Novated Contract definition

Novated Contract. A contract between the Clearing House and a Trading Clearing Participant arising as a result of the novation of an On-Market Transaction referred to in Rule 5.1A(a).
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Novated Contract has the meaning set forth in Section 11.4.
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Novated Contract means a novated contract submitted, and approved in writing by the Insurer and detailed on the Schedule.
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Examples of Novated Contract in a sentence

  • For the avoidance of doubt, a Novated Contract shall not constitute the creation of a new contract or the termination of the applicable Novation Subject Contract; rather such Novated Contract shall be considered and deemed a continuation of the existing contract as if the Assuming Company were the original party thereto in lieu of the Ceding Company in respect of such Novated Contract.

  • Consequently, the Parties shall equally bear the costs of reversing the Novation of a Novated Contract retroactive to the applicable Effective Time under this Section 2.7(b).

  • Fund shares attributable to each Novated Contract held by the Ceding Company Separate Accounts shall be transferred from the applicable Ceding Company Separate Account to the applicable Assuming Company Separate Account as of the close of the Business Day on the date during which the Effective Time for such Novated Contracts occurs or as of the close of the next Business Day if the Effective Time occurs on a non-Business Day.

  • For the avoidance of doubt, unless and until a Novation Subject Contract becomes a Novated Contract, the Ceding Company shall retain control over the Non-Guaranteed Elements for such Novation Subject Contract in accordance with the terms of the Coinsurance Agreement.

  • On each Assumption Date, the Reinsurer shall assume all risks, liabilities and obligations under or arising out of the applicable Novated Contract such that the Reinsurer shall be considered and deemed the original party in lieu of the Ceding Company, from the inception date of the applicable Reinsured Policy.

  • For avoidance of doubt, this Chapter shall apply to all ISS Transaction resulting either from Novated Contract or Direct Business Contract.

  • For the avoidance of doubt, a Novated Contract shall not constitute the creation of a new contract or the termination of the applicable Reinsured Policy; rather, such Novated Contract shall be considered and deemed a continuation of the existing contract as if the Reinsurer were the original party in lieu of the Ceding Company.

  • Upon the satisfaction of all requirements for the novation and assumption of a Reinsured Policy, the Ceding Company shall be deemed to have assigned and transferred all of its rights relating to such Novated Contract as of the Assumption Date and the Reinsurer shall be deemed to have assumed and accepted all of the risks, liabilities and obligations under or arising out of the applicable Novated Contract, whether arising prior, on or subsequent to the applicable Assumption Date.

  • Without prejudice to any rights and liabilities that the Clearing Participant may have against each other, a Clearing Participant who is a party to the ISS Transaction but not a party to the Novated Contract shall be under no liability for any failure of a Trading Clearing Participant to settle a Novated Contract that results from a Buy Transaction or Sell Transaction, as the case may be.

  • For the avoidance of doubt, a Novated Contract shall not constitute the creation of a new contract or the termination of the applicable Reinsured Contract; rather such Novated Contract shall be considered and deemed a continuation of the existing contract as if the Reinsurer were the original party thereto in lieu of the Ceding Company in respect of the Reinsured Liabilities under or arising out of the applicable Reinsured Contract.


More Definitions of Novated Contract

Novated Contract means any deed of novation or novation agreement specified by endorsement to this policy.
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Novated Contract shall have the meaning set forth in Article III ---------------- hereof.
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Novated Contract means any Residual Contract listed in Part 2 of Schedule 5;
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Novated Contract means the Original Contract as novated by this Deed;
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Novated Contract shall have the meaning set forth in Section 2.3(a).
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Novated Contract means any deed of novation or novation agreement specified by endorsement to this policy. 6.20 Period of Insurance
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Related to Novated Contract

  • Related Contract means: (i) in relation to the SwapClear Service, a RelatedSwapClear Contract (as such term is defined in the Procedures); (ii) in relation to the RepoClear Service, a Related RepoClear Contract (as such term is defined in the Procedures); (iii) in relation to the ForexClear Service, a Related ForexClear Contract (as such term is defined in the Procedures); (iv) in relation to the EquityClear Service, a Related EquityClear Contract (as such term is defined in the Procedures); (v) in relation to the Listed Interest Rates Service, a Related Listed Interest Rates Contract (as such term is defined in the Procedures)"Relevant Auction Contract"has the meaning given to the term in the Client Clearing Annex"Relevant Business"has the meaning as described in Default Rule 15(c)"Relevant Client Clearing Business"means the Client Clearing Business conducted by a particular Clearing Member in a particular Service"Relevant Contract"has the meaning assigned to it in the Client Clearing Annex"Relevant Default"has the meaning ascribed to it in Rule S1 of Part A of the Rates Service Default Fund Supplement - SwapClear, Rule F2 of the ForexClear Default Fund Supplement or Rule R2 of the RepoClear Default Fund Supplement, as applicable"Relevant FX Amounts"means, in respect of a ForexClear Option Clearing Member and a day, all amounts that are due to be received by such ForexClear Option Clearing Member on such day under a ForexClear Option Contract, ForexClear Swap Contract, ForexClear Deliverable Forward Contract and/or ForexClear Spot Contract in any ForexClear Currency"Relevant FX Liability"has the meaning assigned to it in Regulation 101"re-opening contract"means a contract arising pursuant to Regulation 30(b) or 30(c)"RepoClear Additional Payments Cap"means, in respect of a RCM on any date, an amount equal to the Clearing Member Current Collateral Balance of that RCM in connection with its RepoClear Business as at the date of the Default causing losses leading to an Insufficient Resources Determination (or, where such an Insufficient Resources Determination is made following concurrent Defaults, the date of the earliest Default)"RepoClear Business"means any transaction, obligation or liability arising out of any Fixed Income Contract

  • CFD Contract or "CFD" shall mean a contract which is a contract for difference by reference to fluctuations in the price of the relevant security or index;

  • Non-negotiated contract means a contract whose terms, other than the terms contained in point 11.C. (given below) are not negotiated between the parties to the financial contract and includes –

  • Assigned Contract shall have the meaning set forth in Section 1.1(b).

  • Liquidated Contract means any defaulted Contract as to which the Servicer has determined that all amounts which it expects to recover from or on account of such Contract have been recovered; provided that any defaulted Contract in respect of which the related Manufactured Home and, in the case of Land-and-Home Contracts, Mortgaged Property, have been realized upon and disposed of and the proceeds of such disposition have been received shall be deemed to be a Liquidated Contract.

  • Covered contract means a DoD prime contract for an amount exceeding the simplified acquisition threshold, except for a fixed-price contract without cost incentives. The term also includes a subcontract for an amount exceeding the simplified acquisition threshold, except for a fixed-price subcontract without cost incentives under such a prime contract.

  • Terminated Contracts has the meaning set forth in Section 5.6(a).

  • Assumed Contract has the meaning set forth in Section 2.1(b)(iv).

  • Prepaid contract means any Contract that has terminated or been prepaid in full prior to its scheduled expiration date (including because of a Casualty Loss), other than a Defaulted Contract.

  • Related Contracts is defined in clause (c) of Section 2.1.

  • Customer Contract means a Contract (or group of related Contracts) pursuant to which any Group Company, after giving effect to the Pre-Closing Business Transfers, licenses or otherwise provides products and services to customers of the Business.

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Qualified Contract A Contract that qualifies under the Code as an individual retirement annuity (“IRA”) or a Contract purchased under a Qualified Plan that qualifies for special tax treatment under the Code. Qualified Plan — A retirement plan that receives favorable tax treatment under Section 401, 403, 408, 408A or 457 of the Code. SEC — Securities and Exchange Commission.

  • Specified Contract means any of the following Contracts (together with all exhibits and schedules thereto) to which the Company or any Subsidiary is a party:

  • Third Party Contract means a contract between Metrolinx and any other Person which is in any way related to, impacts or is impacted by the Services and/or the Consultant’s acts or omissions, whether expressly identified to the Consultant or not.

  • O&M Contract means the operation and maintenance contract that may be entered into between the Concessionaire and the O&M Contractor for performance of all or any of the O&M obligations;

  • works contract means a contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in the execution of such contract;

  • Insured contract means any written: a. leases of premises; b. easement agreements, except those concerning construction or demolition operations abutting railroad property; c. obligation to insure a municipality as required by law or ordinance, except in connection with work for the municipality; d. sidetrack agreements; or e. elevator maintenance agreements.

  • Open Contract means a Contract which has not been closed out and which has not yet matured;

  • Assigned Contracts has the meaning set forth in Section 2.01(c).

  • Service Contract means, with respect to a Financed Vehicle, the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle.

  • Federal-Aid Contract means a contract in which the United States (federal) Government provides financial funding as so designated in the Information for Bidders.

  • Shared Contract shall have the meaning set forth in Section 2.8(a).

  • Key Sub-Contract means each Sub-Contract with a Key Sub-Contractor;

  • Customer Contracts has the meaning set forth in Section 2.1(b)(ii)(A).

  • Provider contract means any contract between a provider and a carrier (or a carrier's network,