Net Currency Position definition

Net Currency Position means, for any value date, with respect to each currency of a FX Transaction, the net U.S. dollar equivalent (as calculated by UBS in a commercially reasonable manner) of the amount of such currency owed to UBS by the Customer as calculated by UBS in good faith and in a commercially reasonable manner.
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Related to Net Currency Position

  • First Currency has the meaning specified in Section 1.15.

  • Fiat Currency means currency issued by the relevant body in a country or by a government that is designated as legal tender in its country of issuance through amongst other things, government decree, regulation, or law;

  • Relevant Currency means the currency specified as such or, if none is specified, the currency in which the Notes are denominated;

  • Termination Currency means United States Dollars.

  • Index Currency means USD.