Settlement Failure. 8.1 The Authority reserves the right to levy a penalty fee on an Eligible Counterparty that fails to settle any of the legs of the confirmed transactions. The penalty fee for failure to settle the first leg of a transaction to obtain SGD shall be one (1) day’s interest on the transaction amount. The penalty fee for failure to settle the second leg of a transaction to obtain SGD shall be an interest charge for the number of days the outstanding amount (principal + interest) remains unsettled.
Settlement Failure. Should I/we fail to do so by the due settlement date, you and your Agents are hereby authorized, in your absolute discretion,
Settlement Failure. I/We will be responsible to you for and indemnify you and keep you indemnified against any losses, damages, demands, costs, fees and expenses in connection with any settlement failure.
Settlement Failure. If you fail to settle a Buy Order by not making full cleared Cash payment of the Settlement Value under Clause 4.2(a) by the Value Date, we may, at our sole discretion, sell the purchased Precious Metal and you irrevocably authorise us to sell the purchased Precious Metal and agree to reimburse us immediately on demand for all costs, losses, penalties, interest or liabilities incurred by us due to your failure to pay. We may deduct, at our sole discretion, any amount so owing from Cash held by us on your behalf.
Settlement Failure. Counterparty Failure --------------------------------------- In the event Refco has transmitted a Back-to-Back Transaction to the Clearing Corporation that becomes a Matching Back-to-Back Transaction but that (i) fails on settlement date due to failure of the counterparty to deliver securities or cash or (ii) fails to become a Matching Back-to-Back Transaction because of the failure of the counterparty to either Side One or Side Two to send to the Clearing Corporation adequate instructions required for settlement, but excluding in either case counterparty failure due to actual or impending bankruptcy or similar insolvency proceedings or credit issues ("Credit Failure Costs"), Introducing Firm shall be responsible for, and shall pay to Refco upon demand, all amounts constituting Refco's reasonable out-of-pocket costs (whether or not already paid), losses and expenses (including reasonable attorneys' fees) arising from such fail, including, without limitation, costs to buy-in, borrow or sell-out securities, to compel performance by the counterparty, to pay additional personnel or to pay overtime, but only if such personnel or overtime costs are beyond the ordinary course of business. All of the foregoing costs, losses, and expenses are referred to herein as the "Counterparty Failure Costs".
Settlement Failure. In the event that, following the failure of the selling broker to deliver on the settlement date, BOOM has to obtain in the open market Securities which it has purchased on your behalf, BOOM will be responsible for any difference in price and all incidental expenses in connection with such open market purchase.
Settlement Failure. 13.1 The Authority reserves the right to levy a penalty fee on an Applicant that fails to settle any legs of the confirmed transactions. The first leg of the confirmed transaction shall be deemed to have failed based on the conditions as stipulated in Clause 4.4 of Appendix A or Clauses 2.3, 3.1 and 3.2 of Appendix B, depending on the type of securities pledged by the Applicant. The penalty fee for failure to settle the first leg of a transaction (to deliver SGD cash or SGD securities to the Authority) shall be: Penalty fee for first leg settlement failure (in USD)= (Bid rate submitted at auction + 3% per annum) x (Tenor of transaction/360) x (Amount allotted at auction)
Settlement Failure
