Trade Date Basis Clause Samples
The Trade Date Basis clause defines how the effective date of a transaction is determined, specifically by referencing the date on which the trade is agreed rather than the date of settlement or delivery. In practice, this means that the rights and obligations of the parties, such as pricing, risk transfer, or contractual deadlines, are anchored to the trade date itself. This clause ensures clarity and consistency in contractual relationships by preventing disputes over which date governs the terms of the transaction, thereby reducing ambiguity and potential conflicts.
Trade Date Basis. For purposes of all calculations hereunder, (x) any Fund Asset for which the Trade Date in respect of a Purchase thereof by the Company has occurred, but the Settlement Date for such sale has not occurred, shall be considered to be owned by the Company from and after such Trade Date unless such Fund Asset is a Delayed Settlement Asset, and (y) any Fund Asset for which the Trade Date in respect of a sale thereof by the Company has occurred, but the Settlement Date for such sale has not occurred, shall no longer be considered to be owned by the Company from and after such Trade Date unless such Fund Asset is a Delayed Settlement Asset.
Trade Date Basis. All determinations of whether an asset or Cash is to be included for purposes of determination of the Borrowing Base, any Eligibility Criteria, any Portfolio Criteria or any other calculation to be made under this Agreement or the other Loan Documents will be on a trade-date basis (meaning that (x) any asset that has been purchased will be treated as a Collateral Asset from and after the trade date for such purchase, and the amount of any Cash to be applied to effectuate such purchase will be treated as disbursed as of the trade for such purchase, and (y) any Collateral Asset which has been sold will be excluded as a Collateral Asset from and after the trade date for such sale, and the expected Cash proceeds from such sale will be treated as received as of the trade date for such sale so long as such sale has been made to an Approved Dealer).
Trade Date Basis. For purposes of this Agreement and the other Loan Documents, all determinations of whether an investment is to be included as a Portfolio investment shall be determined on a trade date basis (meaning that any investment that has been purchased will be treated as a Portfolio Investment on the date the applicable Loan Party or any Subsidiary of a Loan Party enters into an agreement to acquire such Portfolio Investment, and any Portfolio Investment which has been sold will be excluded as a Portfolio Investment on the date the applicable Loan Party or any Subsidiary of a Loan Party enters into an agreement to sell such Portfolio Investment).
Trade Date Basis. For purposes of this Agreement and the other Loan Documents, all determinations of whether an investment is to be included as a Portfolio Investment shall be determined on a trade date basis (meaning that any investment that has been purchased will be treated as a Portfolio Investment on the date the applicable Person enters into an agreement to acquire such Portfolio Investment, and any Portfolio Investment which has been sold will be excluded as a Portfolio Investment on the date the applicable Person enters into an agreement to sell such Portfolio Investment); provided that such investment shall no longer be included or excluded as a Portfolio Investment, as the case may be, if the purchase or sale of such Portfolio Investment has not settled within 90 days thereafter unless the applicable Person has entered into a new agreement to purchase or sell such Portfolio Investment before the end of such 90 day period.