FX Exchange Reports Sample Clauses
The FX Exchange Reports clause requires parties involved in foreign exchange (FX) transactions to provide regular reports detailing the specifics of those transactions. Typically, this involves sharing information such as transaction dates, amounts, currencies exchanged, and applicable rates, either on a scheduled basis or upon request. By mandating the exchange of such reports, the clause ensures transparency, facilitates accurate record-keeping, and helps prevent disputes over the terms or execution of FX trades.
FX Exchange Reports. By 12:00 p.m. (New York City time) on the fourth (4th) Business Day following the last day of a Weekly Collection Period for a Currency Conversion Weekly Allocation Date, the Managers will provide to the Trustee and the Servicer a statement substantially in the form of Exhibit B directing the FX Agent to settle a Currency Conversion that will result in a specified amount of U.S. Collections or Canadian Collections (each, a “FX Exchange Report”) on such Weekly Allocation Date. The FX Exchange Reports will be deemed confidential information and will not be disclosed by the Trustee to any Noteholder, Note Owner or other Person without the prior written consent of the Co-Issuers.