Common use of Simultaneous Transaction Clause in Contracts

Simultaneous Transaction. On the Purchase Date, Custodian shall debit Buyer’s Account in an amount equal to the Purchase Price and credit the Purchase Price to Seller’s Account against the transfer of the Purchased Securities required to attain the Margin Value from Seller’s Account to Buyer’s Account. On the Repurchase Date, Custodian shall transfer the Purchased Securities from Buyer’s Account to Seller’s Account against the credit to Buyer’s Account of immediately available funds in an amount specified by Seller which shall not be less than the Purchase Price and the debit of such amount from Seller’s Account. Buyer and Seller agree that in effecting Transactions transfers between Buyer’s Account and Seller’s Account are intended to be, and shall be deemed to be, simultaneous.

Simultaneous Transaction. On the Purchase Date, Custodian shall debit Buyer’s Account in an amount equal to the Purchase Price and credit the Purchase Price to Seller’s Account against the transfer of the Purchased Securities required to attain the Margin Value from Seller’s 's Account to Buyer’s 's Account. On the Repurchase Date, Custodian shall transfer the Purchased Securities from Buyer’s 's Account to Seller’s 's Account against the credit to Buyer’s 's Account of immediately available funds in an amount specified by Seller which shall not be less than the Purchase Price and the debit of such amount from Seller’s 's Account. Buyer and Seller agree that in effecting Transactions transfers between Buyer’s 's Account and Seller’s 's Account are intended to be, and shall be deemed to be, simultaneous.