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Alternative Currency
Alternative Currency contract clause examples
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Alternative Currency Loan” means an Alternative Currency Daily Rate Loan or an Alternative Currency Term Rate Loan, as applicable. All Loans denominated in an Alternative Currency must be Alternative Currency Term Rate Loans or Alternative Currency Daily Rate Loans.

Borrowings and Continuations of Alternative Currency Loans. In addition to any other borrowing requirements set forth in the Agreement:

any outstanding affected Alternative Currency Loans, at the applicable Borrower’s election shall either # be converted into a U.K. Revolving Borrowing of Domestic Base Rate Loans in the Dollar Equivalent of the amount of such outstanding Alternative Currency Loan immediately, in the case of an Alternative Currency Daily Rate Loan or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loan, or # be prepaid in full immediately, in the case of an Alternative Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of an Alternative Currency Term Rate Loan; provided, that, if no election is made by the applicable Borrower # in the case of an Alternative Currency Daily Rate Loan, by the date that is three (3) Business Days after receipt by [[Released U.K. Borrowers:Organization]] of such notice, or # in the case of an Alternative Currency Term Rate Loan, by the last day of the current Interest Period for the applicable Alternative Currency Term Rate Loan, such Borrower shall be deemed to have elected [clause (1) above]; and

Any failure by a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the last sentence of [Section 1.05(b)] shall be deemed to be a refusal by such Lender or the L/C Issuer, as the case may be, to permit Alternative Currency Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the Lenders consent to making Alternative Currency Loans in such requested currency and the Administrative Agent and such Lenders reasonably determine that an appropriate interest rate is available to be used for such requested currency, the Administrative Agent shall so notify and # the Administrative Agent and such Lenders may amend the definition of Alternative Currency Daily Rate or Alternative Currency Term Rate to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate and # to the extent the definition of Alternative Currency Daily Rate or Alternative Currency Term Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency for purposes of any Borrowings of Alternative Currency Loans. If the Administrative Agent and the L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify and # the Administrative Agent and the L/C Issuer may amend the definition of Alternative Currency Daily Rate or Alternative Currency Term Rate, as applicable, to the extent necessary to add the applicable rate for such currency and any applicable adjustment for such rate and # to the extent the definition of Alternative Currency Daily Rate or Alternative Currency Term Rate, as applicable, has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency, for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.05, the Administrative Agent shall promptly so notify .

Alternative Currency” means each of Euro, Sterling, Australian Dollars, Canadian Dollars, Mexican Pesos and each other currency (other than Dollars) that is approved in accordance with Section 1.05; provided that for each Alternative Currency, such requested currency is an Eligible Currency.

Wherever in this Agreement in connection with a Revolving Borrowing of an Alternative Currency Loan, or a conversion, continuation or prepayment of an Alternative Currency Loan, or a Canadian Swing Line Borrowing denominated in an Alternative Currency,Canadian Dollars or the prepayment of Canadian Swing Line Loans denominated in an Alternative Currency, or a U.K. Swing Line Borrowing denominated in an Alternative Currency, or the prepayment of U.K. Swing Line Loans denominated in an Alternative CurrencyCanadian Dollars, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing or Loan is denominated in an Alternative CurrencyCanadian Dollars, such amount shall be the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the nearest unit of such Alternative CurrencyCanadian Dollars, with 0.5 of a unit being rounded upward), as determined by the applicableCanadian Agent or the applicableCanadian Swing Line Lender, as the case may be.

“Non-LIBOR Currency” means any Alternative Currency other than a LIBOR Currency.

Agreed Currency” means # Dollars and # each Alternative Currency.

Currency” shall mean Dollars or any Alternative Currency.

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