Examples of Fallback in a sentence
If, at any time, the Holder or its designee determines that a Benchmark Transition Event has occurred with respect to the Applicable SOFR Rate or SOFR, or any successor rate, the Holder or its designee will designate a Benchmark Replacement and, as applicable, make Benchmark Conforming Changes in a manner consistent with the methodology set forth in the ARRC Fallback Provisions.
The registered default Bid shall be considered as a Bid submitted by the Registered Participant for the relevant Fallback Auction.
If a default Bid Quantity or a quantity calculated as a sum of the Bid Quantity for several default Bids submitted for the Fallback Auction by a Registered Participant exceeds the Offered Capacity used for Auction simulation as set forth in Article 42, the Bids with the lowest Bid Price shall be rejected one by one until the total allowed Bid Quantity is reached.
A Registered Participant who wants to modify a default Bid for a Fallback Auction shall change the Bid Quantity and the Bid Price of its default Bids.
A Registered Participant not wishing to submit the default Bid for Fallback Auction can cancel its default Bids.
In this simulation of the Auction Allocation Platform will use the latest available default Bids for Fallback Auction together with the latest available information on the Offered Capacity.
The Registered Participant has the option to place or modify default Bids for Fallback Auction.
However, contrary to Article 21 and Article 32 the potential outstanding payment obligations resulting from Fallback Auction will be considered for Credit Limit assessment only if the results of the Fallback Auction are published.
If the Settlement Rate Option set out in the Relevant EMTA Template or given LCH G10 NDF Contract Template, as applicable, is unavailable at the relevant time, Disruption Fallback alternatives for the determination of the Settlement Rate will apply as set out in the Relevant EMTA Template or given LCH G10 NDF Contract Template, as applicable.
The rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.