Manufactured Payments Sample Clauses

Manufactured Payments. Where Income is paid in relation to any Loaned Securities or Collateral (other than Cash Collateral) on or by reference to an Income Payment Date Borrower, in the case of Loaned Securities, and Lender, in the case of Collateral, shall, on the date of the payment of such Income, or on such other date as the Parties may from time to time agree, (the “Relevant Payment Date”) pay and deliver a sum of money or property equivalent to the type and amount of such Income that, in the case of Loaned Securities, Lender would have been entitled to receive had such Securities not been loaned to Borrower and had been retained by Lender on the Income Payment Date, and, in the case of Collateral, Borrower would have been entitled to receive had such Collateral not been provided to Lender and had been retained by Borrower on the Income Payment Date unless a different sum is agreed between the Parties.
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Manufactured Payments. Where any Income is paid on any Settlement Securities which are the subject of a Settlement Facility, the Client will pay to MSI plc, on the payment date of any such Income, an amount of money equal to the same, together with an amount equal to any deduction, withholding or payment for or on account of any tax together with an amount equal to any tax credit associated with any such Income, unless MSI plc has agreed that an appropriate tax voucher may be provided in lieu of any such amount.
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Manufactured Payments. 1Paragraph 6.1 of the Agreement shall take effect as if it had been replaced by the following sub-paragraphs. Where Income is paid in relation to any Loaned Securities or Collateral (other than Cash Collateral) on or by reference to an Income Payment Date Borrower, in the case of Loaned Securities, and Lender, in the case of Collateral, shall, on the date of the payment of such Income, or on such other date as the Parties may from time to time agree, (the “Relevant Payment Date”) pay and deliver a sum of money or property equivalent to the type and amount of such Income that, in the case of Loaned Securities, Lender would have been entitled to receive had such Securities not been loaned to Borrower and had been retained by Lender on the Income Payment Date, and, in the case of Collateral, Borrower would have been entitled to receive had such Collateral not been provided to Lender and had been retained by Borrower on the Income Payment Date, unless a different sum is agreed by the parties. Sub-paragraphs (ii) and (iii) below shall apply in relation thereto. Any payment made pursuant to sub-paragraph (i) above shall be made without deduction or withholding for or on account of any Tax unless such deduction or withholding is required by any Applicable Law. When determining whether any deduction or withholding is required under sub-paragraph (ii) above, Borrower, in the case of Loaned Securities, or Lender, in the case of Collateral, shall (in each case acting reasonably) take account of: any warranties made by the other Party under this Addendum; and any relevant documentation, warranty, certification or notice provided by the other Party. For the purpose of this paragraph 6.1, Applicable Law means the laws, rules and regulations (including double taxation conventions) of any relevant jurisdiction, including published practice of any government or other taxing authority in connection with such laws, rules and regulations.
Sample 1
Manufactured Payments. 12.1. If the Investor holds a Long CFD Position through the last day to trade in respect of a dividend on the relevant underlying Reference Security, then: 12.1.1. on the applicable Ex-Dividend Date Investec will credit the Margin Account with a Manufactured Payment equal to the present value of the dividend; and 12.1.2. up to the date that the dividend on the underlying Reference Security is actually paid by the Reference Issuer, Investec will credit the Margin Account with a further Manufactured Payment equal to the remainder of the dividend paid less the Manufactured Payment already credited on the Ex-Dividend Date in accordance with clause 12.1.1 above. 12.2. If the Investor holds a Short CFD Position through the last day to trade in respect of a dividend on the relevant underlying Reference Security, then: 12.2.1. on the applicable Ex-Dividend Date, Investec will debit the Margin Account with a Manufactured Payment equal to the present value of the gross dividend; and 12.2.2. up to the date that the dividend on the underlying Reference Security is actually paid by the Reference Issuer, Investec will debit the Margin Account with a further Manufactured Payment equal to the remainder of the gross dividend paid less the Manufactured Payment already debited on the Ex-Dividend Date in accordance with clause 12.2.1 above. 12.3. It is the Investor’s responsibility to keep track of all Open CFD Orders, including Ex-Dividend Dates in respect of the Reference Securities underlying the Open CFD Orders. CFD Orders referencing a Reference Security, in respect of which the Ex-Dividend Date will occur on the following Business Day, will not be cancelled.
Sample 1
Manufactured Payments. Where Income is paid in relation to any of the Loaned Securities on or by reference to an Income Payment Date which occurs between the date of delivery of the Loaned Securities by the Lender to the Borrower and the date of the redelivery to the Lender of Equivalent Securities in respect of any such Loaned Securities by the Borrower, the Borrower shall, no later than three Business Days after the date on which the Income is paid by the Company to holders of its Shares, or on such other date as the Parties may from time to time agree (the “Relevant Payment Date”), pay and deliver to the Lender a sum of money or property equivalent to the type and amount of such Income that the Lender would have been entitled to receive had such Loaned Securities not been loaned to Borrower and had been retained by the Lender on the Income Payment Date without any deduction (the “Manufactured Dividend”) subject to paragraph 6.2 below. The payment of any Manufactured Dividend shall be made to the following account of the Lender (the “Lender’s Account”), or otherwise advised by the Lender prior to payment no less than two Business Days prior to payment: Bank: Standard Chartered Bank (Hong Kong) Limited Name of Account: China Mengniu Dairy Company Limited Account No.: 447-1-121042-2
Sample 1
Manufactured Payments. NET PAYING UK SECURITIES Lender, in relation to any Loan of Net Paying UK Securities, and Borrower, in relation to any Non-Cash Collateral in the form of any Net Paying UK Securities provided, warrants to the other Party on a continuing basis that, unless otherwise notified: (a) the person beneficially entitled to any payment made under paragraph 6.1(i) in respect of such Net Paying UK Securities is either: a UK resident company; or a non-UK resident company carrying on a trade in the UK through a permanent establishment which is required to bring any such payment made to it into account in computing its chargeable profits for UK corporation tax purposes; or (b) the person beneficially entitled to any payment made under paragraph 6.1(i) in respect of such Net Paying UK Securities is a partnership each member of which is a company mentioned in (a)(i) or (ii) above; or (c) the recipient of any payment made under paragraph 6.1(i) in respect of such Net Paying UK Securities is either: an ISA Manager or a PEP Manager, or the nominee of such a person, who receives such payment in respect of investments under the plan; or a scheme administrator of a Registered Pension Scheme.
Sample 1
Manufactured Payments. REIT SHARES Lender, in relation to any Loan of any REIT Shares, and Borrower, in relation to any Non-Cash Collateral in the form of any REIT Shares, warrants to the other Party on a continuing basis that, unless otherwise notified: (a) the person beneficially entitled to any payment made under paragraph 6.1(i) in respect of such shares is either: a UK resident company; or a non-UK resident company carrying on a trade in the UK through a permanent establishment which is required to bring any such payment made to it into account in computing its chargeable profits for UK corporation tax purposes; or (b) the recipient of any payment made under paragraph 6.1(i) in respect of such shares is a partnership each member of which is a company mentioned in (a)(i) or (ii) above; or (c) the recipient of any payment made under paragraph 6.1(i) in respect of such shares is either a scheme administrator of a Registered Pension Scheme or an ISA Manager or a PEP Manager and (in each case) any such payment is applied for the purposes of the scheme, account or plan in respect of which the recipient has duties.
Sample 1
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Manufactured Payments. PAIF SHARES Lender, in relation to any Loan of any PAIF Shares, and Borrower, in relation to any Non-Cash Collateral in the form of any PAIF Shares, warrants to the other Party on a continuing basis that, unless otherwise notified, the warranties in paragraphs 5 and 6 of this Addendum shall apply in relation to any payment made under paragraph 6.1(i) in respect of such shares as if such paragraphs referred to PAIF Shares.
Sample 1

Related to Manufactured Payments

  • Returned Payments If after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.21 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.21 shall survive the termination of this Agreement.

  • Misdirected Payments (a) In the event that the Parent or any Provider receives a Misdirected Payment in the form of a check, the Parent or such Provider shall immediately send such Misdirected Payment, in the form received by the Parent or such Provider, by hand or overnight delivery service to a Lockbox for deposit into the corresponding Lockbox Account. In the event the Parent or any Provider receives a Misdirected Payment in the form of cash or wire transfer, the Parent or such Provider shall immediately wire transfer the amount of such Misdirected Payment directly to the Lockbox Account. All Misdirected Payments shall be sent promptly upon receipt thereof, and in no event later than the close of business, on the first Business Day after receipt thereof. (1) If a Misdirected Payment in the form of a check is received by the Parent or any Provider more than six days after the date of such check with respect thereto, then the relevant Provider shall pay interest on such Misdirected Payment to the Purchaser from such sixth subsequent day to and including the date such check is received in the Lockbox Account, at a rate equal to LIBOR then in effect under the Loan Agreement. (2) Each Provider hereby agrees and consents to the Purchaser taking such actions as are reasonably necessary to ensure that future payments from the Obligor of a Misdirected Payment shall be made in accordance with the Notice to Obligors previously delivered to such Obligor, including, without limitation, to the maximum extent permitted by law, (i) the Purchaser, its assigns or designees, or any member of the HFG Group executing on such Provider's behalf and delivering to such Obligor a new Notice to Obligors, and (ii) the Purchaser, its assigns or designees, or any member of the HFG Group contacting such Obligor by telephone to confirm the instructions previously set forth in the Notice to Obligor to such Obligor. Upon the Purchaser's request, each Provider shall promptly (and in any event, within two Business Days from such request) take such similar actions as the Purchaser may reasonably request.

  • Required Payments Unless otherwise provided in this Agreement, any payment of Tax required shall be due within 30 days of a Final Determination of the amount of such Tax.

  • Yield Payments On the Settlement Date for each Purchaser Interest of the Financial Institutions, Seller shall pay to the Agent (for the benefit of the Financial Institutions) an aggregate amount equal to the accrued and unpaid Yield for the entire Tranche Period of each such Purchaser Interest in accordance with Article II.

  • Refused Payments We reserve the right to refuse to pay any Receiver. We will attempt to notify the Sender promptly if we decide to refuse to pay a Receiver designated by the Sender. This notification is not required if you attempt to make a prohibited payment under this Agreement.

  • Asset Dispositions Make any Asset Disposition, except: (a) the sale of obsolete, worn-out or surplus assets no longer used or usable in the business of the Borrower or any of its Restricted Subsidiaries; (i) non-exclusive licenses and sublicenses of intellectual property rights in the ordinary course of business not interfering, individually or in the aggregate, in any material respect with the conduct of the business of the Borrower and its Subsidiaries, (ii) exclusive licenses and sublicenses of intellectual property rights and other Asset Dispositions with respect to intellectual property granted or made in the ordinary course of business consistent with past practice or (iii) exclusive licenses and sublicenses, assignments of intellectual property rights and other Asset Dispositions with respect to intellectual property granted or made in the exercise of the Borrower’s reasonable business judgment, where such exclusive license, assignment or other Asset Disposition is not reasonably expected to have a Material Adverse Effect; (c) leases, subleases, licenses or sublicenses of real or personal property granted by the Borrower or any of its Restricted Subsidiaries to others in the ordinary course of business not interfering in any material respect with the business of the Borrower or any of its Restricted Subsidiaries; (d) Asset Dispositions in connection with Insurance and Condemnation Events; provided that the requirements of Section 4.4(b) are complied with in connection therewith; (e) Assets Dispositions in connection with transactions expressly permitted by Section 9.4; (f) Asset Dispositions not otherwise permitted pursuant to this Section; provided that (i) at the time of such Asset Disposition, no Event of Default shall exist or would result from such Asset Disposition and (ii) such Asset Disposition is made for Fair Market Value and the consideration received shall not be less than 75% in cash or Cash Equivalents; and (g) Asset Dispositions of accounts receivable transferred as part of a Permitted A/R Financing.

  • Guaranteed Payments To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.

  • Other Authorized Payments For other authorized transactions of the Fund, or other obligations of the Fund incurred for proper Fund purposes; provided that before making any such payment the Bank will also receive a certified copy of a resolution of the Board signed by an Authorized Person (other than the Person certifying such resolution) and certified by its Secretary or Assistant Secretary, naming the person or persons to whom such payment is to be made, and either describing the transaction for which payment is to be made and declaring it to be an authorized transaction of the Fund, or specifying the amount of the obligation for which payment is to be made, setting forth the purpose for which such obligation was incurred and declaring such purpose to be a proper corporate purpose.

  • Deferred Payments “Deferred Payments” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Delayed Payments The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.

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