Convertible Currency definition

Convertible Currency means any freely convertible and transferable currency.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Convertible Currency means such currency as the Board may determine; “credit” has the same meaning as in the Banking Act;

Convertible Currency means currency which is freely negotiable and transferable in international exchange markets at exchange rate margins consistent with the Articles of Agreement of the International Monetary Fund;

Examples of Convertible Currency in a sentence

• Such fair market value shall at the request of the Investor be expressed in a Freely Convertible Currency on the basis of the market rate of exchange existing for that currency on the Valuation Date.

• All monetary relief payable under this Article shall, if the Host Government so requires, be paid in Convertible Currency.

• The Facility will be denominated in Euros and committed in Euros and may be used in Euros and US Dollars or in any other Convertible Currency on an available basis.

• The Republic of Cameroon shall have the election to pay the Monthly Cash Calls in any Convertible Currency of its choice.

• The transfers shall be made in a Freely Convertible Currency and in accordance with the laws and regulations of the Contracting Party where Investments were made without any restriction or undue delay.

More Definitions of Convertible Currency

Convertible Currency means any currency other than the CFA Franc which is freely convertible on international exchange markets, acceptable to the Party who requests a payment in convertible currency.

Convertible Currency means: the dollar of the United States of America, sterling pound, Dutch ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇, Swiss ▇▇▇▇▇, Japanese Yen, or any other currency used in a large extent for the purpose of conducting payments for international transactions which have ready buyers in main currency markets.

Convertible Currency means any currency so designated by ADB at any time;

Convertible Currency means currency of a country which has accepted the obligations imposed by Article VIII of the International Monetary Fund Agreement.

Convertible Currency means a currency which is not a Scheme currency; “default declaration” means a declaration made by LCI under paragraph 13(1);

Convertible Currency or “currency of a country other than that of the Borrower” means any currency which is legal tender in a country other than that of the Borrower, the Special Drawing Rights of the International Monetary Fund, and any other unit which represents the debt service obligation of a borrowing by the Bank.

Convertible Currency means any currency that is freely negotiable and transferable in international exchange markets;