Rates Service Default Fund definition

Rates Service Default Fund means the combined service default fund established pursuant to the Rates Service Default Fund Supplement – SwapClear and the Rates Service Default Fund Supplement – Listed Interest Rate
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Rates Service Default Fund means the combined service default fund established
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Rates Service Default Fund means the combined service default fund establishedpursuant to the Rates Service Default Fund Supplement – SwapClear and the Rates Service Default Fund Supplement– Listed Interest Rate"Rates Service Default Fund Supplement – Listed Interest Rates"means the Supplement relating to Listed Interest Rates Business"Rates Service Default Fund Supplement – SwapClear"means the Supplement relating to the SwapClear Business"Rates Service Default Management Disclosure Notice"means the Rates Service Default Management Disclosure Notice as specified by the Clearing House from time to time"Rates Service Default Management Process"has the meaning assigned to it in the Rates Service DMP Annex in the Default Rules"Rates Service Default Management Process Completion Date"has the meaning assigned to it in the Rates Service DMP Annex in the Default Rules"Rates Service Default Period"means the Listed Interest Rates Default Period and/or SwapClear Default Period (as applicable)"Rates Service Determination Date"has the meaning assigned to it in the Rates Service DMP Annex in the Default Rules"Rates Service DMG"has the meaning assigned to it in the Rates Service DMP Annex in the Default Rules"Rates Service DMP"has the meaning assigned to it in the Default Rules"Rates Service Excess Loss"means the net sum or aggregate of net sums certified to be payable by a Defaulter by a Rule 19 Certificate in respect of Rates Service Business less (a) the proportion of the Capped Amount applicable to Rates Service Business under Rule 15(c) of the Default Rules and (b) any sums then immediately payable in respect of Rates Service Business Default Losses owed by such Defaulter by any insurer or provider of analogous services under any policy of insurance or analogous instrument written in favour of the Clearing House"Rates Service Fund Amount"has the meaning assigned to it in the Rates Service Default Fund Supplement"Rates Service Fund Amount– Listed Interest Rate"means the amount as determined in accordance with Rule CS2 of the Rates Service Default Fund Supplement
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Examples of Rates Service Default Fund in a sentence

  • If a Resignation Effective Date has occurred in respect of a Resigning Member and the SwapClear Service pursuant to Rule S(2)(e) of the Rates Service Default Fund Supplement, then the Clearing House will repay the SwapClear Contribution that it holds for such Clearing Member (to the extent it has not been applied under the Default Rules) to the Clearing Member’s relevant PPS account on such Resignation Effective Date.

  • For the purposes of calculating the SwapClear Non-Tolerance Weight of an SCM under Rule S1(f) of the Rates Service Default Fund Supplement – SwapClear, the Uncovered Stress Loss (as defined in Rule S1(f)) of an SCM shall be determined by reference to the SwapClear Contracts entered into (1) on behalf of the relevant SCM and (2) with respect to the SwapClear Clearing Clients and FCM Clients of such SCM.

  • Subject to Rules2.6 to 2.9 (inclusive) of this Annex, the resources available to the Clearing House and their order of use are defined in Rule 15 of the Default Rules as modified and/or supplemented by the Rates Service Default Fund Supplements.

  • For the purposes of calculating the SwapClear Non-Tolerance Weight of an SCM under Rule S1(f) of the Rates Service Default Fund Supplement – SwapClear, the Uncovered Stress Loss (as defined in Rule S1(f)) of an SCM shall be determined by reference to the SwapClear Contracts entered into (1) onbehalf of the relevant SCM and (2) with respect to the SwapClear Clearing Clients and FCM Clients of such SCM.

  • The Rates Service Default Fund is denominated in GBP, and all amounts referable to it shall be denominated, calculated, called and payable in GBP.

  • For the purposes of calculating the SwapClear Margin Weight under Rule S2(c) of the Rates Service Default Fund Supplement, the average daily requirement for initial margin applied to an SCM shall be determined by reference to the SwapClear Contracts comprising the SwapClear House Business of that SCM only.

  • Contributions to the Rates Service Fund A Rates Service Clearing Member's Contributions to the Rates Service Default Fund shall be calculated in accordance with Part A of this Rates Service Fund Supplement (in respect of SwapClear Contributions) and Part B of this Rates Service Fund Supplement (in respect of Listed Interest Rates Contributions) (as applicable).

  • A new Subsection I of the same section has been inserted to clarify that, in the event that the Listed Interest Rates portion of the Rates Service Default Fund equals the Default Fund Floor, the SwapClear portion of the Rates ServiceAppendix I Default Rules LCH LIMITED DEFAULT RULES SCHEDULE 6RATES SERVICE DEFAULT FUND SUPPLEMENT CS1.

  • The Clearing House will record any from a SwapClear Clearing Member, in accordance with Regulation 20 (Margin and Collateral), to cover such SwapClear Clearing Member’s exposure in relation to the Rates Service Default Fund (such Collateral an SCM has provided to meet its DFAM obligation to the SCM’s Proprietary Account.

  • Section S1 of Part A of the Rates Service Default Fund Supplement in the LCH Default Rules has been updated to show that the SwapClear non-tolerance weight is calculated using STLOIM and includes the member and their clients positions.

Related to Rates Service Default Fund

  • default fund means a default fund held by a CCP in accordance with Article 42 of Regulation (EU) No 648/2012;

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Termination Fee Event has the meaning ascribed thereto in Section 5.2(a);

  • Default under Specified Transaction provisions of Section 5(a)(v) will not apply to Party A and will not apply to Party B.

  • Availability Termination Date the earlier of (i) the date that is the seventh anniversary of the Closing Date and (ii) the date on which the Administrative Agent delivers to the Servicer a notice of termination as a result of a Termination Event in accordance herewith (or the date on which such termination becomes effective automatically pursuant to Section 7).

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Term Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Default Period means, with respect to any Defaulting Lender, the period commencing on the date of the applicable Funding Default and ending on the earliest of the following dates: (i) the date on which all Commitments are cancelled or terminated and/or the Obligations are declared or become immediately due and payable, (ii) the date on which (a) the Default Excess with respect to such Defaulting Lender shall have been reduced to zero (whether by the funding by such Defaulting Lender of any Defaulted Loans of such Defaulting Lender or by the non-pro rata application of any voluntary or mandatory prepayments of the Loans in accordance with the terms of Section 2.13 or Section 2.14 or by a combination thereof) and (b) such Defaulting Lender shall have delivered to Company and Administrative Agent a written reaffirmation of its intention to honor its obligations hereunder with respect to its Commitments, and (iii) the date on which Company, Administrative Agent and Requisite Lenders waive all Funding Defaults of such Defaulting Lender in writing.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Tax Event Repayment Date means the date set out in a notice from the Issuer to the Bondholders pursuant to Clause 10.4 (Early redemption option due to a tax event).

  • Note Default Interest Spread means a rate per annum equal to three percent (3.0%); provided, however, that if the weighted average of the Senior Note Default Rate and the Note B Default Rate would exceed the maximum rate permitted by applicable law, the note default interest spread shall equal (i) the rate at which the weighted average of the Senior Note Default Rate and the Note B Default Rate equals the maximum rate permitted by applicable law minus (ii) the Mortgage Loan Rate.

  • Benchmark Modification or Cessation Event means, in respect of the Benchmark any of the following has occurred or will occur:

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Cash Dominion Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrowers to maintain Availability of the greater of at least (a) $6,500,000.00 at any time, or (b) 12.5% of the Borrowing Base. For purposes of this Agreement, the occurrence of a Cash Dominion Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Cash Dominion Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) $6,500,000.00, or (y) 12.5% of the Borrowing Base for thirty (30) consecutive Business Days, in which case a Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Cash Dominion Event shall be deemed continuing (even if an Event of Default is no longer continuing and/or Availability exceeds the required amount for thirty (30) consecutive Business Days) at all times after a Cash Dominion Event has occurred and been discontinued on three (3) occasion(s) after the Closing Date. The termination of a Cash Dominion Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Cash Dominion Event in the event that the conditions set forth in this definition again arise.

  • Default Repayment Date means the settlement date set out by the Bond Trustee in a Default Notice requesting early redemption of the Bonds.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 3.50% above the Alternate Base Rate.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Lease Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Lease Event of Default.

  • Acceleration Date on any Security means the date on and after which the principal or any or all installments of interest, or both, are due and payable on any Security which has become accelerated pursuant to the terms of the Security.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.