MSI plc definition
Examples of MSI plc in a sentence
The Client agrees that in such circumstances unless, after consultation with MSI plc, the Client or the Client’s investment manager expressly instructs MSI plc only to make delivery against payment, MSI plc may make and accept payments on the settlement of securities in accordance with such market practices.
Where the Client provides the necessary funds in time to do so, MSI plc shall use reasonable endeavours to satisfy the call.
The Client must deliver, or procure the delivery of, Equivalent Securities or make any relevant payment to MSI plc in accordance with this paragraph (or as MSI plc may instruct).
Where, prior to delivery of any Equivalent Securities to MSI plc any rights relating to a Corporate Action, including those requiring election, arise in respect of any Settlement Securities the subject of a Settlement Facility, then the Client will deliver to MSI plc Equivalent Securities in such form as MSI plc has notified to the Client in relation to the exercise of any such right.
MSI plc shall be deemed to have agreed to settle a Transaction only upon actual settlement by it of the Transaction.
Where any Income is paid on any Settlement Securities which are the subject of a Settlement Facility, the Client will pay to MSI plc, on the payment date of any such Income, an amount of money equal to the same, together with an amount equal to any deduction, withholding or payment for or on account of any tax together with an amount equal to any tax credit associated with any such Income, unless MSI plc has agreed that an appropriate tax voucher may be provided in lieu of any such amount.
MSI plc shall not be obliged to settle a Transaction if the Client or the Client’s investment manager instructs that it be settled on a delivery versus payment basis and MSI plc considers that such method of settlement is not practicable.
Where the Settlement relates to Hong Kong Settlement Securities MSI plc may deliver the securities directly to the Client (or to its order) in accordance with the OSLA and such delivery shall constitute performance by MSI plc of a Settlement.
Where MSI plc holds the Client's Investments in custody in the Prime Brokerage Account it shall hold such investments as trustee.
In addition, MSI plc may without prejudice to its other rights exercise a “buy-in” against the Client.