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Alternative Currency
Alternative Currency contract clause examples
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Alternative Currency Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars.

“U.K. Swing Line Alternative Currency Rate Loan” means a U.K. Swing Line Loan denominated in Euros or Sterling that bears interest at a rate based on the definition of “U.K. Swing Line Alternative Currency Rate.” All U.K. Swing Line Alternative Currency Rate Loans are only available to the U.K. Borrowers and must be denominated in Euros or Sterling.

denominated in any other Non-LIBOR Quoted Currency, the rate per annum as designated with respect to such Alternative Currency at the time such Alternative Currency is approved by the Administrative Agent and the Banks pursuant to [Section 1.04(a)]; and

amend the definition of “Alternative Currency”, the definition of “Alternative L/C Currency” or [Section 1.13] without the written consent of each Revolving Credit Lender and each Issuing Lender; or

with respect to any Loan denominated in any Alternative Currency, the principal amount thereof then outstanding in the relevant Alternative Currency, converted to Dollars in accordance with [Section 1.08]; and

Additional Alternative Currencies may from time to time request that Alternative Currency Loans be made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternative Currency;” provided that such requested currency is an Eligible Currency. In the case of any such request with respect to the making of Alternative Currency Loans, such request shall be subject to the approval of the Administrative Agent and the Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the L/C Issuer.

Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.06, the Administrative Agent shall promptly so notify the Company. Any specified currency of an Existing Letter of Credit that is neither Dollars nor one of the Alternative Currencies specifically listed in the definition of “Alternative Currency” shall be deemed an Alternative Currency with respect to such Existing Letter of Credit only.

Alternative Currency” means Sterling.

In the case of a Credit Extension to be denominated in an Alternative Currency, there shall not have occurred any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which in the reasonable opinion of the Administrative Agent, the Required Lenders (in the case of any Loans to be denominated in an Alternative Currency) or the L/C Issuer (in the case of any Letter of Credit to be denominated in an Alternative Currency) would make it impracticable for such Credit Extension to be denominated in the relevant Alternative Currency.

Alternative Currency Sublimit” means an amount equal to the lesser of the Revolving Credit Commitments and $50,000,000. The Alternative Currency Sublimit is a part of, and not in addition to, the Revolving Credit Commitments.

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