Convertibility Event definition

Convertibility Event means the determination by the national government of the country in the currency of which the Notes were issued, that such currency is substituted by another currency;

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Convertibility Event means the (indirect or direct) determination by government of the Netherlands, that the euro is substituted by another currency;

Convertibility Event means, an event that has the effect of preventing, restricting or delaying a market participant from:

Examples of Convertibility Event in a sentence

• Exclusively upon the occurrence of a Convertibility Event and the receipt of a written request from the Agent, Issuer will conclude a Convertibility Support and Escrow Agreement with Cargill Financial Services International, Inc.

• The original Maturity or accelerated maturity of the Notes as a result of the exercise of a Call/Put Option shall be extended upon the occurrence of a Convertibility Event as deemed reasonably necessary by the Agent to enable Issuer to fulfill its payment obligations under the Note through the export of goods during shipment windows designated by the Agent.

• The original Maturity or accelerated maturity of the Notes as a result of the exercise of a call or put option shall be extended upon the occurrence of a Convertibility Event as deemed reasonably necessary by the Agent to enable Issuer to fulfill its payment obligations under the Notes through the export of goods during shipment windows designated by the Agent.

• Exclusively upon the occurrence of a Convertibility Event and the receipt of a written request from the Agent, Issuer will conclude a Convertibility Support and Escrow Agreement with Cargill Financial Services International Inc.

More Definitions of Convertibility Event

Convertibility Event means the determination by the Netherlands, that the euro is substituted by another currency;

Convertibility Event means any action, event or circumstance whatsoever which, from a legal or practical perspective:

Convertibility Event means (a) an act or series of acts (whether through action or inaction), directly or indirectly, taken (or not taken), directed, authorized, ratified or approved by the Host Government that prevents the Subsidiary Guarantor, from directly or indirectly: (i) converting any currency into such payment currency under the Guaranteed Obligations; and/or (ii) transferring outside Brazil the funds needed to comply with Subsidiary Guarantor’s obligations hereunder and under the Guaranteed Obligations, as applicable, in such currency and place of payment as corresponding to such Guaranteed Obligations; or (b) failure by the Host Government (or by entities authorized under the laws of Brazil to operate in the foreign exchange markets) to effect a conversion and/or transfer under (a) above on behalf of the Subsidiary Guarantor.

Convertibility Event. ’ means, subject to the exceptions detailed in the following paragraph, any event or the existence of any condition (including without limitation any such event or condition that occurs as a result of the enactment, promulgation, execution, ratification, interpretation or application of, or any change in or amendment to, any law, rule, policy or regulation by any Governmental Authority of the Russian Federation) that, in the opinion of the Servicer (acting reasonably), has the effect of generally making it impossible or illegal, or has the effect of prohibiting or restricting the conversion by Borrowers and the Servicer of Roubles into U.S. dollar amounts for the purpose of meeting their obligations under the Mortgage Loans, or requiring the U.S. dollar obligations of the Borrowers and/or the Servicer to be paid in Roubles.

Convertibility Event. ’ means any event or the existence of any condition that constitutes, or occurs primarily as a result of, the enactment, promulgation, execution, ratification, interpretation, operation or application of, or any change in or amendment to, any law,rule, policy, act, decree, ordinance, order or regulation by, or the actions of, any governmental, quasi-governmental, regulatory or other official authority or body of the Russian Federation) that, in the opinion of the Liquidity Facility Provider (acting in good faith), (A) has the effect of generally making it impossible or illegal to convert, or (B) has the effect of prohibiting or restricting, the conversion of, Roubles into U.S. Dollars and/or Euro and which, in either case, adversely affects, as applicable (i) the ability of the Loan Note Issuer or the Liquidity Facility Provider to fulfil its obligations under any of the Loan Notes Transaction Documents or (ii) the ability of the Swap Counterparty to convert the Roubles it receives pursuant to the terms of any of the Loan Notes Transaction Documents.