Foreign Exchange Facility Clause Samples

Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make available to Borrower a facility (the "Foreign Exchange Facility") under which Bank, from time to time up to and including November 5, 2001, will enter into foreign exchange contracts for the account of Borrower for the purchase and/or sale by Borrower in United States dollars or Danish Krone; provided however, that the maximum amount of all outstanding foreign exchange contracts shall not at any time exceed an aggregate of Seven Hundred Fifty Thousand United States Dollars (US$750,000.00). No foreign exchange contract shall be executed for a term in excess of twelve (12) months or for a term which extends beyond November 5, 2001. Borrower shall have a "Delivery Limit" under the Foreign Exchange Facility not to exceed at any time the aggregate principal amount of Two Hundred Seventy-five Thousand United States Dollars (US$275,000.00), which Delivery Limit reflects the maximum principal amount of Borrower's foreign exchange contracts which may mature during any one (1) day period. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement, substantially in the form of Exhibit D attached hereto ("Foreign Exchange Agreement"), all terms of which are incorporated herein by this reference.

Foreign Exchange Facility. The COMPANY acknowledges that the BANK may process the COMPANY’s FX Transaction in accordance with the BANK’s policies and procedures and, for this purpose, the COMPANY authorizes the BANK, in its absolute discretion, to avail itself of the services of any Correspondent Banks and agents for data processing, collection and other services related to the FX Transactions. The BANK shall not be liable for the actions of such Correspondent ▇▇▇▇▇ provided that in choosing a Correspondent Bank, the BANK did not act with gross negligence or willful misconduct.

Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Borrower may, at its option from time to time, enter into foreign exchange forward contracts (collectively, the “Foreign Exchange Facility”) with Bank, under which Borrower commits to purchase from or sell to Bank a set amount of foreign currency more than one Business Day after the contract date (each such contract a “FX Forward Contract”). Bank will subtract 10%, or such greater amount as determined by Bank, of each outstanding FX Forward Contract from a foreign exchange sublimit of $750,000 (the “FX Reserve”). The total FX Forward Contracts at any one time may not exceed 10 times the amount of the FX Reserve. Ten percent (10%) of the amount of each outstanding FX Forward Contract shall be treated as Advances under Section 2.1(a) and shall reduce, so long as outstanding, on a dollar-for-dollar basis, the amount available for other Advances. Bank may terminate the FX Forward Contracts if an Event of Default occurs. Each FX Forward Contract shall be subject to additional terms set forth in the applicable FX Forward Contract or other agreements executed in connection with the Foreign Exchange Facility.

Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make available to Borrower a facility (the "Foreign Exchange Facility") under which Bank, from time to time up to and including June 1, 2013, will enter into foreign exchange contracts for the account of Borrower for the purchase and/or sale by Borrower in United States dollars of Japanese Yen, Euro, Pound Sterling, Korean Won, and other currencies as the parties shall agree; provided however, that the Maximum Potential Exposure of all outstanding foreign exchange contracts shall not at any time exceed an aggregate of Ten Million United States Dollars (US$10,000,000.00). No foreign exchange contract shall be executed for a term in excess of twelve (12) months or for a term which extends beyond the maturity of the Line of Credit and all foreign exchange contracts shall be “payment versus delivery”, unless otherwise agreed by the parties. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement dated as of January 24, 2006 (as the same may be amended from time to time, "Foreign Exchange Agreement"), all terms of which are incorporated herein by this reference. “Maximum Potential Exposure” means and is calculated as of the date that Borrower executes any foreign exchange contract, the amount of Borrower’s maximum potential liability to Bank under (i) all foreign exchange Transactions outstanding at such time, and (ii) as applicable, all foreign exchange Transactions requested by Borrower at such time, as determined by Bank in its sole discretion. For clarity, the parties acknowledge that Borrower’s Maximum Potential Exposure shall be reassessed only upon execution of new foreign exchange contracts.

Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make available to Borrower a facility (the "Foreign Exchange Facility") under which Bank, from time to time up to and including May 1, 2001, will enter into foreign exchange contracts for the account of Borrower for the purchase and/or sale by Borrower in United States dollars of foreign currencies designated by Borrower and acceptable to Bank for the benefit of SMI, Jolt and Tech; provided however, that the maximum amount of all outstanding foreign exchange contracts shall not at any time exceed an aggregate of One Million United States Dollars (US$1,000,000.00). No foreign exchange contract shall be executed for a term in excess of twelve (12) months or for a term which extends beyond the maturity date of the Line of Credit. Borrower shall have a "Delivery Limit" under the Foreign Exchange Facility not to exceed at any time the aggregate principal amount of Two Hundred Fifty Thousand United States Dollars (US$250,000.00), which Delivery Limit reflects the maximum principal amount of Borrower's foreign exchange contracts which may mature during any one (1) day period. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement, substantially in the form of Exhibit C attached hereto ("Foreign Exchange Agreement"), all terms of which are incorporated herein by this reference.

Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make available to Borrower a facility {the “Foreign Exchange Facility”) under which Bank, from time to time up to and including May 1, 2005 will enter into foreign exchange contracts for the account of Borrower for the purchase and/or sale by Borrower in United States dollars of foreign currencies designated by Borrower; provided however, that the contract limit shall not at any time exceed an aggregate of ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (US$1,700,000.00). No foreign exchange contract shall be executed for a term which extends beyond May 1, 2006. Borrower shall have a “Delivery Limit” under the Foreign Exchange Facility not to exceed at any time the aggregate principal amount of Zero United States Dollars (US$0.00) with PVD (“Payment versus Delivery”) which will require Borrower to provide funds before the currency is delivered and this will eliminate the 1 or 2 business day settlement period and mitigate settlement risk. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement, dated as of May 1, 2004 (“Foreign Exchange Agreement”), all terms of which are incorporated herein by this reference.

Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make available to Borrower a facility (the “Foreign Exchange Facility”) under which Bank, from time to time up to and including April 2, 2007, will enter into foreign exchange contracts for the account of Borrower for the purchase and/or sale by Borrower in United States dollars of foreign currencies designated by Borrower; provided however, that the maximum amount of all outstanding foreign exchange contracts shall not at any time exceed an aggregate of One Million United States Dollars (US$1,000,000.00). No foreign exchange contract shall be for a term which extends beyond April 2, 2007. Borrower shall have a “Delivery Limit” under the Foreign Exchange Facility not to exceed at any time the aggregate principal amount of Two Hundred Thousand United States Dollars (US$200,000.00), which Delivery Limit reflects the maximum principal amount of Borrower’s foreign exchange contracts which may mature during any two (2) day period. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement dated as of April 3, 2006 (“Foreign Exchange Agreement”), all terms of which are incorporated herein by this reference.”

Foreign Exchange Facility. Subject to the terms of the Agreement and those contained herein, the Bank agrees, at the Borrower's request, to enter into FX Transactions with the Borrower from time to time prior to the Expiration Date, provided that, at no time shall the aggregate FX Risk Liability exceed the FX Limit.

Foreign Exchange Facility. (a) During the availability period, the bank at its discretion may enter into spot and forward foreign exchange contracts with any one or more of the Borrowers. The foreign exchange contract limit will be Four Million U.S. Dollars (U.S. $4,000,000), and the settlement limit will be Two Million U.S. Dollars (U.S. $2,000,000). The "foreign exchange contract limit" is the maximum limit on the net difference between the total foreign exchange contracts outstanding less the total foreign exchange contracts for which the Borrowers have already compensated the Bank. The "settlement limit" is the maximum limit on the gross total amount of all sale and purchase contracts on which delivery is to be effected and settlement allowed on any one banking day. (b) The Bank shall not be required to pay the Borrowers or deliver any foreign currency to the Borrowers under any foreign exchange contract until the Bank receives evidence satisactory to it that the Borrowers have paid the Bank the required U. S. Dollars in immediately available funds or delivered the required foreign currency to the Bank under such foreign exchange contract. The Bank shall not be liable for interest or other damages caused by any such failure to pay or deliver or any such delay in payment or delivery. (c) The Borrowers will pay the Bank on demand the Bank's then standard foreign exchange contract fees for each contract. (d) Foreign exchange contracts will be in form and substance satisfactory to the Bank. (e) No foreign exchange contracts will mature later than 90 days after the last day of the availability period, and in addition no foreign exchange contract shall have a tenor longer than 365 days. (f) The Borrowers understand the risks of, and are financially able to bear any losses resulting from, entering into foreign exchange contracts. The Bank shall not be liable for any loss suffered by the Borrowers as a result of the Borrowers' foreign exchange trading. The Borrowers will enter into each foreign exchange contract in reliance only upon the Borrowers' own judgment. The Borrowers acknowledge that in entering into foreign exchange contracts with the Borrowers, the Bank is not acting as a fiduciary. The Borrowers understand that neither the Bank nor the Borrowers have any obligation to enter into any particular foreign exchange contract with the other. (g) The Borrowers hereby request the Bank to rely upon and execute the Borrowers' telephonic instructions regarding foreign exchange contracts...