Foreign Exchange Agreements Sample Clauses

Foreign Exchange Agreements. The term “Foreign Exchange Agreements” shall mean foreign exchange contracts or options to purchase and sell foreign currencies for spot and future delivery;
Sample 1
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Foreign Exchange Agreements. Although section 11(e)(8)(D)(vi) of the FDI Act, defining ‘‘swap agreements’’ which are to be included within the statutory definition of QFCs, refers to forward foreign exchange agreements, the statute does not explicitly mention spot or other short-term foreign exchange agreements. The statute, in relevant part, covers any agreement, including the terms and conditions incorporated by reference in any such agreement, which is a forward foreign exchange agreement or any other similar agreement. 12 U.S.C. 1821(e)(8)(D)(vi). While the FDIC believes that spot and other short-term foreign exchange agreements fall within the QFC definition of swap agreement even in the absence of FDIC regulatory action, the FDIC also believes that market participants would be best served by the certainty of an explicit rule providing that spot foreign exchange agreements are QFCs. ‘‘Spot’’ foreign exchange agreements, like forwards, do not settle immediately; spot agreements are typically outstanding for one or two days. As is the case with other QFCs, market participants tend to enter into multiple spot agreements for both long and short positions in many products with the same counterparty. As a result, market participants are also creating the same termination and netting agreements as are used with other QFCs. The Corporation is proposing a rule to recognize the inclusion of spot and other short-term foreign exchange agreements as QFCs. The language of the proposed rule would extend QFC treatment to short-dated transactions such as spots, tomorrow/next day and same day/tomorrow transactions, thus eliminating any concern that spot and other short-term foreign exchange agreements are not included within the definition of QFC.
Sample 1
Foreign Exchange Agreements. Subject to and upon the provisions of this Agreement, and as a part of the Revolving Credit Commitment, to cover the risks of currency fluctuations with respect to those Letters of Credit and Existing Letters of Credit which are drawable in a currency other than U.S. dollars, the Borrowers may, upon the prior approval of the Lender, enter into Foreign Exchange Agreements from time to time from the Closing Date until the Business Day preceding the Revolving Credit Termination Date. The Borrowers will not be entitled to obtain a Foreign Exchange Agreement hereunder unless (a) after giving effect to the request, the Borrowers would be in compliance with Section 2.1.12 (a) and (b), and (b) the sum of the aggregate face amount of the then outstanding Letters of Credit plus the aggregate of all Foreign Exchange Reserves then outstanding does not exceed Seven Million Dollars ($7,000,000). In addition, in no event shall the outstanding Foreign Exchange Reserves exceed $750,000.
Sample 1
Foreign Exchange Agreements. Subject to and upon the provisions of this Agreement, and as a part of the Revolving Credit Commitment, to cover the risks of currency fluctuations with respect to those Letters of Credit and Existing Letters of Credit which are drawable in a currency other than U.S. dollars, or to cover other risks of currency fluctuations in the ordinary course of the Borrowers' business, the Borrowers may, upon the prior approval of the Lender, enter into Foreign Exchange Agreements from time to time from the Closing Date until the Business Day preceding the Revolving Credit Termination Date. The Borrowers will not be entitled to obtain a Foreign Exchange Agreement hereunder unless (a) after giving effect to the request, the Borrowers would be in compliance with Section 2.1.1 9a) and (b), and (b) the sum of the aggregate of all Foreign Exchange Reserves then outstanding does not exceed Ten Million Dollars ($10,000,000). In addition, in no event shall the outstanding Foreign Exchange Reserves exceed $750,000. The Lender shall calculate the amount of Foreign Exchange Reserves in its sole discretion based upon the Lender's determination of the credit risk associated with each Foreign Exchange Agreement.
Sample 1

Related to Foreign Exchange Agreements

  • Foreign Exchange Transactions (l) Each Fund may appoint the Custodian as its agent in the execution of all currency exchange transactions. If requested, the Custodian agrees to provide exchange rate and U.S. Dollar information, in writing, or by other means agreeable to both parties, to the Funds.

  • Foreign Exchange PFPC Trust and/or sub-custodians may enter into or arrange foreign exchange transactions (at such rates as they may consider appropriate) in order to facilitate transactions under this Agreement, and such entities and/or their affiliates may receive compensation in connection with such foreign exchange transactions.

  • Third Party Foreign Exchange Transactions The Custodian shall process foreign exchange transactions (including without limitation contracts, futures, options, and options on futures), where any third party acts as principal counterparty to the Trust on the same basis, if any, that it performs duties as agent for the Trust with respect to any other of the Trust’s investments. Accordingly, the Custodian shall only be responsible for delivering or receiving currency on behalf of the Trust in respect of such contracts pursuant to Written Instructions. The Custodian shall not be responsible for the failure of any counterparty (including any Sub-custodian) in such agency transaction to perform its obligations thereunder. The Custodian (a) shall transmit cash and Written Instructions to and from the currency broker or banking institution with which a foreign exchange contract or option has been executed pursuant hereto, (b) may make free outgoing payments of cash in the form of Dollars or foreign currency without receiving confirmation of a foreign exchange contract or option or confirmation that the countervalue currency completing the foreign exchange contract has been delivered or received or that the option has been delivered or received, (c) may, in connection with cash payments made to third party currency broker/dealers for settlement of the Trust’s foreign exchange spot or forward transactions, foreign exchange swap transactions and similar foreign exchange transactions, process settlements using the banking facilities selected by Custodian from time to time according to such banking facilities standard terms, and (d) shall hold all confirmations, certificates and other documents and agreements received by the Custodian and evidencing or relating to such foreign exchange transactions in safekeeping. The Trust accepts full responsibility for its use of third-party foreign exchange dealers and for execution of said foreign exchange contracts and options and understands that the Trust shall be responsible for any and all costs and interest charges which may be incurred by the Trust or the Custodian as a result of the failure or delay of third parties to deliver foreign exchange.

  • ISDA Master Agreement Where the Investment Adviser permits the Local Manager under the Investment Guidelines to enter into derivative transactions, these may be of the type that may be governed by the ISDA Master Agreement. The ISDA Master Agreement is a standard agreement commonly used in the derivatives market which sets forth key provisions governing the contractual relationship between the parties to such agreement, including each of their rights, liabilities and obligations. If the Local Manager enters into derivative transactions on the Investment Adviser’s behalf, the Local Manager may also enter into a Credit Support Annex. The Credit Support Annex is an annex to the ISDA Master Agreement and is used to document bilateral credit support arrangements between parties for transactions governed by an ISDA Master Agreement. On each date on which a derivatives transaction is entered into, the Investment Adviser will be deemed to have given various representations and undertakings to each counterparty with whom the Local Manager enters into an ISDA Master Agreement on the Investment Adviser’s behalf. In certain circumstances, the Investment Adviser may be required to pay an additional amount or receive a payment from which an amount is required to be deducted or withheld, in each case in respect of any deduction or withholding for on account of any tax, or be required to pay any stamp tax levied or imposed in respect of the execution or performance of the ISDA Master Agreement. Markets and exchanges require that anyone trading in derivatives must advance collateral as security for initial and variation margin requirements. The Local Manager has been authorised to instruct the Investment Adviser’s custodian to advance cash or other collateral acceptable to the counterparty or broker to meet margin payments as required by the rules and regulations of any market or exchange on which derivatives are dealt by the Local Manager as the Investment Adviser’s agent. If, under the rules and regulations of any exchange or market, adverse price movements occur and margin calls are made and insufficient funds are available in the Portfolio to meet such margin calls, the Local Manager may request that the Investment Adviser make additional funds immediately available until assets can be realised to cover the related margin call. If the Investment Adviser fails to makes such funds available, the Investment Adviser’s positions may be closed out and liquidated, resulting in a loss to the Portfolio for which the Local Manager shall not be liable.

  • Master Agreement Where one of the Parties to the Agreement is domiciled in the United States, the Parties intend that the Agreement shall be a master agreement, as referred to in 11 U.S.C. Section 101(53B)(C) and 12 U.S.C. Section 1821(e)(8)(D)(vii).

  • Acquisition Agreements If the Equipment is subject to any Acquisition Agreement, Lessee, as part of this lease, transfers and assigns to Lessor all of its rights, but none of its obligations (except for Lessee's obligation to pay for the Equipment conditioned upon Lessee's acceptance in accordance with Paragraph 6), in and to the Acquisition Agreement, including but not limited to the right to take title to the Equipment. Lessee shall indemnify and hold Lessor harmless in accordance with Paragraph 19 from any liability resulting from any Acquisition Agreement as well as liabilities resulting from any Acquisition Agreement Lessor is required to enter into on behalf of Lessee or with Lessee for purposes of this lease.

  • Master Services Agreement This Agreement is a master agreement governing the relationship between the Parties solely with regard to State Street’s provision of Services to each BTC Recipient under the applicable Service Modules.

  • Exchange Agreement As a condition of the Holder’s receipt and acceptance of this Purchase Warrant, Xxxxxx agrees that, at any time prior to the complete exercise of this Purchase Warrant by Holder, if the Company and the Underwriter enter into an agreement (“Exchange Agreement”) pursuant to which they agree that all outstanding Purchase Warrants will be exchanged for securities or cash or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

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