Common use of FCM Clearing Members Clause in Contracts

FCM Clearing Members. To the extent that this Agreement is executed by an FCM Clearing Member that does not trade for its own account, such FCM Clearing Member acknowledges and agrees that it will be deemed a Participant hereunder upon accessing Documentation or when accessing the System or Services in order to liquidate Transactions and any resulting positions previously submitted to the Clearing House for the account of such FCM Clearing Member on behalf of a Nodal participant that has failed to perform its obligations to Nodal or such FCM Clearing Member (excluding, in either case, Sections 4.1 and 4.2 hereof, which shall not apply to such FCM Clearing Member).

FCM Clearing Members. To the extent that this Agreement is executed by an FCM Clearing Member that does not trade for its own account, such FCM Clearing Member acknowledges and agrees that it will be deemed a Participant hereunder upon solely for the purpose ofupon accessing Documentation or when accessing the System or Services in order to liquidate Transactions and any resulting positions previously submitted to the Clearing House for the account of such FCM Clearing Member on behalf of a Nodal participant that has failed to perform its obligations to Nodal or such FCM Clearing Member (excluding, in either case, Sections 4.1 and 4.2 hereof, which shall not apply to such FCM Clearing Member).. Rev. Sep 30, 2013July 9, 2015