Settlement of Transactions Clause Samples

Settlement of Transactions. 8.1 Upon completing a Transaction one of the following shall apply: a. The Client shall be liable for the Difference if the Transaction is: i. sell, and the closing price of the Transaction is higher than the opening price of the Transaction; or ii. buy, and the closing price of the Transaction is lower than the opening price of the Transaction. b. The Client shall receive the Difference if the Transaction is: i. sell, and the closing price of the Transaction is lower than the opening price of the Transaction; or ii. buy, and the closing price of the Transaction is higher than the opening price of the Transaction. 8.2 Unless the Parties agree otherwise, all sums for which either Party is liable under paragraph 8.1 of this Appendix are immediately payable upon closing or expiration of the Transaction. The Client hereby authorizes the Company to debit or credit the relevant Client Account with the relevant sums at the closing of each Transaction.

Settlement of Transactions. Subject to Article 3 and Section 4.2 of this Agreement, ▇.▇. ▇▇▇▇▇▇ will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes ▇.▇. ▇▇▇▇▇▇ to deliver Financial Assets or payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of ▇.▇. ▇▇▇▇▇▇, and the risk of loss arising from any such action will be borne by the Customer. In the case of the failure of the Customer’s counterparty (or other appropriate party) to deliver the expected consideration as agreed, ▇.▇. ▇▇▇▇▇▇ will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, ▇.▇. ▇▇▇▇▇▇ will provide information reasonably requested by the Customer that ▇.▇. ▇▇▇▇▇▇ has in its possession to allow the Customer to enforce rights that the Customer has against the Customer’s counterparty, but neither ▇.▇. ▇▇▇▇▇▇ nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions a. Orders shall be placed and settlement shall be made at the time and in the manner provided in the rules and procedures relating to Fund/SERV and Networking. Service Provider will transmit the dollar amount of each purchase order to the relevant Fund or its agent and in accordance with NSCC standard processing procedures. However, if one or more Funds has determined to settle redemption transactions for all of its shareholders on a delayed basis (more than one Business Day, but in no event more than seven calendar days, after the date on which the redemption order is received, unless otherwise permitted by an order of the SEC under Section 22(e) of the 1940 Act, MBSC shall be permitted to delay sending redemption proceeds to Service Provider by the same number of days that the Fund is delaying sending redemption proceeds to the other shareholders of the Fund. On any Business Day when the Federal Reserve Wire Transfer System is closed, all communication and processing rules will be suspended for the settlement of Orders. Orders will be settled on the next Business Day on which the Federal Reserve Wire Transfer System is open, and the Effective Trade Date will apply to that settlement. b. In the event that MBSC cannot verify redemption proceeds due to system problems or other unforeseen circumstance, MBSC may settle trades and forward redemption proceeds in accordance with this Agreement based on MBSC information furnished by Service Provider. If a trade settlement based on Service Provider information results in an error, MBSC shall notify Service Provider orally and confirm in writing the name of the Fund, the Account number and the date and amount of the error. If the error results in an overpayment, it shall be corrected by debiting the affected Account or by wire. If the error results in an underpayment, it shall be corrected by either crediting the affected Account or remitting the credit by check or wire as Service Provider shall direct.

Settlement of Transactions. (a) Subject to Section 3 and Section 4.2, J.▇. ▇▇▇▇▇▇ will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.▇. ▇▇▇▇▇▇ to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.▇. ▇▇▇▇▇▇, and the risk of loss arising from any such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.▇. ▇▇▇▇▇▇ will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.▇. ▇▇▇▇▇▇ will provide information reasonably requested by the Customer that J.▇. ▇▇▇▇▇▇ has in its possession to allow the Customer to enforce its rights against the Customer’s counterparty, but neither J.▇. ▇▇▇▇▇▇ nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action. (b) Except to the extent J.▇. ▇▇▇▇▇▇ and the Customer have agreed to treat settlement of a transaction under the contractual settlement date accounting basis set forth in Section 2.5, J.▇. ▇▇▇▇▇▇ will post such transaction on the date on which the cash or Financial Assets received as consideration for the transaction is actually received and settled by J.▇. ▇▇▇▇▇▇. (c) J.▇. ▇▇▇▇▇▇ reserves the right to reverse any transactions that are credited to the Accounts due to mis-postings, errors and other similar actions.

Settlement of Transactions. The Company shall proceed to a settlement of all transactions upon execution of such transactions. Acquisition of a financial contract is completed when the financial contract has been customized, the premium (or the margin, as the case may be) has been calculated and payment has been verified. You agree to be fully and personally liable for the due settlement of every transaction entered into under your account with the Company.

Settlement of Transactions. 15.1. The Company shall proceed to a settlement of all transactions upon execution of such transactions. Unless otherwise agreed, the settlement of Transactions shall be in accordance with the normal practice for the Financial Instrument or market concerned. 15.2. The Client Account Statement shall be available via the Company’s Trading Platform.

Settlement of Transactions. User agrees that it is User’s absolute, unconditional, and unassignable obligation, in connection with each securities transaction effected by User on the Exchange to ensure the timely delivery of the subject securities and/or funds as well as any required remittance of interest, dividend payments and/or other distributions in compliance with applicable laws and rules, including, without limitation, relevant rules under the Securities Exchange Act of 1934, as amended (the “Act”) as well as the rules of any qualified clearing agency. User will promptly notify the Exchange in writing upon becoming aware of any material change in or to User’s clearing arrangements. The Exchange retains the right to break any trade without liability to User or any of User’s customers in accordance with Exchange Rule 521 (Nullification and Adjustment of Option Transactions Including Obvious Errors), as may be amended or re-numbered from time to time.

Settlement of Transactions. 6.1 When transactions are undertaken on the Investor’s behalf, they will be due for settlement in accordance with market requirements and the relevant contract note or advice. Pese settlement terms will vary dependent upon the market and securities dealt in. Pe contract note will specify the settlement date. As stated above, the Investor shall ensure (via Puma Investments) that the Custodian receives the necessary investments, documents or cash (as the case may be) in order for the Custodian to settle the transaction on the Investor’s behalf. Pe Custodian must receive any cash in cleared funds in sufficient time prior to the settlement date in order that it can make the necessary payment. 6.2 Pe Investor hereby undertakes that any cash or investments held by or transferred to the Custodian by the Investor will be free from any right of a third party to make claims against that money or those investments. In particular, it is the Investor’s obligation to make sure that no other person will be entitled to: (a) security rights over them, such as a Mortgage or a Charge; (b) any right to withhold or retain them, such as a Lien; (c) any other rights to have any of the cash or investments paid or transferred to them or to prevent any transfer of such cash or investments from going ahead; or (d) any right to be paid all or any of the proceeds of a transaction; so that settlement on the Investor’s transaction can take place. 6.3 In order to settle transactions on the Investor’s behalf, the Custodian will need to deal with the other party to the transaction (the “counterparty”). If a transaction has to be settled through a CCP or CSD the specific provisions set out in clause 9 shall apply. 6.4 Pe Investor agrees that it will not have any rights to cash or investments which are due to be received by the Investor following a transaction until it has performed its own obligations in relation to that transaction and the Custodian has been able to settle that transaction on the Investor’s behalf. Similarly, the Custodian has no obligation to account to the Investor for any such cash or investments until the Investor has performed its obligations and the transaction has been settled. Until that has happened, the Custodian is entitled, without giving the Investor any further notice, to sell or otherwise dispose of any such investments and apply the proceeds or any cash it receives in relation to the transaction in order to discharge or reduce any of the Investor’s obligati...

Settlement of Transactions. Settlements of transactions may be effected in accordance with trading and processing practices customary in the jurisdiction or market where the transaction occurs. The Company acknowledges that this may, in certain circumstances, require the delivery of cash, securities, or other Property without the concurrent receipt of cash, securities or other Property, and, subject to section 4.6.2, in such circumstances, the Trustee and its Agents shall have no responsibility for non-delivery (or late delivery) of securities or other Property, or for non-receipt of payment (or late payment) by the counterparty.