Common use of Contracts with CSDs Clause in Contracts

Contracts with CSDs. For the avoidance of doubt, the [NCB] acknowledges that pursuant to Article 16(3) of the T2S Guideline contracts with CSDs shall be approved by the Governing Council and subsequently signed by the Eurosystem Central Bank of the country where the seat of the CSD is located, or by the ECB for CSDs located outside the euro area, in either case acting in the name and on behalf of all Eurosystem Central Banks, and that, in relation to Ireland, the contract shall be signed by the Eurosystem Central Bank of the Member State that has notified the Securities Settlement System to ESMA in accordance with Article 10 of the Settlement Finality Directive.

Contracts with CSDs. ‌ For the avoidance of doubt, the [NCB] acknowledges that pursuant to Article 16(3) of the T2S Guideline contracts with CSDs shall be approved by the Governing Council and subsequently signed by the Eurosystem Central Bank of the country where the seat of the CSD is located, or by the ECB for CSDs located outside the euro area, in either case acting in the name and on behalf of all Eurosystem Central Banks, and that, in relation to Ireland, the contract shall be signed by the Eurosystem Central Bank of the Member State that has notified the Securities Settlement System to ESMA in accordance with Article 10 of the Settlement Finality Directive.

Contracts with CSDs. For the avoidance of doubt, the [NCB] Danmarks Nationalbank acknowledges that pursuant to Article 16(3) of the T2S Guideline contracts with CSDs shall be approved by the Governing Council Coun- cil and subsequently signed by the Eurosystem Central Bank of the country where the seat of the CSD is located, or by the ECB for CSDs located outside the euro area, in either case acting in the name and on behalf of all Eurosystem Central Banks, and that, in relation rela- tion to Ireland, the contract shall be signed by the Eurosystem Central Bank of the Member State that has notified the Securities Settlement System to ESMA in accordance with Article Ar- ticle 10 of the Settlement Finality Directive.