Settlement failures Sample Clauses

Settlement failures. There may be circumstances beyond our control which mean that we are unable to settle your transactions (a settlement failure). If this occurs, we will notify you as soon as reasonably practicable, discuss with you your options for settlement and use our reasonable endeavours to settle the trade for you. However: i. there may be circumstances in which settlement is impossible or prevented by a third party or an exchange or irregular market conditions; ii. where the trade has to be settled through a settlement system, this may also mean that there is a significant delay in settlement or that settlement does not occur; and iii. you will remain liable for your obligations in relation to the transaction until settlement or other conclusion of the transaction occurs. In such circumstances we may enter into an identical trade with a separate counterparty, and where this is not possible, we may unwind the trade and adjust our books and records to reflect the status of the assets or cash we hold for you. Likewise, in accordance with the applicable regulations, and in particular, according to Regulation (EU) 909/2014 of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories, or any superseding regulation that may replace it, in the event of an unsuccessful settlement, the Central Securities Depositories may impose sanctions and compensations to the participants in order to facilitate a satisfactory settlement of the trades. In such cases, CaixaBank may charge to the Customer any fees, penalties or other costs arising from the event in case the Customer is the failing participant. In case the Customer is the receiving participant, CaixaBank may charge to the Customer whichever compensations arises for the event.
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Settlement failures. ‌ Failure to settle risks the reputation of the organisation and may bring the market into disrepute. Partial settlement is to be encouraged, however the counterparty retains the discretion to accept or reject a partial settlement. It is the obligation of the seller to immediately inform the buyer of any circumstance which threatens the settlement process (11:00am or as soon as known) so that the buyer, in the event the seller subsequently cannot deliver, can endeavour to cover the short position in the underlying security or make alternative arrangements that are agreeable to both counterparties. In the event of difficulties that arise towards end of day (after 3:00pm AEST) both counterparties must make all reasonable efforts to arrange alternatives. It is the obligation of the failing party to exercise due diligence to settle. If the failing party is offered bonds/securities to cover a fail then it is obliged to cover the fail by borrowing the offered bonds/securities. Dealers are expected at all times to be aware of the supply characteristics of any particular line of bonds/securities, and particularly be aware if a line is in short supply. If the repo rate on a particular line of bonds/securities falls, this is an indication of illiquidity and dealers should ensure that they have adequate bonds/securities available for future settlements. Dealers should not repo bonds/securities unless they believe that they can deliver those bonds/securities at settlement.
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Settlement failures. ‌ Failure to settle risks the reputation of the organisation and may bring the market into disrepute. Partial settlement is to be encouraged; however, the counterparty retains the discretion to accept or reject a partial settlement. It is the obligation of the seller to inform the buyer of any possibility of settlement default at an appropriate time (11:00am NZT) so that the buyer can endeavour to cover the short position in the underlying security or make alternative arrangements that are agreeable to both counterparties. In the event of difficulties that arise towards end of day (after 3:00pm NZT) both counterparties must make all reasonable efforts to arrange alternatives. It is the obligation of the failing party to exercise due diligence to settle. If the failing party is offered bonds/securities to cover a fail, then it is obliged to cover the fail by borrowing the offered bonds/securities. Dealers should be aware if a particular line of bonds/securities is in short supply. If the repo rate on a particular line of bonds/securities falls, this is an indication of illiquidity and dealers should ensure that they have adequate bonds/securities available for future settlements. Dealers should not repo bonds/securities unless they believe that they can deliver those bonds/securities at settlement.
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Settlement failures. If you are unable to settle a Digital Asset Transaction when required to do so, or if we are unable or it would be a contravention of Applicable Law, including AML/CTF Requirements for us to settle a Digital Asset Transaction when required to do so when acting on your Instruction, and if your and/or our best efforts to settle do not resolve the settlement failure, then we may in our sole discretion treat such settlement failure as an Event of Default in accordance with clause 20.2.
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Settlement failures. 6.1 If we have made the onward payment as part of the services under this Appendix (for example, paid the purchased currency into your Novatum Electronic Money Account or remitted a payment to your intended recipient) and, for any reason: 6.1.1. Xxxxxx refuses payment of any of the original currency, or any other sum due to us, 6.1.2. Xxxxxx demands the repayment from us of any sum paid to us, 6.2 Where any of the events referred to in 6.1 occur prior to us remitting the onward payment, we shall notify you as soon as practicable and, notwithstanding anything else in these Specific Terms, we will be under no obligation to perform such onward payment.
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Settlement failures. Customer understands and agrees that in the -------------------- event it fails to fully satisfy its settlement obligations in a timely manner as required by Section 2.08(a), above, IPS and/or Bank shall be entitled (but not obligated), immediately and without prior written notice to Customer or its Clients, to: (i) return all Checks for which Customer has failed to settle and all subsequently presented Checks; (ii) instruct any relevant clearing organization not to present and/or to return all subsequently presented Checks; (iii) pursue all other remedies set forth in this Agreement or any schedule or exhibit hereto; and (iv) pursue all other legal and equitable remedies, including, without limitation, reimbursement for the amount of any such Checks for which IPS is held responsible from Customer or Customer's Client(s), and to recover the actual and reasonable costs and expenses of exercising the preceding rights in clauses (i) through (iv). In any such event in which a partial settlement is received, IPS shall, in addition to the other remedies set forth or referred to herein, be permitted to allocate the partial settlement to such Checks as it deems appropriate in its sole and absolute discretion. TIME IS OF THE ESSENCE IN CUSTOMER'S FULFILLMENT OF ITS SETTLEMENT OBLIGATIONS HEREUNDER.
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Related to Settlement failures

  • Payment Failure Any Credit Party (i) fails to pay any principal when due under this Agreement or (ii) fails to pay, within three Business Days of when due, any other amount due under this Agreement or any other Credit Document, including payments of interest, fees, reimbursements, and indemnifications;

  • Equipment Failures In the event of equipment failures beyond the Administrator's control, the Administrator shall take reasonable and prompt steps to minimize service interruptions but shall have no liability with respect thereto. The Administrator shall develop and maintain a plan for recovery from equipment failures which may include contractual arrangements with appropriate parties making reasonable provision for emergency use of electronic data processing equipment to the extent appropriate equipment is available.

  • Epidemic Failure “Epidemic Failure” for any particular Product shall mean a failure resulting from defects in material, workmanship, and manufacturing process, including but not limited to the use of Components with known defects. The Epidemic Failure clause shall be invoked [***]. The failure rate may be calculated [***], as determined by BUYER. Epidemic failures do not supersede the requirements of any expressed or implied warranty defined herein. In the case of an epidemic failure, SUPPLIER’s obligation is to propose an action plan to fix the failure of any affected Product within seventy-two (72) hours of discovery. SUPPLIER shall implement this action plan upon BUYER’s acceptance thereof. If the action plan is not acceptable to BUYER, BUYER can require SUPPLIER to repair or replace, at BUYER’s option, the affected Product. In addition to bearing the costs associated therewith, if requested by BUYER, SUPPLIER shall support and provide at SUPPLIER’s expense a sufficient number of units of the Product to permit the field exchange or “hot swap” of Products at customer sites. The parties agree to make all reasonable efforts to complete the repair or replacement of all affected Products within eight (8) Business Days after written notice of epidemic failure by BUYER to SUPPLIER. SUPPLIER also agrees that BUYER will be supported with accelerated shipments of replacement Product to cover BUYER’s supply requirements. If an Epidemic Failure is caused by (i) a design, including a BUYER-provided test process, as required by the Specifications or (ii) a failure by a Component required by the Specifications, (iii) misuse or damage during transit or damage by a third party at no fault of SUPPLIER, SUPPLIER shall perform the obligations in this Section 10.5 and BUYER shall pay to SUPPLIER the fees mutually agreed upon by the parties in writing. If an Epidemic Failure is caused by any other reason other than as set forth in the immediately preceding sentence, SUPPLIER shall perform the obligations set forth in this Section free of charge. Confidential treatment is being requested for portions of this document. This copy of the document filed as an exhibit omits the confidential information subject to the confidentiality request. Omissions are designated by the symbol [***]. A complete version of this document has been filed separately with the Securities and Exchange Commission.

  • Retainage for Unacceptable Corrective Action Plan or Plan Failure If the corrective action plan is unacceptable to the Department or Customer, or implementation of the plan fails to remedy the performance deficiencies, the Department or Customer will retain ten percent (10%) of the total invoice amount. The retainage will be withheld until the Contractor resolves the performance deficiencies. If the performance deficiencies are resolved, the Contractor may invoice the Department or Customer for the retained amount. If the Contractor fails to resolve the performance deficiencies, the retained amount will be forfeited to compensate the Department or Customer for the performance deficiencies.

  • Epidemic Failure Warranty Supplier warrants all Products against Epidemic Failure for a period of three years after DXC’s Acceptance. Epidemic Failure means the occurrence of the same failure, defect, or non-conformity with an Order in 2% or more of Products within any three-month period.

  • Power Failure Power Failure means the failure of power or other utility service if the failure takes place off the "residence premises". But if the failure results in a loss, from a Peril Insured Against on the "residence premises", we will pay for the loss caused by that peril.

  • Termination Due to Force Majeure Event If the period of Force Majeure continues or is in the reasonable judgment of the Parties likely to continue beyond a period of 120 (one hundred and twenty) Days, the Parties may mutually decide to terminate this Agreement or continue this Agreement on mutually agreed revised terms. If the Parties are unable to reach an agreement in this regard, the Affected Party shall after the expiry of the said period of 120 (one hundred and twenty ) Days be entitled to terminate the Agreement in which event, the provisions of Articles 16 and 17 shall, to the extent expressly made applicable, apply.

  • Company’s Failure to Timely Convert If the Company shall fail to issue a certificate to the Holder or credit the Holder's balance account with DTC for the number of shares of Common Stock to which the Holder is entitled upon conversion of any Conversion Amount on or prior to the date which is five Business Days after the Conversion Date (a “Conversion Failure”), then the Company shall pay to the Holder payments (“Conversion Default Payments”) for a Conversion Failure in the amount of (i) (N/365), multiplied by (ii) an amount equal to the amount by which (x) the highest Closing Sale Price of the Common Stock during the period beginning on the date the Conversion Notice giving rise to the Conversion Failure in accordance with this Section 3(c)(ii) is transmitted (the “Conversion Failure Date”) and ending on the date immediately preceding the date on which the applicable Conversion Default Payment is made exceeds (y) the Conversion Price in respect of such Conversion Amount, multiplied by (iii) the number of shares of Common Stock the Company failed to so deliver in such Conversion Failure, multiplied by (iv) .18, where N equals the number of days from the Conversion Failure Date to the date that the Company effects the full conversion of the Conversion Amount which gave rise to the Conversion Failure. The accrued Conversion Default Payments for each calendar month shall be paid in cash to the Holder by the fifth day of the month following the month in which it has accrued. In addition to the foregoing, if within five Trading Days after the Company's receipt of the facsimile copy of a Conversion Notice the Company shall fail to issue and deliver a certificate to the Holder or credit the Holder's balance account with DTC for the number of shares of Common Stock to which the Holder is entitled upon such Holder's conversion of any Conversion Amount, and if on or after such Trading Day the Holder purchases (in an open market transaction or otherwise) Common Stock to deliver in satisfaction of a sale by the Holder of Common Stock issuable upon such conversion that the Holder anticipated receiving from the Company (a “Buy-In”), then the Company shall, within three Business Days after the Holder's request and in the Holder's discretion, either (i) pay cash to the Holder in an amount equal to the Holder's total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (the “Buy-In Price”), at which point the Company's obligation to deliver such certificate (and to issue such Common Stock) shall terminate, or (ii) promptly honor its obligation to deliver to the Holder a certificate or certificates representing such Common Stock and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Common Stock times (B) the Closing Sale Price on the Conversion Date. Nothing herein shall limit the Holder’s right to pursue actual damages for the Company’s failure to maintain a sufficient number of authorized shares of Common Stock or to otherwise issue shares of Common Stock upon conversion of this Note in accordance with the terms hereof, and the Holder shall have the right to pursue all remedies available at law or in equity (including a decree of specific performance and/or injunctive relief).

  • Prior Disaster Relief Contract Violation Under Sections 2155.006 and 2261.053 of the Texas Government Code (relating to convictions and penalties regarding Hurricane Xxxx, Hurricane Xxxxxxx, and other disasters), the Contractor certifies that the individual or business entity named in this Contract and any related Solicitation Response is not ineligible to receive this Contract and acknowledges that this Contract may be terminated and payment withheld if this certification is inaccurate.

  • Payment Delay Notwithstanding any other terms of this Agreement, no payments will be made to CONTRACTOR until COUNTY is satisfied that work of such value has been rendered pursuant to this Agreement. However, COUNTY will not unreasonably withhold payment and, if a dispute exists, the withheld payment shall be proportional only to the item in dispute.

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