INTEREST CHARGES ON OPEN MARGIN FX POSITIONS Clause Samples

INTEREST CHARGES ON OPEN MARGIN FX POSITIONS. 20.1 Where an Order for a Margin FX contract is held overnight, the Order is subject to a Swap Charge or Swap Credit (unless the account is a Swap Free Account) determined by VGP in accordance with this clause: (a) if the Client is the Long Party and the Bought Swap Rate is higher than the Sell SwapRate, VGP must pay you interest on the Open Position of any Orders at the rate that is the Bought Swap Rate minus the Sell Swap Rate; if the Client is the Long Party and the Bought Swap Rate is less than the Sell Swap Rate, the Client must pay VGP interest on the Open Position of any Orders at the rate that is the Bought Swap Rate minus the Sell Swap Rate; (b) if the Client is the Short Party and the Sell Swap Rate is higher than the Bought Swap Rate, VGP must pay the Client interest on the Open Position of any Orders at the rate that is the Bought Swap Rate minus the Sell Swap Rate; and (c) if the Client is the Short Party and the Sell Swap Rate is lower than the Bought Swap Rate, the Client must pay VGP interest on the Open Position of any Orders at the rate that is the Bought Swap Rate minus the Sell Swap Rate. 20.2 Where an Order for a Margin FX contract is held at the Close of Trade on a Wednesday, the Swap Charge or Swap Credit is adjusted to reflect interest rate changes in the Currency Pair until the following Monday.
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INTEREST CHARGES ON OPEN MARGIN FX POSITIONS. Where an Order for a Margin FX contract is held overnight, the Order is subject to a Swap Charge or Swap Credit determined by Elite Strategies Corporation Pty Limited in accordance with this clause: (i) if the Client is the Long Party and the Bought Swap Rate is higher than the Sell Swap Rate, Elite Strategies Corporation Pty Limited must pay you interest on the Open Position of any Orders at the rate that is the Bought Swap Rate minus the Sell Swap Rate;
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Related to INTEREST CHARGES ON OPEN MARGIN FX POSITIONS

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for any period of four consecutive fiscal quarters ending after the Effective Date, to be less than 4.0 to 1.0.

  • Interest Charges You agree to pay interest at the rate(s) disclosed to you at the time you open your account and as may be changed from time to time in accordance with applicable law. Average Daily Balance including new transactions: Interest Charges will accrue on your average daily balance outstanding during the month. To get the average daily balance, we take the beginning balance each day, add any new purchases, cash advances, balance transfers or other advances, and subtract any payments, unpaid interest charges, and unpaid late charges. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide that by the number of days in the billing cycle. We then multiply that by the periodic rate corresponding to the Annual Percentage Rate on your account. If you have different rates for purchases, cash advances or balance transfers, separate average daily balances for each will be calculated and the appropriate periodic rate is then applied to each.

  • Interest Expense For any period, without duplication, (a) total interest expense incurred (both expensed and capitalized) of the Borrower, the Guarantors and their respective Subsidiaries on funded debt, including the portion of rents payable under a Capitalized Lease allocable to interest expense in accordance with GAAP (but excluding capitalized interest funded under a construction loan interest reserve account), determined on a consolidated basis in accordance with GAAP for such period, plus (b) the Borrower’s, the Guarantors’ and their respective Subsidiaries’ Equity Percentage of Interest Expense of their Unconsolidated Affiliates for such period. Interest Expense shall not include Preferred Distributions or interest on Trust Preferred Equity.

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Consolidated Senior Leverage Ratio Permit the Consolidated Senior Total Leverage Ratio as of the end of each of the Fiscal Quarters ending on the dates set forth for the period of four Fiscal Quarters ending on such date below to be greater than the ratio set forth below opposite such period: March 31, 2008 through December 31, 2008 3.50 to 1.00 March 31, 2009 through December 31, 2009 3.25 to 1.00 March 31, 2010 through December 31, 2010 3.00 to 1.00 March 31, 2011 through December 31, 2011 2.50 to 1.00 March 31, 2012 through December 31, 2013 2.25 to 1.00