Common use of Eligible Currency Clause in Contracts

Eligible Currency. Any Available Collections on deposit in the Principal Collection Account denominated in an Eligible Currency may be converted by the Collateral Manager into another Eligible Currency on any Business Day (other than a Payment Date) using the Applicable Exchange Rate so long as (i) no Borrowing Base Deficiency exists either prior to or after giving effect to such conversion, and (ii) the converted amounts are used solely for purposes of acquiring a Collateral Asset denominated in such other Eligible Currency pursuant to Section 2.07Section 2.07. The Collateral Manager shall provide no less than one (1) Business Day’s prior written notice to the Administrative Agent and the Collateral Agent of any such conversion.

Eligible Currency. Any Available Collections on deposit in the Principal Collection Account denominated in an Eligible Currency may be converted by the Collateral Manager into another Eligible Currency on any Business Day (other than a Payment Date) using the Applicable Exchange Rate so long as (i) no Borrowing Base Deficiency exists either prior to or after giving effect to such conversion, and (ii) the converted amounts are used solely for purposes of acquiring a Collateral Asset denominated in such other Eligible Currency pursuant to Section 2.07Section 2.07. The Collateral Manager shall provide no less than one (1) Business Day’s prior written notice to the Administrative Agent and the Collateral Agent of any such conversion.