Examples of Participant Party in a sentence
Each Participant shall be required to obtain the agreement of each Non- Participant Party to the provisions of the Rules applicable to or otherwise referring to Non-Participant Parties (including Rule 312 and this Rule 406) and hereby represents and warrants to ICE Clear Credit that it has obtained such agreement.
The scope of the indemnity provided by WEPCo is slightly wider than the Participants’ indemnities to WEPCo, as the Participants’ indemnities are limited to Direct Losses sustained by WEPCo as a consequence of any negligent act or omission by that Participant (or a Participant Party relating to that Participant) relating to the performance or non-performance of the Participant’s obligations under the SPA, or a breach of an express provision of the SPA by that Participant.
The Margin Requirement in respect of Initial Margin for a Participant’s Client- Related Positions shall be calculated on a gross basis across each Non- Participant Party Portfolio (i.e., on the basis that all Client-Related Positions related to different Non-Participant Party Portfolios have not been offset pursuant to Rule 304).
Notwithstanding anything to the contrary in paragraph 2.4(a), a Participant may elect, in furtherance of its rights under Rule 304(c) as a result of a default or termination event with respect to a Non- Participant Party for which it carries an Index Swaption, (i) to exercise such Index Swaption on behalf of the Non-Participant Party for the purpose of liquidating or closing out such position or (ii) to convert such Index Swaption into a House Position.
The following terms shall have the meanings indicated:The term “ Assignment Block” has the meaning specified in paragraph 2.2. The term “Desk ID” means the designation of a particular trading desk or other subaccount maintained by the Participant (or, if applicable, Non- Participant Party) with respect to its Index Swaptions and identified to ICE Clear Credit in a manner specified by ICE Clear Credit.
If Participant X and/or Participant Y is acting for a Non- Participant Party, such position of such Participant shall constitute a Client- Related Position.
One member of the Risk Management Subcommittee shall be a Non- Participant Party.
If a Participant is acting for a Non- Participant Party, upon the establishment of such a position with ICE Clear Credit, such position of such Participant shall constitute a Client-Related Position.
Any purported assignment or delegation by Participant Party, Subscriber Party, or Consultant in contravention of this paragraph is null and void, and shall immediately cause this Agreement to terminate.
Consultant shall defend, indemnify, and hold harmless HiCentral MLS, Participant Party, Subscriber Party, or customers of HiCentral MLS, Participant Party, or Subscriber Party, to whom Consultant provides a product or service using HiCentral MLS Data, against any and all losses, damages, and costs (including reasonable attorneys’ fees) arising from any third party claim of patent infringement.