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Foreign Currency Hedge
Foreign Currency Hedge contract clause examples

Foreign Currency. Notwithstanding anything contained herein to the contrary, the entire amount of principal of and interest on any Revolving Credit Loan made or Letter of Credit issued in an Foreign Currency shall be repaid in the same Foreign Currency in which such Loan was made or Letter of Credit was issued, provided, however, that # if it is impossible or illegal for Borrower to effect payment of a Loan or reimbursement of a Letter of Credit in the Foreign Currency in which such Loan was made or Letter of Credit was issued, or # if Borrower defaults in its obligations to do so, the Multicurrency Administrative Agent may, at its option (and, in the case of # above shall) permit such payment to be made # at and to a different location, subsidiary, Affiliate or correspondent of Multicurrency Administrative Agent, or # in the Dollar Equivalent in Dollars. Upon any events described in [(i) through (ii)] of the preceding sentence, Borrower shall make such payment and Borrower agrees to hold each Multicurrency Lender harmless from and against any loss incurred by any Multicurrency Lender arising from the cost to such Multicurrency Lender of any premium, any costs of exchange, the cost of hedging and covering the Foreign Currency in which such Revolving Credit Loan was originally made or Letter of Credit was originally issued, and from any change in the value of Dollars, or such other currency, in relation to the Foreign Currency that was due and owing. Such loss shall be calculated for the period commencing with the first day of the Interest Period for such Loan and continuing through the date of payment thereof.

Notwithstanding anything contained herein to the contrary, the entire amount of principal of and interest on any Revolving Credit Loan made in an Optional Currency shall be repaid in the same Optional Currency in which such Revolving Credit Loan was made, provided, however, that if it is impossible or illegal for the Borrowers to effect payment of a Revolving Credit Loan in the Optional Currency in which such Revolving Credit Loan was made, or if the Borrowers default in their obligations to do so, the Required Lenders may at their option permit such payment to be made # at and to a different location, subsidiary, affiliate or correspondent of Administrative Agent, # in the Equivalent Amount of Dollars or # in an Equivalent Amount of such other currency (freely convertible into Dollars) as the Required Lenders may solely at their option designate. Upon any events described in [(i) through (iii)] of the preceding sentence, the Borrowers shall make such payment, and the Borrowers agree to indemnify and hold each Lender harmless from and against any loss incurred by any Lender arising from the cost to such Lender of any premium, any costs of exchange, the cost of hedging and covering the Optional Currency in which such Revolving Credit Loan was originally made, and from any change in the value of Dollars, or such other currency, in relation to the Optional Currency that was due and owing. Such loss shall be calculated for the period commencing with the first day of the Interest Period for such Revolving Credit Loan and continuing through the date of payment thereof. Without prejudice to the survival of any other agreement of the Borrowers hereunder, the Borrowers' obligations under this [Section 2.10] shall survive termination of this Agreement.

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