Equivalent Margin definition

Equivalent Margin means any cash and/or securities of the same type, nominal value, currency and amount as Acceptable Margin Transferred hereunder and in relation to any Acceptable Margin (subject to variations in quality and weight as is permitted under the Exchange Rules) as the Acceptable Margin Transferred hereunder.

Equivalent Margin means cash and/or securities of the same type, nominal value, currency and amount as Acceptable Margin Transferred hereunder.

Equivalent Margin means in relation to any Margin comprised in the Margin Balance, such cash that is of the same issuer, nominal value, description and amount as that Margin;

Examples of Equivalent Margin in a sentence

• The Firm is obliged to transfer Equivalent Margin (to "return" margin) to the Client following a demand for its return only to the extent that the Client's obligations which any Applicable Regulations or the Firm require to be margined have been discharged.

• Notwithstanding the use of terms such as "margin" which are used to reflect terminology used in the market for such arrangements, nothing in the Title Transfer Provisions is intended to create a security interest in any Acceptable Margin, Equivalent Margin, Equivalent Distributions or interest in respect of Title Transfer Collateral transferred pursuant to this Agreement.

• If the Firm arranges for the return of the Reused Margin or Equivalent Margin to accounts of the Client subject to the security interest then, upon return, that margin will be subject to the security interest set out in the Security Interest Provisions, unless otherwise agreed.

• All transfers of margin, Equivalent Margin, Equivalent Distributions and interest effected pursuant to this clause are made with full title guarantee.

• The Client may, with the Firm's prior written consent, transfer to the Firm replacement Acceptable Margin in substitution for Title Transfer Collateral with the same or greater Value provided by the Client, whereupon the Firm will transfer Equivalent Margin of the requested Value to the Client, provided that the requested Value of Equivalent Margin is the same as or lesser than the Value of the Acceptable Margin.

• On any Liquidation Date or date on which Transactions are terminated pursuant to clause 16 (Termination Following a Firm Trigger Event) or clause 17 (Termination Following a CCP Default), the Firm will have an obligation to return Equivalent Margin in respect of the affected Transactions which shall be discharged to the extent that it is taken into account in a Liquidation Amount or Cleared Set Termination Amount in accordance with clause 18.2 (Title Transfer Collateral).

• If the Client delivers more than one type of Title Transfer Collateral to the Firm in respect of a Clearing Service and the Firm is obliged to return part of the Title Transfer Collateral to the Client, the Firm will be entitled to choose which Equivalent Margin it uses to satisfy the relevant return obligation.

More Definitions of Equivalent Margin

Equivalent Margin. Securities”, Securities equivalent to Securities previously transferred as Margin Securities;

Equivalent Margin means cash and/or securities of the same type, nominal value, description and amount as Acceptable Margin transferred by the Client to the Firm or the Firm to the Client, as applicable, or otherwise comprised in the Title Transfer Collateral (or, if any transferred margin has been redenominated, converted, redeemed or otherwise modified, cash and/or securities collateral of the same type, nominal value, description and amount of the cash and/or securities into which margin has been redenominated, converted, redeemed or otherwise modified);

Equivalent Margin means cash of the same type, nominal value, description and amount as Acceptable Margin transferred by the Client to the Firm or the Firm to the Client, as applicable, comprised in the Title Transfer Collateral (or, if any transferred margin has been redenominated, converted, redeemed or otherwise modified, cash collateral of the same type, nominal value, description and amount of the cash into which margin has been redenominated, converted, redeemed or otherwise modified);