FOREIGN EXCHANGE FLUCTUATIONS definition

FOREIGN EXCHANGE FLUCTUATIONS. The Arrangement and individual subfacilities may be used in any one or more freely transferable and convertible currencies. In the event that, by reason of foreign exchange fluctuations, the aggregate liabilities of the Borrowers to the lending branches shall exceed the maximum principal amount specified above (as calculated by us, based on our spot rates from time to time for the relevant currencies) we will so inform you and you will arrange to reduce the aggregate liabilities of the Borrowers to the lending branches to or below the limit specified above. You agree that you will accomplish that reduction as quickly as possible and in any event within ten days of receipt of the respective notice from us.
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Related to FOREIGN EXCHANGE FLUCTUATIONS

  • Foreign Exchange (FX) or “FX-like” Service means a retail service offering which allows FX End Users to obtain Exchange Service from a mandatory local calling area other than the mandatory local calling area where the FX End User is physically located, but within the same LATA as the number that is assigned. FX Service enables particular End Users to avoid what might otherwise be toll calls between the FX End User’s physical location and other End Users in the foreign exchange.

  • Foreign Exchange (FX) means a service whereby calls either originated by or delivered to a customer who has purchased FX service from the state or interstate tariffs of either Party. FX also includes, but is not limited to, FX-like services provided by either Party where calls are originated from and/or delivered to numbers which are assigned to a Rate Center within one local calling area but where the Party receiving the call is physically located outside of that local calling area. FX service can be either interLATA or intraLATA. InterLATA FX, where the originating and receiving parties are physically located in different LATAs, is considered equivalent to FGA and the intercarrier compensation mechanism is the same as FGA. IntraLATA FX, when provided by two or more local exchange carriers “LECs”, is considered a jointly provided service and meet-point billed by those providing it utilizing a mutually agreed to meet-point billing, or meet-point billing like procedure.

  • Foreign Exchange Rate means for any day that rate for the currency in question as published at 12:00 Eastern Standard Time, by the Bank of Canada in the City of Ottawa.

  • Between merchants means in any transaction with respect to which both parties are chargeable with the knowledge or skill of merchants.

  • Swaps means, with respect to any Person, payment obligations with respect to interest rate swaps, currency swaps and similar obligations obligating such Person to make payments, whether periodically or upon the happening of a contingency. For the purposes of this Agreement, the amount of the obligation under any Swap shall be the amount determined in respect thereof as of the end of the then most recently ended fiscal quarter of such Person, based on the assumption that such Swap had terminated at the end of such fiscal quarter, and in making such determination, if any agreement relating to such Swap provides for the netting of amounts payable by and to such Person thereunder or if any such agreement provides for the simultaneous payment of amounts by and to such Person, then in each such case, the amount of such obligation shall be the net amount so determined.