FOREIGN EXCHANGE CONTRACTS Clause Samples
The 'Foreign Exchange Contracts' clause defines the terms and conditions under which parties may enter into agreements to buy or sell foreign currency at specified rates and dates. This clause typically outlines the procedures for executing such contracts, the currencies involved, settlement methods, and any applicable fees or obligations. By establishing clear rules for foreign exchange transactions, the clause helps manage currency risk and ensures both parties understand their rights and responsibilities when dealing with cross-border payments or currency conversions.
POPULAR SAMPLE Copied 11 times
FOREIGN EXCHANGE CONTRACTS. To execute and deliver foreign exchange contracts, either spot or forward, from time to time, in such amount as, in the judgment of the officer or officers herein authorized.
FOREIGN EXCHANGE CONTRACTS. (a) In accordance with the terms of this Agreement and subject to the limitations set forth below, Borrower may enter foreign exchange contracts (the "Exchange Contracts"), under which Silicon will sell to or purchase from Borrower foreign currency on a spot or future basis. The aggregate face amount of all outstanding Exchange Contracts from time to time shall not exceed the amount shown on the Schedule (the "Letter of Credit and Exchange Contract Sublimit"), and shall be reserved against Loans which would otherwise be available hereunder. Borrower may not request any Exchange Contracts if it is out of compliance with any provision of this Agreement. Except as otherwise agreed by Silicon, Exchange Contracts must provide for delivery of settlement on or before the 90th day after the Maturity Date, or if such day is not a Business Day, then on the next succeeding Business Day. The amount of Loans available shall be reduced in an amount equal to the following (the "Foreign Exchange Reserve") on any given day (the "Determination Date"): (i) on all outstanding Exchange Contracts on which delivery is to be effected or settlement allowed less than two Business Days after the Determination Date, 10% of the gross amount of the Exchange Contracts; plus (ii) on all outstanding Exchange Contracts on which delivery is to be effected or settlement allowed more than two Business Days after the Determination Date, 100% of the gross amount of the Exchange Contracts, less the amount debited by Silicon from ---- deposit accounts of Borrower with Silicon to cover such Exchange Contracts, which Borrower hereby authorizes. If Silicon takes a Foreign Exchange Reserve pursuant to clause (ii) of the foregoing sentence, such Foreign Exchange Reserve shall be deemed a Loan in like amount.
(b) Silicon may terminate the Exchange Contracts if (a) an Event of Default occurs under Sections 7.1(b), 7.1(i), 7.1(j) or 7.1(k) hereof or any other Event of Default has occurred and Silicon has accelerated Borrower's Obligations under this Agreement or (b) there is not sufficient availability under the Credit Limit and Borrower does not have available funds in its deposit account for the Foreign Exchange Reserve. If Silicon terminates the Exchange Contracts pursuant to this Section 1.6, Borrower will reimburse Silicon for all fees, costs and expenses reasonably incurred by Silicon in connection with the Exchange Contracts.
(c) Borrower may not permit the total of all Exchange Contracts on which...
FOREIGN EXCHANGE CONTRACTS. The Client authorizes CAL to enter into foreign exchange contracts necessary to facilitate the purchase of the Securities on or before the day when funds are required to be converted into other currencies for payment of such purchase at market rates and in accordance with CAL’s normal practice. The timing will be at CAL’s sole discretion.
FOREIGN EXCHANGE CONTRACTS. Enter into any foreign currency exchange contracts (other than foreign currency exchange contracts entered into for the sole purpose of hedging with respect to the purchase or sale by the Company or its Subsidiaries of inventory to be purchased or sold for payments in foreign currencies in the ordinary course of their respective businesses) pursuant to which the Company or its Subsidiaries may incur (i) obligations in connection with the contracts described on Schedule 8.13 and (ii) additional obligations in an amount not to exceed the dollar equivalent of $15,000,000 in the aggregate at any time outstanding.
FOREIGN EXCHANGE CONTRACTS. Enter into any foreign currency exchange contracts other than in the ordinary course of business.
FOREIGN EXCHANGE CONTRACTS. To execute and deliver foreign exchange contracts, either spot or forward, from time to time, in such amount as in the judgment of the undersigned party or parties is authorized.
FOREIGN EXCHANGE CONTRACTS. To request Bank to enter into foreign exchange contracts on its behalf.
FOREIGN EXCHANGE CONTRACTS. FX CONTRACTS
FOREIGN EXCHANGE CONTRACTS. 客戶授權華南香港在資金需要轉換為其他貨幣當日或之前訂立外匯合約以便購買證券，此等外匯合約按華南香港日常慣例並以市場匯率訂立。訂約時間由華南香港自行酌情決定。 The Client authorizes the Broker to enter into foreign exchange contracts necessary to facilitate the purchase of the Securities on or before the day when funds are required to be converted into other currencies for payment of such purchase at market rates and in accordance with the Broker’s normal practice. The timing will be at the Broker’s sole discretion.