Fails Charge definition

Fails Charge means a payment imposed on the party that gives rise to a Fail event by failing to deliver. The Fails Charge was introduced for its conceivable power to reduce Fail frequency on the grounds of its compelling economic rationale, especially in a low- interest environment (For details refer to the relevant regulations including the “The Japanese Government Securi- ties Guidelines for Real Time Gross Settlement”).
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Examples of Fails Charge in a sentence

  • The claim of a Fails Charge as a remedy of the Non-Failing Party in the event of a Delivery Failure shall be without prejudice to any other rights or remedies of the Parties under the applicable agreement governing the transaction or under applicable law, and shall not constitute a waiver of the Non-Failing Party’s right to exercise any other remedy.

  • To the extent permitted by applicable law, in the event that the Failing Party fails to make a Fails Charge payment when due and payable, such Failing Party will be liable to the Non-Failing Party for interest on any Fails Charges still owed to the Non-Failing Party, from the date the Failing Party becomes liable for such Fails Charges until such Fails Charges are paid by the Failing Party.

  • Such interest shall be set at a reasonable rate agreed by the Parties (including any rate set forth by the terms of any existing agreement governing the transaction to which the Fails Charge relates) or otherwise consistent with market practice for interest payable on late payments in connection with the relevant type of transaction.

  • The Fails Charge Handling Practice will apply to all settlements made on or after 1st November 2010 (the “Effective Date”) unless explicitly agreed upon in connection with and specific transaction.

  • We have decided to adopt this Fails Charge Handling Practice for purposes of our transactions with all our counterparties, and accordingly, are notifying you that any delivery-versus-payment transactions in Japanese Government securities entered into between you and us will be subject to the following conditions, unless explicitly agreed otherwise with respect to a specific transaction.

  • Similarly the Company will be deemed to have agreed that the Fails Charge Handling Practice will apply to all settlements unless otherwise explicitly agreed upon in connection with any specific transaction.

  • In the event that either party fails to claim Fails Charges with respect to one or more transactions to which the Fails Charge Handling Practice applies, that party shall not be deemed to waive its right to claim Fails Charges in relation to other applicable transactions.

  • Failure by a Non-Failing Party to enforce a Fails Charge in any one transaction or in multiple transactions shall not constitute a waiver of any right of the Non-Failing Party under this Trading Practice with regard to any other transactions.

  • The Fails Charge will apply to Agency Debt and Agency MBS transactions that were entered into prior to, and remain unsettled at, the date as of which the market participants implement Fails Charges under this Trading Practice (the “Effective Date”), as well as to Agency Debt and Agency MBS transactions that were entered into on or after the Effective Date.

  • In addition, either party’s claim of a Fails Charge shall not preclude the party from exercising any other right available under the agreement for the transaction in question or any applicable law, and none of the Trade Counterparty, Company or any third party shall in any way be deemed to have waived such a right.

Related to Fails Charge

  • Access Charge has the meaning set out in Clause 6.1;

  • Monthly Charge shall have the meaning set forth in Article 5.

  • Room charge means the charge imposed for the use or occupancy of a room, excluding charges for food, beverages, state use tax, telephone service, or like services paid in connection with the charge, and excluding reimbursement of the assessment imposed by this act.

  • Service Charge means the amount charged for making a service available on line and is in addition to the actual fee for a service itself. For example, one who renews a license on line will pay the license renewal fee and a service charge.

  • Transition charge means a nonbypassable rate or charge to be imposed on a customer to pay

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • Delivery Charge means the total amount charged to the Authorized User for shipment of the Vehicle(s) from the Delivery Origin to the location(s) designated by the Authorized User on Form A: Mini-Bid Request, and on the Purchase Order.

  • Termination Charge means a charge levied when an unamortized balance remains and the Jurisdiction requests termination of Street Lighting Service. The charge is determined by costs of equipment, installation, removal, disposal, Capital Recovery Period, and Utility Financing Cost minus payments made to date for the specific fixtures.

  • Capacity Charge means a charge for public facilities in existence at the time a charge is imposed or charges for new public facilities to be acquired or constructed in the future that are of proportional benefit to the person or property being charged, including supply or capacity contracts for rights or entitlements, real property interests, and entitlements and other rights of the local agency involving capital expense relating to its use of existing or new public facilities. A “capacity charge” does not include a commodity charge.

  • User charge means a charge imposed on airlines for the provision of airport, air navigation, or aviation security facilities or services including related services and facilities.

  • Annual Service Charge for any period means the aggregate interest expense for such period in respect of, and the amortization during such period of any original issue discount of, Indebtedness of the Issuer and its Subsidiaries.

  • SLDC Charges means the charges levied by the SLDC of the state wherein the Solar Power Project is located;

  • Access Charges means the sum payable under the Access Agreement and/or this RAO agreed by the Operators to be paid by the Access Seeker to the Access Provider for providing the Access Service, the indicative Access Charges are as per Appendix C hereof which rate is exclusive of GST which shall be payable also by the Access Seeker.

  • Minimum Charge means the higher of the rate minimum and the rate applied to the Contracted Minimum Demand;

  • transaction charge means any amount charged to a client by a registered firm in respect of a purchase or sale of a security and includes any federal, provincial or territorial sales taxes paid on that amount;

  • Adviser Charge : means the fee agreed with your financial adviser in remuneration for the personal recommendation received prior to submission of an Application Form.

  • Connection Charge is the sum payable by the Communications Provider in accordance with the Openreach Price List for provisioning of the Service;

  • Management Charge means the sum paid by the Supplier to the Authority being an amount of half (0.5) percent of all Charges for the Services invoiced to the Contracting Bodies (net of VAT) in each Month throughout the Term and thereafter until the expiry or earlier termination of any Call-Off Contract;

  • Additional Charge means a charge in accordance with Canon’s Current Rate; Additional Services means any service in addition to the Services to be provided by Canon under clause 21; Business Day means a day that is not a Saturday, Sunday or public holiday in the place where the Products or Services are being supplied;

  • Early Termination Charge means, with respect to any 2016-B Lease that is terminated prior to its Maturity Date, an amount equal to the lesser of (a) the present value (discounted at the implicit rate of such 2016-B Lease) of all remaining Monthly Payments and (b) the excess, if any, of the adjusted 2016-B Lease balance over the related 2016-B Vehicle’s fair market wholesale value in accordance with accepted practices in the automobile industry (or by written agreement between the Servicer, on behalf of the Titling Trust, and the Lessee).

  • No Charge Bid When Bids are requested on a number of Products as a Group or Lot, a Bidder desiring to Bid “no charge” on a Product in the Group or Lot must clearly indicate such. Otherwise, such Bid may be considered incomplete and be rejected, in whole or in part, at the discretion of the Commissioner.

  • Account Charge means, in relation to each of the Charged Accounts, the first priority fixed charge or pledge over all such accounts given or to be given by the relevant account holder thereof in favor of and in form and substance satisfactory to the Security Trustee.

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • CCAA Charges means the Administration Charge and the Directors’ Charge;

  • Withdrawal Charge means a charge taken by AUL equal to a percentage of the Account Value withdrawn pursuant to "Withdrawal Benefits," where the percentage varies by the Participant Account Year in which the withdrawal is made. The first Participant Account Year begins on the date when AUL establishes a Participant Account and credits the initial Contribution for the Participant, and ends on the day immediately preceding the next anniversary of such date. Each Participant Account Year thereafter begins on such an anniversary date and ends on the day immediately preceding the next succeeding anniversary date. The Withdrawal Charge percentage is as follows: During Withdrawal Charge Participant Account Years Percentage However, for any Participant who also participates in the companion AUL Series III group annuity contract, the initial Withdrawal Charge percentage under the Contract shall be equal to the Withdrawal Charge percentage applicable to the Participant under the AUL Series I group annuity contract from which funds have been transferred to such Series III contract, determined by AUL immediately prior to the date of such transfer, rounded down to the next whole Withdrawal Charge percentage if the Withdrawal Charge percentage under such Series I contract is a fractional Withdrawal Charge percentage. However, the Withdrawal Charge percentage under this paragraph shall never be greater than 8%. The Withdrawal Charge percentage shall be decreased by 1% for each subsequent Participant Account Year until the Withdrawal Charge percentage equals 4%. (However, if the applicable Series I contract Withdrawal Charge percentage is less than 4%, it shall be rounded up to 4% in the Contract.) This 4% Withdrawal Charge percentage shall be in effect during the next 6 consecutive Participant Account Years. Thereafter, the Withdrawal Charge percentage shall be reduced to 0%. In no event will the cumulative total of all Withdrawal Charges, including those previously assessed against any amount withdrawn from a Participant Account, exceed 9% of total Contributions allocated to that Participant Account.

  • Hire Charge or “Hire Charges” means the rates and charges payable by You for the hire of the Equipment.