Common use of Foreign Currency Exchange Clause in Contracts

Foreign Currency Exchange. Unless the Depositor shall otherwise direct, whenever funds are received by the Trustee in foreign currency, upon the receipt thereof or, if such funds are to be received in respect of a sale of Securities, concurrently with the contract of the sale for the Security (in the latter case the foreign exchange contract to have a settlement date coincident with the relevant contract of sale for the Security), the Trustee shall enter into a foreign exchange contract for the conversion of such funds to U.S. dollars pursuant to the instruction of the Depositor. The Trustee shall have no liability for any loss or depreciation resulting from action taken pursuant to such instruction. (u) Section 2.01(b)(5) is hereby amended by adding the following at the conclusion thereof: Cash represented by a foreign currency shall be replicated in such currency or, if the Trustee has entered into a contract for the conversion thereof, in U.S. dollars in an amount replicating the dollars to be received on such conversion. (v) Section 8.01 shall be amended to add the following paragraph (m):

Appears in 4 contracts

Samples: Trust Indenture and Agreement (Nuveen Unit Trusts Series 87), Trust Indenture and Agreement (Nuveen Unit Trusts Series 94), Trust Indenture and Agreement (Nuveen Unit Trusts Series 85)

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