Economic and Monetary Union in the European Community. (a) Without prejudice and in addition to any method of conversion or rounding prescribed by the EMU Legislation and without prejudice to the liabilities for indebtedness of the Borrowers to the Lenders under or pursuant to this Agreement, each reference in this Agreement to a fixed amount or fixed amounts (or an integral multiple thereof) in a national currency of a Subsequent Participant to be paid to or by the Administrative Agent shall be replaced by a reference to such reasonably comparable and convenient fixed amount or fixed amounts (or an integral multiple thereof) in Euro as the Administrative Agent may from time to time specify.
Economic and Monetary Union in the European Community. (a) The parties confirm that, except as provided in subsection (b) below of this SECTION 12.20, the occurrence or non-occurrence of an event associated with economic and monetary 111 union in the European Community will not have the effect of altering any term of, or discharging or excusing performance under, this Agreement, any other Loan Document, any Loan or any transaction contemplated by any of the foregoing, nor give a party the right unilaterally to alter or terminate this Agreement, any other Loan Document, any Loan or any transaction contemplated by any of the foregoing or give rise to an Event of Default or otherwise be the basis for the effective designation of a Termination Date. "An event associated with economic and monetary union in the European Community" includes, without limitation, each (and any combination) of the following:
Economic and Monetary Union in the European Community. (a) The parties confirm that, except as provided in subsection (b) below of this Section 12.16, the occurrence or non-occurence of an event associated with economic and monetary union in the European Community will not have the effect of altering any term of, or discharging or excusing performance under, this Agreement, any other Loan Document, any Loan or any transaction contemplated by any of the foregoing, nor give a party the right unilaterally to alter or terminate this Agreement, any other Loan Document, any Loan or any transaction contemplated by any of the foregoing or give rise to an Event of Default or otherwise be the basis for the effective designation of the Revolving Credit Termination Date. "An event associated with economic and monetary union in the European Community" includes, without limitation, each (and any combination) of the following:
Economic and Monetary Union in the European Community. (a) The provisions of this Section 2.26 relate to Multicurrency Facility Loans which would otherwise be denominated in a National Currency Unit of a Participating Member State and shall be effective from and after the commencement of the third stage of EMU. If and to the extent that any such provisions relate to any country (or the currency of such country) that is not a Participating Member State on the commencement of the third stage of EMU, such provision shall become effective as to such country (and the currency of such country) if and when such country becomes a Participating Member State.
Economic and Monetary Union in the European Community. The Agent may from time to time further modify the terms of, and practices contemplated by, this Agreement with respect to the euro to the extent the Agent determines, in its reasonable discretion, that such modifications are necessary or convenient to reflect new laws, regulations, customs or practices developed in connection with the euro. The Agent may effect such modifications, and this Agreement shall be deemed so amended, without the consent of the Borrower or Lenders to the extent such modifications are not materially disadvantageous to the Borrower and the Lenders, upon notice thereto.
Economic and Monetary Union in the European Community. (a) If, as a result of the implementation of the European economic and monetary union ("EMU"), any currency available for borrowing under this Agreement (a "national currency") and the Euro are at the same time both recognized by the central bank or comparable Governmental Authority of the state issuing such currency as lawful currency of such state, then any amount borrowed hereunder by the Company in such national currency shall be payable in such national currency and any amount borrowed hereunder in the Euro shall be payable in the Euro. After the European Central Lender and/or the comparable Governmental Authority ceases to recognize any national currency, then the amount so payable shall be determined by redenominating or converting such national currency into the Euro at the exchange rate officially fixed by the European Central Lender for the purpose of implementing the EMU. Prior to the occurrence of the event or events described above, each amount payable hereunder in any such national currency will, except as otherwise provided herein, continue to be payable only in that national currency.
Economic and Monetary Union in the European Community. (a) As a result of the implementation of the European economic and monetary union ("EMU"), the French Franc and the euro are at the Closing Date, and anticipated until December 31, 2001 to be, both recognized by the central bank or comparable governmental authority of France and, subject to SECTION 6.09(e) below, any amount borrowed hereunder by any party hereto in the French Franc shall be payable in French Francs and any amount borrowed hereunder in the euro shall be payable in the euro. After the European Central Bank and/or the comparable government authority ceases to recognize the French Franc, then the amount so payable shall be determined by redenominating or converting such French Francs into the euro at the exchange rate officially fixed by the European Central Bank for the purpose of implementing the EMU.
Economic and Monetary Union in the European Community. (a) If, as a result of the implementation of the European economic and monetary union ("EMU"), (i) any currency available for borrowing under this Agreement (a "national currency") ceases to be lawful currency of the state issuing the same and is replaced by a European single or common currency (the "Euro") or (ii) any national currency and the Euro are at the same time both recognized by the central bank or comparable Governmental Authority of the state issuing such currency as lawful currency of such state, then any amount borrowed hereunder by any Borrower in such national currency shall be payable in such national currency and any amount borrowed hereunder in the Euro shall be payable in the Euro. After the European Central Bank and/or the comparable Government Authority ceases to recognize any national currency, then the amount so payable shall be determined by redenominating or converting such national currency into the Euro at the exchange rate officially fixed by the European Central Bank for the purpose of implementing the EMU. Prior to the occurrence of the event or events described in clause (i) or (ii) above, each amount payable hereunder in any such national currency will, except as otherwise provided herein, continue to be payable only in that national currency.
Economic and Monetary Union in the European Community. (a) If, as a result of the implementation of the European economic and monetary union ("EMU"), (i) any currency available for borrowing under this Agreement (a "national currency") ceases to be lawful currency of the state issuing the same and is replaced by a European single or common currency (the "Euro") or (ii) any national currency and the Euro are at the same time both recognized by the central bank or comparable governmental authority of the state issuing such currency as lawful currency of such state, then any amount borrowed hereunder by any party hereto in such national currency shall be payable in such national currency and any amount borrowed
Economic and Monetary Union in the European Community. (a) As a result of the implementation of the European economic and monetary union ("EMU"), the French Franc and the euro are at the Closing Date, and anticipated until December 31, 2001 to be, both recognized by the central bank or comparable governmental authority of France and, subject to Section 6.09(e) below, any amount borrowed hereunder by any party hereto in the French Franc shall be payable in French Francs and any amount borrowed hereunder in the euro shall be payable in the euro. After the European Central Bank and/or the comparable government authority ceases to recognize the French Franc, then the amount so
