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, all Metal recorded and identified in the Allocated Accounts (in the case of a Series backed by a Precious Metal) or Off-Warrant Accounts, title to which is evidenced by a Warehouse Receipt (in the case of a Series backed by a Base Metal) as being held for the Issuer for the account of such Series, 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 on behalf of the Issuer; and (iv) any Metal, Bills of Lading 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 Agreement(s).
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Examples of Underlying Metal in a sentence

  • ROLL CALL VOTE: YEAS: Trustees Scales, Styka, Veenstra, Wilson, Supervisor LeGoff,Treasurer Brixie, Clerk Dreyfus NAYS: NoneMotion carried unanimously.

  • Such Underlying Metal shall be used to meet the Issuer’s obligations under the relevant Series of Securities.

  • Please refer to Section II (Background) of Schedule PLB-1 for an overview of the Service 4 Company.

  • The Issuer shall accumulate such moneys until the accumulations, together with any other funds for the time being available for such payment, amount to at least the Pre-enforcement Minimum Accumulated Amount and then such accumulations and funds (after deduction of, or provision for, any applicable Taxes) shall be applied as specified in Condition 5(c) (Liquidation of Underlying Metal following an Early Redemption Event or the Final Redemption Valuation Date).

  • None of the Issuer, the Trustee or the Security Trustee shall be liable for any decrease in the amount payable to ETC Holders as a result of any failure to actively manage the Underlying Metal.

  • The amount payable to the ETC Holders upon any Early Redemption or Final Redemption of the ETC Securities may be less than if the Underlying Metal were actively managed.

  • Follow-up with participants throughout the study did not take place, with personnel returning to assess iron statuses post- intervention (week 52), (Rodriguez-Vivaldi & Beerman).

  • The investment objective of the ETC Securities is to allow an investor to gain an economic exposure to an Underlying Metal (and, in the case of FX Hedged ETC Securities, also offset any loss or gain in the value of the ETC Security attributable to FX movements).

  • The Issuer’s ability to pay the Final Redemption Amount or the Early Redemption Amount on the Scheduled Maturity Date or Early Redemption Date (as applicable) is dependent on its receipt of the disposal proceeds of the Underlying Metal from the Metal Agent.

  • In the event of any loss of Underlying Metal that cannot be recovered, the Issuer will be reliant on the Custodian or the relevant Primary Sub-Custodian being able to claim successfully on its insurance.


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 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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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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Related to Underlying Metal

  • Underlying Note means the one or more promissory notes executed by an obligor evidencing a Loan.

  • 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 or redemption of the Debentures and upon exercise of the Warrants and issued and issuable in lieu of the cash payment of interest on the Debentures in accordance with the terms of the Debentures.

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

  • Convertible Mortgage Loan Any individual Adjustable Rate Mortgage Loan purchased pursuant to this Agreement which contains a provision whereby the Mortgagor is permitted to convert the Adjustable Rate Mortgage Loan to a Fixed Rate Mortgage Loan in accordance with the terms of the related Mortgage Note.

  • 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 Common Stock means the Common Stock into which the Notes are convertible or issued upon any such conversion.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Prefunded Warrant Shares means the shares of Common Stock issuable upon exercise of the Prefunded Warrants.

  • Underlying Instruments The loan agreement, credit agreement, indenture or other agreement pursuant to which a Loan or Permitted Investment has been issued or created and each other agreement that governs the terms of or secures the obligations represented by such Loan or Permitted Investment or of which the holders of such Loan or Permitted Investment are the beneficiaries.

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

  • 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 January 31, 2011. 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 (128.67); iShares Russell 2000 Index Fund (77.95); iShares MSCI EAFE Index Fund (59.44); and iShares MSCI Emerging Markets Index Fund (45.81). 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 135% of the Face Amount of this Security. The “Threshold Price” is equal to 85% of the Starting Price. The “Participation Rate” is 125%.

  • Underlying Obligor means with respect to an Underlying Obligation, the issuer in the case of a Bond, the borrower in the case of a Loan, or the principal obligor in the case of any other Underlying Obligation.

  • Underlying Company means the issuer of the relevant Security as specified above, in each case subject to adjustment in accordance with Condition 13 (Adjustments).

  • Underlying Documents means, together, the Contracts, the Refund Guarantees, the Supervision Agreements and the Management Agreements and "Underlying Document" means any of them.

  • 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.

  • Index Linked Note means an Index Linked Interest Note and/or an Index Linked Redemption Note.

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

  • Variable Priced Equity Linked Instruments shall have the meaning ascribed to such term in Section 4.13.