Defaulting FXCCM definition

Defaulting FXCCM means a FXCCM who is a Defaulter
Defaulting FXCCM means a FXCCM who is a Defaulter"Defaulting Listed Interest Rates Clearing Member"means a Listed Interest Rates Clearing Member who has defaulted"Defaulting Rates Service Clearing Member"means a Rates Service Clearing Member who is a Defaulter"Defaulting RCM"means a RCM who is a Defaulter"Defaulting SCM "means a SCM who is a Defaulter"Default Loss"has the meaning assigned to it in Default Rule 16(b)"Default Management Process Agreement Amendment Agreement"has the meaning assigned to it in Regulation 11(s)"Default Notice"has the meaning assigned to it in Default Rule 3"Default Rules"means the Clearing House’s Default Rules including the Supplements from time to time in force pursuant to Part IV of The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001 which, for the avoidance of doubt, form a part of these General Regulations"Deliverable Forward Settled ForexClear Option Transaction"means a ForexClear Option Transaction which the parties thereto have agreed (as evidenced by the ForexClear Deliverable Forward Contract Terms applicable to that ForexClear Option Transaction) shall be settled by the entry into a ForexClear Deliverable Forward Transaction"delivery contract"means a Cleared Exchange Contract, LSE Derivatives Markets Cleared Exchange Contract or Listed Interest Rates Contract between the Clearing House and a Member: (a) for the immediate sale and purchase of a reference asset or commodity arising on the exercise of an option pursuant to these Regulations; or (b) for the sale and purchase of a reference asset or commodity for delivery on the date specified in the contract or on the date agreed between the parties, in either case being an open contract under whichtender is not required to be given
Defaulting FXCCM means an FXCCM who is a defaulter under Rule 4; "Defaulting RCM" means an RCM who is a defaulter under Rule 4; "Defaulting SCM" means an SCM who is a defaulter under Rule 4;

Examples of Defaulting FXCCM in a sentence

  • All such registrations shall be made in a way that recognises the amounts of Collateral transferred to or from the Clearing House in respect of variation margin in relation to the ForexClear Contracts of the Defaulting FXCCM representing such new positions.

  • For the avoidance of doubt, the Clearing House will utilise the resources available to it pursuant to Rule 15 of the Default Rules for the purposes of making such a payment notwithstanding that other Auction Portfolios of the Defaulting FXCCM may not yet have been auctioned and that the loss attribution process provided for by Rule 2.5 has not yet occurred.

  • Where a Rule 26 Certificate is to be issued in respect of the Default of an FXCCM, the Clearing House may assume that no further recoveries will be made in respect of obligations of the Defaulting FXCCM defaulter (beyond the value of its ForexClear Contribution.Contributions).

  • Counterparty Technical Validation Check” The counterparties to each ForexClear Transaction trade must be those specified under the ForexClear Eligibility Criteria inrespect of such ForexClear Transaction and (a) the parties submitted in trade particulars FXPs, (b) are each a Non- Defaulting FXCCM clearing the ForexClear Transaction must be and (c) approved by the Clearing House to clear the relevant trade type (the “Counterparty Technical Validation Check”).

  • The counterparties to each tradeForexClear Transaction must be (a)those specified under the parties submittedForexClear Eligibility Criteria in trade particulars FXPs, (b) are respect of such ForexClear Transaction and each a Non- Defaulting FXCCM and (c)clearing the ForexClear Transaction must be approved by the Clearing House to clear the relevant trade type.


More Definitions of Defaulting FXCCM

Defaulting FXCCM means a FXCCM who is a Defaulter "Defaulting RCM" means a RCM who is a Defaulter "Defaulting SCM " means a SCM who is a Defaulter "Default Loss" has the meaning assigned to it in Default Rule 16(b) "Default Management Process Agreement Amendment Agreement" has the meaning assigned to it in Regulation 11(r) "Default Notice" has the meaning assigned to it in Default Rule 3 "Default Rules" means the Clearing House’s Default Rules including the Supplements from time to time in force pursuant to Part IV of The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001 which, for the avoidance of doubt, form a part of these General Regulations "delivery contract" means a Cleared Exchange Contract or LSE Derivatives Markets Cleared Exchange Contract between the Clearing House and a Member:

Related to Defaulting FXCCM

  • Defaulting Partner shall have the meaning set forth in Section 9.1.

  • Defaulting Entity shall have the meaning set forth for such term in Section 6.02(a) hereof. “Deficiency Amount” shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.

  • 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.

  • Defaulting Member the meaning set forth in Section 3.2(a).

  • Defaulting Purchaser means any Related Committed Purchaser or LC Participant, as applicable, that (a) has failed to (i) perform its obligation to fund any portion of its Purchases or Participation Advances or (ii) pay over to the Administrator or any Purchaser any other amount within two Business Days of the date required to be funded or paid by it hereunder, unless, in the case of clause (i) above, such Related Committed Purchaser or LC Participant, as applicable, notifies the Administrator and the Seller in writing that such failure is the result of such Related Committed Purchaser’s or LC Participant’s, as applicable, good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied, (b) has notified the Seller, the Administrator or any Purchaser in writing, or has made a public statement to the effect, that it does not intend to comply with any of its funding obligations under this Agreement or any other Transaction Document or generally under other agreements in which it commits or extends credit (unless such writing or public statement relates to such Related Committed Purchaser’s or LC Participant’s, as applicable, obligation to fund any portion of its Purchases or Participation Advances and states that such position is based on such Related Committed Purchaser’s or LC Participant’s, as applicable, good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied), (c) has failed, within three Business Days after written request by the Administrator or the Seller, to confirm in writing in a manner satisfactory to the Administrator and the Seller, that it will comply with the terms of this Agreement and the other Transaction Documents relating to its obligations to fund prospective Purchases and Participation Advances under this Agreement (provided that such Related Committed Purchaser or LC Participant, as applicable, shall cease to be a Defaulting Purchaser pursuant to this clause (c) upon receipt of such written confirmation by the Administrator and the Seller), (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any bankruptcy or insolvency proceeding or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such capacity; provided that, for the avoidance of doubt, a Related Committed Purchaser or LC Participant, as applicable, shall not be a Defaulting Purchaser solely by virtue of the ownership or acquisition of any equity interest in such Related Committed Purchaser or LC Participant, as applicable, or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Related Committed Purchaser or LC Participant, as applicable, with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Related Committed Purchaser or LC Participant, as applicable (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Related Committed Purchaser or LC Participant, as applicable.

  • Defaulting Party has the meaning specified in Section 6(a).

  • Potential Defaulting Lender means, at any time, (i) any Lender with respect to which an event of the kind referred to in the definition of “Lender Insolvency Event” has occurred and is continuing in respect of any Subsidiary of such Lender, or (ii) any Lender that has notified, or whose Lender Parent or a Subsidiary thereof has notified, the Administrative Agent, the Borrower or any LC Issuing Bank in writing, or has stated publicly, that it does not intend to comply with its funding obligations generally under other loan agreements, credit agreements and other similar agreements, unless such writing or statement states that such position is based on such Lender’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). Any determination by the Administrative Agent that a Lender is a Potential Defaulting Lender under any of clauses (i) and (ii) above will be conclusive and binding absent manifest error, and such Lender will be deemed a Potential Defaulting Lender (subject to Section 2.19(f) hereof) upon notification of such determination by the Administrative Agent to the Borrower, the LC Issuing Banks and the Lenders.

  • Defaulting Investor means any Investor that has (a) failed to make a payment required to be made by it under the terms of this Agreement within one (1) Business Day of the day such payment is required to be made by such Investor thereunder, (b) notified the Administrative Agent in writing that it does not intend to make any payment required to be made by it under the terms of this Agreement within one (1) Business Day of the day such payment is required to be made by such Investor thereunder or (c) become the subject of an Event of Bankruptcy.

  • Defaulting Lender means any Lender with respect to which a Lender Default is in effect.

  • Defaulting Lender Fronting Exposure means, at any time there is a Defaulting Lender, (a) with respect to the Issuing Bank, such Defaulting Lender’s Applicable Percentage of the outstanding Letter of Credit obligations other than Letter of Credit obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or cash collateralized in accordance with the terms hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s Applicable Percentage of Swingline Loans other than Swingline Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or cash collateralized in accordance with the terms hereof.

  • Defaulting Limited Partner means a Limited Partner that has failed to pay any amount owed to the Partnership under a Partnership Loan within 15 days after demand for payment thereof is made by the Partnership.

  • Defaulting Lender Rate means (a) for the first 3 days from and after the date the relevant payment is due, the Base Rate, and (b) thereafter, the interest rate then applicable to Advances that are Base Rate Loans (inclusive of the Base Rate Margin applicable thereto).

  • Non-Defaulting Party has the meaning specified in Section 6(a).

  • Defaulting Shareholder has the meaning set out in clause 16.7;

  • Non-Defaulting Lender means, at any time, each Lender that is not a Defaulting Lender at such time.

  • Non-Defaulting Bank means each Bank other than a Defaulting Bank.

  • Non-Defaulting Member means a Member who is not a Defaulting Member.

  • Commercial LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding commercial Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements relating to commercial Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Commercial LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the total Commercial LC Exposure at such time.

  • Available Unused Commitment means, with respect to a Revolving Facility Lender under any Class of Revolving Facility Commitments at any time, an amount equal to the Dollar Equivalent of the amount by which (a) the applicable Revolving Facility Commitment of such Revolving Facility Lender at such time exceeds (b) the applicable Revolving Facility Credit Exposure of such Revolving Facility Lender at such time.

  • Terminated Transaction is defined in Section 5.2.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Leveraged Exposure means a leveraged long exposure to the Reference Asset.

  • Termination Disbursement means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Demand.

  • Transaction Exposure means, for any Transaction, Exposure determined as if such Transaction were the only Transaction between the Secured Party and the Pledgor.

  • Moody’s Exposure Period means the period commencing on a given Valuation Date and ending 49 days thereafter.

  • L/C Exposure at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time, and (b) the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time. The L/C Exposure of any L/C Lender at any time shall equal its L/C Percentage of the aggregate L/C Exposure at such time.