Currency Obligation definition

Currency Obligation means any obligation of a Party to deliver a Currency pursuant to an FX Transaction, the application of Section 6.3(a) or (b), or an exercised Option (except, for the purposes of Section 8.1 only, one that is to be settled at its In-the-Money Amount under Section 5.5).

Currency Obligation means any obligation of a Party to deliver a Permitted Currency pursuant to an FX Transaction or an exercised Option (other than one which is to be settled at its In-the-money Amount under Clause 6 of these Terms and Conditions Governing Foreign Exchange Transactions, Currency Options and Share Options);

Currency Obligation means any obligation of a Party to deliver a Permitted Currency pursuant to a Bullion Transaction or an exercised Option (other than one which is to be settled at its In-the-money Amount under Clause 6.5);

Examples of Currency Obligation in a sentence

• The provisions of Section 6.3 shall apply notwithstanding that either Party may fail to record the new Currency Obligation in its books.

• This Section 6.3 shall not affect any other Currency Obligation of a Party to deliver any different Currency on the same Value Date.

• An exercised Option shall be treated as an FX Transaction and a Currency Obligation (except, for the purposes of Section 8.1 only, if it is to be settled at its In-the-Money Amount), and for this purpose the relevant Settlement Date shall be treated as the Value Date of the FX Transaction.

• Subject to Sections 6.2 and 6.3, each Party shall deliver to the other Party the amount of the Currency to be delivered by it under each Currency Obligation on the Value Date for such Currency Obligation.

• If an Event of Default has occurred and is continuing, then the Non-Defaulting Party shall have the right to close out all, but not less than all, outstanding Currency Obligations (including any Currency Obligation which has not been performed and in respect of which the Value Date is on or precedes the Close-Out Date) and Options, except to the extent that in the good faith opinion of the Non-Defaulting Party certain of such Currency Obligations or Options may not be closed out under applicable law.

More Definitions of Currency Obligation

Currency Obligation means the undertaking of a party hereunder to receive or deliver an amount of currency, including a netted Currency Obligation, and including any Currency Obligation previously entered into by the parties.

Currency Obligation means the obligation to purchase or sell an amount of Currency by one party to the other party, including for greater certainty

Currency Obligation means any obligation of a Party to deliver a Currency pursuant to an FX Transaction governed by the Agreement, or pursuant to the application of Sections 3.3(a) or 3.3(b).

Currency Obligation has the meaning given to such term in the Foreign Exchange Agreement.

Currency Obligation means any obligation of a Party to deliver a Permitted Currency pursuant to a Foreign Exchange Transaction or an exercised Currency Option;

Currency Obligation means any obligation of a Party to deliver a Permitted Currency pursuant to an FX Transaction;

Currency Obligation means any obligation of a Party to deliver a Currency pursuant to an FX Transaction (including a Non-Deliverable FX Transaction for which the Settlement Currency Amount has been fixed), or an exercised Currency Option Transaction. For the pur- poses of Section 6.1 only: (a) the amount of the Currency Obligation of a Non-Deliverable FX Transaction for which the Settlement Currency Amount has not been fixed on or prior to the Closeout Date shall be as determined by the Nondefaulting Party in good faith and in a commercially reasonable manner; and (b) the term “Currency Obligation” shall not include a Currency Option Transaction that is to be settled at its In-the-Money Amount.