Equivalent Margin definition

Equivalent Margin means any cash and/or securities of the same type, nominal value, currency and amount as Acceptable Margin Transferred hereunder and in relation to any Acceptable Margin (subject to variations in quality and weight as is permitted under the Exchange Rules) as the Acceptable Margin Transferred hereunder.

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Equivalent Margin means cash and/or securities of the same type, nominal value, currency and amount as Acceptable Margin Transferred hereunder.

Equivalent Margin means in relation to any Margin comprised in the Margin Balance, such cash that is of the same issuer, nominal value, description and amount as that Margin;

Examples of Equivalent Margin in a sentence

• If the other party agrees to the request, the exchange shall be effected, subject to paragraph 6(d), by the simultaneous transfer of the Equivalent Margin Securities and new Margin Securities concerned.

• On the date on which any Transaction is entered into pursuant hereto, and on each day on which Securities, Equivalent Securities, Margin Securities or Equivalent Margin Securities are to be transferred under any Transaction, Buyer and Seller shall each be deemed to repeat all the foregoing representations.

• Notwithstanding the use of the terms such as “Margin” which are used to reflect terminology used in the market for such transactions, nothing in these provisions is intended to create or does create in favour of either party mortgage, charge, lien, pledge, encumbrance or other security interest in any Acceptable Margin, Equivalent Margin, Equivalent Dividends on Interest Transferred hereunder.

• You may, with our prior written consent, Transfer new Acceptable Margin to us in substitution for the Transferred Margin having the same nominal value and of the same amount as determined by us, as such new Acceptable Margin, whereupon we will Transfer to you Equivalent Margin in respect of the Transferred Margin being substituted.

• Each party agrees that all right, title and interest in and to any Acceptable Margin, Equivalent Margin, Equivalent Dividends or Interest which it transfers to the other party shall vest in the recipient free and clear of any security interest, lien, charges, encumbrance or other restriction.

• Upon a demand made by you on or promptly following the Valuation Date, if the Value of the Transferred Margin exceeds the amount of the Margining Requirement, then we will Transfer to you such Equivalent Margin having a Value as of the date of Transfer as close as practicable to the applicable Margin Return Amount (rounded down to the nearest integral multiple).

• It is the intention of the parties that Party B will never have the right to have margin posted to it by Party A (although it will have the right, under proper circumstances to have Cash Margin repaid to it and Equivalent Margin Securities transferred to it) and the parties agree that the “Net Exposure” of Party B with respect to Party A be the lesser of (a) the “Net Exposure” determined in accordance with Section 4(c), and (b) Party B’s Net Margin posted to Party A.

• On the later of (a) the date of termination of this Agreement and (b) when we determine that no obligations are outstanding from you to us, we will also Transfer to you Equivalent Margin having a Value as of the date of Transfer equal to the Margin Return Amount calculated as if the Margining Requirement were then zero.

• Each party represents to the other party (which representation will be deemed repeated as of each date on which a Transfer of Acceptable Margin, Equivalent Margin, Equivalent Dividends or Interest is made) that it is the sole owner or otherwise has the right to Transfer all the aforementioned property, free and clear of any security interest, lien, encumbrance or other restriction.

• If the other Party agrees to the request, the exchange shall be effected, subject to paragraph 8(d), by the simultaneous transfer of the Equivalent Margin Securities and new Margin Securities concerned.

More Definitions of Equivalent Margin

Equivalent Margin means cash of the same type, nominal value, description and amount as Acceptable Margin transferred by the Client to the Firm or the Firm to the Client, as applicable, comprised in the Title Transfer Collateral (or, if any transferred margin has been redenominated, converted, redeemed or otherwise modified, cash collateral of the same type, nominal value, description and amount of the cash into which margin has been redenominated, converted, redeemed or otherwise modified);

Equivalent Margin. Securities”, Securities equivalent to Securities previously transferred as Margin Securities;

Equivalent Margin means cash and/or securities of the same type, nominal value, description and amount as Acceptable Margin transferred by the Client to the Firm or the Firm to the Client, as applicable, or otherwise comprised in the Title Transfer Collateral (or, if any transferred margin has been redenominated, converted, redeemed or otherwise modified, cash and/or securities collateral of the same type, nominal value, description and amount of the cash and/or securities into which margin has been redenominated, converted, redeemed or otherwise modified);