Common use of Rolled Transactions Clause in Contracts

Rolled Transactions. Where Equity Securities have been borrowed by you or on your behalf to cover settlement obligations, each Short Sale will be closed out upon notice, by you or us, of not less than the standard settlement period for the relevant Market or clearing organisation. When a Short Sale is closed out, you shall deliver or procure delivery of the relevant Equity Securities in accordance with our directions. Notice shall be deemed to have been given by you under this sub-clause, specifying delivery after expiry of such standard settlement period, if an Event of Default occurs or this Agreement is terminated.

Rolled Transactions. Where Equity Fixed Income Securities have been borrowed by you or on your behalf to cover settlement obligations, each Short Sale will be closed out upon notice, by you or us, of not less than the standard settlement period for the relevant Market or clearing organisation. When a Short Sale is closed out, you shall deliver or procure delivery of the relevant Equity Fixed Income Securities in accordance with our directions. Notice shall be deemed to have been given by you under this sub-clausesub­clause, specifying delivery after expiry of such standard settlement period, if an Event of Default occurs or this Agreement Agree­ ment is terminated.

Rolled Transactions. Where Equity Securities have been borrowed by you or on your behalf to cover settlement obligations, each Short Sale will be closed out upon notice, by you or us, of not less than the standard settlement period for the relevant Market or clearing organisation. When a Short Sale is closed out, you shall deliver or procure delivery of the relevant Equity Securities Secu­ rities in accordance with our directions. Notice shall be deemed to have been given by you under this sub-clausesub­clause, specifying delivery after expiry of such standard settlement period, if an Event of Default occurs or this Agreement is terminated.