G7 Currency definition
Examples of G7 Currency in a sentence
Each Bank shall have the right, but not the obligation, to offer to make all or any part of any G-7 Currency Bid Loan or Loans described on any Bid Loan Request under this Article VIII in a minimum Equivalent Amount of U.S.$1,000,000 and an integral multiple of 100,000 units of the applicable G-7 Currency.
The G-7 Currency Administrative Agent will promptly distribute to any Bank each such payment made with respect to a G-7 Currency Bid Loan made by such Bank.
The Borrowers shall make each payment to be made in a G-7 Currency of principal of, and interest on, the G-7 Currency Loans hereunder not later than 12:00 noon (London time) on the date when due, in the applicable G-7 Currency funds as may then be customary for settlement of international transactions in such G-7 Currency immediately available to the G-7 Currency Administrative Agent at its Payment Office.
At or prior to noon (London time) two Business Days prior to the proposed Funding Date for any G-7 Currency Bid Loans, the G-7 Currency Administrative Agent shall notify Pentair and each Bank with respect to which any portion of such Bank's G-7 Currency Bid has been accepted of the Interbank Offered Rate applicable to such G-7 Currency Bid Loans as determined pursuant to the definition of "Interbank Offered Rate.
Each G-7 Currency Bid Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the sum of the Interbank Offered Rate for such Interest Period plus (or minus) the G-7 Currency Bid offered by the Bank making such Bid Loan and accepted by the Borrower as the Margin Rate applicable to such G-7 Currency Bid Loan pursuant to Section 8.4(a).
Letters of Credit denominated in U.S. Dollars ("U.S. Dollar Letters of Credit ) shall be administered by the U.S. Dollar Administrative Agent, and Letters of Credit denominated in any G-7 Currency ("G-7 Currency Letters of Credit ) shall be administered by the G-7 Currency Administrative Agent.
In addition, the provisions of Article III shall apply to U.S. Dollar Loans; the provisions of Article IV shall apply to G-7 Currency Loans; the provisions of Article V shall apply to Overnight Loans; the provisions of Article VI shall apply to Canadian Loans; the provisions of Article VII shall apply to Domestic Bid Loans; the provisions of Article VIII shall apply to G-7 Currency Bid Loans; and the provisions of Article IX shall apply to Letters of Credit.
If any Bid omits information required by the form provided as Exhibit C-2, the G-7 Currency Administrative Agent will promptly attempt to notify the Bank submitting such Bid and such Bank may resubmit such Bid if it is able to do so prior to the G-7 Currency Submission Deadline but without modifying any G-7 Currency Bid originally set forth therein.
Such Bank agrees to promptly notify each of the U.S. Dollar Administrative Agent and the G-7 Currency Administrative Agent of any change in circumstances which would modify or render invalid any claimed exemption or reduction.
Interest on CD, Daily Pricing, Eurodollar, G-7 Currency and Bid Loans shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed, calculated as to each Interest Period from and including the first day thereof to but excluding the last day thereof.