FEF Contract definition

FEF Contract means a currency exchange transaction or agreement or any option with respect to any such transaction now existing or hereafter entered into between the Borrower and the Bank;
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FEF Contract means a currency exchange transaction or agreement or any option with respect to any such transaction now existing or hereafter entered into between the Borrower and the Bank; At the Borrower's request, the Bank may agree to enter into FEF Contracts with the Borrower from time to time The Borrower acknowledges that the Bank makes no formal commitment herein to enter into any FEF Contract and the Bank may, at any time and at all times, in its sole and absolute discretion, accept or reject any request by the Borrower to enter into a FEF Contract If the Bank does enter into a FEF Contract with the Borrower, it will do so subject to the following:
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FEF Contract means a contract for the purchase or sale of, subject to availability at the sole discretion of the relevant Lender, any freely traded foreign currency with maturities not greater than 24 months from the date of issue, unless otherwise agreed by the relevant Lender; provided that for the purpose of determining the total amount of Borrowings outstanding under the BNP FEF Facility or the Royal FEF Facility, as applicable, only the FEF Contracts Risk Amount in respect thereof (together with any outstanding delivery risk in respect thereof, in the case of the BNP FEF Facility) shall be deemed to be a Borrowing;
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Examples of FEF Contract in a sentence

  • The Bank makes no commitment to enter into any FEF Contract and may at any time in its sole discretion decline to enter into any FEF Contract.

  • The Borrower acknowledges that the Bank makes no formal commitment herein to enter into any FEF Contract and the Bank may, at any time and at all times, in its sole and absolute discretion, accept or reject any request by the Borrower to enter into a FEF Contract.

  • In addition, BNP accepts a delivery risk on the Borrower for an aggregate maximum amount of Cdn$5,000,000 with respect to all FEF Contracts between the Borrower and BNP, whereby BNP executes its obligations in respect of an FEF Contract before receiving confirmation that the Borrower has delivered its counterpart upon expiry of the same FEF Contract.

  • Moreover, a Lender may, in its entire discretion, refuse to enter into any FEF Contract, the purpose of which is to control, fix or regulate currency exchange fluctuation in connection with a currency which, in the opinion of such Lender, is not freely convertible.

  • Accordingly, for delivery under an FEF Contract of any amount denominated in a currency other than Canadian Dollars the Equivalent Amount of which exceeds Cdn$5,000,000, the Borrower undertakes to deliver and pay its counterpart in respect of such FEF Contract before BNP may be required to execute its own obligation with respect to such FEF Contract.

  • Prior to effecting Borrowings by way of FEF Contract under this Agreement, the Borrower shall make arrangements with the relevant Lender for the execution of such FEF Contract and all documentation, agreements and master agreements requested by such Lender in respect thereof, including appropriate confirmations relating thereto.

  • Notwithstanding the foregoing, a Lender may in any event refuse to enter into any particular FEF Contract if, acting reasonably, it is not satisfied with the conditions of issue (including, without limitation, the duration thereof) the currencies thereof or generally, the market risk relating to the issue of such FEF Contract.