Examples of SEC Relief in a sentence
The industry ISDA SBSR Implementation Working Group (“WG”) has discussed and agreed the reporting party determination and tie-breaker logic, taking into consideration the SEC Relief, as described in the section “SBS Reporting Party (RCP) Determination – Industry Standard Approach”.
Note: US persons/non US person (with US person guarantee) that do not wish to rely on the SEC Relief in this scenario may consider reaching out to non-US SD to address reporting of the trade.
For Major Security-Based Swap Participant (MSBSPs), apply SEC Relief – use 45.8 and “ISDA Asset Class Tie Breaker Logic for Swaps” developed for CFTC reporting as applicable.
Takes into consideration SEC Relief provided in Section C, Cross-Border Application of Certain Security-Based Swap Requirements Final Rule and Guidance, 85 Fed.
The US Compliance WG could not reach consensus on use of a consistent definition of US Person (USP) on the 3/17/21 WG call:― Some supported using the SEC 240.3a71 definition when applying Rule SBSR in determining SEC RCP, but using the 2013 CFTC Cross Border guidance USP definition when applying the SEC Relief in determining SEC RCP.― Others supported using a consistent USP definition for both SBSR and CFTC.― Others supported allowing flexibility to decide individually.
Note: Certain transactions will have no RCP for example in the case of a Non-US SD faces non-US person (both not guaranteed), there is no duty to report under Rule SBSR for either party, no need to make use of SEC Relief.
The Buyer will consider in good faith all comments reasonably proposed by the Company and its counsel in connection with the request for SEC Relief.
As promptly as practicable after the date of this Agreement, the Buyer shall submit confidentially to the staff of the SEC a draft request for exemptive and/or no-action relief from requirements of the Exchange Act that are in conflict with the requirements of German or Dutch Applicable Rules with respect to the Offer and any other such relief as the Parties may decide to request in connection with the Transactions ("SEC Relief").
The Adviser will promptly furnish to the Sub-Adviser any and all amendments or other changes to the Prospectus or any form of SEC Relief, and the Sub-Adviser shall not be charged with complying with any such amendments not so delivered to the Sub-Adviser.
Receipt of SEC Relief for Multiple Take-Up Dates As discussed in the Offer and Circular, Teck was initially unable to make a "permitted bid" for purposes of the Rights Plan because Teck was not permitted to have more than one Take-Up Date under applicable U.S. federal securities laws as a result of prorating the Offered Consideration.