Form of cash deposit. For collaterals that are provided in the form of a cash deposit in a dedicated Business Account the following conditions shall apply:
(a) the money shall be deposited in a dedicated Business Account at a financial institution selected by the Allocation Platform;
(b) the dedicated Business Account shall be opened and used in accordance with additional financial terms to be concluded between the Allocation Platform, or where relevant the financial institution and the Registered Participant;
(c) until withdrawal as permitted by the following provisions of Article 24, the cash deposit in the dedicated Business Account belongs to the Registered Participant if not stated otherwise in the additional financial terms in accordance with Article 15;
(d) withdrawals from the dedicated Business Account pursuant to Article 22 and Article 24 may be made solely on the instruction of the Allocation Platform;
(e) the dedicated Business Account may be used in addition for settlement as set forth in Article 53 upon request of the Allocation Platform; and
(f) interest on the amount deposited in the dedicated Business Account shall accrue for the benefit of the Registered Participant, after deduction of taxes and bank charges if any.
Form of cash deposit. For collaterals that are provided in the form of a cash deposit in a dedicated Business Account the following conditions shall apply:
(a) the money shall be deposited in a dedicated Business Account at a financial institution selected by the Allocation Platform;
(b) the dedicated Business Account shall be opened and used as per additional financial terms in accordance with Article 15;
(c) until withdrawal as permitted by the following provisions of Article 24, the cash deposit in the dedicated Business Account belongs to the Registered Participant if not stated otherwise in the additional financial terms in accordance with Article 15;
(d) withdrawals from the dedicated Business Account pursuant to Article 22 and Article 24 may be made solely on the instruction of the Allocation Platform;
(e) the dedicated Business Account may be used in addition for settlement as set forth in Article 49; and
(f) interest on the amount deposited in the dedicated Business Account shall accrue for the benefit of the Registered Participant, after deduction of taxes and bank charges if any.
Form of cash deposit. 1. For collaterals that are provided in the form of a cash deposit in a dedicated Business Account the following conditions shall apply:
(a) the money shall be deposited in a dedicated Business Account at a financial institution selected by the Single Allocation Platform;
(b) the dedicated Business Account shall be opened and used in accordance with additional financial terms to be concluded between the Single Allocation Platform, or where relevant the financial institution and the Registered Participant and shall only be used for Auction purposes;
(c) until withdrawal as permitted by the following provisions of Article 26, the cash deposit in the dedicated Business Account belongs to the Registered Participant if not stated otherwise in the additional financial terms in accordance with Article 17;
(d) withdrawals from the dedicated Business Account pursuant to Article 24 and Article 26 may be made solely on the instruction of the Single Allocation Platform;
(e) the dedicated Business Account may be used in addition for settlement as set forth in Article 65 upon request of the Single Allocation Platform; and
(f) interest on the amount deposited in the dedicated Business Account shall accrue for the benefit of the Registered Participant, after deduction of taxes and bank charges if any.
Form of cash deposit. For collaterals that are provided in the form of a cash deposit in a dedicated Business Account the following conditions shall apply:
Form of cash deposit. 1. For collaterals that are provided in the form of a cash deposit in a dedicated Business Account the following conditions shall apply:
(a) the money shall be deposited in a dedicated Business Account at a financial institution selected by the Allocation Platform;
(b) the dedicated Business Account shall be opened and used in accordance with additional financial terms to be concluded between the Allocation Platform, or where relevant the financial institution and the Registered Participant;
(c) until withdrawal as permitted by the following provisions of Article 26, the cash deposit in the dedicated Business Account belongs to the Registered Participant if not stated otherwise in the additional financial terms in accordance with Article 17;
(d) withdrawals from the dedicated Business Account pursuant to Article 24 and Article 26 may be made solely on the instruction of the Allocation Platform;
(e) interest on the amount deposited in the dedicated Business Account shall accrue for the benefit of the Registered Participant, after deduction of taxes and bank charges if any.
Form of cash deposit. 1. For collaterals that are provided in the form of a cash deposit in a dedicated Business Account the following conditions shall apply:
(a) the money shall be deposited on a dedicated Business Account at a bank selected by the Allocation Platform;
(b) the dedicated Business Account shall be opened and used in accordance with additional financial terms to be concluded between the Allocation Platform and the Registered Participant, or where relevant the financial institution and the Registered Participant;
(c) until withdrawal as permitted by the following provisions of Article 24, the cash deposit in the dedicated Business Account belongs to the Registered Participant if not stated otherwise in the additional financial terms in accordance with Article 15 ;
(d) withdrawals from the dedicated Business Account pursuant to Article 22 and Article 24 may be made solely on the instruction of the Allocation Platform;
(e) the dedicated Business Account may be used in addition for settlement as set forth in Article 45 upon request of the Allocation Platform; and
(f) interest on the amount deposited in the dedicated Business Account shall accrue for the benefit of the Registered Participant, after deduction of taxes and bank charges if any.
Form of cash deposit. For collaterals that are provided in the form of a cash deposit in a dedicated Business Account the following conditions shall apply:
(a) the money shall be deposited in a dedicated Business Account at a financial institution selected by the Allocation Platform and the Registered Participant shall pay all the amounts and payments to the Business Account from an account in its name with a credit institution based in the European Union, United Kingdom, European Economic Area or a country in which the Single Allocation Platform performs cross border auction services. The Registered Participant is obliged to select a financial institution which is subject to customer due diligence standards that are not less than those laid down in Directive (EU) 2015/849 as amended and which complies with them accordingly;
(b) the dedicated Business Account shall be opened and used in accordance with additional financial terms to be concluded between the Allocation Platform, or where relevant the financial institution and the Registered Participant and shall only be used for Auction purposes;
(c) until withdrawal as permitted by the following provisions of Article 25, the cash deposit in the dedicated Business Account belongs to the Registered Participant if not stated otherwise in the additional financial terms in accordance with Article 16;
(d) withdrawals from the dedicated Business Account pursuant to Article 23 and Article 25 may be made solely on the instruction of the Allocation Platform;
(e) the dedicated Business Account may be used in addition for settlement as set forth in Article 51 upon request of the Allocation Platform; and
(f) interest on the amount deposited in the dedicated Business Account shall accrue for the benefit of the Registered Participant, after deduction of taxes and bank charges if any.
