First Currency definition

First Currency has the meaning specified in Section 1.15.

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First Currency has the meaning specified in Section 115.

First Currency means the currency appearing first in the definition of the relevant Rate of Exchange or, in the case of a Rate of Exchange referring to more than two currencies, the currency referred to first in each constituent rate of such Rate of Exchange.

Examples of First Currency in a sentence

• The obligation of the party making payment on account of any judgement shall, notwithstanding any judgement in such Other Currency, be discharged only to the extent that, on the Business Day following the receipt of any sum paid on account of the judgement in the Other Currency, the recipient could purchase the First Currency from the Holder at 12:00 o'clock noon (Toronto time) on such date.

• If, for the purpose of calculating the amount of any judgement in any court, it is necessary to convert the currency of any obligation giving rise to the judgement (the "First Currency") into another currency (the "Other Currency"), the rate of exchange used shall be that at which the party obtaining such judgement could purchase the First Currency with the Other Currency from the Holder determined at the close of business on the Business Day immediately preceding the day on which judgement is rendered.

• If the amount of the First Currency so purchased is more than the amount originally due in the First Currency, the other Party shall be obligated to pay to the First Party the amount of such surplus.

• If, for the purposes of obtaining judgment in any court, it is necessary to convert an amount due hereunder in the First Currency into a Second Currency, the rate of exchange used shall be the Spot Rate at the relevant time to purchase the First Currency with the Second Currency and includes any premium and costs of exchange payable in connection with such purchase.

• My liability to pay Simplii Financial in a particular currency (the "First Currency") will not be discharged or satisfied by any tender or recovery under any judgment expressed in or converted into another currency (the "Other Currency") except to the extent the tender or recovery results in Simplii Financial’s effective receipt of the full amount of the First Currency so payable.

More Definitions of First Currency

First Currency has the meaning given to it in clause 17.1 (Currency indemnity).

First Currency means the currency specified in the applicable Final Terms as defined in the ISDA Definitions.

First Currency has the meaning given to it in Clause 12.1(a).

First Currency has the meaning attributed to it in the definition of Equivalent Amount in Section 1.1.

First Currency as defined in Section 10.4(b).

First Currency means the currency appearing in the first position in a Rate of Exchange;

First Currency has the meaning assigned to that term in Section 12.4(c).