Examples of Loss Distribution Period in a sentence
In addition, a Loss Distribution Period shall end with immediate effect and without the need for any action on the part of any Clearing Member or the Corporation upon any Corporation Default or other determination to terminate all Contracts under Rule 806.
If, as of the close of business on a Potential Loss Distribution Day, the Corporation does not determine that the RGD Continuation Conditions are satisfied, or otherwise determines to terminate the Loss Distribution Period, then the Corporation may determine that either (i) that day shall not be a Loss Distribution Day and the Loss Distribution Period shall have terminated as of the last Loss Distribution Day or (ii) that day shall be the final Loss Distribution Day.
Certain Decisions Concerning Default MattersNotwithstanding anything to the contrary herein, any decision by the Corporation (A) that a Default Auction has failed because of insufficient resources; (B) to make an RGD Determination or continue a Loss Distribution Period, (C) to implement a Partial Tear-Up or (D) to issue a Termination Notice in respect of all outstanding Contracts shall be made by the Board and shall not be delegable to any officer or any other Person.
After the end of the Loss Distribution Period, the Corporation shall not determine further Cash Gainer Adjustments with respect to VM or Contractual Payments and shall calculate, collect and pay VM payments and Contractual Payments in the ordinary course, without adjustment to take into account any Cash Gainer Adjustments during the Loss Distribution Period except as provided in Rule 807(m) below.
Loss Distribution Day: any business day during a Loss Distribution Period on which BME CLEARING, prior to the Margins and Settlements requirement that the CCP must issue in accordance with its regulation, determines that the CCP Loss Not Covered for that day is greater than zero.
CCP House Loss Not Covered: the amount, calculated on any business day during the Loss Distribution Period, that is the positive difference between the net sum payable, in respect of all the items established in the BME CLEARING regulation, by a Defaulting Clearing Member, calculated by BME CLEARING on that day, less the resources obtained from the actions established in Sections 45.8.C.1 to 45.8.C.6 of the Regulations, still available on that day.
Upon such termination, either the Corporation or the relevant Clearing Member, as the case may be, shall be obligated to pay to the other the applicable Partial Tear- Up Price (which, in either case, shall be satisfied only through applicable variation margin for such Tear-Up Position, determined for this purpose as though all variation margin payments had been made in any relevant Loss Distribution Period without regard to any Cash Gainer Adjustments).
Upon such termination, either the Corporation or the relevant Clearing Member, as the case may be, shall be obligated to pay to the other the applicable Partial Tear-Up Price (which, in either case, shall be satisfied only through applicable variation margin for such Tear-Up Position, determined for this purpose as though all variation margin payments had been made in any relevant Loss Distribution Period without regard to any Cash Gainer Adjustments).
Krass, “Generalized Coverage: New Developments in Covering Location Models,” Computers & Operations Research, Vol.
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