Common use of European Monetary Union Clause in Contracts

European Monetary Union. If, as a result of the implementation of European monetary union, (a) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agree, at the request of the Required Lenders, at the time of or at any time following the implementation of European monetary union, to enter into an agreement amending this Agreement in such manner as the Required Lenders shall reasonably request in order to avoid any unfair burden or disadvantage resulting from the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and that reasonable provisions shall be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence.

European Monetary Union. If, as a result of the implementation of European monetary union, (a) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agree, at the request of the Required Lenders, at the time of or at any time following the implementation of European monetary union, to enter into an agreement amending this Agreement in such manner as the Required Lenders shall reasonably request in order to avoid any unfair burden or disadvantage resulting from the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and that reasonable provisions shall may be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars any Alternative Currency or a European common currency after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence.

European Monetary Union. If, as a result of the implementation of European monetary union, (a) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agreeEach Borrower agrees, at the request of the Required Lenders, at the time of or at any time following the implementation of European monetary union, to enter into an agreement amending this Agreement in such manner as the Required Lenders shall reasonably request in order to avoid any unfair burden or disadvantage resulting from the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and 100 that reasonable provisions shall may be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars any Alternative Currency or a European common currency after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence.

European Monetary Union. (a) If, as a result of the implementation of European monetary union, (ai) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency, or (ii) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation and the Administrative Agent or the Required Banks shall so request in a notice delivered to the Borrower, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (ai) or (bii) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agreeBorrower agrees, at the request of the Required LendersBanks, at the time of or at any time following the implementation of European monetary union, to enter into an agreement amending this Agreement in such manner as the Required Lenders Banks shall reasonably request in order to avoid any unfair burden or disadvantage resulting from reflect the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and that reasonable provisions shall be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence." SECTION 2.

European Monetary Union. If, in the reasonable judgment of the Agent, as a result of the implementation of the European monetary unionMonetary Union, (aA) any currency European Currency ceases to be lawful currency of the nation issuing the same and is replaced by a the Euro, or (B) any European common currency, then any amount payable hereunder Currency and the Euro are at the same time recognized by any party hereto governmental authority of the nation issuing such European Currency as lawful currency of such nation, such European Currency shall cease to be a Foreign Currency hereunder and the Agent shall give prompt notice to the Company and each Lender that, on the date any Foreign Currency Advance denominated in such currency European Currency would become due under the terms of this Agreement the Company shall instead be payable repay such Foreign Currency Advance by paying to each Lender an amount in the European common currency and Euro equal to the amount so payable determined in good faith by such Lender (which determination shall be conclusive absent manifest error) necessary to compensate such Lender for the principal of and accrued interest on such Foreign Currency Advance being repaid in the Euro (rather than in the denominated Foreign Currency) as determined by translating converting the amount payable in such currency European Currency to such European common currency the Euro at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in clause (a)), at the election of the obligorMonetary Union. Prior to the occurrence of the event or events described in clause paragraphs (aA) or and (bB) of the preceding sentencefirst sentence of this section, each amount payable hereunder under this Agreement in any currency will European Currency shall, except as otherwise provided herein, continue to be payable only in that currencysuch European Currency. The Borrowers agree, at Company affirms and agrees that neither the request fixation of the Required Lendersexchange rate of any European Currency against the Euro as recognized by the European Central Bank for the purpose of implementing European Monetary Union, at nor the time conversion of any Foreign Currency Advance denominated in any European Currency to a Foreign Currency Advance denominated in the Euro will be (A) a reason for the early termination or at any time following the implementation revision or reformation, in whole or in part, of European monetary union, to enter into an agreement amending this Agreement in such manner as or any other Loan Document, or (B) create any liability of any Lender toward the Required Lenders shall reasonably request in order to avoid Company or any unfair burden other Lender for any direct, consequential, or disadvantage resulting other loss arising from the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and that reasonable provisions shall be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars after the occurrence of the event or events described in clause paragraphs (aA) or and (bB) of the preceding sentencefirst sentence of this section.

European Monetary Union. If, as a result of the implementation of European monetary unionMonetary Union ("EMU"), (a) any currency that is a Qualified Foreign Currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currencycurrency (the "Euro"), then any amount payable hereunder by any party hereto in such currency replaced Qualified Foreign Currency by either Fronting Bank in respect of a Disbursement shall instead be payable in the European common currency Euros and the amount so payable shall be determined by translating the amount payable in such currency Qualified Foreign Currency to such European common currency Euros at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or EMU; and (b) any nation issuing a currency and that is a European common currency are at Qualified Foreign Currency also issues or recognizes the same time recognized by Euro through the central bank or other comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) so long as such nation issues or recognizes both the Qualified Foreign Currency and the Euro as the national currency, any Loan made at such time shall be made amounts payable hereunder by either Fronting Bank in respect of a Disbursement in such European common currency and (ii) any other amount payable by any party hereto in such currency Qualified Foreign Currency shall be payable either in such currency Qualified Foreign Currency or the Euro (determined in such European common currency (accordance with the method described in an amount determined as set forth in the foregoing clause (a)), at as may be requested by the election applicable Letter of Credit Beneficiary upon notice delivered to the obligorapplicable Fronting Bank. Prior to the occurrence applicability of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency Qualified Foreign Currency will continue to be payable only in that currencysuch Qualified Foreign Currency. The Each of the Borrowers agreeand each Fronting Bank agrees, at the request of the Required Lenders, any such party at the time of of, or at any time following following, the implementation of European monetary unionMonetary Union, to enter into good faith negotiations concerning an agreement amending to amend this Agreement in such manner as the Required Lenders any such party shall reasonably request in order to avoid any unfair burden or disadvantage resulting from reflect the implementation of such monetary union European Monetary Union and to place the parties hereto in the position they would have been in had such monetary union European Monetary Union not been implemented. Notwithstanding anything to the contrary in Section 11.1, in the intent being event that neither party will be adversely affected economically the Borrowers and either Fronting Bank are able to agree to an amendment of this Agreement, which amendment solely addresses issues raised by European Monetary Union, this Agreement, as a result of such implementation and that reasonable provisions amendment's effective date, shall be adopted deemed to govern be amended by such amendment without the borrowingrequirement of any further action hereunder by the Lenders or the Majority Lenders, maintenance and repayment of Loans denominated in currencies other than Dollars after as the occurrence of the event or events described in clause (a) or (b) of the preceding sentencecase may be.

European Monetary Union. If, as a result of the implementation of European monetary unionMonetary Union ("EMU"), (a) any currency that is a Qualified Foreign Currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currencycurrency (the "Euro"), then any amount payable hereunder by any party hereto in such currency replaced Qualified Foreign Currency by the Fronting Bank in respect of a Disbursement shall instead be payable in the European common currency Euros and the amount so payable shall be determined by translating the amount payable in such currency Qualified Foreign Currency to such European common currency Euros at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or EMU; and (b) any nation issuing a currency and that is a European common currency are at Qualified Foreign Currency also issues or recognizes the same time recognized by Euro through the central bank or other comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) so long as such nation issues or recognizes both the Qualified Foreign Currency and the Euro as the national currency, any Loan made at such time shall be made amounts payable hereunder by the Fronting Bank in respect of a Disbursement in such European common currency and (ii) any other amount payable by any party hereto in such currency Qualified Foreign Currency shall be payable either in such currency Qualified Foreign Currency or the Euro (determined in such European common currency (accordance with the method described in an amount determined as set forth in the foregoing clause (a)), at as may be requested by the election applicable Letter of Credit Beneficiary upon notice delivered to the obligorFronting Bank. Prior to the occurrence applicability of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency Qualified Foreign Currency will continue to be payable only in that currencysuch Qualified Foreign Currency. The Each of the Borrowers agreeand the Fronting Bank agrees, at the request of the Required Lenders, any such party at the time of of, or at any time following following, the implementation of European monetary unionMonetary Union, to enter into good faith negotiations concerning an agreement amending to amend this Agreement in such manner as the Required Lenders any such party shall reasonably request in order to avoid any unfair burden or disadvantage resulting from reflect the implementation of such monetary union European Monetary Union and to place the parties hereto in the position they would have been in had such monetary union European Monetary Union not been implemented. Notwithstanding anything to the contrary in Section 11.1, in the intent being event that neither party will be adversely affected economically the Borrowers and the Fronting Bank are able to agree to an amendment of this Agreement, which amendment solely addresses issues raised by European Monetary Union, this Agreement, as a result of such implementation and that reasonable provisions amendment's effective date, shall be adopted deemed to govern be amended by such amendment without the borrowingrequirement of any further action hereunder by the Lenders or the Required Lenders, maintenance and repayment of Loans denominated in currencies other than Dollars after as the occurrence of the event or events described in clause (a) or (b) of the preceding sentencecase may be.

European Monetary Union. (a) If, as a result of the implementation of European monetary union, (ai) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency, or (ii) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation and the Administrative Agent or the Required Banks shall so request in a notice delivered to the Borrower, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (ai) or (bii) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agreeBorrower agrees, at the request of the Required LendersBanks, at the time of or at any time following the implementation of European monetary union, to enter into an agreement amending this Agreement in such manner as the Required Lenders Banks shall reasonably request in order to avoid any unfair burden or disadvantage resulting from reflect the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and that reasonable provisions shall be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence.

European Monetary Union. If, as a result of the implementation of European monetary union, (a) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agreeEach Borrower agrees, at the request of the Required Lenders, at the time of or at any time following the implementation of European monetary union, to enter into an agreement amending this Agreement in such manner as the Required Lenders shall reasonably request in order to avoid any unfair burden or disadvantage resulting from the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and that reasonable provisions shall may be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars any Alternative Currency or a European common currency after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence.

European Monetary Union. If, as a result of the implementation of European monetary union, (a) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agreeBorrower agrees, at the request of the Required Lenders, at the time of or at any time following the implementation of European monetary union, to enter into an agreement amending this Agreement in such manner as the Required Lenders shall reasonably request in order to avoid any unfair burden or disadvantage resulting from the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and that reasonable provisions shall may be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars Sterling or a European common currency after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence.

European Monetary Union. If, as a result of the implementation of European monetary union, (a) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in E-1-57 clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agree, at the request of the Required Lenders, at the time of or at any time following the implementation of European monetary union, to enter into an agreement amending this Agreement in such manner as the Required Lenders shall reasonably request in order to avoid any unfair burden or disadvantage resulting from the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and that reasonable provisions shall be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence.

European Monetary Union. If, as a result of the implementation of European monetary union, (a) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency at the 100 exchange rate recognized by the European Central Bank for the purpose of implementing European monetary union, or (b) any currency and a European common currency are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan made at such time shall be made in such European common currency and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency (in an amount determined as set forth in clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agreeParent and each Borrower agrees, at the request of the Required Lenders, and the Lenders, the Issuing Bank and the Administrative Agent agree, at the request of the Borrowers, at the time of or at any time following the implementation of European monetary union, to enter into an agreement amending this Agreement in such manner as the Required Lenders or the Borrowers, as the case may be, shall reasonably request in order to avoid any unfair burden or disadvantage resulting from the implementation of such monetary union and to place the parties hereto in the position they would have been in had such monetary union not been implemented, the intent being that neither party will be adversely affected economically as a result of such implementation and that reasonable provisions shall may be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars any Alternative Currency or a European common currency after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence.

European Monetary Union. If, as a result of the implementation of European monetary union, (a) any currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currencythe Euro, then any amount payable hereunder by any party hereto in such currency shall instead be payable in the European common currency Euro and the amount so payable shall be determined by translating the amount payable in such currency to such European common currency Euro at the exchange rate recognized by the European Central Bank for the purpose of implementing European monetary unionintegrating such currency into the Euro, or (b) any currency and a European common currency the Euro are at the same time recognized by the central bank or comparable authority of the nation issuing such currency as lawful currency of such nation, then (i) any Loan 270134563 275248976 made at such time shall be made in such European common currency Euro and (ii) any other amount payable by any party hereto in such currency shall be payable in such currency or in such European common currency Euro (in an amount determined as set forth in clause (a)), at the election of the obligor. Prior to the occurrence of the event or events described in clause (a) or (b) of the preceding sentence, each amount payable hereunder in any currency will continue to be payable only in that currency. The Borrowers agreeBorrower agrees, at the request of the Required LendersMajority Banks, at the time of or at any time following the implementation integration of European monetary unionany additional currency into the Euro, to enter into an agreement amending this Agreement in such manner as the Required Lenders Majority Banks shall reasonably request in order to avoid any unfair burden or disadvantage resulting from the implementation of such monetary union therefrom and to place the parties hereto in the position they would have been in had such monetary union integration not been implementedoccurred, the intent being that neither party will be adversely affected economically as a result of such implementation integration and that reasonable provisions shall may be adopted to govern the borrowing, maintenance and repayment of Loans denominated in currencies other than Dollars any Optional Currency after the occurrence of the event or events described in clause (a) or (b) of the preceding sentence.