Agreement to Reconcile Portfolio Data Clause Samples
The Agreement to Reconcile Portfolio Data clause establishes a mutual obligation for parties to regularly compare and verify the accuracy of their respective records regarding a shared portfolio. In practice, this means both parties periodically exchange portfolio data, identify any discrepancies, and work together to resolve inconsistencies, ensuring that both sets of records are aligned. This clause is essential for maintaining data integrity, reducing the risk of disputes, and ensuring that both parties operate with a consistent understanding of the portfolio's status.
Agreement to Reconcile Portfolio Data. The parties agree to reconcile portfolios as required by the Portfolio Reconciliation Risk Mitigation Techniques.
(a) One-way Delivery of Portfolio Data. If one party is a Portfolio Data Sending Entity and the other party is a Portfolio Data Receiving Entity:
(i) on each Data Delivery Date, the Portfolio Data Sending Entity will provide Portfolio Data to the Portfolio Data Receiving Entity;
(ii) on each PR Due Date, the Portfolio Data Receiving Entity will perform a Data Reconciliation;
(iii) if the Portfolio Data Receiving Entity identifies one or more discrepancies which such party determines, acting reasonably and in good faith, are material to the rights and obligations of the parties in respect of one or more Relevant Transaction(s), it will notify the other party in writing as soon as reasonably practicable and the parties will consult with each other in an attempt to resolve such discrepancies in a timely fashion for so long as such discrepancies remain outstanding using, without limitation, any applicable updated reconciliation data produced during the period in which such discrepancy remains outstanding; and
(iv) if the Portfolio Data Receiving Entity does not notify the Portfolio Data Sending Entity that the Portfolio Data contains discrepancies by the Affirmation Deadline, the Portfolio Data Receiving Entity will be deemed to have affirmed such Portfolio Data at the Affirmation Deadline;
Agreement to Reconcile Portfolio Data. The parties agree to reconcile portfolios as required by the Portfolio Reconciliation Risk Mitigation Techniques.
Agreement to Reconcile Portfolio Data. (1) The parties agree to reconcile portfolios as required by the Portfolio Reconciliation Risk Mitigation Techniques.
(a) One-way Delivery of Portfolio Data
i. on each Data Delivery Date, the Portfolio Data Sending Entity will provide Portfolio Data to the Portfolio Data Receiving Entity;
ii. on each PR Due Date, the Portfolio Data Receiving Entity will perform a Data Reconciliation;
iii. if the Portfolio Data Receiving Entity identifies one or more discrepancies which such party determines, acting reasonably and in good faith, are material to the rights and obligations of the parties in respect of one or more Relevant Transaction(s), it will notify the other party in writing as soon as reasonably practicable and the parties will consult with each other in an attempt to resolve such discrepancies in a timely fashion for so long as such discrepancies remain outstanding, using, without limitation, any applicable updated reconciliation data produced during the period in which such discrepancy remains outstanding; and
iv. if the Portfolio Data Receiving Entity does not notify the Portfolio Data Sending Entity that the Portfolio Data contains discrepancies by 4p.m. local time in the place of business of the Portfolio Data Sending Entity on the fifth Joint Business Day following the later of the PR Due Date and the date on which the Portfolio Data Sending Entity provided such Portfolio Data to the Portfolio Data Receiving Entity, the Portfolio Data Receiving Entity will be deemed to have affirmed such Portfolio Data.
Agreement to Reconcile Portfolio Data. The parties agree that where, at any time, (A) both parties are OTCD Intermediaries, or (B) one party is an OTCD Intermediary and the other party is a Financial Counterparty, the parties shall reconcile portfolios of Relevant Transactions as required by the Portfolio Reconciliation Risk Mitigation Requirements at such time. For the avoidance of doubt, the portfolio reconciliation obligations in this Part 10(a)(1) shall not apply where neither (A) nor (B) applies at the relevant time. ISDA® 2002 48
(a) One-way Delivery of Portfolio Data. If one party is a Portfolio Data Sending Entity and the other party is a Portfolio Data Receiving Entity:
(i) on each Data Delivery Date, the Portfolio Data Sending Entity will provide Portfolio Data to the Portfolio Data Receiving Entity;
(ii) on each PR Due Date, the Portfolio Data Receiving Entity will perform a Data Reconciliation; and
(iii) if the Portfolio Data Receiving Entity identifies one or more discrepancies which such party determines, acting reasonably and in good faith, are material to the rights and obligations of the parties or to the valuations in respect of one or more Relevant Transaction(s), it will notify the other party in writing as soon as reasonably practicable and the parties will consult with each other in an attempt to resolve such discrepancies in a timely fashion for so long as such discrepancies remain outstanding, using, without limitation, any applicable updated reconciliation data produced during the period in which such discrepancy remains outstanding.
(iv) if the Portfolio Data Receiving Entity does not notify the Portfolio Data Sending Entity that the Portfolio Data contains discrepancies by 4 p.m. local time in the place of business of the Portfolio Data Sending Entity on the fifth Joint Business Day following the later of the PR Due Date and the date on which the Portfolio Data Sending Entity provided such Portfolio Data to the Portfolio Data Receiving Entity, the Portfolio Data Receiving Entity will be deemed to have affirmed such Portfolio Data.
Agreement to Reconcile Portfolio Data. Santander and the Counterparty agree to reconcile portfolios as required by the Portfolio Reconciliation Risk Mitigation Techniques.
Agreement to Reconcile Portfolio Data. The parties agree to monitor and reconcile any and all Relevant Transactions as required by the Portfolio Reconciliation Requirements. Foremost Markets shall be responsible for sending the Portfolio Data to the Client. The procedure in relation to reconciling the Relevant Transactions is as follows: