Failed Trades Sample Clauses

Failed TradesIn the event that a Manual Purchase results in a Failed Trade (as hereinafter defined), Vanguard reserves the right, in its sole discretion, to cancel such Manual Purchase or the portion thereof that represents the Failed Trade. The Intermediary shall reimburse each VVIF Portfolio affected by a Failed Trade for any and all losses that it suffers as a result of such Failed Trade, including, but not limited to, any market losses. At a minimum, losses resulting from a Failed Trade shall be deemed to include an amount calculated as (x) the Purchase Amount minus the amount of any Federal Funds wire timely received by Vanguard in connection with the Failed Trade, multiplied by (y) the Federal Funds Effective Rate on the day of the Failed Trade, multiplied by (z) 1/360. For these purposes, “Federal Funds Effective Rate” shall mean the average federal funds rate, as computed by the Federal Reserve Bank of New York.
AutoNDA by SimpleDocs
Failed TradesIn the event that a Manual Purchase results in a Failed Trade (as hereinafter defined), the Fund Company reserves the right, in its sole discretion, to cancel such Manual Purchase or the portion thereof that represents the Failed Trade. Broker-Dealer shall reimburse each Fund affected by a Failed Trade for any and all losses that it suffers as a result of such Failed Trade, including, but not limited to, any market loss. At a minimum, losses resulting from a Failed Trade shall be deemed to include an amount as calculated as (x) the Purchase Amount minus the amount of any Federal Funds wire timely received by the Fund Company in connection with the Failed Trade, multiplied by (y) the Federal Funds Effective Rate on the day of the Failed Trade, multiplied by (z) 1/360.
Failed TradesIn the event that a DTC Participant Escrow CUSIP Holder certifies in writing to the Company that some or all of the Escrow CUSIPs identified on the SPRs as being established with respect to such DTC Participant Escrow CUSIP Holder (i) are in respect of shares of PSTH common stock or PSTH distributable redeemable warrants that were transferred from such DTC Participant Escrow CUSIP Holder (as seller) to another DTC Participant or other Person (as buyer) in a bona fide sale transaction on or before the close of trading on the NYSE on July 25, 2022 (or were required to be to be delivered to another DTC Participant or other Person (as deliveree) in respect of a bona fide stock loan or pledge of PSTH common stock or PSTH distributable redeemable warrants that were contractually required to be delivered on or before the close of trading on the NYSE on July 25, 2022) and (ii) such bona fide sale or other bona fide transaction failed to settle in a manner that permitted the Escrow CUSIPs to be validly established with respect to such DTC Participant or other Person (as buyer or deliveree, as applicable) on the applicable SPR, then the Company may, in its sole discretion and after submission to the Company of certifications of the DTC Participant Escrow CUSIP Holder reasonably acceptable to the Company as to the foregoing matters, instruct the SPAR Rights Agent in writing to reflect the SPARs relating to such Escrow CUSIPs to be issued to such DTC Participant or other Person (as buyer or deliveree, as applicable) on the SPAR Register (and to reduce the issuance of SPARs to the DTC Participant Escrow CUSIP Holder (as seller or deliveror, as applicable) in an equal amount); provided that no such issuance and reduction shall be permitted after the date that is 30 days from the effectiveness of the Registration Statement.
Failed Trades. If, in relation to a Corporate Action, any Failed Trades are outstanding in respect of Trust Assets and the relevant TA Signatory would, were it not for such failure to settle, have sold or transferred the Relevant Securities to one or more Third Parties, no action will be taken in respect of that Corporate Action unless each such Third Party gives, in a form satisfactory to the Company, its written consent to the proposed Corporate Action and waives any right of action against the Company Released Parties arising out of, in connection with, or as a result of, the carrying out of the Instructions.
Failed Trades. Upon the appointment of the Administrators, the Company failed to settle trades with certain counterparties, clearing systems and exchanges. The Administrators have undertaken very considerable work to ascertain the population of failed trades across depots under the Administrators’ control and to establish their impact, including in relation to Trust Assets. Under this workstream, the Administrators are reconciling the Company’s Books and Records to revise book entries to reflect real-world settlements so far as they are able. However, a significant proportion of these failed trades impacted stock lines held in depots over which the Company currently does not have control, including stock lines held by the Company through LBI.
Failed TradesIn the event that a Manual Purchase results in a Failed Trade (as hereinafter defined), Vanguard reserves the right, in its sole discretion, to cancel such Manual Purchase or the portion thereof that represents the Failed Trade. The Intermediary shall reimburse each Vanguard Fund affected by a Failed Trade for any and all losses that it suffers as a result of such Failed Trade, including, but not limited to, any market losses. At a minimum, losses resulting from a Failed Trade shall be deemed to include an amount calculated as (x) the Purchase Amount minus the amount of any Federal Funds wire timely received by Vanguard in connection with the Failed Trade, multiplied by (y) the Federal Funds Effective Rate on the day of the Failed Trade, multiplied by (z) 1/360. For these purposes, "Federal Funds Effective Rate" shall mean the average federal funds rate, as computed by the Federal Reserve Bank of New York. (i) A Failed Trade shall mean any Manual Purchase or portion thereof with respect to which Vanguard has not received the Purchase Amount in the form of a Federal Funds wire by 4:00 p.m. Eastern Time on T+1, "Federal Funds" shall mean monies credited to a Vanguard Fund's transfer agent bank by a Federal Reserve Bank.

Related to Failed Trades

  • SKILLED TRADES Note: The provisions of the Collective Agreement shall apply to the skilled trades except as altered by the provisions of this Article. 30.01 Skilled trade classifications for the purpose of this Collective Agreement will be as follows: 30.02 Seniority shall be by skilled trade classification, that is classifications will be non-interchangeable. 30.03 Employees entering a skilled trade classification shall have a seniority date as of the entry into such classification (including the apprenticeship period if such period was served in the Company). 30.04 A non-skilled trades (i.e. production) employee will not exercise his or her seniority rights in any skilled trade classification, nor will any skilled trades employee exercise seniority in any production classification after the date of ratification except as set forth in Article 31.07(d). 30.05 In the event that a skilled trades employee (i.e. apprentice or journeyman) is unable to perform his or her job as defined in Article 18, the provisions of Article 18 will apply. In no event will these provisions contravene the Human Rights Code. 30.06 The term 'journeyman' as used in this Article shall mean any person: (a) Who presently is in a skilled trades classification; or (b) Who has served a bona fide apprenticeship and has a certificate which substantiates his/her claim of such service; or (c) Who has had eight (8) years of practical experience and can prove same with proper affidavits. The Company will consider the possession of a CAW/UAW journeyman/woman card as presumptive proof of qualifications. 30.07 In the event of a reduction in the work force of any skilled trades classification, the following procedure will apply: (a) First, probationary journeyman within a classification shall be laid off; (b) Second, apprentices within a classification shall be laid off based upon the first to go will be the last who entered the program; (c) Third, if further reductions in a skilled trades classification are required, journeyman shall, in reverse order of seniority (junior employee first) in such a classification, be laid off. (d) In the event of a layoff, skilled trades journeyperson employees will be allowed one time only to displace production employees, provided that such skilled trades journeyperson employees are originally production employees and in accordance with Article 14 of this Agreement. Skilled trades journeyperson employees must return to their skilled trades jobs as soon as they are recalled. (e) In the event of the disqualification of an apprentice, he/she will be allowed, one time only, to displace a production employee, provided that such apprentice was originally a production employee and in accordance with Article 14 of this Agreement. 30.08 In the event that there is an increase in any skilled trade classification, recall shall be made in reverse order of seniority, commencing with journeyman then 30.09 In the event the Company acquires some advanced type of machinery or equipment that would call for special servicing by skilled trades employees, it is agreed that the skilled trades employees will be trained so that they may become familiar with the necessary repair and maintenance techniques required. In the case of initial installations of new equipment, processes, technology and warranty work, the Company will involve a minimum of one (1) skilled trades employee of each affected trade with the supplier's on-site personnel for training purposes. 30.10 (1) The Company and Union recognize the importance of the following principles: (i) The Company recognizes the Union's desire to perform all Skilled Trades work covered under the jurisdiction of this contract except as amended below. (ii) The Company will not use subcontracting as a method of eliminating overtime for Skilled Trade employees (iii) The parties recognize that where the Company meets its obligations as set forth in Article 31 (including overtime opportunities), there shall be no additional responsibility on the part of the Company to pay additional overtime to any other employee. However, where it is alleged that the Company has not met its obligations under Article 31, the employee concerned and/or Union shall have the right to seek redress under the grievance procedure.

  • Shift Trades 6.16.01 Employees may arrange for another employee to work their shift subject to the Manager's approval, consistent with the following: 6.16.01.01 Other than in exceptional circumstances, advice of the trade will be provided to the Manager in writing, in advance, and will be signed by the employees involved. 6.16.01.02 The employee who works a traded shift will be paid for the time worked at his/her rate of pay. 6.16.01.03 Overtime worked prior to or following a traded shift and premium credits on a holiday, in accordance with Article 7.03 and Article 13 respectively, will be credited to the employee who worked the shift as though the shift had been the employee's scheduled shift. 6.16.01.04 All recall credits will be credited to the employee who is recalled. 6.16.01.05 All time debits will be deducted from the employee who agreed to work the shift. 6.16.01.06 Company sick leave provisions will apply to the employee who agreed to work the shift and only to the amount provided for in such regulations. All time not worked in excess of one (1) full shift during a work day shall be debited in accordance with Article 6.16.01.05. 6.16.01.07 Shift trades may only be arranged between employees working in the same location except that, at locations with thirty (30) or less full-time employees, shift trades may be arranged by employees at these locations with employees at other locations within the same base and classification. Such shift trades may be granted subject to the employees concerned being qualified to perform the work function of the other party. 6.16.01.08 An employee's ability to trade shifts is not intended to allow employees to be absent from the work place for extended periods of time nor to take alternate employment. 6.16.01.09 Partial shift trades are permitted provided that no shift is split into more than two (2) parts. No more than two (2) employees may cover a single shift. Partial 6.16.01.10 It will be the sole responsibility of the employees to ensure that the introduction of partial shift trades has absolutely no adverse operational and customer service impact. 6.16.01.11 Under no circumstances shall an employee be allowed to leave his/her assigned duties or work area until their task is completed. His/her “shift trade partner” must be present and ready to take over their next assignment. This transition needs to be seamless to the customer. 6.16.01.12 There will not be additional meal or rest periods assigned to a shift subject to a partial shift trade. Meal and rest periods will be taken as scheduled. 6.16.01.13 A minimum of one (1) hour must be worked by one of the employees involved with a partial shift trade. 6.16.01.14 Any violation of the terms set out herein will result in the immediate suspension of the “partial shift trade privileges” for the employee. Such a measure will be deemed to be of an administrative nature and will not be grievable under any circumstances except as provided below. 6.16.01.15 Notwithstanding the above, the Union may file a grievance only to allege that the violation for which the partial shift trade privileges were revoked did not occur. The Union will bear the onus of the burden of proof in such circumstances. 6.16.01.16 Rules governing such other matters as deadlines for, and approval of, partial shift trade requests will be adopted locally.

  • Leave for Union Activities Upon request by the Union, leave without pay will be granted to any employee duly authorized to represent employees of this bargaining unit at: a) Executive, Council meetings or Conventions of the Union and Labour Education Seminars. A written request for such leave shall be submitted at least twenty (20) days in advance. Such leave shall be limited to a total of four (4) employees at any one time, and to a maximum aggregate total of four hundred and fifty (450) working hours in any calendar year. The maximum leave for any individual Union official shall not exceed sixty (60) hours and one hundred (100) working hours for an Executive Officer. The Company will consider reasonable requests from the Union to increase the individual and/or aggregate maximum. Such leave shall not constitute a break in continuity of service in seniority, severance pay, or other benefits under this Agreement. b) In order to attend the CEP National Convention every other year (or every third year) up to four (4) employees will be released and the maximum aggregate total of working hours may be increased by an additional one hundred thirty (130) working hours, exclusive of the individual limits in above to attend the CEP National Convention. The Company will be advised of the convention dates as far in advance as possible. A written request for such leave will be submitted to the Company at least sixty (60) days in advance. c) It is understood that operational requirements may prevent the release of particular employee(s) under this Article and in such case the Local Union shall be allowed to name the alternate(s), however such requests for leave will not be unreasonably denied. d) An employee on unpaid Union leave under this Article shall be compensated at his/her regular rate for the leave by the Company. The Company will then invoice the Union for reimbursement of such compensation which shall be paid by the Union within fifteen (15) days of the date of the invoice. e) In addition, up to one (1) employee may accept a full-time elective position with the Union or an official labour body for a period not exceeding two (2) years. Any additional yearly periods may be granted at the Company’s discretion upon receipt of a written request from the employee and the President of the Union. The Company may hire temporary employees to fill the vacancies created by such leave of absence. During the employee’s leave and subject to the limitations of the various benefit plans, the employee may continue to participate provided the employee prepays all premiums and contributions. During such leave the employee shall not accumulate seniority for the purpose of annual leave credits and severance pay.

  • Standard of Services All services to be rendered by SCM hereunder shall be performed in a professional, competent and timely manner subject to the supervision of the Board of Directors of the Corporation on behalf of the Funds. The details of the operating standards and procedures to be followed by SCM in the performance of the services described above shall be determined from time to time by agreement between SCM and the Corporation.

  • Trades Operator may, with approval of the Operating Committee, make well trades and data trades for the benefit of the Parties, with any data so obtained to be furnished to all Parties who participated in the cost of the data that was traded. Operator shall cause any third party to such trade to enter into an undertaking to keep the traded data confidential.

  • Competing Business Competing Business" means any financial institution or trust company that competes with, or will compete in any of the Counties with, the Bank or any affiliate of the Bank. The term "Competing Business" includes, without limitation, any start-up or other financial institution or trust company in formation.

  • Standard of Service As Agent for the Fund, you agree to provide service equal to or better than that provided by you or others furnishing shareholder services to other open-end investment companies ("Standard") at a fee comparable to the fee paid you for your services hereunder. The Standard shall include at least the following: (a) Prompt reconciliation of any differences as to the number of outstanding shares between various Facility records or between Facility records and records of an MFS Fund's Custodian; (b) Prompt processing of shareholder correspondence and of other matters requiring action by you; (c) Prompt clearance of any daily volume backlog; (d) Providing innovative services and technological improvements; (e) Meeting the requirements of any governmental authority having jurisdiction over you or the Fund; and (f) Prompt reconciliation of all bank accounts under your control belonging to the Fund or MFS. If any MFS Fund serviced by you is reasonably of the view that the service provided by you does not meet the Standard, it shall give you written notice specifying the particulars, and you then shall have 120 days in which to restore the service so that it meets the Standard, except that such period shall be 180 days with respect to meeting that portion of the Standard described above in item (d) of this paragraph 4. If at the end of such period the Fund remains reasonably of the view that the service provided by you, in the particulars specified, does not meet the Standard, then the MFS Fund or Funds having a majority of the accounts for which you are then Agent may, by appropriate action (including the concurrence of a majority of the Trustees or Directors, as the case may be, of such MFS Fund or Funds who are not interested persons of MFS), elect to terminate this Agreement for cause as to all such Funds upon 90 days notice to you. Upon termination hereof, the Fund shall pay you such compensation as may be due to you as of the date of such termination, and shall likewise reimburse you for any costs, expenses, and disbursements reasonably incurred by you to such date in the performance of your duties hereunder.

  • Separate Business CAC shall not: (i) fail to maintain separate books, financial statements, accounting records and other corporate documents from those of Funding; (ii) commingle any of its assets or the assets of any of its Affiliates with those of Funding (except to the extent that CAC acts as the Servicer of the Loans); (iii) pay from its own assets any obligation or indebtedness of any kind incurred by Funding (or the Trust); and (iv) directly, or through any of its Affiliates, borrow funds or accept credit or guaranties from Funding.

  • Enrolled Nurse (With Notation) Pay point 4 (a) Pay point 4 refers to the pay point to which an EN has been appointed.

  • Affiliation Contractor understands and agrees that it is not an "officer," "employee," or "agent" of the State of Oregon, as those terms are used in ORS 30.265 or otherwise.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!