TRCM Cash Payment definition

TRCM Cash Payment means the total of all cumulative RCM Cash Payments for each business day from but excluding the relevant Last Call Prior to Default up to and including the business day upon which LCH Uncovered Losses are being determined.
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TRCM Cash Payment means the total of all cumulative RCM Cash Payments for each business day from but excluding the relevant Last Call Prior to Default up to and including the business day upon which LCH Uncovered Losses are being determined. (b) Loss Distribution Charges On each Loss Distribution Day, each Non-Defaulting RCM shall be required to pay to the Clearing House a "Loss Distribution Charge" which is equal to the product of (x) the LCH Uncovered Loss in respect of that Loss Distribution Day and (y) the proportion which that Non-Defaulting RCM's RepoClear Contribution bears to the aggregate of the RepoClear Contributions of allNon-Defaulting RCMs, provided that, the aggregate of all such Loss Distribution Charges shall not be greater than the Loss Distribution Cap Amount in respect of that Non-Defaulting RCM. Any Loss Distribution Charge shall be paid by the RCM to the Clearing House in accordance with the Procedures. (c) Application of Loss Distribution Charges to Cash Payment The Clearing House shall apply all payments it receives in respect of Loss Distribution Charges to Cash Payments solely for the purposes of meeting any loss incurred by the Clearing House following, and in relation to, each Default, as contemplated in accordance with Rule 16(a) to (g). (d) No Rebate The payment to the Clearing House by any RCM of any Loss Distribution Charge shall be final and shall not give rise to any obligation of the Clearing House to repay any such amount or to pay any interest thereon. (e) Application of any Recoveries If the RepoClear Loss Distribution Process has been invoked by the Clearing House in accordance with this Rule R.9, the Clearing House shall reimburse the RCMs (irrespective of whether they remain RCMs at the time of the recovery) and the Clearing House on a pro rata basis by reference to the resources which have been applied pursuant to Rule 16(a) to (g) (including any RepoClear Unfunded Contributions) and including the net amount of any one or more paid by the relevant RCMs:
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Related to TRCM Cash Payment

  • Minimum Cash Amount shall have the meaning set forth in Section 6.2(iv).

  • Designated Non-Cash Consideration means the fair market value of non-cash consideration received by the Borrower or any Restricted Subsidiary in connection with an Asset Sale that is designated as Designated Non-Cash Consideration pursuant to a certificate of a Responsible Officer of the Borrower setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of such Designated Non-Cash Consideration.