Defined Interval means a twenty-four (24) hour period starting at 6:00 A.M. ET (or such other time as may be notified by Lender to Borrower from time to time) on any day that Lxxxxx has extended Trade Credit to Borrower. For the avoidance of doubt, in the event that Lxxxxx extends Trade Credit to Borrower prior to 6:00 A.M. ET on any given day, such notional amount of Trade Credit shall be included in the aggregation of the Authorized Amount for the immediately prior day. Lender or Agent may revise the Defined Interval time period referenced above upon 5 business days prior notice to Borrower. Each separate extension of Trade Credits is due and payable by the Settlement Deadline (as defined below) for that Trade Credit, as dictated in Section 5. Bxxxxxxx and Lxxxxx agree that Bxxxxxxx may use the Trade Credits extended hereunder exclusively for the purpose of the execution of trades on the Trading Platform. Bxxxxxxx agrees that it is required to maintain the Trading Balance to be equal to or greater than the USD notional value of all outstanding Trade Credits at the time of execution of trades on the Trading Platform, by asset, until such Trade Credits have been repaid. For the avoidance of doubt, Bxxxxxxx acknowledges that this PTFA is not intended to be utilized for short selling of Digital Assets.
Defined Interval means a twenty-four (24) hour period starting at 6:00 A.M. EST on any day an Order is placed to the extent there is a related Trade Credit. For the avoidance of doubt, if Xxxxxx extends any Trade Credits to Borrower prior to 6:00 A.M. EST on any given day, the USD notional value of such Trade Credits shall be included in the calculation of the Available Balance for the immediately prior day.
Examples of Defined Interval in a sentence
Borrower is permitted to repay the Trade Credits at any time during the Defined Interval.