Examples of LS Margin Account Agreement in a sentence
If an Adjustment Event has occurred, the Issuer will, as soon as reasonably practicable, determine in good faith and in a commercially reasonable manner whether in its opinion it is appropriate to make one or more adjustments to the terms of the Conditions of the ETP Securities to account for the economic effect on the LS Margin Account Agreement, the Portfolio Administration Agreement and the ETP Securities of the relevant Adjustment Event.
In respect of any claim against the Issuer in relation to the ETP Securities, with the exception of the Margin Loan Provider with respect to the LS Margin Account Agreement; the Programme Parties and the ETP Securityholders shall have recourse only to the Secured Property in respect of such ETP Securities, subject always to the Security, and not to any other assets of the Issuer.
With respect to the LS Margin Account Agreement, the Issuer and the Trustee have entered into a New York Law Margin Account Security Agreement.
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In respect of any claim against the Issuer in relation to the ETP Securities, with the exception of the Margin Loan Provider with respect to the LS Margin Account Agreement; the ProgrammeParties and the ETP Securityholders shall have recourse only to the Secured Property in respect of such ETP Securities, subject always to the Security, and not to any other assets of the Issuer.
If a Margin Account Termination Event is designated or occurs under the LS Margin Account Agreement, the last day on which the Issuer is required to accept a valid Subscription Order shall be the date of the notice designating such event.
If the Margin Loan Provider elects for the LS Margin Account Agreement to terminate on the last day of its scheduled term and such date falls before the Final Redemption Date of the ETP Securities the last day on which the Issuer is required to accept a valid Subscription Order shall be the fifth Exchange Business Day preceding the scheduled termination date of the LS Margin Account Agreement.
The LS Margin Account Agreement sets out, amongst other things, the terms on which the Margin Loan Provider will provide certain securities accounts, margin accounts, collateral accounts, margin loans and securities loans to the Issuer in respect of each Series of ETP Securities to which it is applicable.
Any issue of ETP Securities must be on terms that provide for the claims of the ETP Securityholders and the Programme Parties (with the exception of the claims of the Margin Loan Provider with respect to the LS Margin Account Agreement), in respect of such ETP Securities to be limited to the proceeds of the assets on which such ETP Securities are secured (see "Risk factors relating to the Security- Limited recourse obligations, non-petition and related risks" above).
The LS Margin Account Agreement does not contain limited recourse provisions with respect to the liabilities of the Issuer.