Settlement Netting Sample Clauses

Settlement Netting. The settlement of each foreign exchange contract pursuant to this Agreement shall be performed by the netting settlement method in accordance with a separate agreement to be entered into between parties to this Agreement.

Settlement Netting. (a) Notwithstanding the foregoing, if the Parties agree in Part III of the Adherence Agreement that this Section 3.2 is applicable, and if, on any date, more than one delivery of a particular Currency under Currency Obligations is to be made between a pair of Offices, then each Party shall aggregate the amounts of such Currency deliverable by it and only the difference between these aggregate amounts shall be delivered by the Party owing the larger aggre- gate amount to the other Party, and, if the aggregate amounts are equal, no delivery of the Currency shall be made. (b) The provisions of this Section 3.2 shall not apply if a Closeout Date has occurred, or a vol- untary or involuntary Insolvency Proceeding or action of the kind described in Section 5(b), (c), or (d) has occurred, without being dis- missed in relation to either Party. (c) The provisions of this Section 3.2 shall apply notwithstanding that either Party may fail to record the new Currency Obligation in its books. (d) The provisions of this Section 3.2 are subject to any cutoff date and cutoff time agreed upon between the applicable Offices of the Parties.

Settlement Netting. The settlement netting provisions of Section 3.2 of the Terms shall not be effective unless otherwise specified in this Part III. [If such provisions are effective, the following Offices shall form the relevant branch pairs for the purposes thereof: Party A: Party B: And such provisions shall be effective as of [the Effective Date].]

Settlement Netting. Offices -------------------------- Each of the following shall be a Settlement Netting Office: Party A: Same as in Part II. Party B: Same as in Part II. B. Novation Netting Offices ------------------------ Each of the following shall be a Novation Netting Office: Party A: Same as in Part V-A. Party B: Same as in Part V-A.

Settlement Netting. If any delivery date on which the Customer is obligated to effect the sale to the Bank of a certain currency (“First Currency”) in exchange for another currency (“Second Currency”) pursuant to an individual foreign exchange transaction (“Transaction “A””) coincides with a delivery date on which the Bank is obligated to effect the sale to the Customer the First Currency in exchange for the Second Currency pursuant to another foreign exchange transaction (“Transaction “B””), the settlement of such contracts shall be performed automatically on a net payment basis in such manner as described below and the respective payment obligation of the Bank and the Customer under Transaction “A” and Transaction “B” shall be deemed to be satisfied and discharged on the delivery date by the net settlement.