Collateral Withdrawal Clause Samples

Collateral Withdrawal. In a Collateral withdrawal, the buyer instructs to return (the seller instructs to receive) securities due to excess of collateral following mark to market valuation. - One delivery free message should be sent by the buyer, one receipt by the seller. - The message will be identified as part of collateral adjustment using the settlement transaction indicator field with the appropriate collateral indication. The Repo sequence will allow for the identification of the repo contract being topped up In addition the Repurchase type field will indicate that the transaction is for a Withdrawal. - The message will be linked to the original instruction using the Repo reference and/or a linkage sequence with the message reference of the original instruction.
View SourceView Similar (5)
Collateral Withdrawal. In a Collateral withdrawal, the buyer instructs to return (the seller instructs to receive) securities due to excess of collateral following mark to market valuation. This scenario is dealing specifically with the collateral when the underlying repo is not impacted. It is distinguished by the use of the 22F::SETR//COLO or COLI field. For a Withdrawal scenario where the underlying repo is being rolled over, with the use of the 22F::SETR//REPU or RVPO field, see section 34. I. Message Structure and Requirements
View SourceView Similar (4)
Collateral Withdrawal. Without obtaining the prior written consent of the Agent, the Borrower or the Investment Adviser submits unilateral instructions to the applicable Custodian for a withdrawal of Collateral from the Collateral Accounts which individually or in the aggregate would result in a withdrawal of Collateral from the Collateral Accounts in contravention of Section 2(g); or
View Source
Collateral Withdrawal. In a Collateral withdrawal, the buyer instructs to return (the seller instructs to receive) securities due to excess of collateral following mark to market valuation. One delivery free message should be sent by the buyer, one receipt by the seller. The message will be identified as part of collateral adjustment using the settlement transaction indicator field with the appropriate collateral indication. The Repo sequence will allow for the identification of the repo contract being topped up In addition the Repurchase type field will indicate that the transaction is for a Withdrawal. The message will be linked to the original instruction using the Repo reference and/or a linkage sequence with the message reference of the original instruction. ISO 15022 illustration: *For Matching and Settlement Status Reporting Market Practice guidelines, please refer to the Status and Fail Reporting (MT548) Market Practice documentation. The section below will give the message type and defining elements of the repurchase/reverse repurchase agreement. Please note that these fields are just identifying the critical fields for the specified business process and do not show all SWIFT message elements. For the complete message please refer to the Appendix. The instruction will be identified as being the settlement of a repo operation by using Sequence E indicator field :22F::SETR//REPU. The instruction will be identified as being the settlement of a reverse repo operation by using Sequence E indicator field :22F::SETR//RVPO. Where there is a cancel to modify a repo contract for a repo closing scenario under the single message method, it is mandatory to provide a previous reference (PREV) in the linkages sequence of the cancellation that contains the reference number of the original transaction (SEME from the original or first transaction) that is being amended. In the event multiple closing scenarios occur, the PREV reference of the follow-up cancellation will contain the most recent replacement instruction SEME and not the original opening repo. Confirmation messages will only include the 20C::RELA of the last repo instruction received and not all previous instructions. For example: Confirmation of the closing leg instruction only references the closing leg instruction 20C::SEME and not also the opening leg 20C::SEME. The :36B::SIZE should reflect the total repo collateral to remain outstanding (if split, per instruction) The :36B:SETT should reflect the total repo collateral s...
View Source

Related to Collateral Withdrawal

  • Reserve Account Withdrawal If the Series 2003-5 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2003-5 Reserve Account, an amount equal to the lesser of (x) the Series 2003-5 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 2003-5 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 2003-5 Distribution Account on such Distribution Date.

  • Withdrawal from Agreement A. Any Fund may elect to withdraw from this Agreement effective at the end of any monthly period by giving at least 90 days’ prior written notice to each of the parties to this Agreement. Upon the written demand of all other Funds which are parties to this Agreement a Fund shall withdraw, and in the event of its failure to do so shall be deemed to have withdrawn, from this Agreement; such demand shall specify the date of withdrawal which shall be at the end of any monthly period at least 90 days from the time of service of such demand. B. In the event of the withdrawal of any Fund from this Agreement, all its rights and obligations, except for lease commitments, under this Agreement (except such rights or obligations as have accrued prior to the date of withdrawal) shall terminate as of the date of the withdrawal. The withdrawing Fund shall surrender its Shares to Service Company, and (1) shall be entitled to receive from Service Company an amount equal to the excess of the fair value of (i) its Shares of other securities Service Company as of the date of its withdrawal less (ii) its proportionate interest in any liabilities of Service Company, including when appropriate any commitments of Service Company and unexpired leases at the date of withdrawal; (2) shall be obligated to pay Service Company an amount equal to the excess of (ii) over (i). Such amount to be received from or paid to Service Company shall be determined by the favorable vote of the holders of a majority of the Shares whose determination shall be conclusive upon the Funds. Any amount found payable by the Service Company to the withdrawing Fund shall be recoverable by Service Company from the Funds remaining under this Agreement in accordance with the provisions of Section 1.2, 1.3 and 1.4 hereof.

  • No Withdrawal No Person shall be entitled to withdraw any part of such Person’s Capital Contribution or Capital Account or to receive any Distribution from the Company, except as expressly provided in this Agreement.

  • Permitted Withdrawals From Custodial Account The Company shall, from time to time, withdraw funds from the Custodial Account for the following purposes: (i) to make payments to the Purchaser in the amounts and in the manner provided for in Section 5.01; (ii) to reimburse itself for Monthly Advances of the Company's funds made pursuant to Section 5.03, the Company's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late payments of principal and/or interest respecting which any such advance was made, it being understood that, in the case of any such reimbursement, the Company's right thereto shall be prior to the rights of Purchaser, except that, where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03 or 6.02, the Company's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loan; (iii) to reimburse itself for unreimbursed Servicing Advances, and for any unpaid Servicing Fees, the Company's right to reimburse itself pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Company from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of any such reimbursement, the Company's right thereto shall be prior to the rights of Purchaser, except that where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03 or 6.02, in which case the Company's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loan; (iv) to pay itself interest on funds deposited in the Custodial Account; (v) to reimburse itself for expenses incurred and reimbursable to it pursuant to Section 8.01; (vi) to pay any amount required to be paid pursuant to Section 4.16 related to any REO Property, it being understood that, in the case of any such expenditure or withdrawal related to a particular REO Property, the amount of such expenditure or withdrawal from the Custodial Account shall be limited to amounts on deposit in the Custodial Account with respect to the related REO Property; (vii) to reimburse itself for any Servicing Advances or REO expenses after liquidation of the Mortgaged Property not otherwise reimbursed above; (viii) to remove funds inadvertently placed in the Custodial Account by the Company; and (ix) to clear and terminate the Custodial Account upon the termination of this Agreement. In the event that the Custodial Account is interest bearing, on each Remittance Date, the Company shall withdraw all funds from the Custodial Account except for those amounts which, pursuant to Section 5.01, the Company is not obligated to remit on such Remittance Date. The Company may use such withdrawn funds only for the purposes described in this Section 4.05.

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error. (b) On an ongoing basis, the Master Servicer shall withdraw from the Master Servicer Collection Account (i) any expenses recoverable by the Trustee, the Master Servicer or the Securities Administrator or the Custodian pursuant to Sections 3.03, 7.04 and 9.05 and (ii) any amounts payable to the Master Servicer as set forth in Section 3.14. (c) In addition, on or before each Distribution Account Deposit Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Trustee for deposit therein) any Monthly Advances required to be made by the Master Servicer with respect to the Mortgage Loans. (d) No later than 3:00 p.m. New York time on each Distribution Account Deposit Date, the Master Servicer will transfer all Available Funds on deposit in the Master Servicer Collection Account with respect to the related Distribution Date to the Trustee for deposit in the Distribution Account.