Pledge – Pledge. If (i) the Respective Securities have been pledged to Eurex Clearing AG by the Clearing Member under the Current Clearing Model Provisions and (ii) the terms of the New Clearing Model Provisions require Margin in the form of securities to be pledged to Eurex Clearing AG, the following shall apply: The Respective Securities shall become subject to a right of pledge in favour of Eurex Clearing AG granted to it by the Clearing Member under the terms of a pledge agreement satisfactory to Eurex Clearing AG that Eurex Clearing AG and the Clearing Member have separately entered into or will enter into prior to the end of the Change Date.
Appears in 4 contracts
Samples: Clearing Model Change Agreement, Clearing Model Change Agreement, Clearing Model Change Agreement
