LUX » Topics » If before the Specified Time on any Quotation Day:

This excerpt taken from the LUX 20-F filed Jun 28, 2006.
If before the Specified Time on any Quotation Day:

(a)                                  a Facility C Lender notifies the US Agent that the Optional Currency (if requested) is not readily available to it in the amount required; or

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(b)                                 a Facility C Lender notifies the US Agent that compliance with its obligation to participate in a Facility C Loan in the Optional Currency (if requested) would contravene a law or regulation applicable to it,

the Agent will give notice to the relevant Borrower to that effect by the Specified Time on that day. In this event, any Facility C Lender that gives notice pursuant to this Clause 6 will be required to participate in the Loan in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount, or in respect of a Rollover Loan, an amount equal to that Lender’s proportion of the Base Currency Amount of the Rollover Loan that is due to be made) and its participation will be treated as a separate Loan denominated in the Base Currency during that Interest Period.

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