Transfer Timing definition

Transfer Timing. The terms of Paragraph 4(b) are deleted and the following substituted therefor: “Subject to Paragraphs 4(a) and 5, and unless otherwise specified, in the case of (i) a Transfer obligation of the Pledgor under Paragraph 3(a) or (ii) or an entitlement of the Pledgor to direct the Collateral Manager to Transfer Posted Collateral from the Account under Section 3(b), if on any Local Business Day a Margin Call under Clause 2.4(b) Schedule 1 to the Control Agreement or an instruction to redeliver Collateral under Clause 2.4(c) of Schedule 1 to the Control Agreement results in a Delivery Amount or Return Amount being due, the relevant Transfer of Eligible Collateral or Posted Collateral to or from the Account will be made not later than the close of business (New York time) on such Local Business Day or (ii) if and to the extent that any of the events described in any of clauses (I), (II), (III) and (IV) of Paragraph 5 occur on such Business Day, then the relevant Transfer of Eligible Collateral or Posted Collateral to or from the Account will be made not later than the close of business (New York time) on the following Business Day”

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Examples of Transfer Timing in a sentence

• This Final Refinery and Terminal Inventory Price will be determined within 23 days of the Inventory Transfer Timing.

• From the date of the Original Transaction Agreement until the Closing, each of Logistics and LG shall cause the Company Group to use commercially reasonable efforts to reduce the amount of Purchased Inventory to 20,000 barrels at or prior to the Inventory Transfer Timing.

• The fifth paragraph in Section A of Attachment XII-A of the SPA is hereby amended and restated as follows: The Final Refinery and Terminal Inventory Sale Price will be determined based on Final Refinery and Terminal Inventory as of midnight between May 15 and May 16 or the midnight between the Closing date and the next day if the Closing of the Refinery and Terminal takes place on a day other than May 15th (hereinafter referred to as the "Inventory Transfer Timing").