Additional Settlement Account definition

Additional Settlement Account means an account opened and maintained by a Direct Participant with SI as specified in Rule 3.1.1 of the US Dollar Clearing House Rules which (a) is in addition to the Settlement Account; (b) has the characteristics set out in the Operating Procedures; (c) complies with the provisions contained in the Operating Procedures; and (d) is for the purpose of making or receiving certain types of payment identified as being the account to or from which the payment is made by the code in the payment instruction for that payment;
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Examples of Additional Settlement Account in a sentence

  • The settlement institution is SI and each Direct Participant shall open and keep a Settlement Account with SI and if agreed by SI a Direct Participant may open and keep an Additional Settlement Account with SI in each case in such manner and upon such terms and conditions as agreed between each Direct Participant and SI and MA for the purposes of settlement of payments effected through CHATS.

  • The settlement institution is SI and each Member shall open and keep a Settlement Account with SI and if agreed by SI a Member may open and keep an Additional Settlement Account with SI in each case in such manner and upon such terms and conditions as agreed between each Member and SI and MA for the purposes of settlement of payments effected through CHATS.

Related to Additional Settlement Account

  • Final Settlement Date has the meaning set forth in Section 3.1(e).

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Daily Settlement Amount for each of the 40 consecutive Trading Days during the Observation Period, shall consist of:

  • Mandatory Settlement Date means the earliest of:

  • Monthly Settlement Date means the 25th day of each calendar month (or if such day is not a Business Day, the next occurring Business Day).

  • Viatical settlement provider means a person, other than a viator, who enters into or effectuates a viatical settlement contract. Viatical settlement provider does not include:

  • Cash Settlement Amount means the “Cash Settlement Amount” as determined by the Calculation Agent in accordance with Paragraph 6.

  • Physical Settlement Amount For any Settlement Date for which Physical Settlement is applicable, an amount in cash equal to the product of (a) the Forward Price in effect on the relevant Settlement Date multiplied by (b) the Settlement Shares for such Settlement Date.

  • Gross Settlement Amount means $633,000.00 which is the total amount Defendant agrees to pay under the Settlement except as provided in Paragraph 9 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • Cash Settlement Averaging Period means the 20 Trading Day period beginning on the Trading Day following the final Trading Day of the Conversion Retraction Period.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Mandatory Redemption Settlement Date means, in respect of a Mandatory Redemption Event, the day that falls three Currency Business Days after the day on which the Issuer has received payment in full from the Margin Loan Provider of the amounts payable in respect of the termination of the LS Margin Account Agreement.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.