Foreign Currency Hedge definition

Foreign Currency Hedge means any foreign exchange transaction, including spot and forward foreign currency purchases and sales, listed or over-the-counter options on foreign currencies, non-deliverable forwards and options, foreign currency swap agreements, currency exchange rate price hedging arrangements, and any other similar transaction providing for the purchase of one currency in exchange for the sale of another currency. Foreign Currency Hedge Liabilities shall have the meaning assigned in the definition of Lender Provided Foreign Currency Hedge. Foreign Lender shall mean (a) if the Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized under the Laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. GAAP shall mean generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.3 [Accounting Principles; Changes in GAAP], and applied on a consistent basis both as to classification of items and amounts. Guarantor shall mean each of the parties to this Agreement which is designated as a "Guarantor" on the signature page hereof and each other Person which joins this Agreement as a Guarantor after the date hereof. As of the Closing Date, EPAM Systems LLC, a New Jersey limited liability company, and Vested Development Inc., a Delaware corporation, are Guarantors. Guarantor Joinder shall mean a joinder by a Person as a Guarantor under the Loan Documents in the form of Exhibit 1.1(G)(1). Guaranty or Guarantee of any Person shall mean any obligation of such Person guaranteeing or in effect guaranteeing any liability or obligation of any other Person in any manner, whether directly or indirectly, including any agreement to indemnify or hold harmless any other Person, any performance bond or other suretyship arrangement and any other form of assurance against loss, except endorsement of negotiable or other instruments for deposit or collection in the ordinary course of business. Guaranty Agreement shall mean the Continuing Agreement of Guaranty and Suretyship in substantially the form of Exhibit 1.1(G)(2) executed and delivered by each of the Guarantors to the Administrative Agent for the benefit of the Lenders. Hedge Liabilities shall mean collectively, the Foreign Currency Hedge Liabilities and the Interest Rate Hedge Liabilities. ICC shall have the meaning specified in Section 10.11.1 [Governing Law]....

Examples of Foreign Currency Hedge in a sentence

Enter into any Interest Rate Hedge or Foreign Currency Hedge, other than for non-speculative purposes.
In addition, the Administrative Agent agrees to take such actions as are reasonably requested by TGI and at TGI’s expense to terminate the Liens and security interests created by the Loan Documents when all the Obligations (other than contingent indemnification Obligations and Obligations under Hedge Liabilities, Foreign Currency Hedge Liabilities and Other Bank Provided Financial Service Products) are Paid In Full and all Letters of Credit and Commitments are terminated.
Foreign Currency Hedge of Net Investments in Foreign Operations Group that is determined to be effective on the gain or loss arising from the hedging instrument related to the net investments in foreign subsidiaries operating in foreign countries is recognized directly in equity and the ineffective portion is recognized in the statement of profit or loss.
No Loan Party is a party to any Interest Rate Hedge or Foreign Currency Hedge, other than those Interest Rate Xxxxxx or Foreign Currency Xxxxxx, as applicable, which have been entered into for non-speculative purposes.
Each Borrower will not, and will not permit any of its Subsidiaries to, enter into any Interest Rate Hedge or Foreign Currency Hedge, except Interest Rate Xxxxxx and Foreign Currency Xxxxxx entered into in the Ordinary Course of Business and not for speculative purposes.

More Definitions of Foreign Currency Hedge

Foreign Currency Hedge means a contract which hedges the foreign exchange exposure of:• an unrecognized firm commitment (fair value hedge);• an available for sale security (fair value hedge);• a forecast transaction (cash flow hedge); or• a net investment in a foreign operation

Foreign Currency Hedge means any foreign exchange transaction, including spot and forward foreign currency purchases and sales, listed or over-the-counter options on foreign currencies, non-deliverable forwards and options, foreign currency swap agreements, currency exchange rate price hedging arrangements, and any other similar transaction providing for the purchase of one currency in exchange for the sale of another currency entered into by any Borrower, Guarantor and/or any of their respective Subsidiaries. Foreign Currency Hedge Liabilities shall have the meaning assigned in the definition of Lender-Provided Foreign Currency Hedge. Foreign Excluded Subsidiaries shall mean all Subsidiaries organized under the laws of a jurisdiction outside the United States of America, any State thereof, the District of Columbia, or Canada (or any province thereof). Foreign Lender shall mean (a) with respect to a Loan Party that is a “United States Person” as defined in section 7701(a)(30) of the Code (a “U.S. Person”), a Lender that is not a U.S. Person, and (b) with respect to a Loan Party that is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Loan Party is resident for tax purposes or in which such Loan Party is otherwise organized or formed. Foreign Pension Plan shall mean any benefit plan that under applicable law (other than the laws of the United States or any political subdivision thereof) is required to be funded through a trust or other funding vehicle other than a trust or funding vehicle maintained exclusively by a Governmental Authority and with respect to which the Company or any Subsidiary has any liability. Foreign Subsidiary shall mean any Subsidiary which is organized under the laws of a jurisdiction other than the United States of America, any State thereof or the District of Columbia. Formula Amount shall mean the US-Canada Formula Amount. Freedom shall mean Freedom Designs, Inc., a California corporation. Freedom Winddown shall mean the winddown and dissolution of Freedom. FSCO shall mean The Financial Services Commission of Ontario or like body in Canada or in any other province or territory or jurisdiction of Canada with whom a Canadian Pension Plan is required to be registered in accordance with Applicable Law and any other Governmental Body succeeding to the functions thereof. FTC shall have the meaning set forth in Section 5.31 hereof. GAAP shall mean generally accepted accounting principles in...

Foreign Currency Hedge means a currency exchange, forward swap, future, option, or similar agreements entered into by the Loan Parties or their Subsidiaries (a) for the purpose of hedging the foreign currency exposure associated with the Loan Parties' and their Subsidiaries' operations, and (b) not for speculative purposes."

Filter & Search

Related Definitions