Common use of FX TRANSACTIONS Clause in Contracts

FX TRANSACTIONS. 6.1 SHKFX may, in carrying out Client’s instructions, contract or otherwise deal with or through any broker for the purchase, sale of, or otherwise dealing in, FX, or any person associated with SHKFX in any manner, on such terms as SHKFX may in its discretion determine. 6.2 Unless SHKFX has agreed otherwise pursuant to Clause 6.5 herein, Client shall not take delivery of FX on the Value Date pursuant to any FX Contract (other than a Physically Settled FX Contract) and Client shall be deemed to have agreed with SHKFX to extend the term of such FX Contract concerned beyond the Value Date until the happening of any of the following events: 6.2.1 SHKFX has received instruction from Client to take delivery of FX pursuant to the outstanding FX Contract concerned in the manner as set out in Clause 6.5 herein; 6.2.2 SHKFX has received instruction from Client to Close Out the outstanding FX Contract concerned; or 6.2.3 SHKFX exercises its rights under Clause 11 herein to Close Out the outstanding FX Contract concerned. 6.3 In the event that the date on which the FX agreed to be purchased or sold pursuant to a FX Contract is deferred, the FX Contract will be subject to a computation of the interest rate differentials which are charged or paid by SHKFX on a daily basis of being long or short, one currency against another until the FX is delivered or the Value Date of the Closing Out of the FX Contract. 6.4 6.4.1 In the event of a profit for the Account resulting from FX Transactions carried out by SHKFX with Client, SHKFX shall credit such amount of profit in the Account.