Mandatory Participant definition

Mandatory Participant means each Clearing Member (i) holding a Clearing Licence with respect to all DM Auction Transactions comprised in the relevant Auction Unit, (ii) having the necessary account structure to settle all DM Auction Transactions comprised in the relevant Auction Unit, (iii) with respect to which within 3 months prior to the relevant Termination, or Basic Clearing Member Termination or FCM Clearing Member Termination Time (x) at least one Transaction (and/or, if the Affected Clearing Member is an OTC IRS FCM Clearing Member, an OTC IRS FCM Client Transaction of any of its OTC IRS FCM Clients) or (y) at least one Basic Clearing Member Transaction of a Basic Clearing Member of such Clearing Member (acting as Clearing Agent) has been booked on a respective account, which corresponds to these Transaction Types comprised in the relevant Liquidation Group, and (iv) with respect to which no Termination Event or Insolvency Termination Event has occurred and is continuing. The participation of FCM Clearing Members in DM Auctions is subject to the FCM Regulations. A Clearing Member that is not a Mandatory Participant may, subject to and in accordance with the DM Auction Rules, participate in DM Auctions pursuant to Paragraph (4) that relate to OTC Interest Rate Derivative Transactions or Interest Rate Derivatives Transactions (as defined in the FCM Regulations) as a Selected Auction Participant (as defined in the FCM Default Rules) instead of an FCM Mandatory Participant (as defined in the FCM Default Rules) and on its own behalf. Such Clearing Member shall not qualify as a Mandatory Participant solely as a result of its appointment as a Selected Auction Participant. For the avoidance of doubt, the obligations that such Clearing Member may otherwise have as a Mandatory Participant shall remain unaffected. Subject to certain restrictions as set forth in the DM Auctions Rules, (a) Non- Clearing Members, Registered Customers and other customers of Clearing Members may participate in DM Auctions in accordance with the DM Auction Rules through their Clearing Members and (b) Basic Clearing Members may participate in DM Auctions (including through their Clearing Agents acting on their behalf) upon invitation by Eurex Clearing AG. The participation of a Basic Clearing Member in any DM Auction shall not affect the obligations of its Clearing Agent as a Mandatory Participant.
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Mandatory Participant means each
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Mandatory Participant means any full-time employee of a Participating Employer whose Compensation for a particular Plan Year exceeds $500,000 (or such other amount as may be selected by the Committee prior to the calendar year to which such compensation relates or such earlier time as may be required pursuant to Section 409A of the Code); provided however that (i) no full-time employee who has an employment agreement with the Company in effect as of immediately prior to the Effective Date shall be a Mandatory Participant for Plan Year 2014 or any subsequent Plan Year and (ii) in the case of Plan Year 2015 and each Plan Year thereafter, no full-time employee who enters into an an employment agreement with the Company after the Effective Date shall be a Mandatory Participant to the extent that such employment agreement specifically states that the Participant will not be a Mandatory Participant under the Plan.
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Examples of Mandatory Participant in a sentence

  • The vesting schedule does not apply to Elective Deferrals, Catch-up Contributions, Mandatory Participant Contributions, Rollover Contributions, Voluntary Participant Contributions, Deductible Employee Contributions, Employee Designated Final Pay Contributions, and Employee Designated Accrued Leave Contributions, and the earnings thereon.

  • Each Mandatory Participant (as defined in the Clearing Conditions in Chapter I Part 1 Number 7.5.3) and each FCM Mandatory Participant (as defined in Number 4.3.3 Paragraph (2) of the FCM Default Rules) shall be obliged to participate in the relevant DM Auction.

  • Participation in the Mandatory Participant Contribution portion of the Plan shall begin the first of the month following the end of the election window.

  • Eurex Clearing AG shall be entitled to subsequently suspend any Mandatory Participant, any FCM Mandatory Participant, any Selected Auction Participant or any Selected Invitee that is compliant with the conditions of Number 3.2 from participating in a DM Auction upon the occurrence of a serious cause (aus wichtigem Grund) related to such Mandatory Participant, FCM Mandatory Participant, Selected Auction Participant or Selected Invitee, as the case may be.

  • Mandatory Participant Contributions for Plan Participation Required Mandatory Contributions.

  • Mandatory Participant Contributions will be credited with interest thereon from the last day of the Plan Year in which the contributions are made to the end of the month preceding the date of distribution subject to the proviso that interest will not be credited beyond the end of the month immediately preceding the first anniversary of the termination of employment.

  • Any Participant on a leave of absence with pay shall continue to make Mandatory Participant Contributions, in which event he shall continue to be credited with Credited Service.

  • The percentage of Annual Compensation to be contributed by Participants as Mandatory Participant Contributions shall be determined in accordance with Section 4.02 and approved by the Supervisors in accordance with Section 4.06.

  • Each employee eligible to participate in the Plan shall be given the opportunity to irrevocably elect to participate in the Mandatory Participant Contribution portion of the Plan by electing to contribute two percent of their earnings.

  • A Clearing Member which only entered into GC Pooling Transactions, under which it only acted as Cash Provider, shall only be obliged to participate as Bonds Mandatory Participant in the relevant DM Bonds Auction with respect to bonds for which the relevant Clearing Member determined its trading capacities in the Bonds Trading Sheet.


More Definitions of Mandatory Participant

Mandatory Participant means a person who is required by section 15 to register or who is registered as a mandatory participant; (“participant assujetti”)
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Mandatory Participant means a person who is eligible for coverage through a group health insurance plan that has been determined cost-effective.
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Related to Mandatory Participant

  • Depositary Participant means a broker, dealer, bank, other financial institution or other Person for whom from time to time the Depositary effects book-entry transfers and pledges of securities deposited with the Depositary.

  • Depository Participant A broker, dealer, bank or other financial institution or other Person for whom from time to time a Depository effects book-entry transfers and pledges of securities deposited with the Depository.

  • Indirect Depository Participant An institution that is not a Depository Participant but clears through or maintains a custodial relationship with Participants and has access to the Depository's clearing system.

  • Study Participant means a person recruited to participate in the Study.

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • Book Entry Participants means institutions that participate directly or indirectly in the Depository’s book entry registration system for the Warrants;

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Designated Participant means such employees or officers of the Company or a related entity of the Company as the Board may designate from time to time as eligible to participate in the Plan;

  • Other Participant means a cooperative project participant other than the United States.

  • Participant has the meaning specified in Section 10.06(d).

  • Clearing Participant means a person admitted as a participant under the Clearing Rules.

  • Key participant means a sole proprietor, a partner in partnership, or a person with executive managerial control in a corporation. A person with executive managerial control includes persons such as a chief executive officer, chief operating officer and chief financial officer. This definition does not include non-executive managers such as farm, field, or shift managers.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Nonparty participant means a person, other than a party or mediator, that participates in a mediation.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • Major Participant means each Equity Member and each member of the Proposer’s organization: (a) with primary responsibility for design; (b) with primary responsibility for construction; or (c) with a proposed subcontract with a value greater than or equal to 5% of the contract price or $20 million, whichever is greater.

  • Principal Participant means any of the following entities:

  • First Tier Participant refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • Auction Participant or “Bidder” means a Person or Persons who submitted a bid as per the E- Auction Process Memorandum; and shall include a Qualified Bidder or the Successful Bidder and as the context requires;

  • A Participant or beneficiary ("claimant") who has not received benefits under the Plan that he or she believes should be paid shall make a claim for such benefits as follows:

  • Covered Participant means a Participant who is a “covered employee” as defined in Section 162(m)(3) of the Code, and the regulations promulgated thereunder, and any individual the Committee determines should be treated as such a covered employee.

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.