Common use of Currency Devaluation Clause in Contracts

Currency Devaluation. If any judgment or arbitration award obtained in the United States is sought to be recognized and enforced outside the United States in local currency, and the currency of the country in which the judgment or award is sought to be enforced is devalued so as to cause reduction of the value of the original judgment or award given, the party in whose favor the judgment or award was rendered shall be entitled to recover such additional amount so as to provide a recovery to that party equal to what the party would have received if the currency devaluation had not occurred.

Currency Devaluation. If any judgment or arbitration award obtained in the United States dollars is sought to be recognized and enforced outside the United States in local currency, and the currency of the country in which the judgment or award is sought to be enforced is devalued so as to cause reduction of the value of the original judgment or award givengiven in United States dollars, the party in whose favor the judgment or award was rendered shall be entitled to recover such additional amount so as to provide a recovery to that party equal to what the party would have received if the currency devaluation had not occurred.