Initiation; Confirmation; Termination Sample Clauses
The 'Initiation; Confirmation; Termination' clause defines the procedures for starting, verifying, and ending an agreement or specific transactions under a contract. Typically, it outlines how parties formally initiate a transaction, the methods by which they confirm mutual agreement—such as through written notices or electronic confirmations—and the steps required to properly terminate the arrangement, including any required notifications or conditions. This clause ensures that all parties have a clear, documented process for the lifecycle of their contractual relationship, reducing the risk of misunderstandings or disputes regarding when obligations begin, are confirmed, or come to an end.
Initiation; Confirmation; Termination. (a) An agreement to enter into a Transaction may be made orally or in writing at the initiation of either Buyer or Seller. On the Purchase Date for the Transaction, the Purchased Securities shall be transferred to Buyer or its agent against the transfer of the Purchase Price to an account of Seller.
(b) Upon agreeing to enter into a Transaction hereunder, Buyer or Seller (or both), as shall be agreed, shall promptly deliver to the other party a written confirmation of each Transaction (a “Confirmation”). The Confirmation shall describe the Purchased Securities (including CUSIP number, if any), identify Buyer and Seller and set forth (i) the Purchase Date, (ii) the Purchase Price, (iii) the Repurchase Date, unless the Transaction is to be terminable on demand, (iv) the Pricing Rate or Repurchase Price applicable to the Transaction, and (v) any additional terms or conditions of the Transaction not inconsistent with this Agreement. The Confirmation, together with this Agreement, shall constitute conclusive evidence of the terms agreed between Buyer and Seller with respect to the Transaction to which the Confirmation relates, unless with respect to the Confirmation specific objection is made promptly after receipt thereof. In the event of any conflict between the terms of such Confirmation and this Agreement, this Agreement shall prevail.
(c) In the case of Transactions terminable upon demand, such demand shall be made by Buyer or Seller, no later than such time as is customary in accordance with market practice, by telephone or otherwise on or prior to the business day on which such termination will be effective. On the date specified in such demand, or on the date fixed for termination in the case of Transactions having a fixed term, termination of the Transaction will be effected by transfer to Seller or its agent of the Purchased Securities and any Income in respect thereof received by Buyer (and not previously credited or transferred to, or applied to the obligations of, Seller pursuant to Paragraph 5 hereof) against the transfer of the Repurchase Price to an account of Buyer.
Initiation; Confirmation; Termination. Notwithstanding anything to the contrary in Paragraph 3 of the SIFMA Master, the following shall apply:
Initiation; Confirmation; Termination. The provisions of Paragraph 3(a) and (b) of the Base Agreement are hereby deleted and replaced in their respective entireties by the following provisions:
(a) By 2:00 P.M., New York time, on the Purchase Date for a Transaction, Buyer shall transfer the Purchase Price with respect to each Purchased Security specified in the relevant Confirmation to Seller by wire transfer of immediately available funds to either (i) the Authorized Account or (ii) the relevant account for any Senior Priority Payment identified by FSAM under Section 11.2 of the Pledge and Administration Agreement in relation to which a Transaction is requested hereunder, and the related Purchased Security shall be concurrently transferred by Seller to an account specified by Buyer.
(i) Seller (or the Collateral Agent or FSA as contemplated by (vi) below) may, from time to time, prior to the Facility Termination Date, request that Buyer enter into a Transaction with respect to one or more Eligible Securities. Seller (or the Collateral Agent or FSA as contemplated by (vi) below) shall initiate each request by submitting a written request, which shall set forth (A) information identifying, and specifying the principal amount of, each Eligible Security to be sold to Buyer as Purchased Securities, (B) the Purchase Price in relation to such Purchased Securities based on the calculation thereof by the Collateral Agent, (C) a date not earlier than one (1) Business Day following, and not later than three (3) Business Days following, the effective date of such request as the proposed Purchase Date, (D) the Specified LIBOR Period for the relevant Transaction, (E) such date, if any, as Seller (or the Collateral Agent or FSA as contemplated by (vi) below) may elect to specify as a fixed date of termination of such Transaction (a “Repurchase Transaction Request”). Each Repurchase Transaction Request shall be accompanied by the certificate described in clause (iii) below. Except as provided in clauses (ii) and (vii) below, any such Repurchase Transaction Request shall be effective (x) on the Business Day made, if delivered to Buyer at or before 4:30 P.M., Paris time, (the “Notice Deadline”) on such Business Day, or (y) otherwise, on the Business Day immediately following the date of its delivery to the Buyer. Each Repurchase Transaction Request shall be copied to the Collateral Agent at its address designated pursuant to Annex 2 to the Agreement. Any Repurchase Transaction Request will be made by email or f...
Initiation; Confirmation; Termination. (a) A Transaction may be entered into orally or in writing at the initiation of either the Buyer or the Seller.
(b) Upon agreeing to enter into a Transaction hereunder the Buyer or the Seller, as shall have been agreed, shall by the business day next following a transaction deliver to the other Party written confirmation of such Transaction (a "Confirmation"). The Confirmation shall describe the Purchased Securities (including any identifying number or numbers, if any), identify the Buyer and the Seller and set forth -
(i) the Purchase Date;
(ii) the Purchase Price;
(iii) the Repurchase Date or in the case of no Repurchase Date, that the Transaction is terminable on demand by either Buyer or Seller;
(iv) the Pricing Rate applicable to the Transaction;
(v) in respect of each Party the details of the bank account(s) to which payments to be made hereunder are to be credited;
Initiation; Confirmation; Termination. (a) An agreement to enter into a Transaction may be made orally or in writing at the initiation of either Buyer or Seller. On the Purchase Date for the Transaction, the Purchased Securities shall be transferred to Buyer or its agent against the transfer of the Purchase Price to an account of Seller.
(b) Upon agreeing to enter into a Transaction hereunder, Buyer or Seller (or both), as shall be agreed, shall promptly deliver to the other party a written confirmation of each Transaction (a “Confirmation”). The Confirmation shall describe the Purchased Securities (including CUSIP number, if any), identify Buyer and Seller and set forth (i) the Purchase Date, (ii) the Purchase Price, (iii) the Repurchase Date, unless the Transaction is to be terminable on demand, (iv) the Pricing Rate or Repurchase Price applicable to the Transaction, and (v) any additional terms or conditions of the Transaction not inconsistent with this Agreement. The
Initiation; Confirmation; Termination. (a) A Transaction may be entered into orally or in writing at the initiation of either Buyer or Seller.
(b) Upon agreeing to enter into a Transaction hereunder Buyer or Seller (or both), as shall have been agreed, shall promptly deliver to the other party written confirmation of such Transaction (a "Confirmation"). The Confirmation shall describe the Purchased Securities (including CUSIP or ISIN or other identifying number or numbers, if any), identify Buyer and Seller and set forth -
(i) the Purchase Date; (ii) the Purchase Price;
Initiation; Confirmation; Termination. (a) An agreement to enter into a Transaction may be made orally or in writing at the initiation of either Buyer or Seller. On the Purchase Date for the Transaction, the Purchased Securities shall be transferred to Buyer or its agent against the transfer of the Purchase Price to an account of Seller.
(b) Upon agreeing to enter into a Transaction hereunder, Buyer or Seller (or both), as shall be agreed, shall promptly deliver to the other party a written confirmation of each Transaction (a “Confirmation”). The Confirmation shall describe the Purchased Securities (type(s), maturity date(s) and volume(s)), identify Buyer and Seller and set forth:
(i) the Purchase Date,
(ii) the Purchase Price,
(iii) the Repurchase Date,
(iv) the Pricing Rate or Repurchase Price applicable to the Transaction, and
(v) any additional terms or conditions of the Transaction not inconsistent with this Agreement. The Confirmation, together with this Agreement, shall constitute conclusive evidence of the terms agreed between Buyer and Seller with respect to the Transaction to which the Confirmation relates, unless with respect to the Confirmation specific objection is made promptly after receipt thereof. In the event of any conflict between the terms of such Confirmation and this Agreement, this Agreement shall prevail.
Initiation; Confirmation; Termination. An agreement to enter into a Transaction may be made orally or in writing at the initiation of either Buyer of Seller. On the Purchase Date for the Transaction, the Purchased Securities shall be transferred to Buyer or its agent against the transfer of the Purchase Price to an account of Seller.
Initiation; Confirmation; Termination. Paragraph 3
(a) is hereby amended and restated in its entirety to read as follows:
(a) An agreement to enter into a Transaction may be made orally or in writing at the initiation of either Buyer or Seller. On the Purchase Date for the Transaction, the Purchased Securities shall be transferred to Buyer or its agent against the transfer of the Purchase Price to an account of Seller. Buyer hereby agrees that its agent for such purposes shall be Citigroup Global Markets Inc.
Initiation; Confirmation; Termination. (a) Unless otherwise agreed, on or promptly following the date on which the parties reach agreement on the terms of a Transaction as contemplated by Section 2.2 of the Agreement, ▇▇▇▇▇▇▇ ▇▇▇▇▇ Canada ▇▇▇.▇▇▇▇▇ A will send to Enron North America ▇▇▇▇.▇▇▇▇▇ B a Confirmation. If any dispute shall arise as to whether an error exists in a Confirmation, the parties shall in good faith make reasonable efforts to resolve the dispute.
(b) Each party hereby consents to the monitoring or recording, at any time and from time to time, by the other party of any and all communications between officers or employees of the parties pursuant to or concerning this Agreement, and waives any further notice of such monitoring or recording.