Best Buy 2003 Annual Report Download - page 72
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3.5. If the amount outstanding under any Loan in Canadian Dollars plus the
Canadian Dollar Equivalent of the amount outstanding under any Loan in a currency
other than Canadian dollars at any time exceeds the amount authorized under that
Loan as provided under the heading “Credit Facilities” in the Offer Letter, the Bank
may, from time to time, in its sole discretion:
3.5.1 limit the further utilization of that Loan;
3.5.2 convert all or part of the amount outstanding under that Loan to Canadian Dollars in which
event, interest shall accrue and be paid on such converted amounts at the rate set out in the Offer Letter
for Canadian dollar advances accruing interest with reference to the Bank’s Prime Rate;
3.5.3 require the Borrower to pay down the excess;
3.6. Any amount payable by the Borrower to the Bank under the Offer Letter or the
Loan Documents may be debited to any account of the Borrower with the Bank;
3.7. The Borrower shall indemnify the Bank against any loss incurred by it as a result
of any judgment or order being given or made for the payment of any amount due
under the Offer Letter or the Loan Documents, where:
3.7.1 such judgment or order is expressed and paid in a currency (the “Judgment Currency”) other
than the currency of an outstanding loan (the “Loan Currency”); and
4
3.7.2 there is a variation between:
3.7.2.1 the rate of exchange at which the Loan Currency amount is converted into the Judgment Currency for the
purposes of such judgment or order; and
3.7.2.2 the rate of exchange at which the Bank is able to purchase the Loan Currency with the amount of the
Judgment Currency then actually received by the Bank.
The foregoing indemnity shall constitute a separate and independent obligation of the Borrower and shall apply irrespective of any
indulgence granted to the Borrower from time to time, and shall continue in full force and effect notwithstanding any such judgment
or order as aforesaid. The term “rate of exchange”, shall include any premiums and costs of exchange payable in connection with the
purchase of, or conversion into, the relevant currency.