Currency Swaps Sample Clauses

A Currency Swaps clause establishes the terms under which two parties agree to exchange principal and interest payments in different currencies over a specified period. Typically, each party borrows funds in their own currency and then swaps both the principal and interest payments with the other party, often to take advantage of better borrowing rates or to hedge against currency risk. This clause is essential for managing exposure to foreign exchange fluctuations and for facilitating international financing arrangements.
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Currency Swaps. Contracts entered into by Borrower with the purpose and effect of fixing the rate of exchange between two currencies with respect to the amount of the payments to be made or received by Borrower or a Subsidiary in one of such currencies pursuant to an agreement, provided that (1) the term does not extend past the Maturity Date, (2) no such contract (other than a Lender Swap Contract) requires Borrower to put up money, assets, or other security against the event of its nonperformance prior to actual default by Borrower in performing its obligations thereunder, and (3) each such contract is with (i) a Lender or an Affiliate of a Lender or (ii) a counterparty who is unsecured who at the time the contract is entered into maintains a minimum debt rating of BBB or Baa2 as determined either by Standard & Poor’s Corporation or ▇▇▇▇▇’▇ Investors Service, Inc. or is otherwise acceptable to Agent.
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Currency Swaps. Swap Contracts entered into by Borrower or a Restricted Subsidiary with the purpose and effect of fixing the rate of exchange between two currencies with respect to the amount of the payments to be made or received by Borrower or a Restricted Subsidiary in one of such currencies pursuant to an agreement, provided that (1) the term does not extend past the Maturity Date, (2) no such contract (other than a Lender Swap Contract) requires Borrower to put up money, assets, or other security against the event of its nonperformance prior to actual default by Borrower in performing its obligations thereunder, (3) each such contract is with (i) a Lender or an Affiliate of a Lender or (ii) a counterparty who is unsecured who at the time the contract is entered into maintains a minimum debt rating of BBB or Baa2 as determined either by S&P Global Ratings or ▇▇▇▇▇’▇ Investors Service, Inc. and (4) such Swap Contract is otherwise acceptable to Agent.
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Currency Swaps. Contracts entered into by Borrower with the purpose and effect of fixing the rate of exchange between two currencies with respect to the amount of the payments to be made or received by Borrower or a Subsidiary in one of such currencies pursuant to an agreement, provided that (1) the term does not extend past the Maturity Date, (2) no such contract (other than a Lender Swap Contract) requires Borrower to put up money, assets, or other security against the event of its nonperformance prior to actual default by Borrower in performing its obligations thereunder, and (3) each such contract is with (i) a Lender or an Affiliate of a Lender or (ii) an unsecured counterparty who at the time of the contract maintains a minimum debt rating of BBB or Baa2 as determined either by Standard & Poor’s Corporation or ▇▇▇▇▇’▇ Investors Service, Inc. or is otherwise acceptable to Agent.
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Currency Swaps. ▪ Currency Swaps are essentially forward contracts that can be tailored for specific needs. 3 Phases. 1. Principal 2. Interest (Fixed/Floating)
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Currency Swaps. The simplest kind, a fixed-for-fixed currency swap, involves exchanging interest and principal payments in one currency for interest and principal payments in another currency. • Requires principal to be specified in each of the two currencies. Principal amounts are usually exchanged at the beginning and at the end of the swap • Usually the principal amounts are chosen to be equivalent using the exchange rate at the initiation of the swap (but can be quite different at the end of the life of the swap) • Illustration:
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Currency Swaps. (a) Subject to paragraph (b), if an Early Termination Date is designated in respect of a Currency Swap: (i) an amount with respect to that Early Termination Date and Currency Swap must be calculated in accordance with Section [6(e)(i)(3)] or Section [6(e)(ii)], as applicable, independently of any other Transactions (including any other Currency Swap) and notwithstanding that there are other Terminated Transactions in relation to that Early Termination Date; and (ii) that amount (and any interest on it) must be paid in accordance with Section [6(d)(ii)] independently of amounts due by or to the payer in respect of other Terminated Transactions (and without set-off against amounts due to the payer under this Agreement or otherwise). (b) Notwithstanding paragraph (a), any amount payable by or to a party in respect of an Early Termination Date being designated in relation to a Currency Swap may be set-off against any sum or obligation owing to or by that party in accordance with Part [5(25)]. Nothing in this Part [5(6)] affects the obligation of the parties under Section 6 in respect of Transactions which are not Currency Swaps.
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Related to Currency Swaps

  • Swaps No Borrower is a party to, nor will it be a party to, any swap agreement whereby such Borrower has agreed or will agree to swap interest rates or currencies unless same provides that damages upon termination following an event of default thereunder are payable on an unlimited “two-way basis” without regard to fault on the part of either party.

  • Foreign Currency Exchange Unless the Depositor shall otherwise direct, whenever funds are received by the Trustee in foreign currency, upon the receipt thereof or, if such funds are to be received in respect of a sale of Securities, concurrently with the contract of the sale for the Security (in the latter case the foreign exchange contract to have a settlement date coincident with the relevant contract of sale for the Security), the Trustee shall enter into a foreign exchange contract for the conversion of such funds to U.S. dollars pursuant to the instruction of the Depositor. The Trustee shall have no liability for any loss or depreciation resulting from action taken pursuant to such instruction." BB. Article IV of the Standard Terms and Conditions of Trust is hereby replaced with the following:

  • Currency Exchange All payments under this Agreement shall be payable, in full, in Dollars, regardless of the country(ies) in which sales are made. For the purposes of computing Net Sales of Licensed Products that are sold in a currency other than Dollars, such currency shall be converted into Dollars as calculated at the rate of exchange for the pertinent quarter or year to date, as the case may be, as used by Celgene in producing its quarterly and annual accounts, as confirmed by their respective auditors.

  • Currency and amount (a) The currency specified in a Utilisation Request must be dollars. (b) The amount of the proposed Loan must be an amount which is not more than the Available Facility and which is a minimum of ten million dollars ($10,000,000) or, if less, the Available Facility.

  • Foreign Currency Transactions If the Depositor provides instructions to the Financial Institution on an Account that is denominated in a currency other than the currency of the Account, a conversion of currency may be required. In all such Transactions and at any time a conversion of currency is made, the Financial Institution may act as principal with the Depositor in converting the currency at rates established or determined by the Financial Institution, affiliated parties, or parties with whom the Financial Institution contracts. The Financial Institution, its affiliates, and contractors may earn revenue and commissions, in addition to applicable service charges, based on the difference between the applicable bid and ask rates for the currency and the rate at which the rate is offset in the market.