Clearance System Sample Clauses
The Clearance System clause establishes the procedures and requirements for obtaining necessary approvals or permissions before certain actions can be taken under the agreement. Typically, this clause outlines the steps parties must follow to secure clearances, such as regulatory approvals, third-party consents, or internal authorizations, and may specify timelines or documentation needed. Its core practical function is to ensure that all required permissions are in place to avoid legal or operational obstacles, thereby reducing the risk of non-compliance or delays in the execution of the contract.
Clearance System. There is no outstanding payment obligation in relation to the Security Assets to any Clearance System or custodian.
Clearance System. 14 Clearstream.............................................................................................14
Clearance System. (a) After this Security becomes enforceable in accordance with Clause 7.1 (Enforcement event) and without prejudice to Clause 17 (Release), the Chargor must, if so requested by the Investor, take whatever action the Investor may request for the dematerialisation or rematerialisation of any Security Asset held in a Clearance System.
(b) The Investor may, after this Security becomes enforceable in accordance with Clause 7.1 (Enforcement event) and without prejudice to Clause 17 (Release), at the expense of the Chargor, take whatever action is required for the dematerialisation or rematerialisation of the Security Assets as necessary.
Clearance System. (a) The Chargor must, if so requested by the Security Agent, take whatever action the Security Agent may request from time to time for the dematerialisation or rematerialisation of any Security Asset held in a Clearance System if an Event of Default is continuing, including: (i) the execution of any transfer, conveyance, assignment or assurance of the Shares to the Custodian; or (ii) the giving of any notice, order or direction to any person.
(b) The Chargor shall not dispose of any Shares to any party.
(c) Without prejudice to the rest of this clause 6, the Security Agent may, at the expense of the Chargor, take whatever action is required for the dematerialisation or rematerialisation of the Security Asset as necessary if an Event of Default is continuing.
Clearance System. The Chargor shall indemnify the Security Agent within three (3) Business Days of demand against any loss, liability, cost, claims or expense which the Security Agent may incur as a result of having the Security Assets (or any part thereof) credited to any account maintained by the Security Agent or the Custodian with any Clearance System.
Clearance System. DTC. Calculation Agent: Dealer; provided that, following the occurrence and during the continuance of an Event of Default of the type provided in Section 5(a)(vii) of the Agreement with respect to which Dealer is the Defaulting Party, Counterparty shall have the right to designate a leading dealer in the over-the-counter equity derivatives market to act as the Calculation Agent. In the event that the Calculation Agent makes any determination or calculation pursuant to this Confirmation, the Agreement or the 2002 Definitions, promptly following receipt of a written request from either party hereto, the Calculation Agent shall provide an explanation in reasonable detail of the basis for such determination or calculation as promptly as practicable, it being understood that the Calculation Agent shall not be obligated to disclose any proprietary or confidential models or other information that is proprietary or may be subject to contractual, legal or regulatory obligations not to disclose.
Clearance System. (a) The Chargor must (i) if so requested by the Chargee or (ii) following the occurrence of an Enforcement Event, promptly take whatever action the Chargee may reasonably request for the dematerialisation or rematerialisation of any Collateral Securities held in a Clearance System.
(b) Without prejudice to the rest of this Clause, the Chargee may, at the expense of the Chargor, take whatever reasonable action is required for the dematerialisation or rematerialisation of the Collateral Securities belonging to the Chargor as necessary.
Clearance System. The Depository Trust Company
Clearance System. (a) The Chargor shall, if so requested by the Security Agent (acting reasonably):
(i) instruct any clearance system to transfer any Investment held by it for the Chargor or its nominee to an account of the Security Agent or its nominee with that clearance system; and
(ii) take whatever action the Security Agent may request for the dematerialisation or re- materialisation of any Investment held in any clearance system.
(b) Without prejudice to the rest of this Clause 6.7 (Clearance system), the Security Agent may, at the cost of the Chargor, take whatever action is required for the dematerialisation or re-materialisation of any Investment as necessary.