Self-Clearing definition
Examples of Self-Clearing in a sentence
Following the transfer of Citigroup Self-Clearing Assets to the Company on a Citigroup Self-Clearing Date, the Company Entities will have good and marketable title to, or have good title pursuant to a valid leasehold interest in or have a valid right to use or occupy, all of such Citigroup Self-Clearing Assets, free and clear of any Liens, except for Permitted Liens or as would not reasonably be expected to result in a Material Adverse Effect on the Citigroup Self-Clearing Business.
A portion of the foregoing transfers on each Citigroup Self-Clearing Date shall be in respect of the Membership Interests issued to the Initial Citigroup Members on the Closing Date (and no new Membership Interests will be issued) and a portion shall be in exchange for an additional issuance of Class A Preferred Interests, in each case as provided by Sections 3 and 4 of Schedule 3.7 to the LLC Agreement.
If the Citigroup Self-Clearing Tangible Book Value is more than $1.13 billion, the Company shall pay (without any contribution from Morgan Stanley or Citigroup) an amount equal to such excess, plus interest thereon at a rate equal to LIBOR plus 60 basis points during the period from the last Citigroup Self-Clearing Date to the date of such payment, to Citigroup in immediately available funds within three Business Days after the ultimate determination of the last-dated Final Self-Clearing Balance Sheet.
To the extent less than all the Morgan Stanley Self-Clearing Assets or related Customer Accounts are being transferred on a Self Clearing Date, only the Morgan Stanley Self-Clearing Liabilities related to such transferred Self-Clearing Assets or Customer Accounts will be assumed on such date.
To the extent that less than all of the Citigroup Self-Clearing Assets or related Customer Accounts are being transferred on a Self Clearing Date, only the Citigroup Self-Clearing Liabilities related to such transferred Self-Clearing Assets or Customer Accounts will be assumed on such date.
Following the transfer of Morgan Stanley Self-Clearing Assets to the Company on a Morgan Stanley Self-Clearing Date, the Company Entities will have good and marketable title to, or have good title pursuant to a valid leasehold interest in or have a valid right to use or occupy, all of such Morgan Stanley Self-Clearing Assets, free and clear of any Liens, except for Permitted Liens or as would not reasonably be expected to result in a Material Adverse Effect on the Morgan Stanley Self-Clearing Business.
National Securities Clearing Corporation (“NSCC”) Self-Clearing NSCC Account No.: Agreement with clearing agent NSCC Account No.: Name of broker dealer acting as clearing agent: The Options Clearing Corporation (“OCC”) Self-Clearing OCC Account No.: Requires clearing guarantee attached as Appendix A.
By: Print Name Title Authorized Signature Date To: NASDAQ OMX (“NASDAQ”) Membership Department From: (Individual Completing Form) (Participant Organization) Re: Options Market Participant Letter of Guarantee The Participant noted above is an approved member of The Options Clearing Corporation (“OCC”) and an approved Participant of: The Participant, as a Self-Clearing Member and in accordance with NASDAQ rules,1 accepts financial responsibility for all transactions entered into by the Participant on NASDAQ.
The Parties shall make reasonably available to each other and to their respective accountants all relevant books and records, any work papers (including accountants’ work papers) and other supporting documentation relating to the Preliminary Self-Clearing Balance Sheets.