Common use of European Monetary Union Clause in Contracts

European Monetary Union. If any Agreed Currency ceases to be lawful currency of the nation issuing the same and is replaced by the euro and the Administrative Agent or the Required Lenders shall so request in a notice delivered to the Borrowers, then any amount payable hereunder by any party hereto in such Agreed Currency shall instead be payable in the euro and the amount so payable shall be determined by translating the amount payable in such Agreed Currency to the euro at the exchange rate established by that nation for the purpose of implementing the replacement of the relevant Agreed Currency by the euro (and the provisions governing payments in Agreed Currencies in this Agreement shall apply to such payment in the euro as if such payment in the euro were a payment in an Agreed Currency). Prior to the occurrence of the event or events described in the preceding sentence, each amount payable hereunder in any Agreed Currency will, except as otherwise provided herein, continue to be payable only in that currency. The Company agrees, at the request of any Lender, to compensate such Lender for any loss, cost, expense or reduction in return that such Lender shall reasonably determine shall be incurred or sustained by such Lender as a result of the replacement of any Agreed Currency by the euro and that would not have been incurred or sustained but for the transactions provided for herein. A certificate of any Lender setting forth such Lender's determination of the amount or amounts necessary to compensate such Lender shall be delivered to the Company and shall be conclusive absent manifest error so long as such determination is made on a reasonable basis. The Company shall pay such Lender the amount shown as due on any such certificate within ten (10) days after receipt thereof.

European Monetary Union. If If, as a result of the implementation of the European Monetary Union (the "EMU"), (a) any Agreed Foreign Currency ceases to be lawful currency of the nation issuing the same and is replaced by a European common currency (the euro and the Administrative Agent or the Required Lenders shall so request in a notice delivered to the Borrowers"Euro"), then any amount payable hereunder in such replaced Foreign Currency by any party hereto Lender or any Borrower in such Agreed Currency respect of a Credit Extension shall instead be payable in the euro Euros and the amount so payable shall be determined by translating the amount payable in such Agreed Foreign Currency to the euro Euros at the exchange rate established recognized by that nation the European Central Bank for the purpose of implementing the replacement of EMU; and (b) any nation issuing a Foreign Currency also issues or recognizes both the relevant Agreed Foreign Currency by the euro (and the provisions governing payments Euro as the national currency, any amounts payable hereunder by any Lender or any Borrower in Agreed Currencies respect of a Credit Extension in this Agreement such Foreign Currency shall apply to be payable either in such payment Foreign Currency or the Euro (determined in accordance with the method described in the euro as if such payment in foregoing clause (a)), upon notice delivered to the euro were a payment in an Agreed Currency)applicable Lender. Prior to the occurrence applicability of the event clause (a) or events described in (b) of the preceding sentence, each amount payable hereunder in any Agreed Foreign Currency will, except as otherwise provided herein, will continue to be payable only in that currencysuch Foreign Currency. The Company agreesEach of the Borrowers and the Lenders agree, at the request of any Lendersuch party at the time of, or at any time following, the implementation of the EMU, to compensate enter into good faith negotiations concerning an agreement to amend this Agreement in such Lender for manner as any loss, cost, expense or reduction in return that such Lender party shall reasonably determine request in order to reflect the implementation of the EMU and to place the parties hereto in the position they would have been in had the EMU not been implemented. Notwithstanding anything to the contrary in Section 11.1, in the event that the Borrowers and the Lenders are able to agree to an amendment of this Agreement, which amendment solely addresses issues raised by the EMU, this Agreement, as of such amendment's effective date, shall be incurred or sustained deemed to be amended by such Lender as a result of amendment without the replacement requirement of any Agreed Currency further action hereunder by the euro and that would not have been incurred Lenders or sustained but for the transactions provided for herein. A certificate of any Lender setting forth such Lender's determination of Required Lenders, as the amount or amounts necessary to compensate such Lender shall be delivered to the Company and shall be conclusive absent manifest error so long as such determination is made on a reasonable basis. The Company shall pay such Lender the amount shown as due on any such certificate within ten (10) days after receipt thereofcase may be.