CBL System definition
CBL System means the clearance and settlement system for securities operated by CBL, including all services offered by CBL in respect of securities held or recorded in any account as set out in the CMSAs or in the operating procedures of the CBL System made available from time to time by CBL.
Examples of CBL System in a sentence
All fees, costs, expenses or other amounts due by the Chargor or the Secured Party to CBL in relation with the Collateral Account and/or under the CMSAs shall be debited from an account in the name of the Chargor or in the name of the Secured Party (respectively) in the CBL System and shall not be debited from the Collateral Account.