Direct Participant definition

Direct Participant or "DTC Participant": Any broker-dealer, bank or other financial institution for which the Depository holds Class A Certificates from time to time as a securities depository.

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Direct Participant. Any broker-dealer, bank or other financial institution for which the Depository holds Class A Certificates from time to time as a securities depositary.

Direct Participant. Any broker-dealer, bank or other financial institution for which the Clearing Agency holds Notes from time to time as a securities depositary.

Examples of Direct Participant in a sentence

• Any financial institution for which any Direct Participant holds an interest in a Book-Entry Certificate.

• Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly (“Indirect Participants”).

• Beneficial Owners that are not Direct Participants may transfer Units by instructing the Direct Participant or Indirect Participant holding the Units for such Beneficial Owner in accordance with standard securities industry practice.

• Beneficial Owners are expected to receive from or through the Direct Participant maintaining the account through which the Beneficial Owner has purchased or sold Units a written confirmation relating to their purchase or sale of Units.

• Accordingly, to exercise any rights of a holder of Units under this Trust Agreement, a Beneficial Owner must rely on the procedures of the Depository and, if such Beneficial Owner is not a Direct Participant, on the procedures of each Direct Participant or Indirect Participant through which such Beneficial Owner holds its interests.

More Definitions of Direct Participant

Direct Participant means a participant in the book-entry system of recording ownership interests in the Multi-Modal Bonds.

Direct Participant. Any broker-dealer, bank or other financial institution for which the Depository holds Offered Certificates from time to time as a securities depository.

Direct Participant means any broker-dealer, bank or other financial institution for whom the nominee of the Depository holds an interest in any Note.

Direct Participant means a Participant as defined in the Letter of Representations.

Direct Participant means a bank or other institution that maintains an account in its name in a clearing corporation and through which an insurance company participates in a clearing corporation.

Direct Participant means each person who is shown in the records of a Clearing System as a Noteholder;

Direct Participant means any broker-dealer, bank or other financial institution for whom the nominee of DTC holds an interest in any Note.