Designated Party Notice Sample Clauses

Designated Party Notice. The Designated Party Notice is the notice given by the Designated Party to the Prime Broker with respect to each transaction that it has executed with the Dealer. The Designated Party specifies the economic terms of the transaction in the same manner as the Dealer does in the Dealer Notice (although as discussed below the Agreement does not require them to be specified in the same format). This notice should not be confused with the Give-Up Agreement Notice, which is the notice that specifies the name of the Designated Party and the trading limits applicable to it. The Give-Up Agreement Notice is signed once by the Prime Broker and Dealer prior to the Prime Broker commencing the acceptance of give-ups for a Designated Party. In contrast, the Designated Party Notice, which does not need to be signed by the Designated Party or the Prime Broker, is given by the Designated Party each time it enters into a new trade with the Dealer. In the agreement between them, the Prime Broker and Designated Party may want to agree on the methods by which a Designated Party can send a Designed Party Notice to the Prime Broker, such as fax or electronic transmission.