Currency Participant definition

Currency Participant means, in respect of a specific SwapClear currency, a Non- Defaulting Clearing Member who at the time the Clearing House declares a Default has SwapClear Contracts for that SwapClear currency registered in its name.
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Examples of Currency Participant in a sentence

  • With respect to any Foreign Currency Participant, the Foreign Currency Fronting Bank will make such Foreign Currency Participant’s Revolving Commitment Percentage of each applicable Foreign Currency Loan on behalf of such Foreign Currency Participant for the account of the applicable Borrower, in the applicable Foreign Currency (each such Foreign Currency Loan a “Fronted Foreign Currency Loan”).

  • If and to the extent that there are Auction Losses outstanding following the attribution process referred to in Regulation 204(b)(v)(D) above, those remaining Auction Losses will be allocated to the Original Contributions of each Clearing Member who is not a Currency Participant in any of the Losing Currencies based upon the proportion that (x) the value of each such Original Contribution bears to (y) the aggregate of the amounts calculated in (x) for each of such Clearing Members.

  • If and to the extent that there are Auction Losses outstanding following the attribution process referred to in Regulation 204(b)(v)(G) above, those remaining Auction Losses will be allocated to the Unfunded Contributions of each Clearing Member who is not a Currency Participant in any of the Losing Currencies based upon the proportion that (x) the value of each such Unfunded Contribution bears to (y) the aggregate of the amounts calculated in (x) for each of such Clearing Members.

  • If such amount is not in fact made available to the Foreign Currency Fronting Bank by any Foreign Currency Participant, the Foreign Currency Fronting Bank shall be entitled to recover such amount on demand from such Foreign Currency Participant, together with accrued interest thereon for each day from the date of demand thereof, at the Federal Funds Rate if paid within two Business Days of the date of demand thereof, and thereafter at a rate equal to the Alternate Base Rate.

  • Currency: Participant understands that, any amounts related to the Option will be denominated in U.S. dollars and will be converted to any local currency using a prevailing exchange rate in effect at the time such conversion is performed, as determined by the Company.

  • If Fronting Lender recovers any amount for which Fronting Lender has previously been reimbursed by a Foreign Currency Participant hereunder, Fronting Lender shall promptly distribute to each such Foreign Currency Participant such Foreign Currency Participant’s proportionate share thereof based on its Foreign Currency Participation.

  • The Clearing Member agrees to use all reasonable efforts to make a bid in an Auction for an Auction Portfolio in respect of which such Clearing Member is a Currency Participant.

  • If such amount is not in fact made available to the Foreign Currency Fronting Bank by any Foreign Currency Participant, the Foreign Currency Fronting Bank shall be entitled to recover such amount on demand from such Foreign Currency Participant, together with accrued interest thereon for each day from the date of demand thereof, at the Federal Funds Rate if paid within two Business Days of the date of demand thereof, and thereafter at a rate equal to the Base Rate.

  • If and to the extent that there are Auction Losses outstanding following the attribution process referred to in 2.5(d) above, those remaining Auction Losses will be allocated to the Original Contributions of each SCM who is not a Losing Original SCM Currency Participant in respect of any of the Losing AP TypesCurrencies based upon the proportion that (a) the value of each such Original Contribution bears to (b) the aggregate of the amounts calculated in(a) for each of such SCMs.

  • A certificate of Fronting Lender submitted to any Foreign Currency Participant with respect to any amounts owing under this subsection 2.1A(v) shall be conclusive in the absence of manifest error.

Related to Currency Participant

  • Clearing Agency Participant means a broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency.

  • Clearing Participant means a person admitted as a participant under the Clearing Rules.

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Participant has the meaning specified in Section 10.06(d).

  • A Participant or beneficiary ("claimant") who has not received benefits under the Plan that he or she believes should be paid shall make a claim for such benefits as follows:

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

  • Study Participant means a person recruited to participate in the Study.

  • Designated Participant means a key Employee of the Company or any other Participating Company who is designated by the Committee in writing to participate in the Program.

  • First Tier Participant refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • Market Participant means an entity that, for its own account, produces, transmits, sells, and/or purchases for its own consumption or resale capacity, energy, energy derivatives and ancillary services in the wholesale power markets. Market Participants include transmission service customers, power exchanges, Transmission Owners, load serving entities, loads, holders of energy derivatives, generators and other power suppliers and their designated agents.

  • Qualified Participant means a Participant who has attained age 55 and who has completed at least 10 years of participation in the Plan.

  • Loan Participant means each Purchaser and its respective successors and registered assigns, including any Certificate Holder.

  • Other Participant means a cooperative project participant other than the United States.

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • Depository Participant A broker, dealer, bank or other financial institution or other Person for whom from time to time a Depository effects book-entry transfers and pledges of securities deposited with the Depository.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Depositary Participant means a broker, dealer, bank, other financial institution or other Person for whom from time to time a Depositary effects book-entry transfers and pledges of securities deposited with the Depositary.

  • Registered Participant means a market participant which has entered into a Participation Agreement with the Allocation Platform Rights Document means a document containing the information of the maximum amount of allocated Physical Transmission Rights (identified by CAI) that can be nominated by a market participant per Bidding Zone border per day per hour and per direction taking into account the volume of Daily Transmission Rights initially acquired and any possible curtailments which occurred before the issuance of the Rights Document. Working Day means the calendar days from Monday to Friday, with the exception of public holidays as specified on the website of the Allocation Platform;

  • Nonparty participant means a person, other than a party or mediator, that participates in a mediation.

  • Exchange Participant means (a) the Bank which is a person registered as a China Connect Exchange Participant (as defined in the SEHK China Connect Rules) by SEHK; or (b) where the context requires, any China Connect Exchange Participant (as defined in the SEHK China Connect Rules).