GBP Clause Samples
The GBP clause specifies that all monetary amounts referenced in the agreement are to be interpreted and settled in British Pounds Sterling (GBP). In practice, this means that payments, fees, and any financial calculations under the contract are denominated in GBP, regardless of the parties' locations or other currencies involved in their operations. This clause ensures clarity and consistency in financial transactions, preventing disputes over currency conversions and exchange rate fluctuations.
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GBP. For Wires in Pound Sterling currency, Wire Approvals must be received on or before 2:30 PM the day prior to the value date of the Order.
GBP. The annual bonus shall be calculated as follows: (i) for at target performance: the annual bonus shall be an amount equal to 40% of the Executive’s base salary; (ii) for performance at 110% of targets or higher: the annual bonus shall be an amount equal to 50% of the Executive’s base salary; and (iii) for performance between 100% and 110% of targets, the annual bonus shall be equal to an amount scaled ratably between 40% to 50% of the Executive’s base salary. In no event shall the Company be required to pay an annual bonus equal to greater than 50% of the Executive’s base salary. An example calculation of the Executive’s bonus is attached hereto as SCHEDULE 4. If performance targets are not met, the Board shall in good faith consider whether a full or partial annual bonus should still be paid; in such circumstance, the Board shall consider: (i) the Executive’s individual performance and efforts; (ii) the performance metrics achieved; and (iii) the circumstances related to the applicable targets. The bonus payments, if any, shall be paid by the Company no later than the 15th day of the third calendar month of the fiscal year following the fiscal year to which such annual bonus relates.
GBP if in GBP (in respect of Advances made by the Sydney Branch) to the following account (under reference ▇▇▇▇ or as specified by the Bank); or Bank: Royal Bank of Scotland, London Account Name: National Australia Bank Account Number: ▇▇▇▇▇▇▇▇ SWIFT: ▇▇▇▇▇▇▇▇ or such other account from time to time notified in writing by the Bank.