Securities Processing Liabilities definition

Securities Processing Liabilities means the aggregate amounts (a) incurred by the Purchaser or its Affiliates in the period between the Closing and the one year anniversary thereof to be paid to third parties in accordance with the Securities Processing Loss Policy to the extent due to errors made by the Business in connection with the processing of Custodial Assets during such period, and (b) which are documented by the provision of the written decision made by the appropriate authority in accordance with the Securities Processing Loss Policy.
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Examples of Securities Processing Liabilities in a sentence

  • Promptly after the first anniversary of the Closing, the Purchaser shall pay to Deutsche Bank an amount equal to (a) €15 million, less (b) the Securities Processing Liabilities.

  • The Purchaser shall pay to Deutsche Bank promptly thereafter the sum of (x) Securities Processing Liabilities less (y) Verified Securities Processing Liabilities.

  • The Purchaser shall deliver to Deutsche Bank, within fifteen (15) months following the Closing Date, documentary evidence in form and substance reasonably satisfactory to Deutsche Bank of the actual payment by the Purchaser to third parties of all Securities Processing Liabilities (the aggregate amount of such Securities Processing Liabilities so evidenced being, “Verified Securities Processing Liabilities”).