Settlement Bank means a participant whose PM account or sub-account is used to settle AS payment instructions,
Settlement Bank means Settlement Member or its Alternate Submission Location through which the Settlement Member provides CLS third party services.
Settlement Bank means a bank designated as such by Clearing Corporation from time to time for settlement of transactions.
Examples of Settlement Bank in a sentence
The Settlement Bank acknowledges that (i) the Securities represented by the Global Securities shall be held to the order of the Company as set out above and (ii) the net subscription monies for the Securities received in the Commissionaire Account (i.e., less the commissions and expenses deducted from the subscription monies) will be held on behalf of the Company until such time as they are transferred to the Company’s order.
The Settlement Bank undertakes that the net subscription monies for the Securities (i.e., less the commissions and expenses deducted from the subscription monies) will be transferred to the Company’s order promptly following receipt of such monies in the Commissionaire Account.
More Definitions of Settlement Bank
Settlement Bank means a settlement member of the CHAPS and Town Clearing systems who has entered into contractual arrangements with the CGO to provide Assured Payment facilities for members of the CGO;
Settlement Bank means the bank which maintains the settlement accounts of all the member banks for settlement of clearing and / or other obligations.
Settlement Bank means a bank holding accounts with regards to payments, where the discharge of obligations arising from a payment system takes place;
Settlement Bank means a recognised bank which Giveall uses to settle (i.e. to pay into) the merchant or any other funds.
Settlement Bank means a ►M3 PM account holder ◄ whose PM account or sub-account is used to settle payment instructions submitted by an ancillary system via the ASI;
Settlement Bank means a duly licensed commercial banking institution accredited by SCCP for the Clearing and Settlement of the Cash Element of SCCP- Eligible Trades.
Settlement Bank means a participant whose PM account or sub-account is used to settle ancillary system payment instructions,