Common use of Contractual Settlement Date Accounting Clause in Contracts

Contractual Settlement Date Accounting. (a) ▇.▇. ▇▇▇▇▇▇ will effect book entries on a contractual settlement date accounting basis as described below with respect to the settlement for those Financial Assets and transactions as to which ▇.▇. ▇▇▇▇▇▇ customarily offers contractual settlement date accounting. ▇.▇. ▇▇▇▇▇▇ reserves the right to restrict in good faith the availability of contractual settlement date accounting for credit or operational reasons. ▇.▇. ▇▇▇▇▇▇ shall endeavor to notify the Customer prior to effecting such restriction, but will not be in breach of this Agreement if it provides such notice within a reasonable period afterward. (i) Sales: On the settlement date for a sale, ▇.▇. ▇▇▇▇▇▇ will credit the Cash Account with the proceeds of the sale and post the Securities Account as pending delivery of the relevant Financial Assets.