Clearing License definition

Clearing License means a clearing license granted to a Clearing Member pursuant to Chapter 1 Part 1 Number 2.1.1 of the Clearing Conditions; as used in the FCM Clearing Conditions, the term does not include a clearing license granted to an FCM Clearing Member pursuant to Number 2 of the FCM Regulations.
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Examples of Clearing License in a sentence

  • A Clearing License will be granted upon the conclusion of, or an amendment to this effect to, a Clearing Agreement for the relevant Transaction Type.

  • Clearing Licenses as well as any rights and obligations resulting from a Clearing License may not be assigned or transferred by way of contractual agreement.

  • If a Clearing License ends for any other reasons, all related debit instructions shall terminate and such termination shall become effective in accordance with the foregoing sentence.

  • As specified in the relevant Clearing Agreement, a Clearing License is issued either as a general clearing license (a “ General Clearing License”) or a direct clearing license (a “Direct Clearing License”).

  • Prerequisite for a Direct Clearing License is a liable equity capital of the applying institution in an amount determined by Eurex Clearing AG.

  • In case of simple negligence (einfache Fahrlässigkeit), the liability of Eurex Clearing AG is restricted to damages typically foreseeable at the time of granting the Clearing License.

  • Upon written application, Eurex Clearing AG may grant a Clearing License for a Transaction Type if the relevant applicant meets the general prerequisites pursuant to Numbers 2.1.2, 2.1.3 or 2.3, as applicable, and the special prerequisites for the relevant Transaction Type set forth in the Special Clearing Provisions.

  • The granting of a Clearing License requires that Eurex Clearing AG has obtained all licenses and approvals that are required for the provision of Clearing towards the applicant in the relevant jurisdiction.

  • The Specific Lender License can, with the exception of a Specific Repo License pursuant to Chapter IV Part 3 Number 3.1, not be combined with any other Clearing License.

  • This Number 2.1.2 shall, unless otherwise provided in Part 6 Number 2, not apply to applicants for a Basic Clearing Member Clearing License.

Related to Clearing License

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.

  • Clearing means the clearing and removal of vegetation, whether partially or in whole, including trees and shrubs, as specified;

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • Clearing System Business Day means in relation to an Index, any day on which the principal domestic clearing systems customarily used for settling trades in securities comprising such Index is (or, but for the occurrence of an event beyond the control of the Company or the Hedging Counterparty as a result of which such clearing system cannot clear the transfer of such securities, would have been) open for the acceptance and execution of settlement instructions.

  • Clearing Organization means (a) The Depository Trust Company, or, if agreed to by Borrower and Lender, such other “securities intermediary” (within the meaning of the UCC) at which Borrower (or Borrower’s agent) and Lender (or Lender’s agent) maintain accounts, or (b) a Federal Reserve Bank, to the extent that it maintains a book-entry system.

  • Book-Entry Interest means a beneficial interest in a Global Certificate, ownership and transfers of which shall be maintained and made through book entries by a Clearing Agency as described in Section 9.4.

  • Clearing Agreement means Clearing, Settlement and Sponsorship Services Agreement by and between the Borrower and Fifth Third Bank dated as of June 30, 2009, as the same may be amended, modified, supplemented, restated or amended and restated from time to time.

  • European Clearing Systems means, collectively, Clearstream, Luxembourg and Euroclear.

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • Applicable Registry Operators means, collectively, the registry operators of top-­‐level domains party to a registry agreement that contains a provision similar to this Section 7.6, including Registry Operator.

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • Clearing Systems means, in relation to a Series of Securities, any of Euroclear, Clearstream, Luxembourg and DTC, as the case may be, and includes any additional or alternative clearing systems specified in the Issue Terms.

  • Book-Entry System means the Federal Reserve/Treasury book-entry system for receiving and delivering securities, its successors and nominees.

  • Clearing Rules means SGX-DC Clearing Rules as amended or supplemented from time to time;

  • Foreign Clearing Agency means Clearstream and the Euroclear Operator.

  • Recognised Clearing System means any clearing system listed in Section 246A of the Taxes Act (including, but not limited to, Euroclear, Clearstream Banking AG, Clearstream Banking SA and CREST) or any other system for clearing shares which is designated for the purposes of Chapter 1A in Part 27 of the Taxes Act, by the Irish Revenue Commissioners, as a recognised clearing system.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Clearing Participant means a bank or any person who submits a cheque, IBG or FAST to the Clearing House for clearing;

  • Clearing Corporation The meaning specified in Section 8-102(a)(5) of the UCC.

  • Book-Entry Capital Security means a Capital Security, the ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11.

  • Clearing Agency Participant means a broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency.

  • Clearing Agent means Clearstream Banking AG, Euroclear Bank S.A., and Clearstream Banking S.A. and such further or alternative clearing agent(s) or clearance system(s) as may be approved by the Issuer from time to time and notified to the Holders in accordance with General Condition 4 (each a “Clearing Agent” and together the “Clearing Agents”);

  • recognised institution means an institution of higher learning recognised by the University;

  • Full Entitlement ADR(s) “Full Entitlement ADS(s)” and “Full Entitlement Share(s)” shall have the respective meanings set forth in Section 2.12.

  • Foreign Securities Depository means a foreign securities clearing system qualifying as an Eligible Securities Depository (as defined in Section (b)(1) of Rule 17f-7 under the 0000 Xxx) that is listed on Schedule B annexed hereto, as amended from time to time pursuant to Section 4.5 hereof.