Client Clearing Agreement definition
Examples of Client Clearing Agreement in a sentence
The Client Clearing Agreement contains, in particular, provisions regarding the establishment, margining, termination or transfer of clearing contracts between the Clearing Member and the Bank (each a "Client Clearing Transaction") relating to the respective Contracts entered into the execution system of the central counterparties for Indirect Clearing purposes.
For these Transactions, Section 7 paragraph (1) sentences 2 to 4 and paragraph (3) of the Framework Agreement apply, provided that references to Contracts, the Rules and Regulations and collateral are to be replaced with references to Client Clearing Transactions, the Client Clearing Agreement and collateral pursuant to the Client Clearing Agreement.
For these Transactions, section 7 paragraph (1) sentences 2 to 4 and paragraph (3) of the Framework Agreement apply, provided that references to Contracts, the Rules and Regulations and collateral are to be replaced with references to Client Clearing Transactions, the Client Clearing Agreement and collateral pursuant to the Client Clearing Agreement.
Party A and Party B agree that their execution of this Agreement shall constitute their entry into, on the date hereof, a Client Clearing Agreement which incorporates the terms of the Client Clearing Standard Terms as modified, amended or supplemented by Schedule 2 hereto.
Party A and Party B agree that their execution of this Agreement shall constitute their entry into, on the date hereof, a Client Clearing Agreement relating to the clearing of certain transactions with LCH.Clearnet on the terms of the Client Clearing Standard Terms, as modified, amended or supplemented by the Schedule hereto.
The Client Clearing Agreement and these Client Clearing Standard Terms will be subject to the jurisdiction provisions, the service of process provisions (if any) and the partial invalidity provisions, in each case as specified in the relevant Non-Clearing DRV (for partial invalidity: Clause 11(1) of the relevant Non-Clearing DRV), as if such provisions were set out in full in the Client Clearing Agreement.
The Direct Delivery Obligation shall also cover any Eligible Margin Assets in the form of Securities which have been transferred to Eurex Clearing AG by the Disclosed Direct Client in excess of the Disclosed Direct Client's margin requirement under the Client Clearing Agreement.
Each of the parties acknowledges that in entering into the relevant Client Clearing Agreement it has not relied on any oral or written representation, warranty or other assurance (except as provided for or referred to in the relevant Client Clearing Agreement) and waives all rights and remedies which might otherwise be available to it in respect thereof, except that nothing in the relevant Client Clearing Agreement will limit or exclude any liability of a party for fraud.
Subject to the other provisions of this Annex, the items specified in the relevant Client Clearing Agreement will qualify as “Eligible Credit Support” for the party specified therein.
All language preceding Paragraph 1 of this Annex is hereby deleted in its entirety and replaced with the following: “Credit Support Annex to the Schedule to the Clearing ISDA Master Agreement created pursuant to the Client Clearing Agreement between Party A and Party B.