Currency Risk in Non-Cash Credits Sample Clauses

Currency Risk in Non-Cash Credits. In the event that the amounts are stated in foreign currency in the letter of guarantee, counter-guarantees, personal guarantees, other guarantees and acceptances and endorsements which will be provided by the Bank upon the request of the Client, the Client undertakes the currency risk for the period between issuance date and the date they are realized or maturity dates. Accordingly, the Client hereby agrees to immediately pay such amounts or TL equivalent of such amount to be calculated over the Bank’s current foreign exchange selling rate, or, in the event that the current foreign exchange selling rate is solely determined by TCB, over such foreign exchange selling rate to be determined by TCB, to the Bank in accordance with the Turkish foreign exchange legislation, and likewise, the differences, if any, between the current foreign exchange selling rate as of the date they are realized or paid and the current foreign exchange selling rate as of the date of actual transfer, and in addition, if and when it is required to convert two foreign currencies for realization or payment purposes, the losses that may arise from such conversion, together with their accessory debts, and finally, the Turkish Lira equivalent sum of all kinds of delay interests which may be required to be paid by the Bank due to delay of actual transfer or other reasons at any time between the date the amount of such letters of guarantee, counter-guarantees, personal guarantees and other collaterals, acceptances and endorsements is required to be paid and the date of actual transfer thereof.
Sample 1
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Related to Currency Risk in Non-Cash Credits

  • Currency Risks The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in your own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency.

  • PROCUREMENT OBLIGATIONS Notwithstanding any other provisions of this Part B, where in this Part B the Customer accepts an obligation to procure that a Former Supplier does or does not do something, such obligation shall be limited so that it extends only to the extent that the Customer's contract with the Former Supplier contains a contractual right in that regard which the Customer may enforce, or otherwise so that it requires only that the Customer must use reasonable endeavours to procure that the Former Supplier does or does not act accordingly.

  • Currency Indemnity (a) If any sum due from an Obligor under the Finance Documents (a “Sum”), or any order, judgment or award given or made in relation to a Sum, has to be converted from the currency (the “First Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the purpose of:

  • Currencies 46.1 All payments shall be made in Indian Rupees.

  • Canadian Currency All monies payable to or from this plan shall be payable in Canada in Canadian currency.

  • Currency All sums of money which are referred to in this Agreement are expressed in lawful money of Canada, unless otherwise specified.

  • Overdraft Liability The following actions may be taken by us if we receive a draft or other item drawn against your account and there are insufficient funds based on the available balance in your account to cover the draft or item: • Cover the draft or item in accordance with the terms of any written overdraft plan that you have established with us. • Pay the draft or item and create an overdraft to your account. Any negative balance on your account is immediately due and payable, unless we agree otherwise in writing. We may place a hold on balances in any other account you have with us until the overdraft is paid or we may set-off the amount of the overdraft against any of your other accounts in accordance with the terms of this agreement, unless prohibited by applicable law. • Return the draft or item unpaid. We may, at our option and without notice to you, refuse to pay any draft or item if it would create an overdraft, even though we may have previously established a pattern of honoring such drafts or items. We have no obligation to notify you before we decide to either pay a draft or item that creates an overdraft or to dishonor a draft or item that is drawn against insufficient available funds. Drafts or other transfers or payment orders that are drawn against insufficient funds may be subject to a service charge set forth in the Fee Schedule. National Automated Clearing House Association (NACHA) Rules allow Originating Depository Financial Institutions to reinitiate/resubmit an ACH debit returned due to NSF or uncollected funds up to two times. If the same draft or other transfer or payment order is submitted a second time, and there are insufficient funds in the account, it may be returned unpaid a second time with a fee assessed on the same item a second time. If we pay a draft or item against insufficient available funds or an overdraft is otherwise created on the account, you agree to pay any overdraft immediately. You agree to reimburse us for the cost and expenses we incur in recovering the overdraft from you, including our reasonable attorney’s fees and court costs.

  • Base Currency For the purposes of any calculation hereunder, we may convert amounts denominated in any other currency into the Base Currency at such rate prevailing at the time of the calculation as we shall reasonably select.

  • Credit Union Deductions The Employer agrees to honor Credit Union deduction requests for members who have properly signed and executed the payroll deduction form. Such deduction shall remain in effect until the Employer is properly notified in writing by the employee of any change.

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