Common use of Transaction in foreign currency Clause in Contracts

Transaction in foreign currency. In the event that the Client instructs GTJAF to enter into any Derivatives transactions which are effected in a foreign currency, (i) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for the Client’s account and at the Client’s risk; (ii) Margin shall be recorded in such currency or currencies and in such amounts as GTJAF may in GTJAF's sole discretion elect; and (iii) GTJAF is authorized to convert funds in the Account into and from such foreign currency at a rate of exchange determined by GTJAF, in its sole discretion, on the basis of the then prevailing money market rates. If, for any purpose, the Client is required to convert any amount due to GTJAF into a currency other than that in which it would otherwise have been due, the Client shall pay GTJAF such additional amounts as are necessary to ensure that, when received and reconverted, GTJAF will receive the full amount in the original currency as it would have received had no such conversion taken place.