Clearing Arrangements Clause Samples
The Clearing Arrangements clause defines the procedures and responsibilities for processing and settling transactions through a clearing system. It typically outlines which party is responsible for submitting trades for clearing, how margin requirements are handled, and the timing of settlement obligations. This clause ensures that both parties understand the operational steps and risk management measures involved in clearing, thereby reducing settlement risk and promoting transparency in the transaction process.
Clearing Arrangements. Participant represents and warrants that it has executed a clearing agreement with
Clearing Arrangements. Each of the Agreeing Parties shall use commercially reasonable efforts to obtain prior to the Closing the approval of their respective clearing firms so that the transactions contemplated by this Agreement do not trigger acceleration of indebtedness thereunder or shall otherwise seek to modify their existing clearing arrangements to consolidate same or such other arrangements reasonably acceptable to Parent and the Company (collectively “Clearing Arrangements Approvals”).
Clearing Arrangements. An agreement with a clearing firm, in form and substance satisfactory to Buyer, shall have been executed by the Buyer and such firm.
Clearing Arrangements. APA and the Shareholders shall have taken all steps necessary or advisable for the transfer of all APA customer accounts to MSC including, without limitation, any required actions with respect to MSC's and APA's respective clearing agents, and MSC shall have received a letter or other certificate signed by APA's clearing agent to such effect.
Clearing Arrangements. CIG is presently a party to a clearing agreement with U.S. Clearing Corp., a copy of which is attached hereto. Buyer shall at Closing replace the CIG deposit if it continues the clearing agreement with U.S.
Clearing Arrangements. The Client will inform the Trading Member of the details of its appointed Clearing Member and will provide a letter of acceptance from the Clearing Member. The Client shall ensure that it is dealing with the Trading Member at all times in line with the trading limits permitted to it by its Clearing Member and will expressly ensure that it does not initiate a position with the Trading Member for which sufficient margin is not placed with its Clearing Member. The Client shall also ensure that any Transactions initiated by it through the Trading Member are reported by the Client to its Clearing Member as soon as possible and in all circumstances before 4 PM on the day on which that Transaction was initiated, so as to ensure acceptance of Transactions for clearing by the Clearing Member. The Client shall notify the Trading Member of the Client’s fund flows in advance so as to enable the Trading Member to follow up with the Client’s Clearing Member for clearing of Transactions. These procedures will be reviewed periodically by the Trading Member and appropriately modified, if necessary. Signed for and on behalf of <Client Name> Authorised Signatory 1 (with company seal) Authorised Signatory 2 (with company seal) Name: Name: Title: Title: [Date] Citibank, N.A. ▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ -400 051 Dear Sir, We, M/S (“Customer” or “we”) refer to the services extended by Citibank, N.A. (“Bank” or “you”) to us as a Trading Member pursuant to SEBI Rights and Obligations document and an Agreement both dated . We further refer to the discussions the Bank had with us on the above mentioned and pursuant to the same in order to facilitate the smooth processing of margins, realized profits and losses and any other related charges in the currency derivatives segment and/or for the services extended by the Bank, we would like to issue the following standing instructions. For the recovery or reimbursement of fees or charges in relation to the services rendered by you we hereby authorize you to debit our account # held with your Branch. The standing instructions/authorizations provided hereinabove may be revoked by us at any point of time. Provided however, such revocation will be effective only upon receipt by you of a revocation letter from us to that effect. ----------------------------------- Signature: Date: We would like to maintain a running account with Citibank N.A. for the funds payable to us by Citibank N.A. Citibank N.A. shall set...
Clearing Arrangements. Participant represents and warrants that it has executed a clearing agreement with the Clearing Broker identified in the General Information Section of its TRF Application. Participant represents and warrants that, based on Participant’s actual knowledge; Clearing Broker is a member in good standing with FINRA and the National Securities Clearing Corporation (“NSCC”) and shall be a member in good standing with FINRA and NSCC at the time any over-the-counter transaction in an exchange-listed security is reported to the TRF.