Multi-Currency Sample Clauses
The Multi-Currency clause allows parties to conduct transactions or settle obligations in more than one specified currency. It typically outlines which currencies are permitted, how currency conversions are handled, and the applicable exchange rates or procedures for determining them. This clause is essential in international agreements, as it provides flexibility and reduces the risk of currency fluctuations, ensuring that parties can fulfill their obligations even if their preferred currency is unavailable or impractical to use.
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Multi-Currency a. The Client may be able to trade products denominated in different currencies using a base currency chosen by him. The Client understands that to trade foreign investments, it may be necessary convert foreign currencies into Hong Kong dollars and vice versa under the applicable rates at the time of conversion. The Client hereby authorizes COL to make all necessary foreign currency transactions in the Account to facilitate trading and receipt of any amounts related thereto, including sales proceeds, dividends, and other distributions. The Client acknowledges that COL and/or the Executing Broker have the authority to determine the appropriate exchange rate for any currency conversion and agrees to pay any charges that may be imposed due to such transactions and that the spread of currency conversion and exchange rate relayed to the Client is merely indicative and may be updated from time to time. The Client understands that the actual exchange rate may differ from the indicative exchange rate.
b. If required by the Executing Broker, upon purchase of a product denominated in a different currency from the base currency, a margin loan may be created to fund the purchase, secured by the assets in the Client’s Accounts. If the Client maintains positions denominated in foreign currencies, COL and/or the Executing Broker will calculate Margin Requirements by applying exchange rates specified by them. COL and/or the Executing Broker will apply "haircuts" (a percentage discount on the foreign currency equity amount) to reflect the possibility of fluctuating exchange rates between the base currency and the foreign currency. The Client must closely monitor margin requirements at all times, particularly for positions denominated in foreign currencies, because fluctuation in the currency and the value of the underlying position can cause a margin deficit.
c. The Client agrees that obligations to the Client shall be denominated in: (i) the United States dollar; (ii) a currency in which funds were deposited by the Client or were converted at the request of the Client, to the extent of such deposits and conversions; or (iii) a currency in which funds have accrued to the Client as a result of trading conducted on a designated contract market or registered derivatives transaction execution facility, to the extent of such accruals. The Client further agrees that COL and/or the Executing Broker may hold customer funds in: (i) the United States; (ii) a money center country as ...
Multi-Currency. Conversion If you perform an ATM transaction at a non-U.S. ATM location that dispenses in a currency other than U.S. dollars, CIRRUS System, Inc. will convert the local currency transaction amount into a U.S. dollar amount. CIRRUS System, Inc. will use its currency conversion procedure, which is disclosed to institutions that issue CIRRUS Cards. Currently the currency conversion rate used to determine the transaction amount in U.S. dollars is, in most cases, either a government-mandated rate or the wholesale rate in effect the day before the U.S. date of the transaction, plus a 1% International Transaction Fee. This 1% Fee will be assessed on all transactions where the Merchant country differs from the country of the Card issuer. The converted transaction amount will be shown separately from the Fee on your monthly statement. No Waiver Sun Federal can delay enforcing any of its rights any number of times without losing them. Deposit Information Deposits made at ATMs are posted to your Account(s) according to the rules and regulations of those Account(s). The first $200 can be immediately withdrawn against an ATM deposit with the remainder of the funds becoming available within 5 (five) business days after the deposit. The withdrawal limits day starts at midnight each business day and ends at midnight the next business day. Sun Federal Credit Union reserves the right to collect the items so deposited before such funds are made available to you. Charges for Transactions Please refer to the Card Fee Schedule. Sun Federal Credit Union reserves the right to change our fee schedule at times and to charge your Account in accordance with the fee schedule provided to you at least twenty-one (21) days prior to assessment or change in assessment. Other Charges Please refer to the Rate & Fee Schedule for Savings and Checking Accounts. Statements and Transactions (Notices/Record of) You will receive a printed receipt at the time of each transaction. You will also receive a monthly statement showing the status of your Account(s), transactions made during the past month, and any charges imposed for such services or transactions. You may also use online banking to check for your most recent Card activity. Statements and notices will be mailed to you at the most recent address you have given the Credit Union. Notice sent to any one of you will be considered notice to all.
Multi-Currency. The Listed Currency
Multi-Currency. Loans For each requested Multi-Currency Loan, Borrower shall deliver to Agent a written or oral (confirmed in writing by facsimile that same day) Notice of Borrowing (which notice must be received by Agent prior to 11:00 a.m. (Seattle time)) three (3) Business Days prior to the requested borrowing date specifying (i) the date of the requested borrowing, (ii) the amount thereof, (iii) the duration of the Applicable Interest Period applicable to such Loans, and (iv) the Applicable Currency. Requests for borrowing, or confirmations thereof, received after the designated hour will be deemed received on the next succeeding Business Day. Each such Notice of Borrowing shall be irrevocable and shall be deemed to constitute a representation and warranty by Borrower that as of the date of such notice the statements set forth in Article 5 hereof are true and correct and that no Default or Event of Default has occurred and is continuing. Each Multi-Currency Loan requested by Borrower under this Section 2.2 shall be in an amount of not less than $500,000 and an integral multiple of $100,000. The Dollar Equivalent amount of any borrowing in an Offshore Currency will be determined by Agent for such borrowing on the Computation Date therefor in accordance with Section 2.3. On receipt of a Notice of Borrowing, Agent shall promptly notify the Multi-Currency Bank by telephone, telex or telefax of the date of the requested borrowing and the amount thereof. The Multi-Currency Bank shall before 1:00 p.m. (Seattle time) on the date of the requested borrowing, pay the principal amount of the requested borrowing in immediately available funds to Agent at its Commercial Loan Processing Center, Seattle, Washington. Upon fulfillment to Agent's satisfaction of the applicable conditions set forth in Article 4, and after receipt by Agent of such funds, Agent will promptly make such funds available to Borrower by depositing them to the ordinary checking account maintained by Borrower at Agent's Commercial Accounts Service Center.
Multi-Currency. The Facility Amount specified in Section 5 of this Facility Agreement shall include drawdowns in any currency (including in RMB, provided that a separate sub-facility agreement for such currency is entered into, and advances in RMB shall be made in accordance with the terms and conditions of such sub-facility agreement). Advances made in different currencies shall be converted to the Base Currency using the Exchange Rate for purposes of administering the Facility Amount.
Multi-Currency