Examples of TARGET 2 in a sentence
Business Day Centre(s): The applicable Business Day Centre for the purposes of the definition of "Business Day" in Condition 1 is TARGET 2.
In these Terms and for the purposes of the Conditions, references to “Business Days” shall (except where specified otherwise) be construed as references to days, which are TARGET Settlement Days, where “TARGET Settlement Day” means any day on which TARGET 2 (the Trans-European Automated Real-Time Gross settlement Express Transfer system) is open.
A Business Day means a day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer 2 System (the TARGET 2 System) or any successor thereto is open for the settlement of payments in euro, provided that such day is also a day on which banks are open for business in Amsterdam, the Netherlands and London, the United Kingdom.
TARGET 2 Settlement Day means any day on which the TARGET 2 System is operating.
For the purpose of this Condition 7, Bank means a bank in the principal financial centre of the relevant currency or, in the case of euro, in a city in which banks have access to the TARGET 2 System.