disaffirm definition
disaffirm means to communicate, in accordance with procedures established by DTC, a rejection of one or more previously affirmed trades and an intent not to clear and settle such trades for a reason permitted by Section 3(e) of this Agreement. A notice of disaffirmance given by Prime Broker shall be deemed given at the time such notice is available for retrieval on Executing Broker's PTS terminal designated for that purpose, unless telephonic notice given in accordance with DTC procedures is actually received earlier by Executing Broker, in which event notice shall be deemed given upon such actual receipt. Prime Broker shall also use its best efforts to telecopy notices of disaffirmance to all affected executing brokers specifying the Customer's name and all trades to which the disaffirmance relates; provided, however, that failure to send such telecopy notice shall not invalidate the notices of disaffirmance given on PTS or by telephone.
disaffirm means to communicate a rejection of one or more previously Affirmed trades with an intent not to clear and settle any such trades if Jefferies determines not to do so in good faith and in accordance with reasonable commercial standards as described more fully in the Executing Broker Agreement.