Examples of Xxxxxx Entity in a sentence
All Margin is held as Margin by each XX Xxxxxx Entity both for itself as a secured party and as agent and bailee of each other XX Xxxxxx Entity, and each XX Xxxxxx Entity acknowledges that it is so acting and that it is on notice of the security interest you have granted to each other XX Xxxxxx Entity.
Each XX Xxxxxx Entity is authorized to transfer or request the transfer of Margin or property, including cash, to or from any other XX Xxxxxx Entity to satisfy any of your Obligations under any master repurchase agreement or securities lending agreement, including forms of such agreements is published by the Bond Market Association (“BMA”), BMA and the International Securities Market Association (“ISMA”), and the International Securities Lenders Association (“ISLA”).
Nothing contained herein shall be construed as imposing liability on any XX Xxxxxx Entity as a principal party in connection with any Clearing Transaction in which it is acting as agent and you shall not, under any circumstance, represent to any third party broker or dealer or any other entity that any XX Xxxxxx Entity acts as a guarantor of any such Clearing Transaction.
Each Activity hereunder has been entered into in consideration of each other Activity hereunder and, unless otherwise determined by XX Xxxxxx, (i) your performance of each and every one of your Obligations when due is a condition precedent to XX Xxxxxx’x performance of its Obligations to you and (ii) the Obligation of each XX Xxxxxx Entity to you shall be suspended and shall not mature until you have paid and performed in full all of your Obligations when due to each XX Xxxxxx Entity.
For the avoidance of doubt, each XX Xxxxxx Entity that is a party to a Governing Agreement may exercise any rights thereunder separately from the exercise of any rights under this Agreement.