Covered SBS Entity definition

Covered SBS Entity means a party that (i) has been designated as a Covered SBS Entity for purposes of SBS Supplement II or (ii) is or becomes registered (on an ongoing basis or conditionally) as a “security-based swap dealer” or “major security-based swap participant” with the SEC and has notified the other party of such registration in accordance with the Notice Procedures.

Covered SBS Entity means a party that (i) elects in SBS Questionnaire I to be a “Covered SBS Entity” for purposes of SBS Supplement I and/or (ii) elects in SBS Questionnaire II to be a “Covered SBS Entity” for purposes of SBS Supplement II.

Examples of Covered SBS Entity in a sentence

• Under SBS Supplement II, a matched party that is not initially a Covered SBS Entity may subsequently change its status to Covered SBS Entity by providing written notice to its counterparty that it has become registered with the SEC as a security-based swap dealer or major security-based swap participant.

• Each party agrees to consult with the other in an attempt to resolve any such Discrepancy immediately (if both parties are Covered SBS Entities) or in a timely fashion (if one party is not a Covered SBS Entity).

• Continue to be part of the healing of the child or youth, as appropriate.

• If (i) one of the parties is not a Covered SBS Entity and (ii) either party notifies the other party of a Discrepancy in Portfolio Data in respect of either the Material Terms of an SBS or its Valuation, then each party agrees to consult with the other in an attempt to resolve the Discrepancy in a timely fashion.

• A Required Reconciliation Date Notice will specify (i) the frequency with which such portfolio reconciliations are believed by the Covered SBS Entity to be required, which may be “Daily,” “Weekly,” “Quarterly,” “Annually” or another frequency required by the SBS Supplement II Rules and (ii) if Section SBS II Schedule 4Part II is applicable, one or more Data Delivery Dates.

• However, parties who do not in good faith believe they will register as a security-based swap dealer or major security-based swap participant should not be designated as a Covered SBS Entity for purposes of SBS Supplement II terms incorporated in SBS II Covered Agreements.

• On each Data Delivery Date, Covered SBS Entity (or its agent) will provide Portfolio Data to CP (or its agent) for verification by CP.

• If PCA Principal is being designated as a Covered SBS Entity or has been identified as a Financial Counterparty in this Questionnaire, it is automatically deemed to elect SBS II Schedule 3 (SBS Risk Valuation Agreement) pursuant to the Protocol Agreement.

• Each party executing this Questionnaire must indicate whether the relevant PCA Principal will be a Covered SBS Entity for purposes of SBS Supplement II terms incorporated in SBS II Covered Agreements.

• Bayesian Inference via MCMC‌When dealing with complex models, marginalizing out all latent variables may prove inefficient or impractical.