Act on Financial Collateral Arrangements Sample Clauses

Act on Financial Collateral Arrangements. Netting of obligations under the ISDA Master Agreements may also be available pursuant to the Act on Financial Collateral Arrangements. The Act on Financial Collateral Arrangements applies to financial collateral in the form of (a) securities within the meaning of the Finnish Securities Market Act, (b) account money (i.e., funds credited to a cash account, including also foreign currencies) and (c) loan receivables (receivable based on loan issued by a Finnish or a foreign credit institution or an institution within the meaning of Article 2(1) subsection (o) of the Collateral Directive). The definition of securities generally covers all types of negotiable and fungible securities. The Act on Financial Collateral Arrangements (together with its preliminary works) explicitly recognises not only Finnish securities, but also foreign securities as suitable collateral. Further, the Act on Financial Collateral Arrangements is also applicable in respect of other types of collateral accepted by a central clearing counterparty in connection with collateral requirements pursuant to EU Regulation 648/2012 (EMIR) (collectively with the instruments in (a) to (c) in the above, (“Eligible Instruments”). In terms of counterparties, the Act on Financial Collateral Arrangements is applicable (i) where the collateral provider is an institution (in Finnish: laitos, as defined in the Act on Financial Collateral 23 Section 5 of the Recovery Act contains grounds for recovery where the parties have entered into arrangements in mala fide i.e., the parties have been aware of the insolvency of a party and of the fact that the arrangement is detrimental to the interests of the other party. Arrangements) or (ii) where the collateral taker is an institution and the collateral-provider is another type of legal person, provided further that the collateral is of the nature set forth in the Act on Financial Collateral Arrangements. The Act on Financial Collateral Arrangements permits parties to agree that “upon a debt having fallen due” all mutual obligations of the parties are netted or may be netted. Netting may include obligations that are secured by the relevant collateral arrangement (in Finnish: vakuusvelka) and delivery obligations relating to such collateral arrangements. Where the Act on Financial Collateral Arrangements is applicable, netting of obligations pursuant to such arrangements is available irrespective of the commencement of insolvency proceedings24 (against a collateral...
Sample 1
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Act on Financial Collateral Arrangements. Netting of obligations under the ISDA Master Agreements may also be available pursuant to the Act on Financial Collateral Arrangements. The Act on Financial Collateral Arrangements applies to financial collateral in the form of (a) securities within the meaning of the Finnish Securities Market Act, (b) account money (i.e., funds credited to a cash account, including also foreign currencies) and (c) loan receivables (receivable based on loan issued by a Finnish or a foreign credit institution or an institution within the meaning of Article 2(1) subsection (o) of the Collateral Directive). The definition of securities generally covers all types of negotiable and fungible securities. The Act on Financial Collateral Arrangements (together with its preliminary works) explicitly recognises not only Finnish securities, but also foreign securities as suitable collateral. Further, the Act on Financial Collateral Arrangements is also applicable in respect of other types of collateral accepted by a central clearing counterparty in connection with collateral requirements pursuant to EU Regulation 648/2012 (EMIR) (collectively with the instruments in (a) to (c) in the above, (“Eligible Instruments”). In terms of counterparties, the Act on Financial Collateral Arrangements is applicable (i) where the collateral provider is an institution (in Finnish: laitos, as defined in the Act on Financial Collateral Arrangements) or (ii) where the collateral taker is an institution and the collateral-provider is another type of legal person, provided further that the collateral is of the nature set forth in the Act on Financial Collateral Arrangements.
Sample 1

Related to Act on Financial Collateral Arrangements

  • Banking Arrangements The banking business of the Corporation including, without limitation, the borrowing of money and the giving of security therefor, shall be transacted with such banks, trust companies or other bodies corporate or organizations as may from time to time be authorized by the board. Such banking business or any part thereof shall be transacted under such agreements, instructions and delegations of powers as the board may from time to time prescribe or authorize.

  • CREDIT AND COLLATERAL EXCEPTIONS (1) Within ninety (90) days the Board shall obtain current and satisfactory credit information on all loans lacking such information, including those listed in the XXX, in any subsequent Report of Examination, in any internal or external loan review, or in any listings of loans lacking such information provided to management by the National Bank Examiners at the conclusion of an examination.

  • Funding Arrangements Minimum amounts/increments for Japan Local Currency Borrowings, repayments and prepayments: Same as Credit Agreement.

  • Financial Security Arrangements At least 20 Business Days prior to the commencement of the design, procurement, installation, or construction of a discrete portion of the Connecting Transmission Owner’s Interconnection Facilities and Upgrades, the Interconnection Customer shall provide the Connecting Transmission Owner, at the Interconnection Customer’s option, a guarantee, a surety bond, letter of credit or other form of security that is reasonably acceptable to the Connecting Transmission Owner and is consistent with the Uniform Commercial Code of the jurisdiction where the Point of Interconnection is located. Such security for payment shall be in an amount sufficient to cover the costs for constructing, designing, procuring, and installing the applicable portion of the Connecting Transmission Owner’s Interconnection Facilities and Upgrades and shall be reduced on a dollar-for-dollar basis for payments made to the Connecting Transmission Owner under this Agreement during its term. The Connecting Transmission Owner may draw on any such security to the extent that the Interconnection Customer fails to make any payments due under this Agreement. In addition:

  • Financing Arrangements (a) The Owner will obtain the Project Loan which shall be sufficient, together with the Owner's equity contributions, to pay the full amount of the costs to construct the Project in accordance with the development budget. The Owner and the Developer also contemplate that the Property and the Project, together with all fixtures, furnishing, equipment, and articles of personal property now owned or hereafter acquired by the Owner which are or may be attached to or used in connection with the Property or the Project, together with any and all replacements thereto and substitutions therefor, and all proceeds thereof; and all present and future rents, issues, leases, and profits of the Property and the Project will serve as security for the payment obligations to any lenders relating to the Project Loan or otherwise, and that the Owner will be the principal obligor for the repayment of all financial obligations thereunder after the transfer of title to the Owner. The Owner therefore, agrees to execute and deliver all commitments, promissory notes, mortgages, collateral assignments, documents, certificates, affidavits, and other writings required to be executed by any lender in connection with such financing.

  • Financing Arrangement 5.2.1 The Developer shall at its own cost, expenses and risk make such financing arrangement as would be necessary to implement the Project and to meet all of its obligations under this Agreement, in a timely manner.

  • Monitoring Arrangements 8.1 We will formally monitor the progress of the access agreement at least once a year through the Executive Group who report biannually to the Steering Group. Initial monitoring will be concerned with participation rates and the development of data on lower income and other under-represented groups, against which to monitor. When specific baselines, targets, and milestones are determined we will look to monitor against these.

  • Financial Arrangements 18. The Commonwealth will provide an estimated total financial contribution to the States of $54.928 million in respect of this Agreement. All payments are GST exclusive.

  • Individual Special Circumstance Arrangements Notwithstanding Article 2.02, the Home and the Union may agree in certain circumstances, to adjust the schedule of an individual full-time employee who normally works seventy five (75) hours bi-weekly, to enable an average bi-weekly work assignment of sixty (60) to seventy five (75) hours.

  • Administrative Arrangements 1. The Parties, through their respective competent authorities, shall establish administrative arrangements to implement this Agreement effectively. Such arrangements shall include the procedures necessary for the competent authorities to implement and administer this Agreement.

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