Common use of Unavailability of Euro Clause in Contracts

Unavailability of Euro. If the Euro is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the Company’s control or the Euro is no longer used by the then member states of the European Monetary Union that have adopted the Euro as their currency or for the settlement of transactions by public institutions within the international banking community, then all payments in respect of the Notes will be made in Dollars until the Euro is again available to the Company or so used. In such circumstances, the amount payable on any date in Euros will be converted to Dollars on the basis of the Market Exchange Rate on the second Business Day before the date that payment is due, or if such Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate on or before the date that payment is due. Any payment in respect of the Notes so made in Dollars will not constitute an Event of Default under this Supplemental Indenture or the Notes. Neither the Trustee nor the Paying Agent will be responsible for obtaining exchange rates, effecting conversions or otherwise handling redenominations.

Appears in 4 contracts

Samples: Supplemental Indenture (BALL Corp), Supplemental Indenture (BALL Corp), Indenture (Ball Corp)

AutoNDA by SimpleDocs

Unavailability of Euro. If the Euro euro is unavailable to the Company Issuers due to the imposition of exchange controls or other circumstances beyond the Company’s Issuers’ control or the Euro euro is no longer used by the then member states of the European Monetary Union that have adopted the Euro euro as their currency or for the settlement of transactions by public institutions within the international banking community, then all payments in respect of the Notes will be made in Dollars U.S. dollars until the Euro euro is again available to the Company Issuers or so used. In such circumstances, the The amount payable on any date in Euros will be converted to Dollars U.S. dollars on the basis of the Market Exchange Rate on the second Business Day business day before the date that payment is due, or if such Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate on or before the date that payment is due. Any payment in respect of the Notes so made in Dollars U.S. dollars will not constitute an Event of Default under this Supplemental Indenture or the NotesIndenture. Neither the Trustee nor the Paying Agent will shall be responsible for obtaining or determining exchange rates, effecting conversions or otherwise handling redenominations.

Appears in 1 contract

Samples: Eleventh Supplemental Indenture (MPT Operating Partnership, L.P.)

AutoNDA by SimpleDocs

Unavailability of Euro. If the Euro euro is unavailable to the Company Issuers due to the imposition of exchange controls or other circumstances beyond the Company’s Issuers’ control or the Euro euro is no longer used by the then member states of the European Monetary Union that have adopted the Euro euro as their currency or for the settlement of transactions by public institutions within the international banking community, then all payments in respect of the Notes will be made in Dollars U.S. dollars until the Euro euro is again available to the Company Issuers or so used. In such circumstances, the The amount payable on any date in Euros euros will be converted to Dollars U.S. dollars on the basis of the Market Exchange Rate on the second Business Day business day before the date that payment is due, or if such Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate on or before the date that payment is due. Any payment in respect of the Notes so made in Dollars U.S. dollars will not constitute an Event of Default under this Supplemental Indenture or the NotesIndenture. Neither the Trustee nor the Paying Agent will shall be responsible for obtaining or determining exchange rates, effecting conversions or otherwise handling redenominations.

Appears in 1 contract

Samples: Eighth Supplemental Indenture (MPT Operating Partnership, L.P.)

Time is Money Join Law Insider Premium to draft better contracts faster.