Same Optional Currency Sample Clauses
The "Same Optional Currency" clause establishes that, when parties have the right to make payments in an optional currency, all payments related to a particular transaction or obligation must be made in the same chosen currency. In practice, this means that if a party elects to pay in a currency different from the original contract currency, all subsequent payments for that obligation must consistently use the selected alternative currency. This clause ensures consistency and avoids confusion or disputes over currency fluctuations, thereby simplifying accounting and settlement processes for both parties.
Same Optional Currency. (a) If a Term Loan is to be continued during its next Interest Period in the same Optional Currency as that in which it is denominated during its current Interest Period, the Agent shall calculate the difference between the amount of the Term Loan (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Term Loan for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Sterling Amount of the Term Loan on the basis of the Agent's Spot Rate of Exchange three Business Days before the commencement of that Interest Period. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
(b) At the end of the current Interest Period (but subject always to paragraph (c) below):
(i) if the amount of the Term Loan for the next Interest Period is less than that of the preceding Interest Period, the Company shall repay the difference in such Optional Currency; or
(ii) if the amount of the Term Loan for the next Interest Period is greater than that of the preceding Interest Period, each Bank shall forthwith make available to the Agent for the Company its participation in the difference and the Agent shall pay to the Company the difference in such Optional Currency.
(c) If the Agent's Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against Sterling of less than five per cent. when compared with the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 9 (Optional Currencies) "Original Exchange Rate" means the Agent's Spot Rate of Exchange used for determining the amount of the Optional Currency for the Interest Period which is the later of the following:
Same Optional Currency. (a) If a Tranche B Advance or Term-out Advance is to be continued during its next Interest Period in the same Optional Currency as that in which it is denominated during its current Interest Period, there shall be calculated the difference between the amount of the Tranche B Advance or Term-out Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Tranche B Advance or Term-out Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Dollar Amount of the Tranche B Advance or Term-out Advance on the basis of the Agent's Spot Rate of Exchange three Business Days before the start of that Interest Period.
(b) At the end of the current Interest Period (but subject always to paragraph (c) below):
(i) if the amount of the Tranche B Advance or Term-out Advance for the next Interest Period is less than for the preceding Interest Period, the relevant Borrower shall repay the difference; or
(ii) if the amount of the Tranche B Advance or Term-out Advance for the next Interest Period is greater than for the preceding Interest Period, each Lender shall forthwith make available to the Agent for the relevant Borrower its participation in the difference.
(c) If the Agent's Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against U.S. Dollars of less than ten per cent. when compared with the result achieved by using the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 8.8 and in Clause 8.9 (Prepayments and repayments) "ORIGINAL EXCHANGE RATE" means the Agent's Spot Rate of Exchange used for determining the amount of the Optional Currency for the Interest Period which is the later of the following:
Same Optional Currency. (a) If a Tranche A Advance or Term-out Advance is to be continued during its next Interest Period in the same Optional Currency as that in which it is denominated during its current Interest Period, there shall be calculated the difference between the amount of the Tranche A Advance or Term-out Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Tranche A Advance or Term-out Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Dollar Amount of the Tranche A Advance or Term-out Advance on the basis of the Agent's Spot Rate of Exchange three Business Days before the commencement of that Interest Period.
(b) At the end of the current Interest Period (but subject always to paragraph (c) below):
(i) if the amount of the Tranche A Advance or Term-out Advance for the next Interest Period is less than for the preceding Interest Period, the relevant Borrower shall repay the difference; or
(ii) if the amount of the Tranche A Advance or Term-out Advance for the next Interest Period is greater, each Bank shall forthwith make available to the Agent for the relevant Borrower its participation in the difference.
(c) If the Agent's Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against Dollars of less than five per cent. when
Same Optional Currency. (a) If a Tranche A Advance is to be continued during its next Interest Period in the same Optional Currency as that in which it is denominated during its current Interest Period, there shall be calculated the difference between the amount of the Tranche A Advance (in that Optional Currency) for the current Interest Period and for the next Interest Period. The amount of the Tranche A Advance for the next Interest Period will be determined by notionally converting into that Optional Currency the Original Euro Amount of the Tranche A Advance on the basis of the Agent's Spot Rate of Exchange two Business Days before the commencement of that Interest Period.
(b) At the end of the current Interest Period (but subject always to paragraph (c) below):
(i) if the amount of the Tranche A Advance for the next Interest Period is less than for the preceding Interest Period, the Borrower shall repay the difference; or
(ii) if the amount of the Tranche A Advance for the next Interest Period is greater, each Tranche A Bank shall forthwith make available to the Agent for the Borrower its participation in the difference. -------------------------------------------------------------------------------- 45 42 --------------------------------------------------------------------------------
(c) If the Agent's Spot Rate of Exchange for the next Interest Period shows an appreciation or depreciation of the Optional Currency against Euro of less than five per cent. when compared with the Original Exchange Rate, no amounts are payable in respect of the difference. In this Clause 12, "ORIGINAL EXCHANGE RATE" means the Agent's Spot Rate of Exchange used for determining the amount of the Optional Currency for the Interest Period which is the later of the following: