Common use of Discharge and Termination of Currency Option Transactions Clause in Contracts

Discharge and Termination of Currency Option Transactions. Unless otherwise agreed, any Call Option or any Put Option written by a party will automatically be terminated and discharged, in whole or in part, as applicable, against a Call Option or a Put Option, respectively, written by the other party, such termination and discharge to occur automatically upon the payment in full of the last Premium payable in respect of such Currency Option Transactions; provided that, such termination and discharge may only occur in respect of Currency Option Transactions:

Discharge and Termination of Currency Option Transactions. Unless otherwise agreed, any Call Option or any Put Option written by a party will automatically be terminated and discharged, in whole or in part, as applicable, against a Call Option or a Put Option, respectively, written by the other party, such termination and discharge to occur automatically upon the payment in full of the last Premium payable in respect of such Currency Option Transactions; provided that, such termination and discharge may only occur in respect of Currency Option Transactions: (i) each being with respect to the same Put Currency and the same Call Currency;