Netting Contract. It is understood that this Agreement constitutes a “netting contract” and each payment entitlement and payment obligation under any Activity hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation”, respectively (except insofar as one or both of the parties is not a “financial institution” as that term is defined in the Federal Deposit Insurance Corporation Improvement Act of 1991).
Appears in 19 contracts
Samples: Institutional Account Agreement (Orion Futures Fund Lp), Institutional Account Agreement (Morgan Stanley Smith Barney Spectrum Technical Lp), Institutional Account Agreement (Managed Futures Premier Abingdon L.P.)
Netting Contract. It is understood that this Agreement constitutes a “netting contract” and each payment entitlement and payment obligation under any Activity hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation”, respectively (except insofar as one or both of the parties is not a “financial institution” as that term is defined in the Federal Deposit Insurance Corporation Improvement Act of 1991FDICIA).
Appears in 4 contracts
Samples: Institutional Account Agreement, Institutional Account Agreement (Global Indemnity PLC), Account Agreement (Global Indemnity PLC)
