Held Funds definition
Held Funds has the meaning specified in Section 3.1(b)(iii).
Held Funds means in respect of a GTRS Payment Instruction, a hold up to the relevant transaction amount applied by HKICL to the Sending Member’s Designated Settlement Account pursuant to Rule 6.3.9.2.
Held Funds means in respect of a GTRS Payment Instruction, a hold up to the relevant transaction amount applied by HKICL to the Sender’s CHATS Ledger Account pursuant to Rule 6.3.13.2.
Examples of Held Funds in a sentence
Held Funds shall bear interest at the Applicable Reference Rate which would have been applicable to such amounts if such amounts had been made available to the Company pursuant to the applicable requested Advance plus 1.50% per annum.
If on any given day the interest that ITC calculates on a trust’s Trustee Held Funds portion is less than $.099, that trust will not accrue any interest on that day.
ITC does not receive compensation on invested funds other than Trustee Held Funds (defined herein).
Interest: Cash in Trustee Held Funds earns interest, adjusted as markets dictate.
More Definitions of Held Funds
Held Funds means in respect of a GTRS Payment Instruction or a BOJ DvP Payment Instruction, a hold up to the relevant transaction amount applied by HKICL to the Sending Member’s CHATS Ledger Account pursuant to Rule 6.3.14.2 or 6.3.16.2 respectively.
Held Funds means in respect of a GTRS Payment Instruction, a hold up to the relevant transaction amount applied by HKICL to the Sending Member’s CHATS Ledger Account pursuant to Rule 6.3.14.2.
Held Funds has the meaning specified in Section 3.1(b)(iii). “HIBOR Rate” means, in relation to any Loan in Hong Kong Dollars, a rate per annum equal to the Hong Kong Interbank Offered Rate, as published on the applicable Reuters screen page (or if not available, such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) on the Rate Determination Date with a term equivalent to one month and, if any such applicable rate is below zero, the HIBOR Rate for such day will be deemed to be zero. “HIBOR Rate Loan” means a Loan that bears interest at a rate based on the HIBOR Rate. All HIBOR Rate Loans shall be denominated in Hong Kong Dollars. “Holdings” has the meaning set forth in the preamble hereto. “Hong Kong Dollars” means the lawful currency of Hong Kong. “Impacted Tranche” has the meaning specified in Section 2.12. “Increased Cost Notice” has the meaning set forth in Section 11.9(a). “Indebtedness” of a Person means, without duplication, such Person’s (i) obligations for borrowed money (other than a Daylight Overdraft), (ii) obligations representing the deferred purchase price of property other than accounts payable arising in the ordinary course of such Person’s business on terms customary in the trade, (iii) obligations, whether or not assumed, secured by Liens or payable out of the proceeds or production from property (other than futures and options contracts held in a cross-margin account at the Company) now or hereafter owned or acquired by such Person, (iv) obligations which are evidenced by notes, acceptances, or other instruments, (v) Capitalized Lease Obligations, (vi) obligations for which such Person is obligated pursuant to a Guaranty of Indebtedness (other than the guarantee
Held Funds. If an Advance Request is made in respect of Applicable Tranche Covering Swingline Loans, (i) the portion thereof made available by any Applicable Tranche Swingline Bank to the Administrative Agent and not required to cover for Applicable Tranche Revolving Loans shall be promptly returned to such Applicable Tranche Swingline Banks on a pro rata basis in accordance with the respective amounts made available by such Applicable Tranche Swingline Banks and (ii) the proceeds of Applicable Tranche Revolving Loans subsequently made available to the Administrative Agent shall be distributed to such Applicable Tranche Swingline Banks as a prepayment of the principal of such Applicable Tranche Covering Swingline Loans, with such distribution to be made to such Applicable Tranche Swingline Banks on such a pro rata basis. Each Applicable Tranche Swingline Bank that makes any Applicable Tranche Covering Swingline Loan which is not made available to the Company and is promptly returned as contemplated above shall be entitled to compensation for such Applicable Tranche Covering Swingline Loan from the Company as determined by such Applicable Tranche Swingline Bank in accordance with its customary practices (provided that any such compensation shall not exceed the interest payable in respect of any Advance under the Applicable Tranche until the next Business Day pursuant to Section 3.3); and any Applicable Tranche Covering Swingline Loan which is made available to the Company shall earn interest, payable by the Company, in accordance with Section 3.3. Section