of the judgment currency into the Contractual Currency (the “Currency Conversion Date”) and if there is a change in the rate of exchange prevailing between the Currency Conversion Date and the date of receipt by the relevant Lenders, then the relevant Borrower will, notwithstanding such judgment or order, pay such additional amount (if any) as may be necessary to ensure that the amount paid in the Received Currency when converted at the rate of exchange prevailing on the date of receipt will produce the amount then due to the relevant Lenders from such Borrower hereunder in the Contractual Currency.
Currency Provisions. The obligations of the Company pursuant to this Agreement in respect of any sum due to the Agent shall, notwithstanding any judgment in a currency other than United States dollars, not be discharged until the first business day, following receipt by the Agent of any sum adjudged to be so due in such other currency, on which the Agent may in accordance with normal banking procedures purchase United States dollars with such other currency. If the United States dollars so purchased are less than the sum originally due to the Agent in United States dollars hereunder, the Company agrees as a separate obligation and notwithstanding any such judgment, to indemnify the Agent against such loss. If the United States dollars so purchased are greater than the sum originally due to the Agent hereunder, the Agent agrees to pay to the Company an amount equal to the excess of the dollars so purchased over the sum originally due to the Agent hereunder. All payments made by the Company under this Agreement, if any, will be made without withholding or deduction for or on account of any present or future taxes, duties, assessments or governmental charges of whatever nature (other than taxes on net income) imposed or levied by or on behalf of the Province of British Columbia or any political subdivision or any taxing authority thereof or therein unless the Company is or becomes required by law to withhold or deduct such taxes, duties, assessments or other governmental charges. In such event, the Company will pay such additional amounts as will result, after such withholding or deduction, in the receipt by the Agent and each person controlling the Agent, as the case may be, of the amounts that would otherwise have been receivable in respect thereof.
Currency Provisions. The obligations of the Company pursuant to this Agreement in respect of any sum due to the Underwriters shall, notwithstanding any judgment in a currency other than United States dollars, not be discharged until the first business day, following receipt by the Underwriters of any sum adjudged to be so due in such other currency, on which the Underwriters may in accordance with normal banking procedures purchase United States dollars with such other currency. If the United States dollars so purchased are less than the sum originally due to the Underwriters in United States dollars hereunder, the Company agrees as a separate obligation and notwithstanding any such judgment, to indemnify the Underwriters against such loss. If the United States dollars so purchased are greater than the sum originally due to the Underwriters hereunder, the Underwriters agree to pay to the Company an amount equal to the excess of the dollars so purchased over the sum originally due to the Underwriters hereunder. All payments made by the Company under this Agreement, if any, will be made without withholding or deduction for or on account of any present or future taxes, duties, assessments or governmental charges of whatever nature (other than taxes on net income) imposed or levied by or on behalf of the Province of British Columbia or any political subdivision or any taxing authority thereof or therein unless the Company is or becomes required by law to withhold or deduct such taxes, duties, assessments or other governmental charges. In such event, the Company will pay such additional amounts as will result, after such withholding or deduction, in the receipt by the Underwriters and each person controlling the Underwriters, as the case may be, of the amounts that would otherwise have been receivable in respect thereof.
Currency Provisions. The obligations of the Company pursuant to this Agreement in respect of any sum due to the Agent shall, notwithstanding any judgment in a currency other than United States dollars, not be discharged until the first business day, following receipt by the Agent of any sum adjudged to be so due in such other currency, on which the Agent may in accordance with normal banking procedures purchase United States dollars with such other currency. If the United States dollars so purchased are less than the sum originally due to the Agent in United States dollars hereunder, the Company agrees as a separate obligation and notwithstanding any such judgment, to indemnify the Agent against such loss. If the United States dollars so purchased are greater than the sum originally due to the Agent hereunder, the Agent agrees to pay to the Company an amount equal to the excess of the dollars so purchased over the sum originally due to the Agent hereunder.
Currency Provisions. (a) The Company agrees to indemnify each Underwriter, each employee, officer and director of each Underwriter and each person, if any, who controls any Underwriter within the meaning of the Act and each broker-dealer or other affiliate of any Underwriter, against any loss incurred as a result of any judgment or order being given or made for any amount due hereunder and such judgment or order being expressed and paid in a currency (the “judgment currency”) other than U.S. dollars and as a result of any variation as between (i) the rate of exchange at which the U.S. dollar amount is converted into the judgment currency for the purpose of such judgment or order, and (ii) the rate of exchange at which such indemnified person is able to purchase U.S. dollars with the amount of the judgment currency actually received by the indemnified person. The foregoing indemnity shall constitute a separate and independent obligation of the Company and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term “rate of exchange” shall include any premiums and costs of exchange payable in connection with the purchase of, or conversion into, the relevant currency.
Currency Provisions. (a) An Advance may be denominated in a Foreign Currency only if the Administrative Agent is satisfied in its sole discretion that deposits in such currency for a period comparable to the relevant Interest Period and for an amount comparable to the amount of the Advance which shall be outstanding during such Interest Period will be available to the Banks in the normal course of business at the beginning of such Interest Period. If the Administrative Agent is not so satisfied, such Advance shall (unless the Company
Currency Provisions. The obligations of the Company pursuant to this Agreement in respect of any sum due to the Agent shall, notwithstanding any judgment in a currency other than United States dollars, not be discharged until the first Business Day, following receipt by the Agent of any sum adjudged to be so due in such other currency, on which the Agent may in accordance with normal banking procedures purchase United States dollars with such other currency. If the United States dollars so purchased are less than the sum originally due to the Agent in United States dollars hereunder, the Company agrees as a separate obligation and notwithstanding any such judgment, to indemnify the Agent against such loss. If the United States dollars so purchased are greater than the sum originally due to the Agent hereunder, the Agent agrees to pay to the Company an amount equal to the excess of the dollars so purchased over the sum originally due to the Agent hereunder. All payments made by the Company under this Agreement shall be made free and clear of any withholding or deduction for or on account of any present or future taxes, duties, assessments or governmental charges of whatever nature (including any amounts that result from the payment of fees, compensation or reimbursement of costs contemplated by this Agreement) imposed or levied by or on behalf of the Netherlands or by any department, agency or other political subdivision or any taxing authority thereof or therein, and all interest, penalties or similar liabilities with respect thereto (collectively, “Dutch Taxes”), unless such deduction or withholding is required by law. If any Dutch Taxes are required by law to be deducted or withheld by the Company in connection with such payment or repurchase, the Company will increase the amount to be paid to the Agent so that the full amount of such payment is received by the Agent, provided that the Company will not be required to pay any such additional amounts to the extent that the obligation to withhold or deduct any amounts arises as a result of any present or former connection between the Agent and the relevant jurisdiction other than any such connection arising solely as a result of the transaction described in this Agreement. All references in this Agreement to the Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to XXXXX. All references in this Agreement to financia...
Currency Provisions. 2.4.1 All reports and schedules of Accounts delivered by Client to Administrative Purchaser under this Agreement, including with respect to Accounts offered for sale to Purchaser hereunder, shall reflect USD Accounts in US Dollars and CAD Accounts in Canadian Dollars. Payments by Purchaser of the Purchase Price for CAD Accounts or otherwise in respect of CAD Accounts shall be made, and credited to the Client Ledger Account, in Canadian Dollars. Payments by Purchaser of the Purchase Price for USD Accounts or otherwise in respect of USD Accounts shall be made, and credited to the Client Ledger Account, in US Dollars.
Currency Provisions. All requests for Loans shall be accompanied by a request from the Borrower requesting the Loan as to the type of currency that is desired with respect to such Loan. Advances under the Revolving Credit Facility will be available only in US Dollars or in Sterling, provided however, that: (i) each Loan shall be made in only one currency; (ii) the Bank shall perform the notional conversion into US Dollars of any Sterling requested and (iii) total Sterling borrowings shall at no time exceed $1,000,000 (notionally converted at the then existing Spot Rate of Exchange). Requests by the Borrower for Advances in Sterling shall be made to the Bank's London Branch at 3 Bishop's Gate, Xxxxxx, England EC2N3AB (telephone: 44-171-621-1477; telecopy: 44-171-929-4644). Subject xx Section 2.7 hereof, all amounts advanced under the Revolving Credit Facility and all of the other Obligations of the Borrower hereunder shall be paid in US Dollars. Borrower's request that an advance under the Revolving Credit Facility be made in Sterling shall be honored by the Bank so long as there does not exist at the time of such Borrower's request any national or international financial, political or economic conditions or currency exchange rates or exchange controls, which in the sole and exclusive opinion of the Bank, make it impractical or impossible for the Bank to make such Loan in Sterling; in such event the Bank shall give the Borrower notice as promptly as possible to the effect that as a result of such event the Loan will not be made in Sterling, but, at the option of the Borrower, such Loan will be made available in US Dollars. Any conversion of Sterling into US Dollars that is required for purposes of calculating (i) the amounts outstanding under the Revolving Credit Facility in US Dollars or (ii) for any other reason, shall be performed by the Bank by its application of the Spot Rate of Exchange on the date of such calculation; provided, however, that on the last Business Day of each month, the Bank shall calculate the amounts outstanding under the Revolving Credit Facility by notionally converting Sterling borrowings by using a Spot Rate of Exchange equal to the then existing Spot Rate of Exchange multiplied by 1.10. To the extent that such calculation causes the Borrower not to be in compliance with Section 2.1(a) or (f) hereof, the Borrower shall immediately pay to the Bank the amount of such excess.
