Common use of Currency Equivalent Clause in Contracts

Currency Equivalent. Except as otherwise provided in this Indenture, for purposes of the construction of the terms of this Indenture or of the Securities, in the event that any amount is stated herein in the Currency of one nation (the “First Currency”), as of any date such amount shall also be deemed to represent the amount in the Currency of any other relevant nation (the “Other Currency”) which is required to purchase such amount in the First Currency at the Bank of Canada average daily rate of exchange (or another Canadian chartered bank as may be designated in writing by the Company to the Trustees from time to time) on the date of determination.