FX Payment definition

FX Payment means a payment made on the basis of an Order to transfer, from an internal account of the Bank, the funds purchased at an agreed exchange rate under a separate contract covering the trading in financial markets entered into by the Bank and the Client.
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FX Payment as defined in SUBSECTION 2.3(A) of this Agreement."
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FX Payment means a payment made on the basis of an Order for transferring funds purchased at an agreed exchange rate from Bank’s internal account based on a separate contract for trading in financial markets entered into by the Bank and Client.
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Examples of FX Payment in a sentence

  • Immediately upon the execution of each FX Contract or FX Guaranty under this Agreement, Fleet shall be deemed to have irrevocably and unconditionally purchased and received from Agent, without recourse or warranty, a 100% undivided interest and participation in such FX Contract, FX Guaranty and in each FX Payment made in respect to such FX Contract to the extent of Fleet's 100% portion of such FX Payment.

  • If and to the extent any Lender shall not make its Revolving Credit Percentage of any Borrowing or LC Payment or Fleet shall not make its 100% portion of the FX Payment available to Agent, Borrower agrees to repay to Agent forthwith on demand such corresponding amount.

  • You will be responsible for the contents of the FX Payment instructions given to us, and we shall not be responsible for detecting errors in any such FX Payment instructions.

  • If on any date, more than one delivery of a particular currency is to be made between a pair of FX Payment Netting Offices, then each party shall aggregate the amounts of such currency deliverable by it and only the difference between these aggregate amounts shall be delivered by the party owing the larger aggregate amount to the other party, and, if the aggregate amounts are equal, no delivery of the currency shall be made.

  • We may decline or delay acting on any such FX Payment instructions for any reason including if the instructions are incomplete, ambiguous or cannot be carried out due to insufficient funds or otherwise, or if we doubt the authenticity or lawfulness of such instructions, in our sole and absolute discretion.

  • FX Payment instructions are irrevocable and constitute an “Order” as provided in the Master Agreement.

  • Fleet hereby absolutely and unconditionally assumes, as primary obligor and not as a surety, and agrees to pay and discharge, and to indemnify and hold the Agent harmless from liability in respect of Fleet's 100% share of the amount of any FX Payment.

  • Each instruction to make an FX Payment reasonably believed by us to be issued by you is binding upon you and we will be entitled to rely upon such instructions, regardless of whether such instructions were issued without proper authorization, or whether or not the Security Procedures were used to issue such FX Payment instructions.

  • The Master Servicer shall indicate to the F/X Counterparty in connection with giving any such notice that it is not the notice required under the Foreign Currency Exchange Contract and therefore shall not obligate the Master Servicer or the Trustee to make any payment on an F/X Payment Date.

  • Each Lender shall be solely responsible for its Revolving Credit Percentage of any Borrowing or LC Payment hereunder, and Fleet shall be solely responsible for its 100% portion of any FX Payment hereunder, and in no event shall Agent or any Lender (including Agent in its capacity as a Lender) bear any financial risk for the failure of any other Lender to make an Advance required hereunder.