Currency indemnity definition

Currency indemnity. If we receive or recover any amount in respect of an obligation of yours in a Currency other than that in which such amount was payable, whether pursuant to a judgement of any court or otherwise, you shall indemnify us and hold us harmless from and against any cost (including costs of conversion) and loss suffered by us as a result of receiving such amount in a Currency other than the Currency in which it was due.

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Currency indemnity. If that amount in the Currency of Account is less than the amount of the Liability in the Currency of Account the Company shall indemnify the Collateral Agent against any loss sustained by it as a result. In any event, the Company shall indemnify the Collateral Agent against the cost of making any such purchase. For the purpose of this Clause 29.3, it will be sufficient for the Collateral Agent to demonstrate that it would have suffered a loss had an actual exchange or purchase been made.

Currency indemnity. No payment to the Bank (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Company in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred. To the extent that the amount of any such payment shall on actual conversion into such currency fall short of such obligation or liability expressed in that currency the Bank shall have a further separate cause of action against the Company and shall be entitled to enforce the charges hereby created to recover the amount of the shortfall. 14

Examples of Currency indemnity in a sentence

In addition, clause 20.4 (Currency indemnity) of the Loan Agreement shall apply, with any necessary adaptations, in relation to this Guarantee.
In this Clause 12.2 (Currency indemnity), the "available rate of exchange" means the rate at which the Owner is able at the opening of business (Shanghai time) on the Business Day after it receives the Sum concerned to purchase the First Currency with the Second Currency.
This Clause 21.5 (Currency indemnity) creates a separate liability of the Borrower which is distinct from its other liabilities under the Finance Documents and which shall not be merged in any judgment or order relating to those other liabilities.
In this Clause 21.5 (Currency indemnity), the “available rate of exchange” means the rate at which the Creditor Party concerned is able at the opening of business (London time) on the Business Day after it receives the sum concerned to purchase the Contractual Currency with the Payment Currency.
In addition, clause 21.5 (Currency indemnity) of the Loan Agreement shall apply, with any necessary adaptations, in relation to this Guarantee.
This Clause 22.5 (Currency indemnity) creates a separate liability of the Borrower which is distinct from its other liabilities under the Finance Documents and which shall not be merged in any judgment or order relating to those other liabilities.
Each Client agrees that a certificate (except as to manifest error, or errors in law) signed by an authorised signatory of FGI shall be prima facie evidence as to the amount of any Loss whether actual or contingent referred to in clause 22 (Indemnity), any amount payable under clause 25.3 (Currency indemnity) and the fees and charges referred to in this Deed and/or the amount at any time owed by a Credit Party to FGI or vice versa, howsoever arising.
In this Clause 21.4 (Currency indemnity), the “available rate of exchange” means the rate at which the Creditor Party concerned is able at the opening of business (London time) on the Business Day after it receives the sum concerned to purchase the Contractual Currency with the Payment Currency.
The following provisions of the Credit Agreement apply to this Mortgage as if they were expressly incorporated in this Mortgage with any necessary modifications: Clause 13.1, Currency indemnity; Clause 32, Payment Mechanics; Clause 33, Set-off; Clause 36, Partial invalidity; and Clause 37, Remedies and Waiver.
All indemnities set forth herein including without limitation, in Clauses 5.6.2 (Counter indemnity), 12.2 (Tax indemnity), 12.3 (Stamp taxes), 12.4 (Value added tax), 14.1 (Currency indemnity), 14.2 (Other indemnities), 15.2.1 (Limitation of liability) and 19.1 (Guarantee and indemnity) shall survive the execution, delivery and termination of this Agreement and the making and repayment of the Obligations.

More Definitions of Currency indemnity

Currency indemnity. If XNT receives or recovers any amount in respect of an obligation of yours in a currency other than that in which such amount was payable, whether pursuant to a judgment of any court or otherwise, you shall indemnify us and hold us harmless from and against any cost (including costs of conversion) and loss suffered by XNT as a result of receiving such amount in a currency other than the currency in which it was due. It is your responsibility to manage your currency risks after XNT charges have been debited.

Currency indemnity. If the Broker at any time receives a payment (including by set-off) in the wrong currency and the amount of the right currency which the Broker is able to buy (after deduction of any relevant costs) with the amount received falls short of the amount payable in the right currency, the Client as a separate and independent obligation shall on demand from time to time indemnify the Broker against such shortfall and pay interest on such shortfall at the rate chargeable on the Securities Account or (as the case may be) the Finance Account from the date of such receipt until such shortfall is paid.

Currency indemnity. Interest and fees hereunder shall be payable in the same currency as the principal to which they relate. Any payment on account of an amount payable in a particular currency (the “proper currency”) made to or for the account of Agent or Lender in a currency (the “other currency”) other than the proper currency, whether pursuant to a judgment or order of any court or tribunal or otherwise and whether arising from the conversion of any amount denominated in one currency into another currency for any purpose, shall constitute a discharge of the Obligor’s obligation only to the extent of the amount of the proper currency which Agent or Lender, as applicable, is able, in the normal course of its business within one Business Day after receipt by it of such payment, to purchase with the amount of the other currency so received. If the amount of the proper currency which Agent or Lender, as applicable, is able to purchase is less than the amount of the proper currency due to Agent or Lender, as applicable, the Obligors shall indemnify and save Agent and Lender harmless from and against any loss or damage arising as a result of such deficiency.