Common use of Settlement Currency Clause in Contracts

Settlement Currency. All Transactions under the Agreement shall be submitted to Member and Servicer in one of the Submission Currencies identified on Exhibit A and the all settlements with respect to such Transactions shall be in the Settlement Currency that is identical to the Submission Currency. Carrier may request that Member and Servicer permit that Applicable Transactions be settled with a Settlement Currency that is different than the Submission Currency for such Transactions. Carrier acknowledges and agrees that a currency conversion would be required and that Member and Servicer would have employ their exchange rate methodology in making any such currency conversion and the costs associated with such conversion would be passed on to Carrier.