Defaulting Clearing Participant definition

Defaulting Clearing Participant means a Clearing Participant determined by JSCC to be in Default, and when Defaulting Clearing Participant is acting for a Customer, it may also be referred to as “Defaulting Clearing Broker”;
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Defaulting Clearing Participant means a Clearing Participant for which JSCC has determined the Default, Etc.
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Defaulting Clearing Participant means a Clearing Participant in Default.
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Examples of Defaulting Clearing Participant in a sentence

  • The Fixed Amounts, the Floating Payments and other amounts of money which should have been paid or received between JSCC and the Defaulting Clearing Participant if there is no Compulsory Termination of the Clearing Contracts of Defaulting Clearing Participant (excluding the Variation Margins and the amount set forth in c.

  • In the case where the Resulted Net Amount is a negative value, the amount equal to the absolute value of the Resulted Net Amount shall be the total amount of the Early Termination Fees payable to the Defaulting Participant by JSCC for the Clearing Contracts of Defaulting Clearing Participant.

  • In the case where the amount equivalent to the loss from the Clearing Contracts of Defaulting Clearing Participant (which means the positive (and shall only be a positive and not negative) value of the sum total of the balance of the total amount of the Variation Margin, etc.

  • The amount of the Third Tier Special Clearing Charge to be contributed by the Participant Bearing Third Tier Special Clearing Charge whose bid on the Subject Transactions for Auction in the Auction for Default Settlement related to the relevant Defaulting Clearing Participant was successful: The amount obtained by prorating the amount of the Aggregate Loss subject to Clearing Fund Requirement Proration remaining after deducting the sum total of the amounts set forth in a.

  • The counterparty to the Hedge Transaction to be implemented by JSCC in accordance with Article 94 of the Business Rules shall be a Clearing Participant who is not a Defaulting Clearing Participant.

  • Date and time and the details of Default Settlement Drill (meaning the drill to conduct restructuring of JSCC’s positions along with the termination of Clearing Contracts of Defaulting Clearing Participant in the case of determination of the Default, etc.

  • In the case where the Resulted Net Amount is a negative value, the amount equivalent to the absolute value of the Resulted Net Amount shall be the total amount of the Early Termination Fees payable to the Defaulting Participant by JSCC for the Clearing Contracts of Defaulting Clearing Participant.

  • The Early Termination Fee shall be paid by the Defaulting Clearing Participant to JSCC in the case where the Resulted Net Amount is a positive value and by JSCC to the Defaulting Clearing Participant in the case where the Resulted Net Amount is a negative value.

  • In this case, the Variation Margins paid and received between JSCC and the Defaulting Clearing Participant with regard to the Relevant Clearing Contract (Customer Account) shall be appropriated to the payment of the obligations with regard to the Early Termination Fees as a matter of course without either the actual return of the Variation Margins or the actual payment and receipt of the Early Termination Fees.

  • For the purpose hereof, “excess collateral” means the Initial Margin, the Variation Margin, the CDS Clearing Fund, the Default Contingent Margin and the Special Clearing Charge Collateral of which the Defaulting Clearing Participant has the right to claim return from JSCC in connection with CDS Clearing Business, that remains after appropriation to the payment of the Defaulting Clearing Participant’s obligations in accordance with these Business Rules, etc.


More Definitions of Defaulting Clearing Participant

Defaulting Clearing Participant means a Clearing Participant whose Default, etc.
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Related to Defaulting Clearing Participant

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

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

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

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

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • Defaulting Bank means, at any time, subject to Section 2.18(d), (i) any Bank that has failed for two or more consecutive Business Days to comply with its obligations under this Agreement to make available its ratable portion of a Borrowing (each, a “funding obligation”), unless such Bank has notified the Agent and a Borrower in writing that such failure is the result of such Bank’s determination that one or more conditions precedent to funding has not been satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing), (ii) any Bank that has notified the Agent or a Borrower in writing, or has stated publicly, that it does not intend to comply with its funding obligations hereunder, unless such writing or statement states that such position is based on such Bank’s determination that one or more conditions precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing or public statement), (iii) any Bank that has, for three or more Business Days after written request of the Agent or a Borrower, failed to confirm in writing to the Agent and the Borrowers that it will comply with its prospective funding obligations hereunder (provided that such Bank shall cease to be a Defaulting Bank pursuant to this clause (iii) upon the Agent’s and the Borrowers’ receipt of such written confirmation), (iv) any Bank with respect to which a Bank Insolvency Event has occurred and is continuing with respect to such Bank or its Parent Company, or (v) any Bank that has become the subject of a Bail-In Action; provided that a Bank shall not be a Defaulting Bank solely by virtue of the ownership or acquisition of any equity interest in such Bank or its Parent Company by a Governmental Authority or an instrumentality thereof. Any determination by the Agent that a Bank is a Defaulting Bank under any of clauses (i) through (v) above will be conclusive and binding absent manifest error, and such Bank will be deemed to be a Defaulting Bank (subject to Section 2.18(d)) upon notification of such determination by the Agent to the Borrowers and the Banks. The Agent will promptly send to all parties hereto a copy of any notice to the Borrowers provided for in this definition.

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

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

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

  • 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.