CLS Payment Instruction Value Today means an instruction input by a CLS Participant or CLS Bank as the case may be, or by virtue of a Special Posting or End of Day Net Settlement (for CLS Pay-outs only) to the Clearing House Computer for the effecting of a CLS Payment Instruction for value through CHATS as of the Working Day on which the instruction is received by the Clearing House Computer. For the avoidance of doubt, if the instruction is received between a CHATS Value Date Cut-off and the following CHATS Commencement, it will be deemed to be received on the Working Day pertaining to that CHATS Commencement and value today shall be construed accordingly.