Foreign Currency Accounts Clause Samples

Foreign Currency Accounts. The provisions of this Section shall apply to any account which will hold a currency denominated in any currency other than United States Dollars (USD) (each such currency referred to as a “Foreign Currency” and each such account referred to as a “Foreign Currency Account”). Each Foreign Currency Account shall be established, and the Foreign Currency or Foreign Currencies to use in any specific transaction shall be determined by me. Whether made in cash, by wire transfer or by other means, any withdrawal, payment or transfer from any Foreign Currency Account will be made in the Foreign Currency designated by me for such transaction, and the Foreign Currency Account shall be debited in such Foreign Currency, including any applicable fees, as a result of any such withdrawal, payment or transfer. Notwithstanding any other provisions of this agreement, no withdrawal, payment or transfer from any Foreign Currency Account may be made by means of a check drawn against such account. I understand should RBC CM accept any instructions given by me or any authorized party for your Foreign Currency Account in a currency other than USD, I must either have a Foreign Currency Account containing the specified Foreign Currency with a sufficient balance or RBC CM shall proceed to debit your Foreign Currency Account for the USD equivalent of the amount of Foreign Currency to be paid at the RBC CM prevailing rate of exchange, whether such exchange is from USD or a different Foreign Currency. I further agree that the actual execution of the instructions may be reasonably delayed by you or subject to the timing required for settlement of the foreign exchange transaction (or both), as appropriate, in order to complete the conversion of currency, if necessary, and you shall not be liable to me or any other party for any costs, expenses, interest or claims arising from such delays, including any interest on amounts to be transferred pursuant to such Instructions. Such timing can vary depending on the currency involved, time zones, local processing turnaround and other factors. The profit or loss in the currency conversion of any foreign trade will be affected by fluctuations in currency rates where there is a need to convert from one currency to another. I further understand and agree that you shall have the right to convert foreign currency or foreign securities to USD in order to satisfy any obligation I may have outstanding (e.g. margin calls, foreign tax withholding, etc.) with...

Foreign Currency Accounts. Deposit into Accounts denominated in currencies other than Saudi Riyals shall be withdrawn in Saudi Riyals at the Bank's buying rate for the respective currencies applicable at the time of withdrawal. Withdrawals may be made in the currency of the Account, subject زﻮﺠﻳ ﻦﻠﻓ ،رﺪﺼﺗ تﻻﺎﻛو وأ/و ﺾـــﻳوﺎﻔﺗ ﺔﻳأ نﺄﺑ بﺎـــﺴﺤﻟا ụﺣﺎﺻ ﻖﻓاﻮﻳو ﺮـــﻘﻳ .د ﻰﻠﻋأ ﺔﻄﻠﺳ وأ/و بﺎـــﺴﺤﻟا ةرادإ ﺔﻴﺣﻼﺻ ﺖﺤﻨﻣ ﻲﺘﻟا ﺔﻄﻠـــﺴﻟا ﺮﺒﻋ ﻻإ ﺎﻫؤﺎﻐﻟإ ﺖﻤﺗ ﻢﺛ ﻦـــﻣو بﺎـــﺴﺤﻟا ﻰﻠﻋ ﻦﻴﺿﻮﻔﻤﻟا ﻦﻣ ﺎـــﻳأ ءﺎﻐﻟإ ﻢﺗ ﺎﻣ لﺎـــﺣ ﻲـــﻓو ﺎـــﻬﻨﻣ بﺎـــﺴﺤﻟا ụﺣﺎﺻ مﺰﺘﻠﻴﻓ بﺎـــﺴﺤﻟا ụﺣﺎﺻ ﻞـــﺒﻗ ﻦﻣ بﺎـــﺴﺤﻟا ﻞﻴﻐـــﺸﺘﻟ ﻪـــﺗدﺎﻋإ ﻞﻴﻛﻮﻟا وا ضﻮﻔﻤﻟا ﻦﻴﻴﻌﺗ ةدﺎﻋإ ﺦﻳرﺎﺘﺑ ﺎﺧرﺆﻣ تﺎﻧﺎﻴﺒﻟا ﺚـــﻳﺪﺤﺘﻟ جذﻮﻤﻧ ﻢـــﻳﺪﻘﺘﺑ ﻢﻘﻳ ﻢﻟﺎﻣ ﺾـــﻳﻮﻔﺘﻟا وا ﺔﻟﺎﻛﻮﻟا لﻮـــﺒﻗ ﻦﻋ عﺎﻨﺘﻣﻹا ﻚﻨﺒﻠﻟ ﻖـــﺤﻳو ﻪـــﻟ ﺎـــﻘﺣﻻ وأ ﻚﻟذ ﻚﻨﺒﻟا ụـــﻠﻄﺗ ﺎـــﻣ لﺎﺣ ﻲـــﻓ بﺎـــﺴﺤﻟا تﺎـــﻧﺎﻴﺑ ﺚـــﻳﺪﺤﺘﺑ بﺎـــﺴﺤﻟا ụـــﺣﺎﺻ ةدراﻮﻟا تﺎﻧﺎﻴﺒﻟا وا تﺎـــﻣﻮﻠﻌﻤﻟا ﻲﻓ ﺔﺑرﺎﻀﺘﻣ تاﺪﻨﺘـــﺴﻣ دورو ﺮﺒﺘﻌﻳو ،ءاﺮـــﺟﻹا ụﺣﺎﺻ ﻦﻣ ضاﺮـــﺘﻋإ نود بﺎـــﺴﺤﻟا ﻰﻠﻋ ﻞﻣﺎﻌﺘﻟا فﺎﻘﻳﻹ ﺎـــﻴﻓﺎﻛ ﺎﻏﻮـــﺴﻣ ﺎـــﻬﻴﻓ بﺎﺒـــﺳأ ﺔﻨﻤﻀﺘﻣ بﺎـــﺴﺤﻟا ﺚﻳﺪﺤﺗ تاﺪﻨﺘـــﺴﻣ ﻚﻨﺒﻟا ﻰﻟإ دﺮﻳ نأ ﻰﺘﺣ بﺎـــﺴﺤﻟا .ﻚﻨﺒﻟا ﻰﻟإ ﺔﻀﻗﺎﻨﺘﻤﻟا تاﺪﻨﺘـــﺴﻤﻟا دورو عﻮﻧ ﻦﻋ ﺮﻈﻨﻟا ﺾـــﻐﺑ بﺎـــﺴﺤﻟا ụﺣﺎﺼﺑ ﺔﺻﺎﺨﻟا تﺎﺑﺎـــﺴﺤﻟا ﻊﻴﻤﺟ ﺮـــﺒﺘﻌﺗ فﻮـــﺳ ﺞﻣﺪﺑ مﻮﻘﻳ نأ ﻖﺒﺴﻣ رﺎﻌـــﺷا نوﺪﺑو ﻚﻨﺒﻠﻟ ﻖﺤﻳو .ﺪﺣاو بﺎـــﺴﺣ ﺔﺑﺎﺜﻤﺑ ﺎﻬﺘﻠﻤﻋ ﻞﻳﻮﺤﺗ وأ ماﺪﺨﺘـــﺳاو بﺎـــﺴﺤﻟا ụﺣﺎﺻ تﺎﻣاﺰﺘﻟا ﻊﻣ تﺎﺑﺎـــﺴﺤﻟا ﻊﻴﻤﺟ ﺪـــﻴﺣﻮﺗ وأ ﻦﻣ ﻖﺤﺘـــﺴﺗ ىﺮﺧأ ﻎﻟﺎﺒﻣ ﺔـــﻳأ وأ تﺎﺑﺎـــﺴﺤﻟا ﻚﻠﺗ ﻦﻣ يأ ﻲــــﻓ ﺔﻨﺋاد ﻎـــﻟﺎﺒﻣ ﺔـــﻳأ تﺎﺑﺎﺴﺣ ﺔﻳأ ﻰﻠﻋ ﻖﺤﺘﺴﺗ ﻚﻨﺒﻠﻟ مﻮـــﺳر وأ ﺔﻴﻧﻮﻳﺪﻣ ﺔﻳأ ﺪﻳﺪـــﺴﺗ ﻞﺟأ ﻦﻣ ﻚﻨﺒﻟا .ﺔﺋرﺎﻃ وأ ﺔﻴﻠﻌﻓ ﺔﻴﻧﻮﻳﺪﻤﻟا ﻚﻠﺗ ﺖﻧﺎﻛ ءاﻮـــﺳ ىﺮﺧأ ﺔﻠﻣﺎﻌﻣ ﺔﻳﻷ ﺔﺠﻴﺘﻧ وأ ىﺮﺧأ .تﻼﻣﺎﻌﻤﻟا ﻚﻠﺗ ﻞﺜﻣ ﻰﻠﻋ ﺔﻳدﺎﻴﺘﻋﻻا مﻮـــﺳﺮﻟا عﺎﻄﺘﻗا ﺪﻌﺑ بﺎـــﺴﺤﻟا to the deduction of the Bank's usual charges for such transactions.

Foreign Currency Accounts. The Customer may open Accounts in foreign currencies upon the approval of the Bank. The Customer understands that there is risk associated with any Account denominated in a foreign currency, which for the purposes of these Terms and Conditions means any currency other than Oman Rial. Accordingly, the Customer accepts that the Customer is solely responsible for all such risks and any costs, charges and expenses, howsoever arising (including, without limitation, from any international or domestic legal or regulatory restrictions, as a result of exchange rate fluctuations or as a result of converting one currency into another) in respect of any Account denominated in a foreign currency. Conversion from one currency to another will be at the spot rate of exchange as determined by the Bank, in its sole discretion, from time to time. The Bank in its sole discretion may permit, but is not obliged to permit, Deposits in a foreign currency and Withdrawals in a foreign currency from an Account denominated in a foreign currency, subject to such charges as the Bank determines from time to time or in respect of a particular transaction. The Bank will accept Oman Rial for credit to an Account denominated in a foreign currency subject to first converting such Oman Rial into the relevant currency and will permit withdrawals in cash in Oman Rial from an Account denominated in a foreign currency subject to sufficient funds being available in the relevant Account and subject to first converting the funds denominated in the foreign currency into Oman Rial.

Foreign Currency Accounts. The Customer may open Accounts in foreign currencies upon the approval of the Bank. The Customer understands that there is risk associated with any Account denominated in a foreign currency, which for the purposes of these Terms and Conditions means any currency other than UAE Dirham. Accordingly, the Customer accepts that the Customer is solely responsible for all such risks and any costs, charges and expenses, howsoever arising (including, without limitation, from any international or domestic legal or regulatory restrictions, as a result of exchange rate fluctuations or as a result of converting one currency into another) in respect of any Account denominated in a foreign currency. The Bank will accept UAE Dirham for credit to an Account denominat- ed in a foreign currency subject to first converting such UAE Dirham into the relevant currency and will permit withdrawals in cash in UAE Dirham from an Account denominated in a foreign currency subject to sufficient funds being available in the relevant Account and subject to first converting the funds denominated in the foreign currency into UAE Dirham.

Foreign Currency Accounts. Following approval of the final financing plan under Clause 10.1 and in accordance with the Approved Financing Plan, the Central Bank shall grant Refiner authority to maintain one or more foreign currency accounts in US Dollars or any other fully convertible currency. The Central Bank shall give authority under the Foreign Exchange Regulations for the opening of such accounts not later than the time when the second milestone in Clause 4.3 is reached. Refiner may retain in its foreign currency accounts: (a) funds received or transferred to it in foreign currency as part of the equity investment of Developer or Refiner's foreign currency borrowings, in accordance with the Approved Financing Plan; and (b) proceeds of its sale of Products to purchasers outside Papua New Guinea, to the extent necessary to enable Refiner to draw on the accounts during such period as may be approved by the Central Bank at the time the Approved Financing Plan is approved, in respect of: (c) repayments of, or payments of interest, service charges, fees and expenses on or related to, its foreign currency borrowings; (d) commitments in foreign currency for the supply of goods (including without limitation consumables and imported Crude Oil) and the Services of foreign employees and consultants (including without limitation under operations and maintenance contracts and administrative and commercial services contracts); and (e) dividends approved by the Central Bank in accordance with Clause 10.5; and (f) any other payment approved by the Central Bank. Furthermore, if and to the extent that the amounts otherwise retained in its foreign currency accounts under this Clause 10.6 are not sufficient at any time to meet its commitments referred to in paragraph (d) above plus the next two periodic payments of principal plus interest on Refiner's foreign currency borrowings referred to in paragraph (c) above, Refiner may request authority to convert the proceeds of its sale of Products to purchasers in Papua New Guinea into foreign currency and pay those proceeds into its foreign currency accounts and the Central Bank shall deal with such requests expeditiously. Refiner shall provide to the Central Bank the following reports in respect of each foreign currency account authorised by the Central Bank in relation to this Agreement: (g) a monthly report detailing the flow of funds into and out of the account; (h) a quarterly forecast report on foreign currency transactions; (i) a six monthly repo...

Foreign Currency Accounts. 11.1 Foreign currency accounts/deposits will be opened and maintained subject to local laws and regulations in force from time to time, including Foreign Exchange Control Regulations and the directives of the Central Bank of UAE and the relevant Laws of Ajman. 11.2 Profit on foreign currency Savings Accounts or Investment Deposit Account and profit on Term Deposits will be paid on actual realization of profit on such investments and on the basis set out in the Banking Service Guide. No profit will be payable on foreign currency Current Accounts. 11.3 Withdrawal from a foreign currency account shall be subject to the availability of the particular foreign currency with Ajman Bank and the prevailing directives of the Central Bank of UAE as well as the Laws of UAE. 11.4 Withdrawal from a foreign currency account shall be made only by cheques or by drafts of Ajman Bank or by telegraphic transfers in the currency in which such foreign currency account is maintained by the Account Holder, at the request of the Account Holder in writing. The head 11.5 Ajman Bank may deposit, on Mudaraba or Wakala basis, the funds in its control with such depository or depositories as Ajman Bank may, with the approval of its Internal Sharia Supervision Committee (ISSC), select. For avoidance of doubt, the funds may be deposited in the common pool of Ajman Bank. 11.6 The Account Holder acknowledges that Ajman Bank shall not be liable for any currency exchange loss resulting from any transfer/ movement of the balances from foreign currency to the Account in another currency.

Foreign Currency Accounts. All transactions relating to the Accounts opened and to be opened in foreign currencies are executed in the currency in which the Account is/has been opened without prejudice to the provisions of applicable laws. However, if the Bank and Customer reach to a mutual agreement upon the Customer’s demand, the transactions under the Accounts may be executed in any currency other than the foreign currency in which the Account has been opened. The foreign exchange rates applied by the Bank on the date of execution of the transaction are taken as the basis. In case of any and all transactions involving arbitrage, foreign exchange buying or selling or any other similar foreign exchange operations, the loss and damages that may result from exchange rates shall be solely on the Customer’s account. The Bank is entitled to collect commission and charges in such transactions. automatically used or invested in investment instruments deemed suitable by the Bank and mutually agreed with the customer providing that such amount shall not fall below the limit to be specified by the Bank. The Customer may close its Automatic Investment Account by notifying the related request to the Bank at any time desired.

Foreign Currency Accounts. (a) Subject to the Company making such applications required under applicable Laws, including obtaining the approval of the Reserve Bank and registering with the Reserve Bank the facility agreements between the Project Lenders and the Company, the Company may: (i) remit Foreign Currency into Malawi in accordance with the Exchange Control Act; (ii) repatriate Foreign Currency from Malawi in accordance with the Exchange Control Act; (iii) Subject to clauses 24.1(b), 24.1(c) and 24.1(d), and full disclosure to the Government of all documents entered into with the Project Lenders and full disclosure to the Reserve Bank of account details, maintain one or more Foreign Currency accounts outside of Malawi to meet the Company’s Foreign Currency obligations to the initial Project Lenders for a period ending on the later of seven (7) years after the establishment of the relevant account or the date on which the Company has discharged all obligations in favour of the initial Project Lenders (excluding, for the avoidance of doubt, any refinancing); and (iv) retain a Foreign Currency account within Malawi which has been established, for the Project, and maintain in such account amounts arising from all verifiable sources associated with the Business, including the following: (A) that portion of the sale proceeds which are not permitted to be held in the account referred to in clause 24.1(a)(iii); (B) payments made by insurers or reinsurers not resident in Malawi under contracts of insurance in the Company's favour; (C) Foreign Currency proceeds of any disposal of capital assets; (D) foreign loan proceeds and intercompany loans; (E) proceeds of the issue of share capital (payable by non-residents of Malawi); (F) Foreign Currency proceeds of swaps and ▇▇▇▇▇▇ (payable by non- residents of Malawi); and (G) maintain one or more Foreign Currency accounts within Malawi to: (I) make Foreign Currency payments due to foreign suppliers for the supply of goods (including without limitation equipment, spare parts and materials) and services to the Company; (II) repatriate profits and capital (in Foreign Currency or otherwise) from Malawi (which right shall be extended to the Shareholders in respect of the proceeds of the disposal or liquidation of all or part of the assets of the Company); (III) if permitted by applicable Law, pay to Expatriate Employees of the Company whose contracts of employment specify that the whole or any part of their salary or any other entitlement be paid ...

Foreign Currency Accounts. (a) Without prejudice to any other provisions of this Agreement, all deposits into and withdrawals from any foreign currency Account must be in the currencies acceptable to the Bank and, where the conversion of currencies is required, such conversion is subject to the applicable rate of exchange publicized by the Bank in accordance with the law at the time of the deposit or withdrawal. (b) The Bank may refuse to accept or effect any transaction on any foreign currency Account in a currency other than the currency in which such Account is denominated or in a currency which is not acceptable to the Bank. (c) The Bank shall not be responsible or become liable for any diminution in the amount or the value of any amount credited to a foreign currency Account due to taxes, imposts or depreciation, nor for the unavailability of any currency due to restrictions on convertibility or remittance, or other similar causes beyond the Bank’s control. (d) The Customer shall comply with all the law (including the law of foreign exchange control) applicable to its foreign currency Accounts. The Customer shall forthwith on demand provide the Bank with all information and documents to comply with the foregoing law in relation to the foreign currency Accounts of the Customer or the transactions contemplated therein.