Currency Reserve definition

Currency Reserve means the reserve established under section 32; “demand liabilities” means the total value of -

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Currency Reserve means, with respect to any Letter of Credit denominated in an Optional Currency, an amount equal to the Dollar Equivalent of such amount as Agent determines in its Permitted Discretion for potential currency fluctuations; provided, that Agent shall in its determination of the amount of such reserve take into account whether such Optional Currency is pegged to the Dollar.

Currency Reserve means a Reserve to protect against fluctuations in currency values.”

Examples of Currency Reserve in a sentence

These liabilities are fully funded by the Currency Reserve Assets.
Under the Law, the Currency Reserve Assets represent external and local assets that: shall only be used to satisfy demand liabilities; shall be segregated from all other assets of the Authority; and shall not be chargeable with any liability arising from any other business of the Authority.
After all demand liabilities are extinguished, any surplus Currency Reserve Assets would form, in part, the assets of the General Reserve – see Note 6.
Under Section 8 of the Law, the net income of the Authority, after provision for all expenditure and reserves, must be allocated such that the Currency Reserve represents at least 100% of demand liabilities and the General Reserve equals 15% of demand liabilities.
Under the Law (2008 Revision), the Currency Reserve Assets represent external and local assets that: shall only be used to satisfy demand liabilities; shall be segregated from all other assets of the Authority; and shall not be chargeable with any liability arising from any other business of the Authority.

More Definitions of Currency Reserve

Currency Reserve means, at any time of determination, the product of Dollar equivalent of all Eligible Accounts payable in Canadian Dollars (determined by reference to the spot rate as of such determination date) at such time multiplied by three percent (3%).

Currency Reserve means 1.5, times (i) the highest percentage change from the first day of one month to the first day of the next month for the preceding 12 month period in the quoted spot rate at which the Agent's principal office in New York City offers to exchange Canadian Dollars for US Dollars in New York City prior to 4:00 P.M. (New York City time) on such day, multiplied by (ii) the Equivalent in US Dollars of the aggregate principal amount of all Canadian Receivables as set forth in the most recent Seller Report.

Currency Reserve means the reserve established under section 32;

Currency Reserve means, for any fiscal week or fiscal month of the Performance Guarantor, the product of:

Currency Reserve means the US Dollar Equivalent of the amount equal to (i) 1.5, multiplied by (ii) the product of (1) the highest percentage change from the first day of one month to the first day of the next month for the preceding 12 month period in the quoted spot rate at which the Agent’s principal office in New York City offers to exchange Canadian Dollars for US Dollars in New York City prior to 4:00 P.M. (New York City time) on such day, multiplied by (2) the aggregate Outstanding Balance of all Canadian Dollar Receivables which are Eligible Receivables as set forth in the most recent Seller Report.

Currency Reserve means an amount equal to (i) 1.5, multiplied by (ii) the sum of (A) the product of (1) the highest percentage change from the first day of one month to the first day of the next month for the preceding 12 month period in the quoted spot rate at which the Agent’s principal office in New York City offers to exchange Canadian Dollars for US Dollars in New York City prior to 4:00 P.M. (New York City time) on such day, multiplied by (2) the aggregate Outstanding Balance of all Canadian Dollar Receivables which are Eligible Receivables as set forth in the most recent Seller Report, plus (B) the product of (1) the highest percentage change from the first day of one month to the first day of the next month for the preceding 12 month period in the quoted spot rate at which the Agent’s principal office in New York City offers to exchange Euro for US Dollars in New York City prior to 4:00 P.M. (New York City time) on such day, multiplied by (2) the aggregate Outstanding Balance of all UK Receivables denominated in Euro which are Eligible Receivables as set forth in the most recent Seller Report, plus (C) the product of (1) the highest percentage change from the first day of one month to the first day of the next month for the preceding 12 month period in the quoted spot rate at which the Agent’s principal office in New York City offers to exchange Sterling for US Dollars in New York City prior to 4:00 P.M. (New York City time) on such day, multiplied by (2) the aggregate Outstanding Balance of all UK Receivables denominated in Sterling which are Eligible Receivables as set forth in the most recent Seller Report.

Currency Reserve means, for any fiscal week or fiscal month of the Performance Guarantor, the product of :