Euro Currency. (a) The following provisions of this Section 12.15 shall come into effect on and from the date on which the United Kingdom becomes a Participating Member State. Each obligation under this Agreement which has been denominated in Sterling shall be redenominated into Euros in accordance with the relevant EMU Legislation. However if and to the extent that the relevant EMU Legislation provides that an amount which is denominated in Sterling can be paid by the debtor either in Euros or in that national currency unit, each party to this Agreement shall be entitled to pay or repay any amount denominated or owing in Sterling hereunder either in Euros or in Sterling. Without prejudice and in addition to any method of conversion or rounding prescribed by any relevant EMU Legislation, (i) each reference in this Agreement to a minimum amount (or an integral multiple thereof) in Sterling shall be replaced by a reference to such reasonably comparable and convenient amount (or an integral multiple thereof) in Euros as Administrative Agent may from time to time specify and (ii) except as expressly provided in this Section 12.15, this Agreement shall be subject to such reasonable changes of construction as Administrative Agent may from time to time specify to be necessary or appropriate to reflect the introduction of or changeover to Euros in the United Kingdom.
Euro Currency. (a) If at any time that an Offshore Currency Loan is outstanding, the relevant Offshore Currency is replaced as the lawful currency of the country that issued such Offshore Currency (the “Issuing Country”) by the Euro then such Offshore Currency Loan shall be automatically converted into a Loan denominated in Euros in a principal amount equal to the amount of Euros into which the principal amount of such Offshore Currency Loan would be converted pursuant to the laws of the Issuing Country and thereafter (i) no further Loans will be available in such Offshore Currency and (ii) all references in the Loan Documents to such Offshore Currency shall be deemed to be the Euro.
Euro Currency. 25.1 Any legislative requirement to account for the Services in euro or other currency (or to prepare for such accounting) instead of and/or in addition to sterling, shall be implemented by the Contractor at nil charge to the Authority.
Euro Currency. If at any time that an Alternative Currency Loan is outstanding, the relevant Alternative Currency is replaced as the lawful currency of the country that issued such Alternative Currency (the "Issuing Country") by the Euro then such Alternative Currency Loan shall be automatically converted into a Loan denominated in Euros in a principal amount equal to the amount of Euros into which the principal amount of such Alternative Currency Loan would be converted pursuant to the laws of the Issuing Country and thereafter (i) no further Loans will be available in such Alternative Currency and (ii) all references in the Loan Documents to such Alternative Currency shall be deemed to be the Euro.
Euro Currency. (a) The following provisions of this Section 12.13 shall come into effect on and from the date on which the United Kingdom or Switzerland, as applicable, becomes a Participating Member State. Each obligation under this Agreement which has been denominated in Sterling or Swiss Francs, as applicable, shall be redenominated into Euros in accordance with the relevant EMU Legislation. However if and to the extent that the relevant EMU Legislation provides that an amount which is denominated in Sterling or Swiss Francs, as applicable, can be paid by the debtor either in Euros or in that national currency unit, each party to this Agreement shall be entitled to pay or repay any amount denominated or owing in Sterling or Swiss Francs, as applicable, hereunder either in Euros or in Sterling or Swiss Francs, as applicable. Without prejudice and in addition to any method of conversion or rounding prescribed by any relevant EMU Legislation, (i) each reference in this Agreement to a minimum amount (or an integral multiple thereof) in Sterling or Swiss Francs, as applicable, shall be replaced by a reference to such reasonably comparable and convenient amount (or an integral multiple thereof) in Euros as Administrative Agent may from time to time reasonably specify and (ii) except as expressly provided in this Section 12.13, this Agreement shall be subject to such reasonable changes of construction as Administrative Agent may from time to time specify to be necessary or appropriate to reflect the introduction of or changeover to Euros in the United Kingdom or Switzerland, as applicable.
Euro Currency. (a) If at any time that an Alternative Currency Loan or a Letter of Credit denominated in an Alternative Currency is outstanding, the relevant Alternative Currency is replaced as the lawful currency of the country that issued such Alternative Currency (the "Issuing Country") by the Euro then such Alternative Currency Loan or Letter of Credit denominated in an Alternative Currency shall be automatically converted into a Loan or Letter of Credit denominated in Euros in a principal amount equal to the amount of Euros into which the principal amount of such Alternative Currency Loan or Letter of Credit denominated in an Alternative Currency would be converted pursuant to the laws of the Issuing Country and thereafter (i) no further Loans or Letters of Credit will be available in such Alternative Currency and (ii) all references in the Loan Documents to such Alternative Currency shall be deemed to be the Euro.
