netting arrangement means an arrangement under which a number of claims or obligations can be converted into a single net claim, including close-out netting arrangements under which, on the occurrence of an enforcement event (however or wherever defined) the obligations of the parties are accelerated so as to become immediately due or are terminated, and in either case are converted into or replaced by a single net claim, including ‘close-out netting provisions’ as defined in point (n)(i) of Article 2(1) of Directive 2002/47/EC and ‘netting’ as defined in point (k) of Article 2 of Directive 98/26/EC;
netting arrangement means an arrangement under which a number of claims or obligations can be converted into a single net claim, including close-out netting arrangements under which, on the occurrence of an enforcement event (however or wherever defined) the obligations of the parties are accelerated so as to become immediately due or are terminated, and in either case are converted into or replaced by a single net claim, including 'close-out netting provisions' as defined in
netting arrangement means a multi-party netting arrangement between (i) any group including only WFS and/or any Domestic Subsidiaries, on the one hand, and a Counterparty, on the other hand, relating to the netting of the settlement of amounts owed under contracts for the purchase and sale of fuel and related products and/or Swap Contracts between any of the parties thereto or (ii) any group including only Foreign Subsidiaries, on the one hand, and a Counterparty, on the other hand, relating to the netting of the settlement of amounts owed under contracts for the purchase and sale of fuel and related products and/or Swap Contracts between any of the parties thereto.
Examples of netting arrangement in a sentence
Once a Netting Offer is accepted and forms a Netting Arrangement, it shall constitute the entire agreement between the parties and supersedes and extinguish all previous discussions, correspondence, negotiations, drafts, agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.
If any provision or part-provision of a Netting Offer (or a Netting Arrangement as the case may be) is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable.
More Definitions of netting arrangement
netting arrangement means an arrangement in writing to convert several claims or obligations into one net claim or one net obligation and includes bilateral netting, multilateral netting, netting by novation, close-out netting, payments netting or a combination of any of these;
netting arrangement means an arrangement in writing to convert several claims or obligations into one net claim or one net obligation;
netting arrangement means an arrangement under which 2 or more claims or obligations can be converted into a net claim or obligation, and includes a close-out netting arrangement (under which actual or theoretical debts are calculated during the course of a contract for the purpose of enabling them to be set off against each other or to be converted into a net debt);
netting arrangement means an arrangement under which 2 or more claims or obligations can be converted into a net claim or obligation, and includes a close‑out netting arrangement (under which actual or theoretical debts are
netting arrangement means a written arrangement to convert several claims or obligations into one net claim or one net obligation, including close-out netting arrangements in the context of financial collateral arrangements whereby on the insolvency, dissolution or winding-up of any party to the arrangement –
netting arrangement means an express agreement entered into between the Originator and an Obligor in the ordinary course of the Originator's business which provides that the Obligor will net payables owed to it by the Originator against the Receivables owed by it."
netting arrangement means an arrangement under which 2 or more claims or obligations can be converted into a net claim or obligation, and includes a close-out netting