Free of Payment definition

Free of Payment means a transfer of SGSMB that is not accompanied by payment as is otherwise required on a Delivery-versus-payment basis;
Sample 1Sample 2Sample 3
Free of Payment or “FOP” means the delivery of securities with no corresponding payment;
Sample 1Sample 2Sample 3

Examples of Free of Payment in a sentence

  • Free of Payment Loans are included in these figures.Transactions in each ISIN are then summed to produce the aggregate number of shares on loan for each relevant security.

  • In the settlement operations, the Free of Payment (FOP) principle shall be applied.(4) Net TL denominated cash receivables or debts resulted from netting are displayed in the member screens.(5) The obligations are fulfilled by the members by making debt coverage through Takasbank screens until 13:00 (13:00 included).(6) It is also possible to partially fulfill the settlement obligations, and partial settlement shall be made against the partially fulfilled obligations at the time periods set by Takasbank.

  • Cross-Border Transfer Instructions are accepted for settlement and/or clearance by HKSCC on a Free of Payment basis for the time being.

  • It should be noted that T2S also processes Free of Payment (FOP) transactions, through which securities may be delivered (Delivery Free of Payment - DFOP) or received (Receive Free of Payment- RFOP) without payment.

  • At the same time, the SEOCH Participant shall instruct its RD to transfer EFBN on a Free of Payment (“FOP”) basis to SEOCH’s account with HKMA.

  • It should be noted that T2S also processes Free of Payment (FOP) transactions, through which securities may be delivered (Delivery Free of Payment - DFOP) or received (Receive Free of Payment - RFOP) without payment.

  • Transactions in Eligible Securities can be settled in CCASS, either on a Free of Payment, or FOP, basis, or on a Delivery versus Payment, or DVP, basis or on a Realtime Delivery versus Payment, or RDP, basis.

  • After the MiFID directive went into effect, and following a number of contacts with foreign institutional investors abroad, as well as with custodians active in our market, a proposal was drafted which was implemented in the Dematerialized Securities System (DSS) providing Operators with the ability to enter and settle OTC (off-exchange transactions) with the choice of either Free of Payment (FoP) or with Delivery Versus Payment (DvP), thus covering all their needs.

  • Transactions in Eligible Securities other than China Connect Securities can be settled in CCASS, either on a Free of Payment, or FOP, basis, or on a Delivery versus Payment, or DVP, basis or on Realtime Delivery versus Payment, or RDP, basis.

  • It investigates development, learning, or other types of change in individuals over a specific time frame.

Related to Free of Payment

  • Date of Payment means the date on which NYSERDA requisitions a check from its statutory fiscal agent, the Department of Taxation and Finance, to make a Payment.

  • Schedule of Payments means the schedule of payments disclosed on a Contract.

  • Place of Payment when used with respect to the Securities of any series, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 301.

  • Guaranty of Payment means each Guaranty of Payment executed and delivered on or after the Closing Date in connection with this Agreement by the Guarantors of Payment, as the same may from time to time be amended, restated or otherwise modified.

  • Tariff Payment means the payments to be made under Monthly Bills as referred to in Article 10 and the relevant Supplementary Bills;

  • Basic Rate of Pay means the incremental step in the Salaries Schedule applicable to an Employee in accordance with the terms of this Collective Agreement, exclusive of all premium payments.

  • Actual Rate of Pay means, unless and until the Agency Worker has completed the Qualifying Period, the rate of pay which will be paid for all time worked during an Assignment for each hour worked, as set out in the relevant Assignment Details Form;

  • weekly rate of pay means an employee’s annual rate of pay divided by 52.176.

  • Annual Rate of Pay means, as of any date, an employee’s annualized base pay rate. An employee’s Annual Rate of Pay shall not include sales commissions or other similar payments or awards.

  • Base rate of pay means the rate of pay payable to the Employee for their Ordinary Hours of work, but not including any of the following: a) loadings; b) monetary allowances; c) overtime; and d) penalty rates.

  • Final rate of pay means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, including employee contributions picked up after August 1, 1982, pursuant to KRS 61.560(4). The rate shall be certified to the system by the employer and the following equivalents shall be used to convert the rate to an annual rate: two thousand eighty (2,080) hours for eight (8) hour workdays, nineteen hundred fifty (1,950) hours for seven and one-half (7-1/2) hour workdays, two hundred sixty (260) days, fifty-two (52) weeks, twelve (12) months, one (1) year;

  • hourly rate of pay means an employee's weekly rate of pay divided by thirty-five (35).

  • Regular rate of pay means the rate of pay the employee was receiving at the time maternity leave commenced, but does not include retroactive adjustment of rate of pay, acting pay, overtime, shift premium or any other form of supplementary compensation.

  • Current rate of pay means the member's actual hourly, daily, weekly, biweekly, monthly, or yearly rate of pay converted to an annual rate as defined in final rate of pay. The rate shall be certified by the employer;

  • Guarantor of Payment means each of the Companies set forth on Schedule 2 hereof, that are each executing and delivering an Amended and Restated Guaranty of Payment, or any other Person that shall deliver a Guaranty of Payment to Agent subsequent to the Effective Date.

  • Actual QP Rate of Pay means the rate of pay which will be paid to the Agency Worker if and when s/he completes the Qualifying Period, as set out in any variation to the relevant Assignment Details Form;

  • Ordinary rate of pay in Clause 17. - Annual Leave means the average rate the employee received for the four weeks preceding the taking of annual leave or the average rate received for the 12 months preceding such leave, whichever shall be the higher, provided that such average shall be computed taking into consideration any extra rates prescribed for night work, etc., and penalty rates for Sunday work where such work is part of the employee's normal working week of five days but excluding any amounts received by way of overtime or holiday penalty rates.

  • daily rate of pay means an employee's weekly rate of pay divided by five (5);

  • Debit Payment means a particular transaction where a debit is made.

  • Proof of payment means, as applicable, a copy of the check, confirmation of credit card or debit card payment, or confirmation of wire or automated clearinghouse transfer, and any other information required to demonstrate that payment has been made according to the EPA requirements, in the amount due, and identified with the appropriate docket number and Respondent’s name.

  • Qualified ECP Guarantor means, in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000 at the time the relevant Guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation or such other person as constitutes an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

  • Payment Day means a day (other than a Saturday or Sunday) on which commercial banks and foreign exchange markets are open for business (including dealings in foreign exchange and foreign exchange currency deposits) in the principal financial centre for the Settlement Currency or if the Settlement Currency is euro, any day on which the Trans-European Automated Real-time Gross settlement Express Transfer (TARGET) System is open;

  • Qualified ECP an Obligor with total assets exceeding $10,000,000, or that constitutes an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible contract participant” under Section 1a(18)(A)(v)(II) of such act.

  • Net Payment means the amount the Issuer or any paying agent pays the Holder after deducting or withholding an amount for or on account of any present or future tax, assessment or other governmental charge imposed with respect to that payment by a taxing authority (including any withholding or deduction attributable to additional amounts payable pursuant to this Section).

  • Next Payment means, in respect of each Next Payment Date, the greater of (i) the amount of any payments due to be made by Party A under Section 2(a) on such Next Payment Date less any payments due to be made by Party B under Section 2(a) on such Next Payment Date (in each case, after giving effect to any applicable netting under Section 2(c)) and (ii) zero.

  • Payment Business Day means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in Stockholm and Frankfurt am Main and on which the Clearing System settles payments in the Issue Currency.