Common use of Expiry Time Clause in Contracts

Expiry Time. The specific date and time when an FX option either gets exercised (if it’s in-the-money) or expires without value (if it’s out-of-the-money). The precise expiry time will be specified in the Transaction Confirmation. Facility: means any trading limit, settlement limit, Foreign Currency exposure limit, or facility that Argentex has expressly granted to Client. Fixing Date: the date that is specified by Argentex for calculating the Settlement Amount that is payable pursuant to an NDF. Foreign Exchange Contract: a legally binding transaction between the Client and Argentex providing for the purchase of, or option to purchase, an agreed amount in one currency by one party to such transaction in exchange for the sale by it of, or option to sell, an agreed amount in another currency to the other party to the transaction and includes a Forward Contract and an Option Contract.