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.
Interest: Cash in Trustee Held Funds earns interest, adjusted as markets dictate.
ITC does not receive compensation on invested funds other than Trustee Held Funds (defined herein).
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 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 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 provided by the Clearing House to Clearing Members in the ordinary course of business for their obligations to one another) and (vii) reimbursement obligations with respect to letters of credit; provided, however, that Indebtedness shall not include (a) obligations of the Company to a Cross-Margining Clearing