Foreign Currency Accounts definition
Examples of Foreign Currency Accounts in a sentence
Withdrawals from Foreign Currency Accounts can be made only either by written payment instructions submitted to the Bank in original or in scanned copy or by calling at the counter and sign the relevant voucher.
In accordance with the Petroleum Law of 1990, and subject to the provisions of Article 19, Contractor shall be entitled to freely export all of its share of Cost Oil and Profit Oil from Suriname and sell, assign or otherwise transfer such Crude Oil in or outside Suriname, and record and retain in Foreign Currency Accounts, all sales proceeds as income without restriction.
Residents who are dealing in foreign currencies and non- residents who are dealing in Malaysian Ringgit are required to comply when performing remittance transaction, invest in foreign currency asset or transact through External Account or Foreign Currency Accounts.
The Services for Foreign Currency Accounts shall be as determined by Bank from time to time at its discretion, and may change from time to time and/or be terminated by Bank.
The Cash Collateral Account shall remain in place until all amounts under the Revolving Credit Facility have been repaid or retired (including but not limited to the expiration or release of all Letters of Credit, Foreign Exchange Contracts and Foreign Currency Accounts and other financial accommodations made available by the Bank for the benefit of the Co-Borrowers under the Revolving Credit Facility), such that the Bank has no further exposure or obligation thereunder.
Bank is hereby designated as Customer’s banking depository for one or more Foreign Currency Account(s) (the “Foreign Account(s)”).
Foreign Currency Accounts opened by Customers with HLB shall be governed by HLB’s Foreign Currency Account Terms and Conditions.
All deposits and withdrawals to or from ICICI Bank Foreign Currency Accounts shall be transacted at the prevailing exchange rate as at the date of the deposit or withdrawal and as determined by ICICI Bank.
The receipt of any Collections by Foothill (whether from transfers to Foothill by the Lockbox Banks, the Foreign Currency Accounts Banks, or otherwise) immediately shall be applied provisionally to reduce the Obligations outstanding under SECTION 2.1, but shall not be considered a payment on account unless such Collection item is a wire transfer of immediately available federal funds and is made to the Foothill Account or unless and until such Collection item is honored when presented for payment.
In accordance with the Petroleum Law of 1990, and subject to the provisions of Article 19, Contractor shall be entitled to freely (a) export all of its share of Cost Oil and Profit Oil from Suriname and sell, assign or otherwise transfer such Crude Oil in or outside Suriname, and record and retain in foreign currency accounts, all sales proceeds as income without restriction and (b) receive revenues from Cost Oil and Profit Oil into Foreign Currency Accounts.