Common use of Substitution of Currency Clause in Contracts

Substitution of Currency. If a change in any Committed Currency occurs pursuant to any applicable law, rule or regulation of any governmental, monetary or multi-national authority, this Agreement (including, without limitation, the definitions of LIBO Base Rate) will be amended to the extent determined by the Agent (acting reasonably and in consultation with the Borrower) to be necessary to reflect the change in currency and to put the Banks and the Borrower in the same position, so far as possible, that they would have been in if no change in such Committed Currency had occurred.

Appears in 8 contracts

Samples: Credit Agreement (3m Co), Credit Agreement (3m Co), Five Year Credit Agreement (3m Co)

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