Common use of Netting Provisions Clause in Contracts

Netting Provisions. i. Netting by Novation. Each foreign currency transaction made between Customer and AM UK, AM AS or any of their Affiliates will immediately, upon its being entered into, be netted with all then existing foreign currency transactions between Customer and AM UK, AM AS and their Affiliates for the same currencies so as to constitute a single foreign currency transaction.

Netting Provisions. i. i . Netting by Novation. Each foreign currency transaction made between Customer and AM UKCY, AM AS or any of their Affiliates will immediately, upon its being entered into, be netted with all then existing foreign currency transactions between Customer and AM UKCY, AM AS and their Affiliates for the same currencies so as to constitute a single foreign currency transaction.