Underlying Metal definition

Underlying Metal means (i) all Metal recorded and identified in the Secured Allocated Account and recorded in the Secured Unallocated Account; and (ii) any Metal recorded in the Subscription Account in relation to a Subscription Settlement Amount in respect of which the Subscription Order has been settled by the issue of ETC Securities to the relevant Authorised Participant but which has not yet been transferred to the Secured Accounts.
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Underlying Metal means, in respect of a Series, all Metal recorded and identified in the Allocated Accounts including, for the avoidance of doubt, any Over-allocated Metal and any Metal held by the Metal Counterparty pending any sale of such Metal in accordance with the terms of the Metal Sale Agreement.
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Underlying Metal means, in respect of a Series, without duplication, all Metal recorded and identified in the Allocated Accounts (in the case of a Series backed by a Precious Metal) or Off- Warrant Accounts (in the case of a Series backed by a Base Metal) as being held for the Issuer for the account of such Series, any Metal in transit transferred to the Issuer in respect of which the Bills of Lading and related Final Releases are held by the Transit Document Sub-Custodian, any LME Warrants held in an LME Clearing and Warrant Sub-Account for the Issuer for the account of such Series, in each case including, for the avoidance of doubt: (i) any Over-allocated Metal; (ii) any TER Metal; (iii) in the case of a Series of ETC Securities backed by a Base Metal, any Metal represented by a Bill of Lading or LME Warrants held by the Custodian with a Primary Sub-Custodian on behalf of the Issuer; and (iv) any Metal, Bills of Lading and (iii) any Metal, including Metal referenced in any Bills of Lading and related Final Releases or LME Warrants held by the Metals Counterparties pending any sale of such Metal on behalf of the Issuer in connection with an Early Redemption or Final Redemption, in accordance with these Conditions and the terms of the Metals Counterparty Agreements.
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Examples of Underlying Metal in a sentence

  • Rent must be paid for Underlying Metal in stock at 31 March (or such other dates as the Exchange may prescribe) in each year by direct settlement between holders of Warrants and Warehouses.

  • A Warehouse may move Underlying Metal between its own Authorised Warehouses within the same listed location at its own risk and expense subject to complying with Clause 3.3.

  • The stock of Underlying Metal under Warrant at the Warehouse, together with Cancelled Tonnage, must be reported to the Exchange, as prescribed in the LMEsword Regulations and Operating Procedures.

  • Evidence of the cancellation of all Warrants and Immobilised Warrants (and a copy of the original Immobilised Warrant in the event that it has been lost, stolen or destroyed) must be securely retained and be made available for inspection by the Exchange for five years or (if later) until any replacement Warrant is surrendered for cancellation and Underlying Metal take-up.


More Definitions of Underlying Metal

Underlying Metal means, in respect of a Series of Securities, (i) all Metal in aggregate at any time held by the Custodian on behalf of the Issuer or by any Sub-Custodian on behalf of the relevant client of the Custodian, which for the Custodian’s own purposes is the Issuer, whether in an Allocated Account or in an Unallocated Account in respect of such Series of Securities, provided that Underlying Metal shall exclude any Metal deposited in an Unallocated Account of such Series by an Authorised Participant in connection with a Subscription Order in respect of which the relevant Securities have not been issued to the relevant Authorised Participant; and (ii) all Metal which a Metal Counterparty is required, pursuant to the relevant Metal Sale Agreement, to hold on trust for the Issuer pending receipt by the Issuer of the relevant cash proceeds from such Metal Counterparty in respect of a Metal Sale.
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Underlying Metal means the Metal held in the Secured Allocated Accounts, which backs the Metal Securities.
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Underlying Metal means, in relation to a Warrant, Immobilised Warrant, Metal Entitlement or an Extracted Warrant, the Underlying Metal described therein as (i) relating to that Warrant, Immobilised Warrant, Metal Entitlement or Extracted Warrant (as applicable) and (ii) in the case of a Warrant or Immobilised Warrant only, held by the related Warehouse under the LMEsword Regulations;
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Underlying Metal means, in respect of a Series of Securities, (i) all Metal in aggregate at any time held by the Custodian on behalf of the Issuer or by any Sub-Custodian on behalf of the relevant client of the Custodian, which for the Custodian’s own purposes is the Issuer, whether in an Allocated Account or in an Unallocated Account in respect of such Series of Securities, provided that Underlying Metal shall exclude any Metal deposited in an Unallocated Account of such Series by an Authorised Participant in connection with a Subscription Order in respect of
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Related to Underlying Metal

  • Underlying Market means the relevant market where the Underlying Asset of a CFD is traded.

  • Underlying Collateral means, with respect to a Loan Asset, any property or other assets designated and pledged or mortgaged as collateral to secure repayment of such Loan Asset, as applicable, including, without limitation, mortgaged property and/or a pledge of the stock, membership or other ownership interests in the related Obligor and all proceeds from any sale or other disposition of such property or other assets.

  • Underlying Reference Value means, in respect of an Underlying Reference and a SPS Valuation Date, (i) the Underlying Reference Closing Price Value for such Underlying Reference in respect of such SPS Valuation Date (ii) divided by the relevant Underlying Reference Strike Price.

  • Underlying Reference Strike Price means, in respect of an Underlying Reference, the Underlying Reference Closing Price Value for such Underlying Reference on the Strike Date.

  • Underlying Asset means the object or underlying asset in a CFD which may be Currency Pairs (for FX Contracts), Equity Indices, base or precious Metals, Forwards, Commodities, Stocks, Shares Indices and Futures. It is understood that the list is subject to change and Clients must refer each time on the Trading Platform.

  • Underlying Assets With respect to a Loan, any property or other assets designated and pledged as collateral to secure repayment of such Loan, including, without limitation, to the extent provided for in the relevant Underlying Instruments, a pledge of the stock, membership or other ownership interests in the related Obligor and all Proceeds from any sale or other disposition of such property or other assets.

  • Underlying Shares means the shares of Common Stock issued and issuable upon conversion of the Preferred Stock, upon exercise of the Warrants and issued and issuable in lieu of the cash payment of dividends on the Preferred Stock in accordance with the terms of the Certificate of Designation.

  • Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Level in respect of such day.

  • Underlying Instrument means the loan agreement, credit agreement or other customary agreement pursuant to which a Collateral Obligation has been created or issued and each other agreement that governs the terms of or secures the obligations represented by such Collateral Obligation or of which the holders of such Collateral Obligation are the beneficiaries.

  • Underlying Reference means as set out in §26(a) above.

  • Underlying Index means each of the S&P 500 Index, the Russell 2000 Index, the MSCI EAFE Index, and the MSCI Emerging Markets Index. The “Pricing Date” shall mean September 27, 2010. The “Starting Price” is 100. The “Ending Price” will be calculated based on the weighted returns of the Basket Components and will be equal to the product of (i) 100 and (ii) an amount equal to 1 plus the sum of: (A) 45% of the Component Return of the SPDR S&P 500 ETF Trust; (B) 20% of the Component Return of the iShares Russell 2000 Index Fund; (C) 20% of the Component Return of the iShares MSCI EAFE Index Fund; and (D) 15% of the Component Return of the iShares MSCI Emerging Markets Index Fund. The “Component Return” of a Basket Component will be equal to: Final Component Price – Initial Component Price Initial Component Price where, • the “Initial Component Price” is the Fund Closing Price of such Basket Component on the Pricing Date; and • the “Final Component Price” will be the Fund Closing Price of such Basket Component on the Calculation Day. The Initial Component Prices of the Basket Components are as follows: SPDR S&P 500 ETF Trust (114.32); iShares Russell 2000 Index Fund (66.82); iShares MSCI EAFE Index Fund (55.10); and iShares MSCI Emerging Markets Index Fund (44.02). The “Fund Closing Price,” with respect to a Basket Component on any Trading Day, means the product of (i) the Closing Price of one share of such Basket Component (or one unit of any other security for which a Fund Closing Price must be determined) on such Trading Day and (ii) the Adjustment Factor applicable to such Basket Component on such Trading Day. The “Closing Price” with respect to a share of a Basket Component (or one unit of any other security for which a Closing Price must be determined) on any Trading Day means the price, at the scheduled weekday closing time, without regard to after hours or any other trading outside the regular trading session hours, of the share on the principal United States securities exchange registered under the Securities Exchange Act of 1934, as amended, on which the share (or any such other security) is listed or admitted to trading. The “Adjustment Factor” means, with respect to a share of a Basket Component (or one unit of any other security for which a Fund Closing Price must be determined), 1.0, subject to adjustment in the event of certain events affecting the shares of such Basket Component. See “Anti-dilution Adjustments Relating To A Basket Component; Alternate Calculation—Anti-dilution Adjustments.” The “Capped Value” is 145% of the Face Amount of this Security. The “Threshold Price” will be equal to 85% of the Starting Price. The “Participation Rate” is 125%.

  • Underlying Securities means any securities issuable on conversion, exchange or exercise of compensation securities.

  • Replacement Price means the price, determined by Buyer in a commercially reasonable manner, at which Buyer purchases (if at all) substitute SRECs having the same or subsequent Reporting Year as those SRECs not delivered by Seller for the deficiency or, absent such a purchase, the Market Price for such quantity of SRECs at or during the time that Seller fails to deliver the SRECs, provided that the Market Price shall never exceed the solar alternative compliance payment.

  • Pre-Funded Warrant Shares means the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants.

  • Underlying Security means a security issued or transferred, or to be issued or transferred, in accordance with the terms of a convertible security, an exchangeable security or a multiple convertible security;