INTRODUCTION OF THE EURO Sample Clauses

INTRODUCTION OF THE EURO. (a) If, as a result of the implementation of the European economic and monetary union ("EMU") either Sterling ceases to be lawful currency of the United Kingdom and is replaced by a European single or common currency (the "Euro") or Sterling and the Euro are at the same time both recognized by the central bank of the United Kingdom as lawful currency of the United Kingdom, then (i) if Sterling is still a recognized lawful currency in the United Kingdom, then any amount payable under any Loan Paper in Sterling (including any Borrowing) shall continue to be payable in Sterling, (ii) if Sterling is no longer recognized as a lawful currency in the United Kingdom, then any amount payable under any Loan Paper in Sterling (including any Borrowing) shall instead be payable in the Euro, and the amount so payable shall be determined by redenominating or converting such amount into the Euro at the exchange rate officially fixed by the European Central Bank for the purpose of implementing the EMU, (iii) if any EMU legislation provides that an amount denominated either in the Euro or in Sterling can be paid either in the Euro or in Sterling, each party to the Loan Papers shall pay or repay such amount in Sterling, and (iv) if any EMU legislation provides that an amount denominated in Sterling must be paid in the Euro, then each party to the Loan Papers shall be entitled to pay or repay such amount in the Euro. Before the occurrence of the event or events described above, each amount payable under any Loan Paper in Sterling shall, except as otherwise specifically provided in the Loan Papers, continue to be payable only in Sterling.
Sample 1
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INTRODUCTION OF THE EURO. (a) If, as a result of the implementation of the European economic and monetary union ("EMU"), (i) any currency available for borrowing under this Amended 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 payable hereunder by any party hereto in such national currency (including, without limitation, any Loans to be made under this Amended Agreement) shall instead be payable in Euro and the amount so payable shall be determined by redenominating or converting such amount into Euro at the exchange rate officially fixed by the European Central Bank for the purpose of implementing the EMU; PROVIDED, that to the extent any EMU legislation provides that an amount denominated either in Euro or in the applicable national currency can be paid either in Euro or in the applicable national currency, each party to this Amended Agreement shall be entitled to pay or repay such amount in Euro or in the applicable national currency. Prior to the occurrence of the event or events described in clause (i) or (ii) of the preceding sentence, each amount payable hereunder in any such national currency will, except as otherwise provided herein, continue to be payable only in that national currency.
Sample 1
INTRODUCTION OF THE EURO. The introduction of the Euro as the legal currency or legal tender in Germany (see Articles 8.5 and 8.6 above) shall in no way affect the validity of this Agreement and shall not entitle any party hereto to terminate, or to require any amendment to, this Agreement.
Sample 1
INTRODUCTION OF THE EURO. Market practice relating to the method of rate fixing and the calculation of interest on deposits in the inter-bank deposit market in London may change following the start of the Third Stage and, as a result, may differ from the method of rate fixing and the calculation of interest prescribed under the terms of this Agreement. In this event, the Agent will consult the Parent and specify the amendments to this Agreement which are required to reflect and conform to these changes. These amendments may be agreed before or after the start of the Third Stage but must be in accordance with Clause 30.2. The amendments may provide for the use of London inter-bank market offered rates or inter-bank market offered rates from a wider European market (or, in either case, screen rates reflecting these offered rates). They may also change, amongst other things, the period of notice required for an Advance, the rate fixing date, the definition of "Business Day" and any elements of the formula (other than, for the avoidance of doubt and without limitation, the Applicable Margin) set out in Clause 1.4. The amendments will take effect on the later of the date specified in the amending agreement and the date on which the Third Stage 22
Sample 1
INTRODUCTION OF THE EURO. As from the date that the Dutch Guilder ceases to be legal tender within the Netherlands, at the latest envisaged to be July 1, 2002, in accordance with article 109 L (4) of the Treaty establishing the Europe Economic Community, as amended by the Treaty on the European Union (The Maastricht Treaty), this Contract will be performed in Euro and all orders and invoices will be sent in Euro and all payment obligations under this Contract shall be satisfied in Euro and all denominations in Dutch Guilder shall be substituted by the denominations in Euro, according to the conversion rate of the Dutch Guilder against the Euro fixed in accordance with aforesaid article 109 L (4). Parties hereto affirm and agree that the conversion of the obligations under this Contract from Dutch Guilder into Euro shall in no way be a reason for early termination or revision or amendment of this Contract. This clause prevails over any Force Majeure.
Sample 1

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