Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make available to Borrower a facility (the “Foreign Exchange Facility”) under which Bank, from time to time up to and including December 1, 2007, will enter into foreign exchange contracts for the account of Borrower for the purchase and/or sale by Borrower in United States dollars of foreign currencies designated by Borrower; provided however, that the maximum amount of all outstanding foreign exchange contracts shall not at any time exceed an aggregate of Two Hundred Thousand United States Dollars (US$200,000.00). No foreign exchange contract shall be executed for a term which extends beyond December 1, 2007. Borrower shall have a “Delivery Limit” under the Foreign Exchange Facility not to exceed at any time the aggregate principal amount of Six Thousand United States Dollars (US$6,000.00), which Delivery Limit reflects the maximum principal amount of Borrower’s foreign exchange contracts which may mature during any two (2) day period. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement dated as of December 1, 2004 (“Foreign Exchange Agreement”), all terms of which are incorporated herein by this reference.
Foreign Exchange Facility. Borrower may enter in foreign exchange forward contracts with Lender under which Borrower commits to purchase from or sell to Lender a set amount of foreign currency more than one business day after the contract date (the “FX Forward Contract”). The total FX Forward Contracts at any one time may not exceed 10 times the amount of the FX Sublimit. Ten percent (10%) of the amount of each outstanding FX Forward Contract shall be treated as an Advance for purposes of determining availability under the Credit Limit and shall decrease, on a dollar-for-dollar basis, the amount available for other Advances. Lender may terminate the FX forward Contracts if an Event of Default occurs. Each FX Forward Contract shall be subject to additional terms set forth in the applicable FX Forward Contract or other agreements executed in connection with the foreign exchange facility.
Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make available to Borrower a facility (the "Foreign Exchange Facility") under which Bank, from time to time up to and including February 1, 2006, will enter into foreign exchange contracts for the account of Borrower for the purchase and/or sale by Borrower in United States dollars of Euro, Pound, Japanese yen, Australian dollars, Rand, Canadian dollars, Mexican Peso, Singapore dollars and Brazilian real; provided however, that the maximum amount of all outstanding foreign exchange contracts shall not at any time exceed an aggregate of Twenty-five Million United States Dollars (US$25,000,000.00). No foreign exchange contract shall be executed for a term which extends beyond February 1, 2006. Borrower shall have a "Delivery Limit" under the Foreign Exchange Facility not to exceed at any time the aggregate principal amount of Five Million United States Dollars (US$5,000,000.00), which Delivery Limit reflects the maximum principal amount of Borrower's foreign exchange contracts which may mature during any two (2) day period. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement, substantially in the form of EXHIBIT B attached hereto ("Foreign Exchange Agreement"), all terms of which are incorporated herein by this reference."
Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Borrower may, at its option from time to time, enter into foreign exchange forward contracts (collectively, the “Foreign Exchange Facility”) with Bank, under which Borrower commits to purchase from or sell to Bank a set amount of foreign currency more than one Business Day after the contract date (each such contract a “FX Forward Contract”). Bank will subtract 10%, or such greater amount as determined by Bank, of each outstanding FX Forward Contract from a foreign exchange sublimit of $750,000 (the “FX Reserve”). The total FX Forward Contracts at any one time may not exceed 10 times the amount of the FX Reserve. Ten percent (10%) of the amount of each outstanding FX Forward Contract shall be treated as Advances under Section 2.1(a) and shall reduce, so long as outstanding, on a dollar-for-dollar basis, the amount available for other Advances. Bank may terminate the FX Forward Contracts if an Event of Default occurs. Each FX Forward Contract shall be subject to additional terms set forth in the applicable FX Forward Contract or other agreements executed in connection with the Foreign Exchange Facility.
Foreign Exchange Facility. (a) During the availability period, the Bank at its discretion may enter into spot and forward foreign exchange contracts with the Borrower. The foreign exchange contract limit will be Four Million and 00/100 U.S. Dollars (U.S. $4,000,000.00), and the settlement limit will be One Million and 00/100 U.S. Dollars (U.S. $1,000,000.00). The "foreign exchange contract limit" is the maximum limit on the net difference between the total foreign exchange contracts outstanding less the total foreign exchange contracts for which the Borrower has already compensated the Bank. The "settlement limit" is the maximum limit on the gross total amount of all sale and purchase contracts on which delivery is to be effected and settlement allowed on any one banking day.
(b) The Bank shall not be obligated to permit the Borrower to enter into any foreign exchange contracts which would exceed the settlement limit. However, if the Bank decides, in its discretion, to waive the settlement limit for foreign exchange contracts which will settle on any particular banking day, the Bank shall not be required to make any U.S. Dollar or foreign currency settlement payment to the Borrower until the Bank receives evidence satisfactory to it that the Borrower has paid the Bank all of the Borrower's U.S. Dollar and foreign currency settlement payments. The Bank shall not be liable for interest or other damages caused by any such failure to pay or deliver or any such delay in payment or delivery.
(c) The Borrower will pay the Bank on demand the Bank's then standard foreign exchange contract fees for each contract.
(d) Foreign exchange contracts will be in form and substance satisfactory to the Bank.
(e) No foreign exchange contracts will mature later than one hundred eighty (180) days after the Facility No. 1
Foreign Exchange Facility. (a) Foreion Exchange Facility. Bank will enter into foreign exchange ------------------------- contracts for the account of Borrower under the Foreign Exchange Facility for the purchase and/or sale by Borrower in United States dollars of Five Million; provided however, that the aggregate of all outstanding foreign exchange contracts shall not at any time exceed the maximum principal amount available under the Foreign Exchange Facility, as set forth above. No foreign exchange contract shall be executed for a term in excess of two (2) months or for a term which extends beyond the maturity date of the Line of Credit. Borrower shall have a "Delivery Limit" under the Foreign Exchange Facility not to exceed at any time the aggregate principal amount of One Million United States Dollars (US$1,000,000.00), which Delivery Limit reflects the maximum principal amount of Borrower's foreign exchange contracts which may mature during any sixty (60) day period. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement, substantially in the form of Exhibit C attached hereto ("Foreign Exchange Agreement"), all terms of which are incorporated herein by this reference.
Foreign Exchange Facility. Subject to and upon the terms and conditions of this Agreement and any other agreement that Borrower may enter into with Lender in connection with foreign exchange transactions (“FX Contracts”) and subject to the availability under the Domestic Credit Limit and the Domestic Borrowing Base, Borrower may request Lender to enter into FX Contracts with Borrower, which shall be due no later than the Maturity Date unless cash secured on terms satisfactory to Lender. Borrower shall conduct all its United States foreign currency exchange business through Lender. Borrower shall pay any standard issuance and other fees that Lender notifies Borrower will be charged for issuing and processing FX Contracts for Borrower. The FX Amount shall at all times be equal to or less than FX Sublimit. The “FX Amount” shall equal the amount determined by multiplying (i) the aggregate amount, in United States Dollars, of FX Contracts between Borrower and Lender outstanding as of any date of determination by (ii) the applicable Foreign Exchange Reserve Percentage as of such date. The “Foreign Exchange Reserve Percentage” shall be a percentage as determined by Lender, in its sole discretion from time to time. If at any time the EXIM Line of Credit is terminated or otherwise ceases to exist, Borrower shall immediately secure in cash all obligations under the Foreign Exchange Facility on terms acceptable to Lender.
Foreign Exchange Facility. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make available to Borrower a facility (the "Foreign Exchange Facility") under which Bank, from time to time up to and including June 1, 2013, will enter into foreign exchange contracts for the account of Borrower for the purchase and/or sale by Borrower in United States dollars of Japanese Yen, Euro, Pound Sterling, Korean Won, and other currencies as the parties shall agree; provided however, that the Maximum Potential Exposure of all outstanding foreign exchange contracts shall not at any time exceed an aggregate of Ten Million United States Dollars (US$10,000,000.00). No foreign exchange contract shall be executed for a term in excess of twelve (12) months or for a term which extends beyond the maturity of the Line of Credit and all foreign exchange contracts shall be “payment versus delivery”, unless otherwise agreed by the parties. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement dated as of January 24, 2006 (as the same may be amended from time to time, "Foreign Exchange Agreement"), all terms of which are incorporated herein by this reference. “Maximum Potential Exposure” means and is calculated as of the date that Borrower executes any foreign exchange contract, the amount of Borrower’s maximum potential liability to Bank under (i) all foreign exchange Transactions outstanding at such time, and (ii) as applicable, all foreign exchange Transactions requested by Borrower at such time, as determined by Bank in its sole discretion. For clarity, the parties acknowledge that Borrower’s Maximum Potential Exposure shall be reassessed only upon execution of new foreign exchange contracts.
Foreign Exchange Facility. Subject to the terms of the Agreement and those contained herein, the Bank agrees, at the Borrower's request, to enter into FX Transactions with the Borrower from time to time prior to the Expiration Date, provided that, at no time shall the aggregate FX Risk Liability exceed the FX Limit.
Foreign Exchange Facility. Borrower may enter in foreign exchange forward contracts with Lender under which Borrower commits to purchase from or sell to Lender a set amount of foreign currency more than one business day after the contract date (the “FX Forward Contract”). At least ten percent (10%), or such greater percentage as determined by Lender, of the amount of each outstanding FX Forward Contract shall be treated as Revolving Advances hereunder and shall decrease, on a dollar-for-dollar basis, the amount available for other Revolving Advances. Lender may terminate the FX Forward Contracts if an Event of Default occurs. Upon the earlier of: (i) the Revolving Maturity Date or (ii) the Termination Date, if the term of this Agreement is not extended by Lender, any Advances outstanding under this Paragraph must be secured by unencumbered cash on terms acceptable to Lender. Each FX Forward Contract shall be subject to additional terms set forth in the applicable FX Forward Contract or other agreements executed in connection with the foreign exchange facility. Notwithstanding anything to the contrary herein, any amounts outstanding for FX Forward Contracts that are secured by unencumbered cash on terms acceptable to Lender shall not reduce the amount available under the Revolving Credit Limit nor be included in the calculation of Overadvance.
