Clearing Obligation definition

Clearing Obligation means an obligation imposed on a Clearing Participant under the Clearing Rules.
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Clearing Obligation means each and every obligation of any XX Xxxxxx Entity to you and of you to any XX Xxxxxx Entity in connection with any Clearing Transaction, or its acceleration, cancellation, termination or liquidation, whenever arising and whether fixed, liquidated, un-liquidated, matured, un- matured or contingent.
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Clearing Obligation means each and every obligation of any JP Morgan Entity to you and of you to any JP Morgan Entity in connection with any Clearing Transaction, or its acceleration, cancellation, termination or liquidation, whenever arising and whether fixed, liquidated, un-liquidated, matured, un- matured or contingent.
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Examples of Clearing Obligation in a sentence

  • Categories 1 and 4 CCPs have published the list of counterparties classified in Category 1 (see Section 1.3 of the Public Reg- ister on the Clearing Obligation).

  • For the purposes of satisfying the Clearing Obligation, EMIR requires derivative counterparties to become clearing members of a CCP, a client of a clearing member or to otherwise establish indirect clearing arrangements with a clearing member.

  • Such OTC derivative contracts also need to be of a class of derivative which has been designated by ESMA as being subject to the Clearing Obligation.

  • Whereas FCs and NFC+ entities may be subject to the Clearing Obligation or, to the extent that the relevant swaps are not subject to clearing, to the collateral exchange obligation and the daily valuation obligation under the Risk Mitigation Requirements, such obligations do not apply in respect of NFC- entities.

  • The Clearing Obligation applies to FCPs and certain Non-FCPs which have positions in OTC derivative contracts exceeding specified 'clearing thresholds'.

  • Whereas FCs and NFC+ entities may be subject to the Clearing Obligation or, to the extent that the relevant swaps are not subject to clearing, to the Collateral Obligation, such obligations do not apply in respect of NFC- entities.

  • On the basis of the Adopted Technical Standards, it is likely that the Issuer will be treated as a Non-FCP for the purposes of EMIR and the swap transactions to be entered into by it on the Closing Date will not exceed the "clearing threshold".A CCP will be used to meet the Clearing Obligation by interposing itself between the counterparties to the eligible OTC derivative contracts.

  • Whereas FCs (excluding small FCs) and NFC+ entities must clear OTC derivatives contracts that are entered into on or after the effective date for the relevant Clearing Obligation, such obligation does not apply in respect of NFC- entities.

  • Such requirements include, amongst other things, the mandatory clearing of certain OTC derivative contracts (the "Clearing Obligation") through an authorised central counterparty (a "CCP"), the reporting of OTC derivative contracts to a trade repository (the "Reporting Obligation") and certain risk mitigation requirements in relation to derivative contracts which are not centrally cleared.

  • If the classification of the Issuer changes and the Swap Agreement is regarded to be in-scope, then the Swap Agreement may become subject to the Clearing Obligation or (more likely) to the Collateral Obligation.


More Definitions of Clearing Obligation

Clearing Obligation means a clearing obligation in accordance with EMIR;
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Clearing Obligation means an obligation (including an obligation to pay money or deliver an asset) arising directly or indirectly from a Cash CCP Transaction or Derivatives CCP Contract and imposed on a Participant or ASX Clear, or both, under these Rules.
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Clearing Obligation means each and every obligation of any Bear Xxxxxxx entity to you and from you to any Bear Xxxxxxx entity in connection with any Clearing Transaction, or its acceleration, cancellation, termination or liquidation, whether arising hereunder, heretofore or hereafter or whether fixed, liquidated or contingent.
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Clearing Obligation means the obligation of counterparties referred to in Article 4, paragraph (1), item (a) of Regulation (EU) No 648/2012 to clear OTC derivatives that are subject to the clearing obligation in accordance with Article 4, paragraph (1) of Regulation (EU) No 648/2012
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Clearing Obligation means a clearing obliga- tion in accordance with EMIR;
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Related to Clearing Obligation

  • Clearing Agreement means Clearing, Settlement and Sponsorship Services Agreement by and between the Borrower and Fifth Third Bank dated as of July 27, 2016, as the same may be amended, modified, supplemented, restated, amended and restated or replaced from time to time.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Supporting Obligation means a letter-of-credit right or secondary obligation that supports the payment or performance of an account, chattel paper, a document, a general intangible, an instrument, or investment property.

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.

  • Supporting Obligations means supporting obligations (as such term is defined in the Code), and includes letters of credit and guaranties issued in support of Accounts, Chattel Paper, documents, General Intangibles, instruments or Investment Property.

  • Clearing Agent means Clearstream Banking AG, Euroclear Bank S.A., and Clearstream Banking S.A. and such further or alternative clearing agent(s) or clearance system(s) as may be approved by the Issuer from time to time and notified to the Holders in accordance with General Condition 4 (each a “Clearing Agent” and together the “Clearing Agents”);

  • Hedging Obligation means, with respect to any Person, any liability of such Person under any Hedging Agreement.

  • Existing Obligations means the “Obligations” under and as defined in the Existing Credit Agreement.

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.

  • Net Hedging Obligations means, as of any date, the Termination Value of any such Hedging Agreement on such date.

  • Foreign Clearing Agency means Clearstream and the Euroclear Operator.

  • Securities Account is any “securities account” as defined in the Code with such additions to such term as may hereafter be made.

  • Approved Clearing Agency means any other domestic clearing agency registered with the Securities and Exchange Commission under Section 17A of the Securities Exchange Act of 1934 which acts as a securities depository but only if the Custodian has received a certified copy of a resolution of the Board approving such clearing agency as a securities depository for the Trust.

  • Clearing Agency means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act.

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Foreign Depository means (a) Euroclear, (b) Clearstream Banking, societe anonyme, (c) each Eligible Securities Depository as defined in Rule 17f-7 under the Investment Company Act of 1940, as amended, identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Interest Swap and Hedging Obligation means any obligation of any Person pursuant to any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate exchange agreement, currency exchange agreement or any other agreement or arrangement designed to protect against fluctuations in interest rates or currency values, including, without limitation, any arrangement whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a fixed or floating rate of interest on a stated notional amount in exchange for periodic payments made by such Person calculated by applying a fixed or floating rate of interest on the same notional amount.

  • Controlled Securities Account means each securities account (including all financial assets held therein and all certificates and instruments, if any, representing or evidencing such financial assets) that is the subject of an effective Control Agreement.

  • Clearing Organization means (a) The Depository Trust Company, or, if agreed to by Borrower and Lender, such other “securities intermediary” (within the meaning of the UCC) at which Borrower (or Borrower’s agent) and Lender (or Lender’s agent) maintain accounts, or (b) a Federal Reserve Bank, to the extent that it maintains a book-entry system.

  • Clearing Corporation Security means securities which are in the custody of or maintained on the books of a Clearing Corporation or a nominee subject to the control of a Clearing Corporation and, if they are Certificated Securities in registered form, properly endorsed to or registered in the name of the Clearing Corporation or such nominee.

  • Control Account Agreement means any tri-party agreement by and among a Loan Party, the Administrative Agent and a depositary bank or securities intermediary at which such Loan Party maintains a Controlled Account, in each case in form and substance satisfactory to the Administrative Agent.

  • Foreign Securities Depository means a foreign securities clearing system qualifying as an Eligible Securities Depository (as defined in Section (b)(1) of Rule 17f-7 under the 0000 Xxx) that is listed on Schedule B annexed hereto, as amended from time to time pursuant to Section 4.5 hereof.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Excluded Hedging Obligation means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Guarantor or the grant of such security interest becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee or security interest is or becomes illegal.