Settling Bank means the entity appointed by the Trust or you, as applicable, to perform such settlement services on behalf of the Trust and you, as applicable, which entity agrees to abide by NSCC's then current rules and procedures insofar as they relate to same day funds settlement. In all cases, processing and settlement of share transactions shall be done in a manner consistent with applicable law.
Settling Bank means the entity appointed by the party to perform such settlement services which entity agrees to abide by NSCC’s then current rules and procedures insofar as they related to funds settlement.
Settling Bank means the entity appointed by AVIF (IVIF) to perform such settlement services on behalf of AVIF (IVIF), which agrees to abide by NSCC’s then current rules and procedures insofar as they relate to same day funds settlement. In all cases, processing and settlement of Share transactions shall be done in a manner consistent with applicable law.
Examples of Settling Bank in a sentence
Payment shall be in federal funds transmitted by wire from the Fund's designated Settling Bank to the NSCC.
These are negotiated directly between the Fund and the Settling Bank.
In addition, each Member, Fund Member, Insurance Carrier/Retirement Services Member, Municipal Comparison Only Member, Mutual Fund/Insurance Services Member, Data Services Only Member, Settling Bank Only Member, Third Party Administrator Member, Third Party Provider Member, Investment Manager/Agent Member and AIP Member shall comply with the ongoing informational and operational requirements set forth below.
As a result, the Mandatory Purchaser Participants consist of:(1) a “Participant” other than a “Limited Participant” of DTC (as defined in the DTC Rules); (2) a “Member” of NSCC (as defined in the NSCC Rules); (3) a “Member” other than a “Comparison-Only Member” or “Sponsored Member” of the GS Division (as defined in the GS Division Rules) or (4) a “Member” other than a “Cash Settling Bank Member” of the MBS Division (as defined in the MBS Division Rules).
Nothing in the proposed Wind-down Rule would seek to prevent a Member, Limited Member or Settling Bank that retired its membership at either of the Divisions from applying for membership with the Transferee.
More Definitions of Settling Bank
Settling Bank means the entity appointed by the Fund to perform such settlement services on behalf of the Fund and agrees to abide by the NSCC's Rules and Procedures insofar as they relate to the same day funds settlement. If the Company is somehow prohibited from submitting purchase and settlement instructions to the Fund for Portfolio shares via the NSCC's DCC&S platform the following shall apply to this Section:
Settling Bank means the entity appointed by the Trust to perform such settlement services on behalf of the Trust, which agrees to abide by NSCC’s then current rules and procedures insofar as they relate to same day funds settlement. In all cases, processing and settlement of Share Transactions shall be done in a manner consistent with applicable law. The parties agree that if the Trust sends paper information for any Share Transaction for which it also sends information electronically, the Company is not required to consider any such paper information. The Trust further agrees to indemnify and hold the parties harmless in the event information sent electronically differs from the paper information. In the event that the Company or Trust is prohibited from communicating, processing or settling Share Transactions via Fund/SERV or Networking, such Company or Trust shall promptly notify the Company or Trust. After the Company or Trust have been notified, the provisions of this Agreement concerning non-electronic processing of transactions for Shares shall apply.
Settling Bank means the entity appointed by the Fund to perform such settlement services on behalf of the Fund and agrees to abide by the NSCC's Rules and Procedures insofar as they relate to the same day funds settlement. If the Company is somehow prohibited from submitting purchase and settlement instructions to the Fund for Portfolio shares via the NSCC's DCC&S platform the following shall apply to this Section: The Fund and the Underwriter agree to sell the Company those shares of the Portfolios which the Company orders on behalf of any Separate Account, executing such orders on a daily basis at the net asset value next computed after receipt and acceptance by the Fund or its designee of such order. For purposes of this Section, the Company shall be the designee of the Fund for the receipt of such orders from the Separate Account and receipt by such designee shall constitute receipt by the Fund; provided that the Fund or the Underwriter receives notice of such order by 8:30 a.m. Eastern Time on the next following Business Day. The Company shall pay for Portfolio shares by the scheduled close of federal funds transmissions on the some Business Day it places an order to purchase Portfolio shares in accordance with this section. Payment shall be in federal funds transmitted by wire to the Fund's designated custodian, "BUSINESS DAY" shall mean any day on which the New York Stock Exchange is open for trading and on which the Fund calculates it net asset value pursuant to the rules of the SEC.
Settling Bank means the entity appointed by the Trust or you, as applicable, to perform such settlement services on behalf of the Trust and you, as applicable, which entity agrees to abide by NSCC's then current rules and procedures insofar as they relate to same day funds settlement. In all cases, processing and settlement of share transactions shall be done in a manner consistent with applicable law. Except as modified hereby, all other terms and conditions of the Agreement shall remain in full force and effect. Unless otherwise indicated, the terms defined in the Agreement shall have the same meaning in this Amendment. AMENDMENT For good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree to amend the Agreement as follows:
Settling Bank means the entity appointed by AVIF or LIFE COMPANY, as applicable, to perform such settlement services on behalf of AVIF and LIFE COMPANY, as applicable, which agrees to abide by NSCC's then current rules and procedures insofar as they relate to same day funds settlement. In all cases, processing and settlement of Share transactions shall be done in a manner consistent with applicable law. In the event that any Party is prohibited from communicating, processing or settling Share transactions via Fund/SERV or Networking, such Party shall notify the other Parties. After all Parties have been notified, the provisions of paragraphs (b) and (c) of this Section 2.1 shall apply.
Settling Bank means the entity appointed by AVIF to perform such settlement services on behalf of AVIF, which agrees to abide by NSCC’s then current rules and procedures insofar as they relate to same day funds settlement. In all cases, processing and settlement of Share transactions shall be done in a manner consistent with applicable law. In the event that any Party is prohibited from communicating, processing or settling Share transactions via Fund/SERV or Networking, such Party shall notify the other Parties. After all Parties have been notified, the provisions of paragraphs (b) and (c) of this Section 2.1 shall apply. All other terms and provisions of the Agreement not amended herein shall remain in full force and effect. Effective as of Sept 10, 2002 AIM VARIABLE INSURANCE FUNDS Attest: /s/ Xxx X. Xxxxxxxx By: /s/ Illegible Assistant Secretary Senior Vice President (SEAL) AIM DISTRIBUTORS, INC. Attest: /s/ Xxx X. Xxxxxxxx By: /s/ Illegible Assistant Secretary President (SEAL) ML LIFE lNSURANCE COMPANY OF NEW YORK Attest: /s/ Illegible By: /s/ Illegible Assistant Secretary President (SEAL)