Default Market Value the meaning specified in paragraph 10;
Default Market Value means, with regard to any assets on any date:
Default Market Value of such Equivalent Securities means:
Examples of Default Market Value in a sentence
Importantly, a non-Defaulting Party may elect to treat the Underlying Asset as equivalent to the relevant Asset-backed Digital Asset for the purposes of calculating the Default Market Value.
More Definitions of Default Market Value
Default Market Value with respect to any Securities on any date:
Default Market Value in relation to Financial Assets, where the Client holds a long position in the custody account, the Market value of such Financial Assets at the best bid price available for such Financial Assets on the most appropriate market after deduction of all broker’s fees and commissions, transfer taxes and all other reasonable costs, fees and expenses that would be incurred in connection with the transaction, all as reasonably determined by the Bank, on the Liquidation Date; – in relation to Financial Assets, where the Client holds a short position in the custody account, the Market value of such Financial Assets at the best offer price available for such Financial Assets on the most appropriate market with all broker’s fees and commissions, transfer taxes and all other reasonable costs, fees and expenses that would be incurred in connection with the transaction, all as reasonably determined by the Bank, on the Liquidation Date; - in relation to Futures and Listed Options, the cost of closing such positions using the best available prices, and taking into consideration the difference between the bid and offer prices in the market, for such futures and options after deduction of all broker’s fees and commissions, transfer taxes and all other reasonable costs, fees and expenses that would be incurred in connection with the transaction, all as reasonably determined by the Bank, on the Liquidation Date; – in relation to Forward Contracts, Swaps, Repos and OTC options, the cost of closing such positions using the best available prices, and taking into consideration the difference between the bid and offer prices in the market, for such Forwards, Swaps and OTC options on the most appropriate market after deduction of all broker’s fees and commissions, transfer taxes and all 3 other reasonable costs, fees and expenses that would be incurred in connection with the transaction, all as reasonably determined by the Bank, on the Liquidation Date, as a result of closing such transactions; – any amounts that become due or owed on any date later than the Liquidation Date as a result of closing such transactions are discounted at the prevailing interest rates of the relevant currency to the net present value at the Liquidation Date; any amount due or owed for any Financial Transaction mentioned above shall be translated into the Base currency at the spot rate, and – any cash amount including accrued interest on the Client’s current account(s).
Default Market Value in relation to Securities on any date (where Seller is the Defaulting Party) the Market value of such Securities on such date; and (where Buyer is the Defaulting Party) the amount it would cost to buy such Securities at the best available offer price therefore (and where different offer prices are available for different delivery dates, such offer price in respect of the earliest available such delivery date) on the most appropriate market on such date together with all broker's fees and commissions, transfer taxes and all other costs, fees and expenses that would be incurred in connection therewith (calculated on the assumption that the aggregate thereof is the least that could reasonably be expected to be paid in order to carry out the Transaction), all as determined by Seller; and for these purposes any sum in a currency other than the Contractual Currency For the Transaction in question shall be converted into such Contractual Currency at the Spot Rate; (k) "EQUIVALENT SECURITIES", with respect to a Transaction, securities of the same issuer, forming part of the same issue and being of an identical type, nominal value, description and (except where otherwise stated) amount to the Purchased Securities under that Transaction. If and to the extent that such Purchased Securities have been redeemed the expression shall mean a sum of money equivalent to the proceeds of the redemption; (l) "EUROCLEAR", Xxxxxx Guaranty Trust Company of New York, Brussels Branch, as operator of the Euroclear System; (m) "EVENT OF DEFAULT", the meaning specified in paragraph 10 hereof; (n) "INCOME", with respect to any Security at any time, all interest, dividends or other distributions thereon; (o) "LIB0R" in relation to any sum in any currency, the three-month London Inter Bank Offered Rate in respect of that currency as quoted on Page 3750 on the Telerate Service (or such other page as may replace Page 3750 on that service or such other service as may be nominated for the time being by the British Bankers' Association as the information vendor for the purpose of displaying British Bankers' Association Interest Settlement Rates) as of 11.00 a.m., London time, on the date on which it is to be determined; (p) "MARGIN DEFICIT", the meaning specified in paragraph 4(a) hereof; (q) "MARGIN EXCESS", the meaning specified in paragraph 4(b) hereof; (r) "MARKET VALUE", with respect to any Securities as of any time on any date, the price for such Securities at such time on such date obta...
Default Market Value means at any time, in relation to any Exchanged Collateral or Exchanged Securities, the amount which, in the reasonable opinion of the non-Defaulting Party, represents their fair market value, having regard to such pricing sources and methods (which may include, without limitation, available prices for securities with similar maturities, terms and credit characteristics as the relevant Exchanged Collateral or Exchanged Securities) as the non-Defaulting Party considers appropriate.9.3
Default Market Value means the amount specified in the relevant default notice to be determined by CLSA or its agent on the basis of either the official market closing price of the relevant product as determined by CLSA (acting in good faith), taking into account all reasonable costs and charges associated with the purchase or sale of the product, or such other amount to be determined based on factors that CLSA relevant to determine a fair market price (acting in good faith).
Default Market Value means the market value of the Equivalent Securities and any Equivalent Margin Securities sold by the Bank at the best price obtained at the time of default.