Common use of Netting Clause in Contracts

Netting. Any Transaction to which this Module applies shall, subject as follows, be deemed included in the definition of "Netting Transaction" for the purposes of this Agreement and subject to termination and liquidation under the clause headed "Netting" (the "Netting Clause") following an Event of Default. The Netting Clause shall not apply to any Transaction to the extent that action which conflicts with or overrides the provisions of the Netting Clause has been started in relation to that Transaction by a Market or clearing organisation under Applicable Regulations and is continuing.

Netting. Any Transaction to which this Module applies shall, subject as follows, be deemed included in the definition of "Netting Transaction" for the purposes of this Agreement and subject to termination and liquidation under the clause headed "Netting" (the "Netting Clause") following an Event of Default. The Netting Clause shall not apply to any Transaction in OTC Derivatives to the extent that action which conflicts with or overrides such Transaction has become subject to netting under the provisions terms of the Netting Clause has been started an ISDA Master Agreement in relation to that Transaction by a Market or clearing organisation under Applicable Regulations and is continuingplace between us.

Netting. Any Transaction to which this Module applies shall, subject as follows, be deemed included in the definition of "Netting Transaction" for the purposes of this Agreement and subject to termination and liquidation under the clause headed "Netting" (the "Netting Clause") following an Event of Default. The Netting Clause shall not apply to any Transaction in Fixed Income Securities to the extent that action which conflicts with or overrides such Transaction has become subject to close-out netting under the provisions terms of the Netting Clause has been started a GMRA in relation to that Transaction by a Market or clearing organisation under Applicable Regulations and is continuingplace between us.

Netting. Any Transaction to which this Module applies shall, subject as follows, be deemed included in the definition of "Netting Transaction" for the purposes of this Agreement and subject to termination and liquidation under the clause headed "Netting" (the "Netting Clause") following an Event of Default. The Netting Clause shall not apply to any Transaction in Equity Securities to the extent that action which conflicts with or overrides such Transaction has become subject to close-out netting under the provisions terms of the Netting Clause has been started a GMSLA in relation to that Transaction by a Market or clearing organisation under Applicable Regulations and is continuingplace between us.

Netting. Any Transaction to which this Module applies shall, subject as follows, shall be deemed included in the definition of "“Netting Transaction" ” for the purposes of this Agreement and subject to termination termina­ tion and liquidation under the clause headed "“Netting" (the "Netting Clause") ” following an Event of Default. The Netting Clause shall not apply to any Transaction to the extent that action which conflicts with or overrides the provisions of the Netting Clause has been started in relation to that Transaction by a Market or clearing organisation under Applicable Regulations and is continuing.