Selling Rate definition
Examples of Selling Rate in a sentence
If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum due hereunder in a Currency of Payment into another currency, the parties hereto agree that the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase such Currency of Payment with such other currency at the Spot Selling Rate on the Business Day preceding that on which final judgment is given.
In addition, for purposes of making the allocations required by Section 5.07 with respect to any amount that is denominated in any currency other than Dollars, the Collateral Agent shall, on the applicable Distribution Date, convert such amount into an amount of Dollars based upon the relevant Spot Selling Rate.
The Dollar Equivalent of any amounts denominated or reported under a Loan Document in a currency other than dollars shall be determined by the Administrative Agent on a daily basis based on the Spot Selling Rate.
The Spot Selling Rates so determined shall become effective on the relevant Calculation Date (a “Reset Date”), shall remain effective until the next succeeding Reset Date and shall for all purposes of this Agreement (other than Section 10.18 and any other provision expressly requiring the use of a current Spot Selling Rate) be the Spot Selling Rates employed in converting any amounts between Dollars and Canadian Dollars.
All sales in currencies other than United States dollars shall first be converted into United States dollars calculated under the TT Spot Selling Rate employed by the head office of The Sumitomo Bank Ltd.
Net Revenue received in currencies other than U.S. Dollars shall be converted into U.S. Dollars at the New York Foreign Exchange Selling Rate as of the last business day of the Royalty Quarter in which such Net Revenue is received (as published in The Wall Street Journal).
Each of these fees and expenses shall be calculated in the denominated currency of each Tranche B Letter of Credit, but payable by the Borrower to the relevant Tranche B Lender in Baht at the Selling Rate.
Card Holder/Additional Card Holder agrees and undertakes that the Bank is entitled to convert the expenses, additional payments and commissions to be notified to the Bank in relation to the Card's use for the foreign currency debts not paid in full or in part as of the payment due date into TL on the basis of the Bank's Foreign Currency Selling Rate prevailing on the same day (payment due date) together with their accessories such as taxes, duties, charges, funds, etc.
For purposes of any determination under Section 7.5 or 7.8, the amount of each Investment, Disposition or other applicable transaction denominated in a currency other than Dollars shall be translated into Dollars at the Spot Selling Rate on the date such Investment, Disposition or other transaction is consummated.
REDtone may make commercially reasonable changes to the SIPhony Services Selling Rate by providing Customer with written notice at least seven days prior to the start of the new rates.