Examples of Alternative Currency in a sentence
In the case of any such reimbursement in US Dollars of a drawing under a Letter of Credit denominated in an Alternative Currency, the applicable Issuing Bank shall notify the Borrower of the US Dollar Equivalent of the amount of the drawing promptly following the determination thereof.
Such payment by the Revolving Lenders shall be made (i) if the currency of the applicable LC Disbursement or reimbursement payment shall be US Dollars, in US Dollars, and (ii) subject to paragraph (m) of this Section, if the currency of the applicable LC Disbursement or reimbursement payment shall be an Alternative Currency, in US Dollars in an amount equal to the US Dollar Equivalent of such LC Disbursement or reimbursement payment.
The Administrative Agent may also determine the US Dollar Equivalent of any Letter of Credit denominated in an Alternative Currency as of such other dates as the Administrative Agent shall select in its discretion, in each case using the Exchange Rate in effect on or about the date of determination, and each such amount shall be the US Dollar Equivalent of such Letter of Credit until the next calculation thereof pursuant to this Section.
In addition, the Administrative Agent shall determine the US Dollar Equivalent of any Letter of Credit denominated in an Alternative Currency as provided in Section 2.05.
The Administrative Agent shall notify the Borrower and the applicable Lenders of each determination of the US Dollar Equivalent of each Letter of Credit denominated in an Alternative Currency.