Common use of CLEARING TRANSACTIONS Clause in Contracts

CLEARING TRANSACTIONS. (a) Delivery of Trade Details; Risk; Settlement Payment. When XX Xxxxxx engages in Clearing Transactions for you: (i) you will furnish trade details in accordance with XX Xxxxxx’x requirements as to content, manner and timeliness of delivery, as may be established from time to time; (ii) written instructions to you from XX Xxxxxx shall include transmissions by or through facsimile transmission or delivered electronically (using the facsimile number or email address listed in our records); (iii) you shall bear all the risks and costs related to each Clearing Transaction, including non-performance by any Relevant Counterparty; (iv) unless XX Xxxxxx extends credit to you, no later than the time at which XX Xxxxxx becomes obligated to a Relevant Counterparty, you will provide XX Xxxxxx, and be responsible for, the settlement payment (including the necessary securities) to enable XX Xxxxxx to process, clear and settle the delivery of the securities and cash related to such Clearing Transaction, and any cash or securities necessary to meet a demand for margin made by any Relevant Counterparty. If either you or any Relevant Counterparty fails for any reason to settle the transaction and/or return any free delivery within a reasonable period of time, as determined by XX Xxxxxx, you will be solely liable to XX Xxxxxx for any and all loss, expenses or fail costs in connection therewith. XX Xxxxxx shall have no liability whatsoever to you in any such circumstance. Nothing contained herein shall be construed as imposing liability on any XX Xxxxxx Entity as a principal party in connection with any Clearing Transaction in which it is acting as agent and you shall not, under any circumstance, represent to any third party broker or dealer or any other entity that any XX Xxxxxx Entity acts as a guarantor of any such Clearing Transaction.

CLEARING TRANSACTIONS. (a) Delivery of Trade Details; Risk; Settlement Payment. When XX Xxxxxx engages in Clearing Transactions for you: (i) you will furnish trade details in accordance with XX Xxxxxx’x requirements as to content, manner and timeliness of delivery, as may be established from time to time; (ii) written instructions to you from XX Xxxxxx shall include transmissions by or through facsimile transmission or delivered electronically (using the facsimile number or email address listed in our records); (iii) you shall bear all the risks and costs related to each Clearing Transaction, including non-non- performance by any Relevant Counterparty; (iv) unless XX Xxxxxx extends credit to you, no later than the time at which XX Xxxxxx becomes obligated to a Relevant Counterparty, you will provide XX Xxxxxx, and be responsible for, the settlement payment (including the necessary securities) to enable XX Xxxxxx to process, clear and settle the delivery of the securities and cash related to such Clearing Transaction, and any cash or securities necessary to meet a demand for margin made by any Relevant Counterparty. If either you or any Relevant Counterparty fails for any reason to settle the transaction and/or return any free delivery within a reasonable period of time, as determined by XX Xxxxxx, you will be solely liable to XX Xxxxxx for any and all loss, expenses or fail costs in connection therewith. XX Xxxxxx shall have no liability whatsoever to you in any such circumstance. Nothing contained herein shall be construed as imposing liability on any XX Xxxxxx Entity as a principal party in connection with any Clearing Transaction in which it is acting as agent and you shall not, under any circumstance, represent to any third party broker or dealer or any other entity that any XX Xxxxxx Entity acts as a guarantor of any such Clearing Transaction.

CLEARING TRANSACTIONS. (a) A. Delivery of Trade Details; Risk; Settlement Payment. When XX Xxxxxx engages in Clearing Transactions for you: (ia) you will furnish trade details in accordance with XX Xxxxxx’x requirements as to content, manner and timeliness of delivery, as may be established from time to time; (iib) written instructions to you from XX Xxxxxx shall include transmissions by or through facsimile transmission or delivered electronically (using the facsimile number or email address listed in our records), central processing unit connection, on-line terminal, magnetic tape, Remote Clearance Instructions and Bulk Input Instructions; (iiic) you shall bear all the risks and costs related to each Clearing Transaction, including non-performance by any Relevant Counterparty; (ivd) unless XX Xxxxxx extends credit to you, no later than the time at which XX Xxxxxx becomes obligated to a Relevant Counterparty, you will provide XX Xxxxxx, and be responsible for, the settlement payment (including the necessary securities) to enable XX Xxxxxx to process, clear and settle the delivery of the securities and cash related to such Clearing Transaction, and any cash or securities necessary to meet a demand for margin made by any Relevant Counterparty. If either you or any Relevant Counterparty fails for any reason to settle the transaction and/or return any free delivery within a reasonable period of time, as determined by XX Xxxxxx, you will be solely liable to XX Xxxxxx for any and all loss, expenses or fail costs in connection therewith. XX Xxxxxx shall have no liability whatsoever to you in any such circumstance. Nothing contained herein shall be construed as imposing liability on any XX Xxxxxx Entity as a principal party in connection with any Clearing Transaction in which it is acting as agent and you shall not, under any circumstance, represent to any third party broker or dealer or any other entity that any XX Xxxxxx Entity acts as a guarantor of any such Clearing Transaction.