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Acceptance rules Sample Clauses

Acceptance rules. (a) Where only one open Bid and one open Offer match, then: (i) the Bid and Offer are taken to have been accepted; and (ii) a Transaction is formed in which: (A) the Trading Participant that submitted the Offer is the Seller and the Trading Participant that submitted the Bid is the Buyer; and (B) the terms of the Transaction, subject to the partial acceptance rules in clause 13.1.4, are the terms of the earliest Order displayed in the form in which it was accepted (and whether one Order is earlier than another is determined by reference to the Time Stamp for each Order). (b) Where an open Bid matches one or more open Offers, then: (i) one or more Offers is taken to have been accepted as a consequence of the Bid, being the open Offer with the lowest price or, where the lowest price is common to two or more Offers, the Offer with the lowest price which was submitted first in time (as indicated by the most recent Time Stamp for each Offer); and (ii) when the Offer is accepted, a Transaction is formed in which: (A) the Trading Participant that submitted the Offer is the Seller and the Trading Participant that submitted the Bid is the Buyer; and (B) the terms of the Transaction, subject to the partial acceptance rules in clause 13.1.4, are the terms of the Offer. (c) Where an open Offer matches one or more open Bids, then: (i) one or more Bids is taken to have been “accepted” as a consequence of the Offer, being the open Bid with the highest price or, where the highest price is common to two or more Bids, the Bid with the highest price which was submitted first in time (as indicated by the most recent Time Stamp for each Bid); and (ii) when the Offer is accepted, a Transaction is formed in which: (A) the Trading Participant that submitted the Offer is the Seller and the Trading Participant that submitted the Bid is the Buyer; and (B) the terms of the Transaction, subject to the partial acceptance rules in clause 13.1.4, are the terms of the Bid.
Acceptance rules. The following acceptance rules apply to Spread Products in place of the rules in clause 13.1.3: (a) where only one open Bid for a Spread Product and one open Offer for a Spread Product match, the Spread Product Price is the price of the earliest Order displayed (determined by reference to the Time Stamp for each Order); (b) where an open Bid for a Spread Product matches one or more open Offers for a Spread Product, then the Spread Product Price is the price of the open Offer with the lowest price or, where the lowest price is common to two or more Offers, the Offer with the lowest price which was submitted first in time (as indicated by the most recent Time Stamp for each Offer); and (c) where an open Offer for a Spread Product matches one or more open Bids for a Spread Product, then the Spread Product Price is the price of the open Bid with the highest price or, where the highest price is common to two or more Bids, the Bid with the highest price which was submitted first in time (as indicated by the most recent Time Stamp for each Bid).
Acceptance rules. ‌ The following acceptance rules apply to Spread Products in place of the rules in clause 13.1.3:

Related to Acceptance rules

  • Applicable Rules Each Purchasing Entity will identify and utilize its own appropriate purchasing procedure and documentation. Contractor is expected to become familiar with the Purchasing Entities’ rules, policies, and procedures regarding the ordering of supplies and/or services contemplated by this Master Agreement.

  • Applicable Rules and Regulations The Account and each transaction therein shall be subject to the terms of this Agreement and to (a) all applicable laws and the regulations, rules and orders (collectively "regulations") of all regulatory and self-regulatory organizations having jurisdiction and (b) the constitution, by-laws, rules, regulations, orders, resolutions, interpretations and customs and usages (collectively "rules") of the market and any associated clearing organization (each an "exchange") on or subject to the rules of which such transaction is executed and/or cleared. The reference in the preceding sentence to exchange rules is solely for DWR's protection and DWR's failure to comply therewith shall not constitute a breach of this Agreement or relieve Customer of any obligation or responsibility under this Agreement. DWR shall not be liable to Customer as a result of any action by DWR, its officers, directors, employees or agents to comply with any rule or regulation.

  • ACCEPTANCE STANDARDS Inspection and acceptance/rejection of products shall be made within thirty (30) days of receipt or upon completion of installation should that installation period extend beyond thirty

  • THE RULES 4.1 Schedule 1 to this Agreement which sets out the Rules for the operation of Climate Change Agreements has effect. 4.2 The Sector Association agrees to comply with the Rules.

  • Acceptance Procedure Lessor hereby authorizes one or more employees of the related Lessee, to be designated by such Lessee, as the authorized representative or representatives of Lessor to accept delivery on behalf of Lessor of that Leased Property identified on the applicable Funding Request. Each Lessee hereby agrees that such acceptance of delivery by such authorized representative or representatives and the execution and delivery by such Lessee on each Closing Date for property to be leased hereunder of a Lease Supplement in substantially the form of Exhibit A hereto (appropriately completed) shall, without further act, constitute the irrevocable acceptance by such Lessee of that Leased Property which is the subject thereof for all purposes of this Lease and the other Operative Documents on the terms set forth therein and herein, and that such Leased Property, together with, in the case of Land, any Building or other improvements thereon or to be constructed thereon pursuant to the Construction Agency Agreement, shall be deemed to be included in the leasehold estate of this Lease and shall be subject to the terms and conditions of this Lease as of such Closing Date. The demise and lease of each Building pursuant to this Section 2.2 shall include any additional right, title or interest in such Building which may at any time be acquired by Lessor, the intent being that all right, title and interest of Lessor in and to such Building shall at all times be demised and leased to the related Lessee hereunder.

  • HOUSE RULES RESIDENT shall comply with all house rules as stated on separate addendum, but which are deemed part of this rental agreement, and a violation of any of the house rules is considered a breach of this agreement.

  • Acceptance; Rejection A holder of Notes may accept the offer to prepay made pursuant to this Section 8.3 by causing a notice of such acceptance to be delivered to the Company not later than 15 days after receipt by such holder of the most recent offer of prepayment. A failure by a holder of Notes to respond to an offer to prepay made pursuant to this Section 8.3 shall be deemed to constitute a rejection of such offer by such holder.

  • ACCEPTANCE AND REJECTION a. Buyer shall accept the Services or give Seller notice of rejection within a reasonable time after the date of delivery. No payment, prior test, inspection, passage of title, any failure or delay in performing any of the foregoing, or failure to discover any defect or other nonconformance shall relieve Seller of any obligations under this Contract or impair any rights or remedies of Buyer. b. If Seller delivers defective or non-conforming Services, Buyer may at its option and at Seller's expense: (i) require Seller to promptly reperform, correct or replace the Services; (ii) correct the Services; or (iii) obtain replacement Services from another source. Return to Seller of defective or non-conforming Services and redelivery to Buyer of corrected or replaced Services shall be at Seller's expense. c. Seller shall not redeliver corrected or rejected Services without disclosing the former rejection or requirement for correction. Seller shall disclose any corrective action taken. All repair, replacement and other correction and redelivery shall be completed as Buyer may reasonably direct.

  • Acceptance Procedures Based on the Reply Prices and Reply Amounts received by the Auction Agent prior to the applicable Auction Response Date, the Auction Agent, in consultation with the Auction Party, will determine the applicable price (the “Applicable Price”) for the Auction, which will be the lowest Reply Price for which the Auction Party can complete the Auction at the Auction Amount; provided that, in the event that the Reply Amounts are insufficient to allow the Auction Party to complete a purchase of the entire Auction Amount (any such Auction, a “Failed Auction”), the Auction Party shall either, at its election, (i) withdraw the Auction or (ii) complete the Auction at an Applicable Price equal to the highest Reply Price. The Auction Party shall purchase the relevant Term Loans (or the respective portions thereof) from each Lender with a Reply Price that is equal to or lower than the Applicable Price (“Qualifying Bids”) at the Applicable Price; provided that if the aggregate proceeds required to purchase all Term Loans subject to Qualifying Bids would exceed the Auction Amount for such Auction, the Auction Party shall purchase such Term Loans at the Applicable Price ratably based on the principal amounts of such Qualifying Bids (subject to rounding requirements specified by the Auction Agent in its discretion). If a Lender has submitted a Return Bid containing multiple bids at different Reply Prices, only the bid with the lowest Reply Price that is equal to or less than the Applicable Price will be deemed to be the Qualifying Bid of such Lender (e.g., a Reply Price of $100 with a discount to par of 1%, when compared to an Applicable Price of $100 with a 2% discount to par, will not be deemed to be a Qualifying Bid, while, however, a Reply Price of $100 with a discount to par of 2.50% would be deemed to be a Qualifying Bid). The Auction Agent shall promptly, and in any case within five Business Days following the Auction Response Date with respect to an Auction, notify (I) the Borrower of the respective Lenders’ responses to such solicitation, the effective date of the purchase of Term Loans pursuant to such Auction, the Applicable Price, and the aggregate principal amount of the Term Loans and the tranches thereof to be purchased pursuant to such Auction, (II) each participating Lender of the effective date of the purchase of Term Loans pursuant to such Auction, the Applicable Price, and the aggregate principal amount and the tranches of Term Loans to be purchased at the Applicable Price on such date, (III) each participating Lender of the aggregate principal amount and the tranches of the Term Loans of such Lender to be purchased at the Applicable Price on such date and (IV) if applicable, each participating Lender of any rounding and/or proration pursuant to the second preceding sentence. Each determination by the Auction Agent of the amounts stated in the foregoing notices to the Borrower and Lenders shall be conclusive and binding for all purposes absent manifest error.

  • ACCEPTANCE OF THE TERMS AND CONDITIONS 3.1 Before applying to PCUL’s products on our system, you should first carefully read and understand these Terms and Conditions which will govern the use and operation of our system and the products and services accessible thereof; 3.2 Thereafter, you will be required to register on our system. 3.3 By proceeding with registration, you are agreeing that you have accepted our Terms and Conditions on our official website. 3.3.1 Furthermore, you will be deemed to have read, understood and accepted these Terms and Conditions by following through all the prompts and completing a request transaction; 3.4 By accessing our system and completing a request, you agree to comply with and be bound by these Terms and Conditions and you affirm that these Terms and Conditions herein are without prejudice to any right that PCUL may have with respect to the services or products offered in Law or otherwise. 3.5 The Borrower acknowledges that he or she fully understands the provisions of this Agreement and has entered into it voluntarily for his or her own benefit. 3.6 By accepting these Terms and Conditions, you authorize PCUL to access your credit history from a registered Credit Reference Bureau. 3.7 These Terms and Conditions may be amended or varied by PCUL from time to time and the completion of requests and continued use of this service constitutes your agreement to be bound by the terms of any such amendment or variation.