Settlement Participant definition

Settlement Participant means a person admitted as a participant under the Settlement Rules.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Settlement Participant means a participant which maintains an FPS Ledger Account for the purpose of settlement of funds in FPS and “its Settlement Participant” means, in relation to a Clearing Participant, a Settlement Participant with respect to whom it has been agreed with such Clearing Participant that such Settlement Participant shall permit payments by or to such Clearing Participant to be settled through such Settlement Participant’s FPS Ledger Account.

Settlement Participant. Has the meaning given in the ASX Settlement Operating Rules. Generally, Settlement Participant covers persons that are not Brokers but who satisfy certain eligibility criteria in the ASX Settlement Operating Rules. Term Meaning Sponsor Pirie Street Custodian Ltd (ABN 64 ▇▇▇ ▇▇▇ ▇▇▇, AFSL 240521) or such other Person as the Lender may nominate from time to time. Sponsorship Agreement The agreement between each Security Owner and the Sponsor or the Nominee and the Sponsor, the terms and conditions of which are set out in Part 1, Part 4 and Part 6.

Examples of Settlement Participant in a sentence

• The pro rata shares will be determined by dividing the total of the Settlement Payment plus any service award to each Settlement Participant and Excluded Individ ual who cashes a check by the total amount paid in settlement to all Settlement Participants and Excluded Individuals who cash their settlement check(s).

• Each Settlement Participant further acknowledges that the Released Claims are intended to include all Released Claims regardless of whether the Settlement Participant knows, is aware of, or suspects the claims or potential claims being released.

• However, in any circumstance, the Phone Cards will be evenly distributed among all Settlement Participants and each Settlement Participant will receive Phone Card(s) worth the same dollar amount.

• Checks issued to Settlement Participants will be made payable to the Settlement Participant.

• The Settlement Payments to each Settlement Participant shall be distributed as one payment (“Individual Settlement Payment”) and shall be equal to the portion of the Net Class Settlement Fund allocated to that person as calculated in Paragraph 17, plus the portion of the Net PAGA Settlement Amount allocated to that person in Paragraph 18, less applicable withholdings as described below.

• The Parties agree that, in the event that any taxing body determines that additional taxes are due from any Settlement Participant, such Settlement Participant assumes all responsibility for the payment of any such taxes and agrees to indemnify, defend, and hold Defendant harmless for the payment of such taxes, any failure to withhold, and any penalties associated therewith.

• For the avoidance of doubt, a Listing Market Participant who is not a Settlement Participant may obtain indirect access to the Settlement Facilitation Service in respect of the Approved Financial Products by entering into a settlement agreement with the Listing Market Operator or another party that is a Settlement Participant under which the Listing Market Operator or other party will act as settlement agent for the Listing Market Participant.

• Defendants agree to provide each Settlement Participant with a Settlement Phone Card with a face value of $5.00; provided, however, that Defendants agree to distribute a minimum of One Million Five Hundred Thousand Dollars ($1,500,000.00) worth of Settlement Phone Cards.

• If a Settlement Participant seeks to dispute the calculation of his or her dates of employment or work weeks, the Claims Administrator shall have the initial responsibility for resolving such dispute.

• Plaintiffs’ counsel shall determine these amounts by calculating the total amount that each Eligible Settlement Participant would receive if such person participated in this settlement and then adjusting such amounts, on a pro rata basis, for each Settling Plaintiff if less then all Eligible Settlement Participants opt to participate in the settlement.

More Definitions of Settlement Participant

Settlement Participant means any person receiving or handling funds for CIBC or the Beneficiary including but not limited to other financial institutions, CPA and SWIFT and their respective agents and service providers.

Settlement Participant means a participant of an Approved Settlement Facility who has approval to settle transactions in the facility.

Settlement Participant means a system participant which can settle transactions on his own account and for other system participants;

Settlement Participant means the Settlement Class Member who timely and properly submit a fully executed original Claim and Release Form, and a W-9 Form so that they are postmarked and mailed to the Claims Administrator by the Claim Deadline.