Automatic Settlement definition

Automatic Settlement means the procedure whereby at the option of a Participant the System will automatically search for and allocate Securities to a Transaction on Settlement Date which is either a sale of a Security Element or a Repurchase Transaction without the need for the Participant to manually allocate such Securities to that Transaction on Settlement Date.
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Examples of Automatic Settlement in a sentence

  • We pay Proceeds under the Automatic Settlement Option, unless You or Your Beneficiary elect to apply all or part of Death or Maturity Proceeds to provide payments under another Settlement Option or in a lump sum.

  • If You do not select a Settlement Option within 60 days of Maturity, the Automatic Settlement Option will take effect.

  • The Automatic Settlement Option is life income with five years certain unless otherwise provided under the Internal Revenue Code.

  • For this purpose, the value of the Stock Appreciation Rights that are vested will be equal to the product obtained by multiplying (1) the number of Stock Appreciation Rights that are vested, by (2) the amount by which the Fair Market Value of a Share on the Automatic Settlement Date exceeds the ▇▇▇▇▇ ▇▇▇▇▇ per Right identified above.

  • If the Fair Market Value of a Share on the date of exercise or the Automatic Settlement Date is less than or equal to the ▇▇▇▇▇ ▇▇▇▇▇ per Right identified above, then no amount is payable with respect to the Stock Appreciation Rights exercised or subject to automatic settlement.

  • Subject to any payment obligation, upon the date of exercise or the Automatic Settlement Date, the Stock Appreciation Rights exercised or subject to automatic settlement (whether or not resulting in a payment) will terminate.

  • With respect to Book-Entry Warrants subject to automatic exercise (other than Book-Entry Warrants and Warrants subject to postponed exercise following the occurrence of an Extraordinary Event or an Exercise Limitation Event as described in Section 2.03(b)), the Company shall make available to the Warrant Agent, not later than 3:00 p.m., New York City time, on the Automatic Settlement Date, funds in an amount equal to, and for the payment of, the aggregate Cash Settlement Value of such Warrants.

  • Inbound Transactions received into the Settlement Account in the half hour period before Automatic Settlement taking place may not be included in that Automatic Settlement but shall be included in the next Automatic Settlement.

Related to Automatic Settlement

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • Cash Settlement Date means, for each Financially Settled Futures Transaction, the Business Day determined by Exchange from time to time in accordance with industry practice for such Transaction, as posted on Exchange’s Website not less than one month prior to the occurrence of such date, other than Invoices issued as a result of a Contracting Party’s Default or under the Close- out Procedure which amounts require payment immediately;

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • TARGET2 Settlement Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System is open.