Trade Acceptance. The applicable trade acceptance methodology for pur- poses of Section 4(c) of the Agreement shall be [choose one]: ❏ Upon satisfaction of the applicable conditions specified in Section 4(a), a Counterparty Transaction shall be deemed accepted by Prime Broker (an “Accepted Transaction”). Prime Broker shall have no obligation to notify Dealer of its acceptance of a Counterparty Transaction. ❏ Upon satisfaction of the applicable conditions specified in Section 4(a), a Counterparty Transaction shall be deemed accepted by Prime Broker (an “Accepted Transaction”). Prime Broker shall have no obligation to notify Dealer of its acceptance of a Counterparty Transaction; provided, however, that if Prime Broker does not notify Dealer of its acceptance or rejection of a Counterparty Transaction within a period equal to the Number of Hours of Prime Broker’s receipt of Dealer Notice, such Counterparty Transaction shall be deemed accepted by Prime Broker on the basis of the Material Terms set forth in Dealer Notice, subject to (a) the satisfactory resolution between Designated Party and Dealer of any mismatch between Dealer Notice and the Designated Party Notice and (b) the applicable conditions set forth in Section 4(a) having otherwise been met. ❏ Upon satisfaction of the applicable conditions specified in Section 4(a), a Counterparty Transaction shall be deemed accepted by Prime Broker (an “Accepted Transaction”). If Prime Broker does not notify Dealer of its acceptance or rejection of a Counterparty Transaction within a period equal to the Number of Hours of Prime Broker’s receipt of Dealer Notice, such Counterparty Transaction shall be deemed accepted by Prime Broker on the basis of the Material Terms set forth in Dealer Notice. Number of Hours for purposes of Part 5: [specify if applicable]
Trade Acceptance. Section 4(c) of the Agreement provides that the trade acceptance provisions selected in Part 5 of the Schedule will be applicable. These provisions determine whether the Prime Broker has any additional notification obligations that affect whether Counterparty Transactions will become Accepted Transactions. Part 5 contains three alternatives, each of which addresses the Prime Broker’s notification obligations with respect to Accepted Transactions. Importantly, each alternative provides that upon satisfaction of the applicable conditions specified in Section 4(a), a Counterparty Transaction shall be deemed accepted by the Prime Broker. This provision clarifies that if the Section 4(a) conditions are satisfied, the Counterparty Transaction must become an Accepted Transaction regardless of whether any notice is given by the Prime Broker. As a result, the Dealer has the contractual agreement of the Prime Broker that if those conditions are satisfied it will have a binding transaction between it and the Prime Broker. For that reason, the notice provisions set forth in these alternatives only affect those Counterparty Transactions that do not satisfy the Section 4(a) conditions and which would not otherwise be Accepted Transactions. Parties should select one of the three alternative provisions to apply in their Agreement, as the Agreement does not contain any fallback provision that specifies when a Counterparty Transaction is deemed accepted by a Prime Broker in this case. The first alternative provides that the Prime Broker does not have an obligation to notify the Dealer of its acceptance of a Counterparty Transaction. However, Prime Brokers and Dealers often develop practices outside of the give-up agreements between them regarding how the Prime Broker notifies the dealer of its acceptance of transactions. These practices, which can involve use of the confirmation process, are not restricted by electing this first alternative. The second alternative also provides that the Prime Broker does not have an obligation to notify the Dealer of its acceptance of a Counterparty Transaction. In addition, it adds that if the Prime Broker does not notify the Dealer of its acceptance or rejection of a Counterparty Transaction within the specified Number of Hours after receipt of the Dealer Notice, the Counterparty Transaction is deemed accepted by the Prime Broker based on the Material Terms included in the Dealer Notice if the applicable conditions set forth in Section 4(...
Trade Acceptance. DriveLoyalty may refuse to accept an order and/or refuse to execute a trade if we deem such action necessary to remain compliant with Applicable Law or if we determine, in our discretion, that there is a reasonable risk-based justification for doing so.
Trade Acceptance. The engineering services performed for Buyer resulting in items (“Deliverables”) delivered have to be taken over by Xxxxx, even if they have insignificant defects. The acceptance test shall be carried out by Buyer within fifteen (15) days, as of date of delivery and are subject to the delivery contract as of clause 1 above of this Terms. Should the take-over be delayed by reason of circumstances outside COYEROs responsibility, the written communication of readiness for dispatch by COYERO to Buyer shall be considered the date of delivery. In default of any written communication of inability to take delivery by Xxxxx within the time for taking delivery, the engineering services shall be deemed accepted. The criteria for acceptance or refusal shall be the specifications or test conditions jointly agreed upon or the delivery contract effective at the moment of placing of order.
Trade Acceptance. DriveWealth is not obligated to accept an order from Introducing Firm. We may, at our discretion, refuse to accept an order and/or refuse to execute a trade, including if we deem such action necessary to remain compliant with Applicable Law or if we determine, in our discretion, that there is a reasonable risk-based justification for doing so.
