Common use of Covenant to Pay and Discharge Clause in Contracts

Covenant to Pay and Discharge. The SEOCH Participant covenants with SEOCH to pay and discharge all Secured Sums at the time or times when, and in the currency or currencies in which, the same are expressed to be payable under any contract, agreement or arrangement including, without limitation, any OCH Contract, the agreement between SEOCH and the SEOCH Participant relating to SEOCH Participantship required to be entered into under the Clearing Rules, the Clearing Rules, the Options Trading Rules the Operational Trading Procedures, the Operational Clearing Procedures or this deed, as the case may be.