Currency conversion on judgment debt. If a judgment, order or proof of debt for an amount in connection with this agreement is expressed in a currency other than that in which the amount is due under this agreement, then the Customer indemnifies UBS against: (a) any difference arising from converting the other currency if the Spot Rate of exchange for converting the other currency into the due currency available to UBS when UBS receives a payment in the other currency is less favourable to UBS than the rate of exchange used for the purpose of the judgment, order or acceptance of proof of debt; and (b) the costs, charges, expenses and Taxes of conversion. The Customer agrees to pay amounts due under this indemnity on demand from UBS.
Appears in 2 contracts
Sources: Prime Brokerage Agreement, Prime Brokerage Agreement