Examples of Obligation Currency in a sentence
Notwithstanding the foregoing, the Lender has no obligation to accept payment in a currency other than the Obligation Currency.
Payment Requirement: USD 1,000,000 or its equivalent in the relevant Obligation Currency as of the occurrence of the relevant Failure to Pay.
Payment Requirement: [INR []] [or its equivalent in the relevant Obligation Currency as of the occurrence of the relevant Failure to Pay] [If Obligations may be denominated in currencies other than INR, given that INR is a non-deliverable currency, pls advise if we should include prescriptive FX provisions (and appropriate fall backs) to determine the Obligation Currency equivalent of the Payment Requirement.] Juris Corp: We understand that RBI intends that only local currency Obligations should qualify.
If the Lender receives from or on behalf of any Loan Party any amount under this Loan Agreement or any other Loan Document in a currency other than the currency in which the Obligations are denominated (the “Obligation Currency”), including, without limitation, by way of enforcement upon Facility Collateral, the Lender is hereby authorized to, and at its sole discretion may, convert such currency into the Obligation Currency for application to the Obligations in accordance with the Loan Agreement.
Multiple Holder Obligation: Not Applicable Default Requirement: USD 10,000,000 or its equivalent in the relevant Obligation Currency as of the occurrence of the relevant Failure to Pay.