Common use of Equivalent Amount Clause in Contracts

Equivalent Amount. At any time, as determined by the Lender (which determination shall be conclusive absent manifest error), with respect to an amount of any currency (the "REFERENCE CURRENCY") which is to be computed as an equivalent amount of another currency (the "EQUIVALENT CURRENCY"): (i) if the Reference Currency and the Equivalent Currency are the same, the amount is such Reference Currency; or (ii) if the Reference Currency and the Equivalent Currency are not the same, the amount is such Equivalent Currency converted from such Reference Currency at the Lender's spot selling rate (based on the market rates then prevailing and available to the Lender) for the sale of such Equivalent Currency for such Reference Currency at a time determined by the Lender on the second Business Day immediately preceding the event for which such calculation is made.