Specified Currency definition
Examples of Specified Currency in a sentence
To the extent that any Interest Proceeds are received in a Specified Currency other than USD, the Collateral Agent will immediately convert such Interest Proceeds into USD, at the prevailing spot rate of exchange at such time, for deposit into the Interest Collection Account.
If for the purpose of obtaining judgment in any court it is necessary to convert a sum due hereunder in the Specified Currency into another currency (the “Second Currency”), the rate of exchange that shall be applied shall be the rate at which in accordance with normal banking procedures the Administrative Agent could purchase the Specified Currency with the Second Currency on the Business Day next preceding the day on which such judgment is rendered.
To the extent that any amounts to be held in the Payment Account are denominated in a Specified Currency other than USD, the Collateral Agent shall immediately convert such Principal Proceeds into USD, at the prevailing spot rate of exchange at such time.
This is an international loan transaction in which the specification of Dollars or any Foreign Currency, as the case may be (the “Specified Currency”), and payment in New York City or the country of the Specified Currency, as the case may be (the “Specified Place”), is of the essence, and the Specified Currency shall be the currency of account in all events relating to Loans denominated in the Specified Currency.
Except as otherwise expressly stated, information in such reports as to any asset shall be in the Specified Currency of such asset.