Common use of Subject Matter and Scope Clause in Contracts

Subject Matter and Scope. 1. The Terms and Conditions set out in this Part I shall govern the relationship between the National Bank of Belgium (hereafter the “NBB”) and its participants in TARGET-BE in respect of the opening and operation of TARGET accounts. The Terms and Conditions set out in the following Parts II, III, IV, V, VI and VII apply as far as participants opt for and are granted one or more accounts described in such Parts. The Terms and Conditions set out in Parts I to VII of these Terms and Conditions are referred to collectively as the ‘Harmonised Conditions’ or the ‘Conditions’. 2. For the purpose of these Conditions, ‘participant’ means a) an entity that holds at least one Main Cash Account (MCA) and may additionally hold one or more Dedicated Cash Accounts (DCAs) in TARGET or b) an Ancillary System, as defined in Appendix VIII.