Common use of FOREIGN CURRENCY ACCOUNT Clause in Contracts

FOREIGN CURRENCY ACCOUNT. The customer assumes, with respect to the said account, full and complete responsibility and liability for any decrease due to taxes, usual or customary bank charges, stamp tax or depreciation in the value of funds credited to the said account (which may be deposited by you in the name of the Bank with such depository and in such place as the Bank may in its absolute discretion select) and the unavailability of such funds due to restrictions on convertibility, requisitions, involuntary transfers, exercise of military or usurped powers or other causes beyond the control of the Bank. Where applicable, the customer represents that it has obtained any and all necessary Central Bank or local regulatory approval to maintain a foreign currency account at the Bank.

FOREIGN CURRENCY ACCOUNT. The customer assumes, with respect to the said account, full and complete responsibility and liability for any decrease due to taxes, usual or customary bank charges, stamp tax or depreciation in the value of funds credited to the said account (which may be deposited by you in the name of the Bank with such depository and in such place as the Bank may in its absolute discretion select) and the unavailability of such funds due to restrictions on convertibility, requisitions, involuntary transfers, exercise of military or usurped powers or other causes beyond the control of the Bank. Where applicable, the customer represents that it has obtained any and all necessary Central Bank or local regulatory approval to maintain a foreign currency account at the Bank.. PARTB - INSTRUMENTS