Currency Accounts Clause Samples

The Currency Accounts clause establishes the rules and procedures for maintaining and managing accounts in different currencies within a contractual relationship. It typically outlines how payments, deposits, or balances are handled when parties transact in more than one currency, specifying which currencies are permitted and how conversions, if necessary, are to be calculated. This clause ensures clarity and consistency in financial dealings involving multiple currencies, reducing the risk of disputes over exchange rates or payment obligations.
Currency Accounts. 2.14.1. Subject to agreement with us, Currency Accounts can be denominated in most of the main global currencies – for example US dollar and euro. 2.14.2. Currency Accounts are available only to commercial clients who hold a sterling denominated Account with us. If your sterling denominated Account is closed, suspended or under notice of closure, we may close your Currency Account and any balance and accumulated interest will be repaid to you. 2.14.3. Subject to agreement with us, Currency Accounts can be opened as a Current Account, a Notice Account or Fixed Term Deposit Account. 2.14.4. Rates of credit interest for a Currency Account may be tiered. These tiers, and the interest rate applicable to each tier, are set out in the Interest Rates Schedule for Commercial Clients, which is available on the Website, at any of our branches, or directly from us upon request. The funds will receive interest at the rate applicable to the Currency Account until funds are withdrawn. 2.14.5. If you have a Currency Account and the applicable credit interest rate on that Currency Account goes below zero, we may charge you interest on the credit balance in that Currency Account. 2.14.6. Where you wish to pay into a Currency Account in sterling (or in any other currency other than the denomination currency of the Currency Account) your attention is drawn to term 2.2.3. 2.14.7. Payments from, or payments into your Currency Account cannot be made by way of BACS or CHAPS or via Faster Payments. Where your Currency Account is able to make and receive electronic payments (for example, where your Currency Account is a Current Account) all such payments will be made and received via SWIFT or SEPA credit transfer. 2.14.8. All permitted withdrawals and Payment Instructions from Currency Accounts will be transacted in the currency in which your Currency Account is denominated. 2.14.9. SWIFT payments will be made in the currency of the Account that you are debiting (for example, where you issue a Payment Instruction to send euros to Spain, if you have a euro Current Account, this will be debited in euros from your euro Current Account). 2.14.10. Where a currency conversion is required for a SWIFT payment out of your Currency Account, you will receive a foreign exchange confirmation. This will inform you of the exchange rate used and, where required, any currency conversion charge taken for completing the transaction. 2.14.11. In the case of ATM withdrawals from a Currency Account in s...
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Currency Accounts. You may hold one or more currency accounts with us, which consists of an account number and other necessary information to accept payments in a given currency. These account details are a routing address for your E-Money Account. This means that payments sent to these currency accounts will be reconciled to your e-money balance with Ebury via your Assure FX login. Funds received through your currency accounts will be treated in exactly the same way as any other funds you hold with us (see Clause 13 of the Ebury Relationship Agreement). Before we provide you with your currency accounts, we may request additional information or documentation to comply with our obligations to our regulators or otherwise under Applicable Laws. You must provide us with this requested information within a reasonable timeframe. You are responsible for paying all taxes and related charges which you may be required to pay (in any jurisdiction) as a result of you receiving funds to your currency accounts. If you are unclear as to your obligations, you should seek independent advice from a tax professional.
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Currency Accounts. Approved users may establish and fund one or more Currency Accounts to facilitate transactions on ▇▇▇▇▇▇▇.▇▇▇. You are the owner of the balance of each of your Currency Accounts. ▇▇▇▇▇▇▇.▇▇▇ holds the balance of your Currency Accounts in segregated custodial accounts with authorized financial institutions. All funds held in a Currency Account are held in trust by ▇▇▇▇▇▇▇.▇▇▇ for the benefit of the user.
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Currency Accounts. Approved users may establish and fund one or more Currency Accounts to facilitate transactions on Cryptorao. You are the owner of the balance of each of your Currency Accounts. Cryptorao holds the balance of your Currency Accounts in segregated custodial accounts with authorized financial institutions. All funds held in a Currency Account are held in trust by Cryptorao for the benefit of the user.
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Currency Accounts. Approved users may establish and fund one or more Currency Accounts to facilitate transactions on Chbits. You are the owner of the balance of each of your Currency Accounts. Chbits holds the balance of your Currency Accounts in segregated custodial accounts with authorized financial institutions. All funds held in a Currency Account are heldin trust by Chbits for the benefit of the user.
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Related to Currency Accounts

  • Currency of account (a) Subject to paragraphs (b) and (c) below, dollars is the currency of account and payment for any sum due from an Obligor under any Finance Document. (b) Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the costs, expenses or Taxes are incurred. (c) Any amount expressed to be payable in a currency other than dollars shall be paid in that other currency.

  • Currency and Funds of Payment All Guarantors’ Obligations for payment will be paid in lawful currency of the United States of America and in immediately available funds, regardless of any law, regulation or decree now or hereafter in effect that might in any manner affect the Guaranteed Liabilities, or the rights of any Secured Party with respect thereto as against the Borrower or any other Loan Party, or cause or permit to be invoked any alteration in the time, amount or manner of payment by the Borrower or any other Loan Party of any or all of the Guaranteed Liabilities.

  • Currencies 46.1 All payments shall be made in Indian Rupees.

  • Currencies Currency Equivalents (a) At any time, any reference in the definition of the term “Alternative Currency” or in any other provision of this Agreement or any other Loan Document to the Currency of any particular nation shall mean the then lawful currency of such nation at such time whether or not the name of such Currency is the same as it was on the date of this Agreement or such other Loan Document, as the case may be. (b) The Agent shall determine the Spot Rates as of each Revaluation Date to be used for calculating the Dollar Equivalent of outstanding Revolving Credit Loans denominated in Alternative Currencies. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable Currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered hereunder or calculating covenants hereunder or except as otherwise provided herein, the applicable amount of any Currency (other than Dollars) for purposes of the Loan Documents shall be the Dollar Equivalent of such amount as so determined by the Agent. All financial statements delivered hereunder and covenants (including the respective components of such covenants) calculated hereunder by Borrower shall be calculated in Dollars using, for amounts denominated in currencies other than Dollars, the Spot Rate then in effect or such other rate as may be approved by Agent in its reasonable discretion; provided, however, that for any such financial statements or covenant calculations that require the determination of Net Operating Income, Net Income (or Loss), and/or EBITDA (each, an “Income Component”) of Borrower or any of its Subsidiaries or Unconsolidated Affiliates, any amounts comprising such Income Components that are denominated in currencies other than Dollars shall be converted to Dollars using the same exchange rates used by the Borrower for its financial statements filed (or to be filed) with the SEC for the applicable period. (c) For purposes of determining (i) whether the amount of any Loan, together with all other Loans and LC Exposure then outstanding, would exceed the Revolving Credit Commitments or would cause a violation of any covenants contained herein, (ii) the aggregate unutilized amount of the Revolving Credit Commitments, (iii) the outstanding aggregate principal amount of the Loans or the LC Exposure, and (iv) the LC Exposure in respect of any Letters of Credit denominated in an Alternative Currency, the outstanding principal amount of any Alternative Currency Loan or any LC Exposure relating to any Letter of Credit that is denominated in any Alternative Currency shall be deemed to be the Dollar Equivalent of the amount of the Alternative Currency of such Loan or such LC Exposure determined by Agent as of the applicable Revaluation Date. (d) For purposes of determining, in connection with the borrowing, converting, continuing or prepaying of a Loan hereunder, the termination of any Commitment hereunder or the issuance, amendment or extension of a Letter of Credit hereunder on any date, any amount (including, without limitation, any required minimum or multiple amount) is expressed in Dollars, but such Loan or Letter of Credit is denominated in an Alternative Currency, such amount shall be the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the nearest 1,000 units of such Alternative Currency), as determined by the Agent as of the applicable Revaluation Date.

  • Currency of Account and Payment U.S. dollars (the “Contractual Currency”) is the sole currency of account and payment for all sums payable by a party under or in connection with this Agreement, including damages.