Define: Alternative Currency Equivalent
What does "Alternative Currency Equivalent" mean? The meaning differs based on the contract. We found 3 definitions across 3 companies in SEC filings.
Definition 1 (CISCO SYSTEMS, INC., seen in 1 filing)
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 or the applicable L/C Issuer, as the case may be, by reference to Reuters (or such other publicly available service for displaying exchange rates), to be the exchange rate for the purchase of such Alternative Currency with Dollars at approximately 11:00 a.m. on the date two (2) Business Days prior to the date as of which the foreign exchange computation is made; provided, however, that if no such rate is available, the Alternative Currency Equivalent shall be determined by the Administrative Agent or the applicable L/C Issuer, as the case may be, using any reasonable method of determination it deems appropriate in its sole discretion (and such determination shall be conclusive absent manifest error).
Source: CISCO SYSTEMS, INC. 8-K
Definition 2 (ANALOG DEVICES INC, seen in 1 filing)
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 or the L/C Issuer, as the case may be, 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 at approximately 11:00 a.m. on the date two (2) Business Days prior to the date as of which the foreign exchange computation is made.
Source: ANALOG DEVICES INC 8-K
Definition 3 (EQUINIX INC, seen in 1 filing)
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 or the L C Issuer, as the case may be, by reference to Bloomberg (or such other publicly available service for displaying exchange rates), to be the exchange rate for the purchase of such Alternative Currency with Dollars at approximately 11 00 a.m. on the date two (2) Business Days prior to the date as of which the foreign exchange computation is made provided , however , that if no such rate is available, the Alternative Currency Equivalent shall be determined by the Administrative Agent or the L C Issuer, as the case may be, using any reasonable method of determination it deems appropriate in its sole discretion (and such determination shall be conclusive absent manifest error).
Source: EQUINIX INC 10-K
Data extracted from 4 SEC EDGAR filings across 3 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.