End of Day Net Settlement definition

End of Day Net Settlement means a contingency arrangement to facilitate the settlement of all eligible transactions as stipulated in the Operating Procedures which may be triggered if (a) the computer system of the Clearing House is not functional in both HKICL’s production and backup data centres for a prolonged period, and (b) the conditions as stipulated in the Operating Procedures are satisfied. The decision to trigger such arrangement shall be made in accordance with the Operating Procedures and with the prior approval of HKICL and MA.
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End of Day Net Settlement means a contingency arrangement to facilitate the settlement of all eligible transactions as stipulated in the Operating Procedures which may be triggered if (a) the computer system of the Clearing House is not functional in both HKICL’s production and backup data centres for a prolonged period,
Sample 1

Examples of End of Day Net Settlement in a sentence

  • Mr. Han [Pyo Wook Han, First Secretary, Korean Embassy] stated that these were two small islands lying in the Sea of Japan, he believed in the general vicinity of Ullungdo.

  • Upon receipt of notice from HKICL to the effect that End of Day Net Settlement has been triggered, CLS Bank will send CLS Pay-out details to the Clearing House via authenticated fax in accordance with the schedules and requirements specified in the Operating Procedures.

  • If all the Members with debit settlement amounts have sufficient available funds in their CHATS Ledger Accounts at any time before CHATS Value Date Cut-off on the day when End of Day Net Settlement is operative, such settlement amounts will be automatically debited and the relevant credit settlement amounts will be automatically credited to all relevant CHATS Ledger Accounts, and the settlement will immediately be deemed to be effected and completed.

  • The principle of “all or none” shall apply to the End of Day Net Settlement run.

  • While End of Day Net Settlement remains in effect all eligible transactions as stipulated in the Operating Procedures consolidated by Sending Members (one payment to each Receiving Member) shall be prepared by each Member in Electronic Media and passed to the Clearing House according to the schedules specified in the Operating Procedures.

  • Based on the authenticated fax, HKICL will consolidate the CLS Pay-outs (one payment from CLS Bank to each Receiving Member) and prepare the payment file in Electronic Media on behalf of CLS Bank for effecting End of Day Net Settlement.

  • If a Member is in default, (i) its name will be identified and announced and (ii) the defaulted End of Day Net Settlement run will be unwound and there will be a settlement excluding the Member in default.

  • Rule 6.12.1 shall not apply to CLS Bank; Rule 6.12.3 shall apply to CLS Bank in the event that End of Day Net Settlement is triggered.

  • The Distributing Agent’s duty of care claims were thus precluded in light of these exculpation provisions, and any possible liability on the part of the directors would have to be based on some other theory.

  • CLS Payment Instructions Value Forward Day will not be effected by End of Day Net Settlement.

Related to End of Day Net Settlement

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • TARGET Settlement Day means any day on which TARGET2 is open for the settlement of payments in euro;

  • Resettlement means the impact of an involuntary taking of land under the Project, which taking causes affected persons to have their: (i) standard of living adversely affected; or (ii) right, title or interest in any house, land (including premises, agricultural and grazing land) or any other fixed or movable asset acquired or possessed, temporarily or permanently; or (iii) access to productive assets adversely affected, temporarily or permanently; or (iv) business, occupation, work or place of residence or habitat adversely affected, temporarily or permanently.

  • Gross Settlement Amount means $633,000.00 which is the total amount Defendant agrees to pay under the Settlement except as provided in Paragraph 9 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • Daily Settlement Amount for each of the 40 consecutive Trading Days during the Observation Period, shall consist of: