Common use of Crisis Management Clause in Contracts

Crisis Management. 1. The Eurosystem shall manage and resolve any operational disturbances in T2S. In addition, due to the central role which T2S plays in securities settlement in connected markets, the Eu- rosystem shall assume a coordinating role. In particular, it shall coordinate, initiate and lead activities in connection with any event of an operational or financial nature which may im- pact the functioning and performance of T2S. The Eurosystem shall use its best efforts to act to protect the functioning of T2S and to operate T2S in a way that supports the financial sta- bility of all connected markets.

Crisis Management. 1. The Eurosystem shall manage and resolve any operational disturbances in T2S. In addition, due to the central role which T2S plays in securities settlement in connected markets, the Eu- rosystem shall assume a coordinating role. In particular, it shall coordinate, initiate and lead activities in connection with any event of an operational or financial nature which may im- pact the functioning and performance of T2S. The Eurosystem shall use its best efforts to act to protect pro- tect the functioning of T2S and to operate T2S in a way that supports the financial sta- bility stability of all connected markets.

Crisis Management. 1. The Eurosystem shall manage and resolve any operational disturbances in T2S. In addition, due to the central role which T2S plays in securities settlement in connected markets, the Eu- rosystem shall assume a coordinating role. In particular, it shall coordinate, initiate and lead activities in connection with any event of an operational or financial nature which may im- pact impact the functioning and performance of T2S. The Eurosystem shall use its best efforts to act to protect the functioning of T2S and to operate T2S in a way that supports the financial sta- bility stability of all connected markets.