Common use of PAYMENT TO BE IN PROPER CURRENCY Clause in Contracts

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, or in the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. In the case of any Security denominated in any currency (the "Re- quired Currency") other than United States dollars, except as otherwise pro- vided therein or in the related Authorizing Resolution and/or supplemental in- denture, if any, the obligation of the Company to make any payment of princi- pal of or interest thereon shall not be discharged or satisfied by any tender by the Company, or recovery by the Trustee, in any currency other than the Re- quired Currency, except to the extent that such tender or recovery shall re- xxxx in the Trustee timely holding the full amount of the Required Currency. The costs and risks of any such exchange, including without limitations, the risks of delay and exchange rate fluctuation, shall be borne by the Company; the Company shall remain fully liable for any shortfall or delinquency in the full amount of Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefor. The Company hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11

PAYMENT TO BE IN PROPER CURRENCY. (a) Each reference in any Security, or in the Authorizing Board Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. In the case of any Security denominated in any currency (the "Re- quired “Required Currency"”) other than United States dollars, except as otherwise pro- vided provided therein or in the related Authorizing Resolution and/or supplemental in- denture, if anyBoard Resolution, the obligation of the Company or the Guarantor, as the case may be, to make any payment of princi- pal of principal, premium or interest thereon or Additional Amounts with respect thereto shall not be discharged or satisfied by any tender by the CompanyCompany or the Guarantor, or recovery by the Trustee, in any currency other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is in a currency other than the Required Currency, the Trustee may take such actions as it considers appropriate to exchange such currency for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; Company or the Guarantor, as the case may be, the Company or the Guarantor shall remain fully liable for any shortfall or delinquency in the full amount of Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefor. The Each of the Company and the Guarantor hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the TrusteeTrustee at the written direction of the Company or the Guarantor, is less than the full amount of Required Currency then due and payable. ARTICLE 11.

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, or in the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. In the case of any Security denominated in any currency (the "Re- quired Required Currency") other than United States dollars, except as otherwise pro- vided provided therein or in the related Authorizing Resolution and/or supplemental in- denture, if anyResolution, the obligation of the Company to make any payment of princi- pal of principal, premium or interest thereon shall not be discharged or satisfied by any tender by the Company, or recovery by the Trustee, in any currency other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is in a currency other than the Required Currency, the Trustee may take such actions as it considers appropriate to exchange such currency for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; , the Company shall remain fully liable for any shortfall or delinquency in the full amount of Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefor. The Company hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11TWO--SECURITY FORMS

PAYMENT TO BE IN PROPER CURRENCY. Each reference in --------------------------------- any Security, or in the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, Securities to any currency shall be of the essence. In the case of any Security Securities denominated in any currency (the "Re- quired Required Currency") other than United States dollarsDollars, except as otherwise pro- vided therein or in the related Authorizing Resolution and/or supplemental in- denture, if anyprovided therein, the obligation of the Company applicable Issuer and the Guarantor to make any payment of princi- pal of the principal, premium or interest or any Additional Amounts thereon shall not be discharged or satisfied by any tender by such Issuer or the CompanyGuarantor, or recovery by the Trustee, in any currency other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is in a currency other than the Required Currency, the Trustee may take such actions as it considers appropriate to exchange such currency for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; applicable Issuer and the Company Guarantor, and such Issuer and the Guarantor shall remain fully liable for any shortfall or delinquency in the full amount of the Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefor. The Company In the event of such a shortfall, the Trustee shall make payments on a pro rata basis unless otherwise notified by the Issuer in writing. Each Issuer and the Guarantor hereby waives waive any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11.

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, or in the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. In the case of the Notes of any Security series, or any Tranche thereof, denominated in any currency other than Dollars or in a composite currency (the "Re- quired Required Currency") other than United States dollars), except as otherwise pro- vided therein or in the related Authorizing Resolution and/or supplemental in- denture, if anyspecified with respect to such Notes as contemplated by SECTION 3.01, the obligation of the Company to make any payment of princi- pal of the principal thereof, or the premium or interest thereon thereon, shall not be discharged or satisfied by any tender by the Company, or recovery by the Trustee, in any currency other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is in a currency other than the Required Currency, the Trustee may take such actions as it considers appropriate to exchange such currency for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; , the Company shall remain fully liable for any shortfall or delinquency in the full amount of Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefortherefor except in the case of its negligence or willful misconduct. The Company hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11.

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, or in The following provisions of this Section 1.14 shall apply to the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. extent permitted by applicable law: In the case of any Security denominated payable in any particular currency or currency unit (the "Re- quired Required Currency") other than United States dollars), except as otherwise pro- vided provided herein, therein or in or pursuant to the related Authorizing Board Resolution and/or or supplemental in- denture, if anyindenture or as contemplated by Section 3.01, the obligation of the Company to make any payment of princi- pal of principal, premium or interest thereon shall not be discharged or satisfied by any tender by the Company, or recovery by the Trustee, in any currency or currency unit other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is made in other than the Required Currency, the Trustee may, but shall not be obligated to, take such actions as it considers appropriate to exchange such other currency or currency unit for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; , the Company shall remain fully liable for any shortfall or delinquency in the full amount of the Required Currency then due and payable, payable and in no circumstances shall the Trustee be liable therefor. The Company hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11SECTION 1.15

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, or in the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. In the case of any Security denominated in any currency (the "Re- quired “Required Currency"”) other than United States dollars, except as otherwise pro- vided provided therein or in the related Authorizing Resolution and/or supplemental in- denture, if anyResolution, the obligation of the Company or the Guarantor, as the case may be, to make any payment of princi- pal of principal, premium or interest thereon shall not be discharged or satisfied by any tender by the CompanyCompany or the Guarantor, or recovery by the Trustee, in any currency other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is in a currency other than the Required Currency, the Trustee may take such actions as it considers appropriate to exchange such currency for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; Company or the Guarantor, as the case may be, the Company or the Guarantor shall remain fully liable for any shortfall or delinquency in the full amount of Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefor. The Each of the Company and the Guarantor hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11.

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, or in the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. In the case of the Notes of any Security series, or any Tranche thereof, denominated in any currency other than Dollars or in a composite currency (the "Re- quired “Required Currency") other than United States dollars”), except as otherwise pro- vided therein or in the related Authorizing Resolution and/or supplemental in- denture, if anyspecified with respect to such Notes as contemplated by Section 3.01, the obligation of the Company to make any payment of princi- pal of the principal thereof, or the premium or interest thereon thereon, shall not be discharged or satisfied by any tender by the Company, or recovery by the Trustee, in any currency other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is in a currency other than the Required Currency, the Trustee may take such actions as it considers appropriate to exchange such currency for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; , the Company shall remain fully liable for any shortfall or delinquency in the full amount of Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefortherefor except in the case of its negligence or willful misconduct. The Company hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11.

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, Other than as provided herein or in the Authorizing Resolution and/or sup- plemental Security, an Officers' Certificate or a supplemental indenture, if any, relating thereto, to any currency shall be of the essence. In the case of any Security denominated in any currency (the "Re- quired Currency") other than United States dollars, except as otherwise pro- vided therein or in the related Authorizing Resolution and/or supplemental in- denture, if any, the obligation of the Company to make any payment of princi- pal principal of or interest thereon (and premium, if any) and interest, if any, on such Security shall not be discharged or satisfied by any tender by the Company, or recovery collection by the Trustee, in any currency or currency unit other than that in which such Security is denominated (the Re- quired "Specified Currency"), except to the extent that such tender or recovery shall re- xxxx in the Trustee timely holding holds for such payment the full amount of the Required Specified Currency when due and payable. If any such tender or collection is made in other than the Specified Currency, the Trustee may take such actions as it considers appropriate to exchange such other currency or currency unit for the Specified Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; , the Company shall remain fully liable for any shortfall or delinquency in the full amount of Required the Specified Currency then due and payable, payable and in no circumstances shall the Trustee be liable therefor. The Company hereby waives any defense of payment based upon any such tender or recovery collection which is not in the Required Specified Currency, or which, when exchanged for the Required Specified Currency by the Trustee, is less than the full amount of Required the Specified Currency then due and payable. ARTICLE 11Notwithstanding the foregoing, if a Specified Currency is not available to make any payment of principal of (and premium, if any) and interest, if any, on a Security denominated in other than Dollars due to the imposition of exchange controls

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, or in The following provisions of this Section 114 shall apply to the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. extent permitted by applicable law: In the case of any Security denominated payable in any particular currency or currency unit (the "Re- quired Required Currency") other than United States dollars), except as otherwise pro- vided provided herein, therein or in or pursuant to the related Authorizing Board Resolution and/or or supplemental in- denture, if anyindenture or as contemplated by Section 301, the obligation of the Company to make any payment of princi- pal of principal, premium or interest thereon shall not be discharged or satisfied by any tender by the Company, or recovery by the Trustee, in any currency or currency unit other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is made in other than the Required Currency, the Trustee may, but shall not be obligated to, take such actions as it considers appropriate to exchange such other currency or currency unit for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; , the Company shall remain fully liable for any shortfall or delinquency in the full amount of the Required Currency then due and payable, payable and in no circumstances circum stances shall the Trustee be liable therefor. The Company hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11.

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, or in The following provisions of this Section 114 shall apply to the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. extent permitted by applicable law: In the case of any Security denominated payable in any particular currency or currency unit (the "Re- quired Required Currency") other than United States dollars), except as otherwise pro- vided provided herein, therein or in or pursuant to the related Authorizing Board Resolution and/or or supplemental in- denture, if anyindenture or as contemplated by Section 301, the obligation of the Company to make any payment of princi- pal of principal, premium or interest thereon shall not be discharged or satisfied by any tender by the Company, or recovery by the Trustee, in any currency or currency unit other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. if any such tender or recovery is made in other than the Required Currency, the Trustee may, but shall not be obligated to, take such actions as it considers appropriate to exchange such other currency or currency unit for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; , the Company shall remain fully liable for any shortfall or delinquency in the full amount of the Required Currency then due and payable, payable and in no circumstances shall the Trustee be liable therefor. The Company hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11.

PAYMENT TO BE IN PROPER CURRENCY. Each reference in any Security, or in The following provisions of this Section 114 shall apply to the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, to any currency shall be of the essence. extent permitted by applicable law: In the case of any Security denominated payable in any particular currency or currency unit (the "Re- quired Required Currency") other than United States dollars), except as otherwise pro- vided provided herein, therein or in or pursuant to the related Authorizing Board Resolution and/or or supplemental in- denture, if anyindenture or as contemplated by Section 301, the obligation of the Company to make any payment of princi- pal of principal, premium or interest thereon shall not be discharged or satisfied by any tender by the Company, or recovery by the Trustee, in any currency or currency unit other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is made in other than the Required Currency, the Trustee may, but shall not be obligated to, take such actions as it considers appropriate to exchange such other currency or currency unit for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; , the Company shall remain fully liable for any shortfall or delinquency in the full amount of the Required Currency then due and payable, payable and in no circumstances shall the Trustee be liable therefor. The Company hereby waives any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Re quired Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11.

PAYMENT TO BE IN PROPER CURRENCY. Each reference --------------------------------- in any Security, or in the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, Securities to any currency shall be of the essence. In the case of any Security Securities denominated in any currency (the "Re- quired Required Currency") other than United States dollarsDollars, except as otherwise pro- vided therein or in the related Authorizing Resolution and/or supplemental in- denture, if anyprovided therein, the obligation of the Company applicable Issuer and the Guarantor to make any payment of princi- pal of the principal, premium or interest or any Additional Amounts thereon shall not be discharged or satisfied by any tender by such Issuer or the CompanyGuarantor, or recovery by the Trustee, in any currency other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is in a currency other than the Required Currency, the Trustee may take such actions as it considers appropriate to exchange such currency for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; applicable Issuer and the Company Guarantor, and such Issuer and the Guarantor shall remain fully liable for any shortfall or delinquency in the full amount of the Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefor. The Company In the event of such a shortfall, the Trustee shall make payments on a pro rata basis unless otherwise notified by the Issuer in writing. Each Issuer and the Guarantor hereby waives waive any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11.

PAYMENT TO BE IN PROPER CURRENCY. Each reference in --------------------------------- any Security, or in the Authorizing Resolution and/or sup- plemental indenture, if any, relating thereto, Securities to any currency shall be of the essence. In the case of any Security Securities denominated in any currency (the "Re- quired Required Currency") other than United States dollarsDollars, except as otherwise pro- vided therein or in the related Authorizing Resolution and/or supplemental in- denture, if anyprovided therein, the obligation of the Company applicable Issuer and the Guarantor to make any payment of princi- pal of the principal, premium or interest or any Additional Amounts thereon shall not be discharged or satisfied by any tender by such Issuer or the CompanyGuarantor, or recovery by the Trustee, in any currency other than the Re- quired Required Currency, except to the extent that such tender or recovery shall re- xxxx result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is in a currency other than the Required Currency, the Trustee may take such actions as it considers appropriate to exchange such currency for the Required Currency. The costs and risks of any such exchange, including without limitations, limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company; applicable Issuer and the Company Guarantor, and such Issuer and the Guarantor shall remain fully liable for any shortfall or delinquency in the full amount of the Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefor. The Company Each Issuer and the Guarantor hereby waives waive any defense of payment based upon any such tender or recovery which is not in the Required Currency, or which, when exchanged for the Required Currency by the Trustee, is less than the full amount of Required Currency then due and payable. ARTICLE 11.