FX CONTRACT REQUESTS Clause Samples

FX CONTRACT REQUESTS. A request for an FX Contract shall be made in the following manner: Borrower may make a request for a telephone quote from Bank with respect to a proposed FX Contract in a specified amount of a specified foreign currency and with a specific settlement date. Borrower may make a request for such FX Contract not later than 2:00 p.m. Dallas, Texas time on the Business Day on which Borrower MARCH 1997 AMENDMENT 12 proposes that such FX Contract become effective; provided, that no such request may be made at a time when there exists a Default or Event of Default. Prior to, or at the time of, such request Borrower shall have delivered to Bank corporate resolutions authorizing Borrower to enter into such FX Contract (which authorization may be general rather than specific to such FX Contract), an indemnity agreement with respect to electronically transmitted instructions relating to such FX Contract (which indemnity may be general rather than specific to such FX Contract) and such other customary documentation as Bank shall reasonably require, all in form and substance reasonably satisfactory to Bank. In no event shall Bank enter into an FX Contract unless Bank has received from Agent an FX Guaranty covering such FX Contract."