Common Contracts
1 similar null contracts
fails to perform upon an event of de- fault, including upon receivership, in- solvency, liquidation, or similar pro- ceeding.November 17th, 2021
the CCP as a QCCP for up to three months following the determination. If the CCP fails to remedy the relevant deficiency within three months after the initial determination, or the CCP fails to satisfy the requirements set forth in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP con- tinuously for a three-month period after remedying the relevant defi- ciency, a national bank or Federal sav- ings association may not treat the CCP as a QCCP for the purposes of this part until after the national bank or Fed- eral savings association has deter- mined that the CCP has satisfied the requirements in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP for three continuous months.
