Succeeding system means the current reciprocal retirement system of record that follows a person’s membership in a preceding retirement system; and
Clearing System Business Day means in relation to an Index, any day on which the principal domestic clearing systems customarily used for settling trades in securities comprising such Index is (or, but for the occurrence of an event beyond the control of the Company or the Hedging Counterparty as a result of which such clearing system cannot clear the transfer of such securities, would have been) open for the acceptance and execution of settlement instructions.
Operating System refers to the software that manages Hardware for Programs and other software.
TARGET2 System means the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) system or any successor thereto.
Monitoring System means a system established by BNY to fulfill the Responsibilities specified in clauses (d) and (e) of Section 1 of Article III of this Agreement.
Market Operations Center means the equipment, facilities and personnel used by or on behalf of a Market Participant to communicate and coordinate with the Office of the Interconnection in connection with transactions in the PJM Interchange Energy Market or the operation of the PJM Region.
Net metering system means a facility for the production of electrical energy that: