Common use of Redenomination of Certain Foreign Currencies and Computation of Dollar Amounts Clause in Contracts

Redenomination of Certain Foreign Currencies and Computation of Dollar Amounts. (a) Each obligation of Platinum US or Platinum Bermuda under this Agreement or any other Credit Document to which it is a party to make a payment denominated in Pounds Sterling shall be redenominated into Euros in the event that and at such time as Great Britain adopts the Euro as its lawful currency after the date hereof. If the basis of accrual of interest expressed in this Agreement in respect of Pounds Sterling shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which Great Britain adopts the Euro as its lawful currency.

Redenomination of Certain Foreign Currencies and Computation of Dollar Amounts. (a) Each obligation of Platinum US UK or Platinum Bermuda under this Agreement or any other Credit Document to which it is a party to make a payment denominated in Pounds Sterling shall be redenominated into Euros in at the event that and at such time as Great Britain adopts the Euro as its lawful currency after the date hereof. If the basis of accrual of interest expressed in this Agreement in respect of Pounds Sterling shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which Great Britain adopts the Euro as its lawful currency.

Redenomination of Certain Foreign Currencies and Computation of Dollar Amounts. (a) Each obligation of Platinum US US, Platinum UK or Platinum Bermuda under this Agreement or any other Credit Document to which it is a party to make a payment denominated in Pounds Sterling shall be redenominated into Euros in at the event that and at such time as Great Britain adopts the Euro as its lawful currency after the date hereof. If the basis of accrual of interest expressed in this Agreement in respect of Pounds Sterling shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which Great Britain adopts the Euro as its lawful currency.

Redenomination of Certain Foreign Currencies and Computation of Dollar Amounts. (a) Each The obligation of Platinum US or Platinum Bermuda each Credit Party under this Agreement or any other Credit Document to which it is a party to make a payment denominated in Pounds Sterling shall be redenominated into Euros in as of the event that and at such time as first Revaluation Date after Great Britain adopts the Euro as its lawful currency Currency after the date hereof. If the basis of accrual of interest expressed in this Agreement in respect of Pounds Sterling shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which Great Britain adopts the Euro as its lawful currencyCurrency, subject to Allied World’s consent (which consent shall not be unduly withheld, conditioned or delayed).

Redenomination of Certain Foreign Currencies and Computation of Dollar Amounts. (a) Each The obligation of Platinum US or Platinum Bermuda each Credit Party under this Agreement or any other Credit Document to which it is a party to make a payment denominated in Pounds Sterling shall be redenominated into Euros in as of the event that and at such time as first Revaluation Date after Great Britain adopts the Euro as its lawful currency Currency after the date hereof. If the basis of accrual of interest expressed in this Agreement in respect of Pounds Sterling shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which Great Britain adopts the Euro as its lawful currencyCurrency, subject to Swiss Holding’s consent (which consent shall not be unduly withheld, conditioned or delayed).