FX Amount is defined in Section 2.1(c)(ii) hereof.
FX Amount shall equal the amount determined by multiplying (i) the aggregate amount, in United States Dollars, of FX Contracts between Borrowers and Bank remaining outstanding as of any date of determination by (ii) the applicable Foreign Exchange Reserve Percentage as of such date. The “Foreign Exchange Reserve Percentage” shall be a percentage as determined by Bank, in its sole discretion from time to time. The initial Foreign Exchange Reserve Percentage shall be three percent (3%).
FX Amount shall equal the amount determined by multiplying (A) the aggregate amount, in United States Dollars, of FX Contracts between Borrower and Lender remaining outstanding as of any date of determination by (B) the applicable Foreign Exchange Reserve Percentage as of such date. The “Foreign Exchange Reserve Percentage” shall be a percentage as determined by Lender, in its sole discretion from time to time. The initial Foreign Exchange Reserve Percentage shall be 10%. If at any time a Lender’s obligation to extend credit pursuant to the terms of this Agreement is terminated or otherwise ceases to exist, Borrower shall promptly secure in cash or provide on other terms reasonably acceptable to Lender all obligations under the Letter of Credit Sublimit or Foreign Exchange Sublimit.”
Examples of FX Amount in a sentence
The FX Amount shall at all times be equal to or less than the Foreign Exchange Sublimit.
The FX Amount shall at all times be equal to or less than the International Sublimit less the face amount of all outstanding Letters of Credit, and availability under the Revolving Line shall be reduced by the FX Amount.
A reserve (the “FX Reserve”) shall be established against availability under the Borrowing Base in the aggregate FX Amount in effect from time to time.
Each Lender shall advise the other Lenders and the Collateral Agent in writing promptly upon entering into an FX Contract with Borrower (with a copy to Borrower), specifying in such notice the FX Amount related to such Contract.
Notwithstanding the foregoing, the aggregate credit limit of Credit Card Services, the aggregate outstanding amount of Letters of Credit and the FX Amount shall not exceed the Maximum Sublimit Amount at any time.
More Definitions of FX Amount
FX Amount means the amount determined by multiplying (i) the aggregate amount, in United States Dollars, of FX Contracts between Borrower and Bank remaining outstanding as of any date of determination by (ii) the applicable Foreign Exchange Reserve Percentage as of such date.
FX Amount shall equal the amount determined by multiplying (i) the aggregate amount, in United States Dollars, of FX Contracts between Borrower and Bank remaining outstanding as of any date of determination by (ii) the applicable Foreign Exchange Reserve Percentage as of such date. The “Foreign Exchange Reserve Percentage” shall be a percentage as determined by Bank, in its sole discretion from time to time. If at any time the Revolving Facility is terminated or otherwise ceases to exist, Borrower shall immediately secure in cash all obligations under the Foreign Exchange Sublimit on terms acceptable to Bank.
FX Amount shall equal the amount determined by multiplying (A) the aggregate amount, in United States Dollars, of FX Contracts between Borrower and Bank remaining outstanding as of any date of determination by (B) the applicable Foreign Exchange Reserve Percentage as of such date. The “Foreign Exchange Reserve Percentage” shall be a percentage as determined by Bank, in its reasonable discretion from time to time. The initial Foreign Exchange Reserve Percentage shall be ten percent (10%). If at any time the Revolving Line is terminated or otherwise ceases to exist, Borrower shall immediately secure to Bank’s satisfaction its obligations under the Ancillary Services Sublimit, and, effective as of such date, the balance in any deposit accounts held by Bank and the certificates of deposit issued by Bank in Borrower’s name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates), shall automatically secure such obligations to the extent of the then outstanding obligations under the Ancillary Services Sublimit. Borrower authorizes Bank to hold such balances in pledge and to decline to WEST\291919990.7 honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the Ancillary Services Usage continues.
FX Amount is defined in Section 2.1(c)(ii). “FX Contracts” are defined in Section 2.1(c)(ii). “GAAP” means generally accepted accounting principles in the United States, as in effect from time to time. “Good Faith Deposit” is defined in Section 2.5(c). “Guarantor” is any Person providing a Guaranty in favor of Bank. “Guaranty” and “Guaranty Documents” are defined in Section 8.9. “Indebtedness” means all indebtedness of any kind, including (a) all indebtedness for borrowed money or the deferred purchase price of property or services, including reimbursement and other obligations with respect to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, (d) all Contingent Obligations with respect to Indebtedness described in clauses (a) through (c) of this definition and (e) all obligations arising under or in connection with the Ancillary Services Sublimit, if any. “Indemnified Person” is defined in Section 13.2(a). “Indemnified Tax” means Taxes imposed on or with respect to any payment made by or on account of any obligation of a Borrower to Bank under this Agreement, provided, however, that Indemnified Taxes shall not include any of the following Taxes imposed on or with respect to Bank (or any assignee) or required to be withheld or deducted from a payment to Bank (or any assignee): (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of Bank (or any assignee) being organized under the laws of, or having its principal office or, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) U.S. federal withholding Taxes imposed on amounts payable to or for the account of Bank (or any assignee, as applicable) with respect to an applicable interest under this Agreement pursuant to a law in effect on the date on which (i) Bank (or any assignee) acquires such interest in this Agreement or (ii) Bank (or any assignee) changes its lending office, (c) any withholding Taxes imposed under FATCA, and (d) any Taxes attributable to Bank’s (or any assignee’s, as applicable) failure to comply with Section 2.3(e). “Industrial JV” means Leostella LLC, a Delaware limited liability company. “Industrial JV Equity” means the capital stock or other equity interests of the Industrial JV. “Industrial J...
FX Amount means, as of any specific time, the sum of: (i) ten percent (10%) of the dollar amount of then outstanding Foreign Exchange Contracts having remaining terms of six months or less, (ii) fifteen percent (15%) of the dollar amount of then outstanding Foreign Exchange Contracts having remaining terms of more than six but less than or equal to twelve months, and (iii) twenty percent (20%) of the dollar amount of then outstanding Foreign Exchange Contracts having remaining terms of more than twelve months up to a maximum of twenty-four months.
FX Amount is a limitation on "Foreign Exchange Contracts" included in the "Revolving Commitment," and is one of the amounts included in the calculation of "Aggregate Outstandings." This footnote is included by way of illustration only and shall not alter or override the provisions of the Agreement. by, and material to the business operations or financial condition of such entity, are able to interpret and manipulate data on and involving all calendar dates correctly and without causing any abnormal ending scenario, including in relation to dates in and after the Year 2000.
FX Amount has the meaning set forth in Section 2(g)(ii) below.