Common use of Foreign Exchange Facility Clause in Contracts

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. Subject to the terms and conditions of this Agreement, Borrower may, at its option from time to time, may enter into foreign exchange forward contracts (collectively, the a “Foreign Exchange Facility”) with Bank, 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 the “FX Forward Contract”). Bank will subtract 10%, or such greater amount as determined by Bank, of each outstanding FX Forward Contract from a the foreign exchange sublimit that is a maximum of $750,000 100,000 (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) hereunder and shall reduce, so long as outstandingdecrease, 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. Subject to the terms and conditions of this Agreement, Borrower may, at its option from time to time, may enter into in foreign exchange forward contracts (collectively, the “Foreign Exchange Facility”) with Bank, Lender under which Borrower commits to purchase from or sell to Bank Lender a set amount of foreign currency more than one Business Day business day after the contract date (each such contract a the “FX Forward Contract”). Bank Lender will subtract 10%, or such greater amount as determined by BankLender, of each outstanding FX Forward Contract from a the foreign exchange sublimit which is a maximum of $750,000 2,000,000 minus amounts outstanding under paragraphs (e) and (d) (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 Revolving Advances under Section 2.1(a) hereunder and shall reduce, so long as outstandingdecrease, on a dollar-for-dollar basis, the amount available for other Revolving Advances. Bank 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 Facilityforeign exchange facility.