Multilateral Character of T2S Sample Clauses

Multilateral Character of T2S. 1. The Parties acknowledge that T2S is multilateral in character in that it aims at facilitating European post-trading integration by supporting securities settlement in Central Bank Money, thereby combining the interests of Central Banks, Participating CSDs and all other T2S Ac- tors. The Parties agree that actions that would have a material negative impact on any of the Connected NCBs or would not be in line with the aim of achieving securities settlement in Central Bank Money are incompatible with the Multilateral Character of T2S. The T2S Ser- vices shall be provided to Connected NCBs on the basis of uniform requirements and Gov- ernance rules, which include a framework for Specific Changes. 2. The Parties acknowledge that this Agreement shall not cover nor affect or prejudice any cur- rent or future role or policy or the exercise of any rights and discretions or obligations of the [NCB] and the Eurosystem, or require the disclosure of any information in the possession of the [NCB] and the Eurosystem in its capacity as operator of a Securities Settlement System or as a T2S User or T2S Actor, except where otherwise provided in this Agreement. 3. The Parties also acknowledge that this Agreement does not cover or affect or prejudice any current or future role or policy or the exercise of any rights and discretions or obligations of the [NCB] or the Eurosystem, or require the disclosure of any information in the possession of the [NCB] or the Eurosystem, with respect to its tasks or responsibilities under the Treaty or applicable law (including, for monetary policy, the supervision or oversight of payment and securities settlement or clearing systems and financialstability). 4. The [NCB] shall take, to the extent within the powers of the [NCB], all reasonable measures in relation to Legal and Regulatory Requirements, so that securities transactions in [currency] can be settled in T2S in Central Bank Money in accordance with the process specified in Schedule 4 and by the time stipulated in Schedule 2, as further specified in Article 15, as well as in order to make efficient use of T2S Services and to maintain the Multilateral Char- acter of T2S. 5. The [NCB] shall not prevent the Eurosystem from entering into one or more Parallel CPAs. 6. The Eurosystem shall inform the [NCB] reasonably in advance whenever an Eligible NCB enters into a CPA with the Eurosystem or a CSD enters into a Framework Agreement with the Eurosystem. 7. Notwithstanding the common under...
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Multilateral Character of T2S. 1 The Parties acknowledge that T2S is multilateral in character in that it aims at facilitating European post-trading integration by supporting cash and securities settlement in Central Bank Money, thereby combining the interests of Participating CSDs, Central Banks and all other T2S Actors. The Parties agree that actions that would have a material negative im- pact on any of the CSDs participating in T2S or would not be in line with the aim of achieving securities settlement in Central Bank Money are incompatible with the Multilat- eral Character of T2S. The T2S Services shall be provided to CSDs participating in T2S on the basis of uniform requirements and Governance rules, which include a framework for Specific Changes. The Contracting CSD acknowledges that the Eurosystem will offer Par- allel Framework Agreements to all CSDs that are eligible to use the T2S Services in ac- cordance with the conditions set out in Article 5.
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Multilateral Character of T2S. 1 The Parties acknowledge that T2S is multilateral in character in that it aims at facil- itating European post-trading integration by supporting cash and securities settle- ment in CeBM, thereby combining the interests of Signatory CSDs, Central Banks and all other T2S Actors. The Parties agree that actions that would have a material negative impact on any of the Signatory CSDs or would not be in line with the aim of achieving securities settlement in CeBM are incompatible with the Multilateral Character of T2S. The T2S Services shall be provided to the Signatory CSDs on the basis of uniform requirements and Governance rules, which include a framework for Specific Changes. The Contracting CSD acknowledges that the Eurosystem will offer Parallel T2S Framework Agreements to all CSDs that are eligible to use the T2S Services in accordance with the conditions set out in Article 5.
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