Settlement Entity definition

Settlement Entity means the entity through which the Participant settles transactions at the Settlement Institution or clears transactions at the Clearing Institution;
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Settlement Entity means a Market Support Services Licensee, the Market Company, or the Retail Electricity Licensee that is responsible for settlement of monies owed by or to the metered entity or consumer associated with a meter installation;
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Examples of Settlement Entity in a sentence

  • In order to secure claims of the respective Settlement Entity regarding a delayed submission of Emission Rights or Guarantees of Origin under due futures to the registry account of the respective Settlement Entity and/or regarding a failure to procure Emission Rights on the in- ternal inventory account of the Trading Participant obliged to effect delivery in time, ECC may calculate a Margin-Requirement (Delivery Margin).

  • In case a third party is involved in the sched- uling or nomination process of a control area or on a hub, respectively, due to statutory or regulatory requirements for a market area, neither ECC nor the respective Settlement Entity shall be liable for errors or disturbances of the scheduling or nomination caused by that third party.

  • In as far as the net accounts concern a payment, in the relationship to Trading Participants each of the net accounts is settled by ECC as the paying agent of the Settlement Entity so that the Trading Participants are obliged to make payments to ECC as the paying agent of the Settlement Entity or receive a payment from ECC as the paying agent of the Settlement Entity.

  • Every Clearing Member and the respective Settlement Entity authorise ECC (i) to summarise a payment to be provided by the Clearing Member to ECC as the paying agent of the Settle- ment Entity with a payment owed by the Clearing Member to ECC in the same currency and (ii) a payment to be provided by ECC as the paying agent of the Settlement Entity to the Clearing Member with a payment in the same currency owed by ECC to the Clearing Member.

  • ECC guarantees the Trading Participants the fulfilment of these Transac- tions by the respective Settlement Entity in accordance with the Contract.

  • ECC and the respective Settlement Entity shall not be liable in case scheduling or nom- ination is impossible due to that third party.

  • As a result of this, the Clearing Member is obliged towards the respective Settlement Entity to deliver or accept delivery the commodity on which the future is based and the respective Settlement En- tity, in turn, is obliged towards ECC to deliver and/or accept delivery of said commodity.

  • The respective Settlement Entity accedes to the contractual relationship as a new con- tractual partner by ECC assigning the claims to delivery and/or claims to acceptance of delivery and payment which it holds towards the Clearing Member to the respective Settlement Entity; at the same time, corresponding delivery obligations and/or ac- ceptance of delivery and payment obligations towards ECC arise on the part of the re- spective Settlement Entity.

  • The Settlement Entity assigns to ECC corresponding claims against the Trading Participant to pro- tect the risk that a Trading Participant does not fulfil its contractual obligations towards the Settlement Entity.

  • In as far as these Clearing Conditions do not expressly provide for a different regulation, ECC and the respective Settlement Entity shall not be liable towards third parties who are not par- ticipants in market themselves, with regard to losses which might be incurred, cases of dam- age, consequential damage or lost profits which have been incurred in connection with Trans- actions concluded on the market or registered there in any case.

Related to Settlement Entity

  • Settlement Cycle means the period of Clearance System Business Days following a transaction on the Relevant Exchange in the Underlying, during which period settlement will customarily take place according to the rules of such Relevant Exchange.

  • Settlement Payment means the transfer, or contractual undertaking (including by automated clearing house transaction) to effect a transfer, of cash or other property to effect a Settlement.

  • Settlement Unit means each hour in a day divided into hour-long periods starting at 00:00 on such day.

  • Settlement Agent means, with respect to any Transaction the subject of which is a Wet-Ink Mortgage Loan, the entity approved by Buyer, in its sole good-faith discretion, which may be a title company, escrow company or attorney in accordance with local law and practice in the jurisdiction where the related Wet-Ink Mortgage Loan is being originated. A Settlement Agent is deemed approved unless Buyer notifies Seller otherwise at any time electronically or in writing.

  • Settlement means the settlement set forth in this Agreement.

  • Settlement Fund means the Settlement Amount plus any and all interest earned thereon.

  • Settlement Class means, in respect of each Proceeding, the settlement class defined in Schedule A.

  • Settlement Shares With respect to any Settlement Date, a number of Shares, not to exceed the Base Amount, designated as such by Party B in the related Settlement Notice or by Party A pursuant to “Termination Settlement” below; provided that on the Maturity Date the number of Settlement Shares shall be equal to the Base Amount on such date.

  • Settlement Class Counsel means and refers to Xxxxxxxx, Xxxxxxxxxx, & XxXxxxx, P.C.

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

  • Settlement Date means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

  • Settlement Class Member means a member of a Settlement Class.

  • Resettlement Action Plan or “RAP”, means a plan approved by the Association, to be prepared in accordance with the provisions of the RPF, setting forth principles and procedures governing land acquisition or other associated Project impacts, resettlement and compensation of Affected Persons, as well as reporting and monitoring arrangements to ensure compliance with the said plan, as the same may be amended from time to time with the agreement of the Association, and “Resettlement Action Plans” or “RAPs” shall mean such Resettlement Action Plans, collectively.

  • Resettlement means the impact of an involuntary taking of land under the Project, which taking causes affected persons to have their: (i) standard of living adversely affected; or (ii) right, title or interest in any house, land (including premises, agricultural and grazing land) or any other fixed or movable asset acquired or possessed, temporarily or permanently; or (iii) access to productive assets adversely affected, temporarily or permanently; or (iv) business, occupation, work or place of residence or habitat adversely affected, temporarily or permanently.

  • Settlement Classes means all Persons included in the Electrolytic Settlement Classes and the Film Settlement Classes.

  • Resettlement Plan or “RP” means the resettlement plan for the Project, including any update thereto, prepared and submitted by the Borrower and cleared by ADB;

  • Purchaser Party shall have the meaning ascribed to such term in Section 4.8.

  • Individual Settlement Payment means the amount payable from the Net

  • Settlement Administrator means the administrator proposed by the Parties and appointed by the Court to administer the Settlement.

  • Settlement Time means any time within two Business Days immediately following the Creation Order Date or the Redemption Order Date, as applicable.

  • Settlement Report a report summarizing Revolver Loans and participations in LC Obligations outstanding as of a given settlement date, allocated to Lenders on a Pro Rata basis in accordance with their Revolver Commitments.

  • ASX Settlement Operating Rules means the rules of ASX Settlement Pty Ltd which apply while the Company is an issuer of CHESS approved securities;

  • Settlement Amount means, with respect to a party and any Early Termination Date, the sum of: --

  • State Contracting Agency means the department for which this contract is to be performed and for which the Commissioner or Authorized Designee acted in signing this contract.

  • Viatical settlement contract or “contract” means a written agreement entered into between a provider and a viator in which the provider will pay consideration that is less than the expected death benefit of the viator's policy in return for the viator's assignment, transfer, sale, devise, or bequest of the death benefit or ownership of the policy to the provider.

  • Settlement Price means the agreed upon price at which to purchase and sell a specified type and quantity of a commodity.