Template:ISDA English Law Credit Support Annex 1995 Settlement Day: Difference between revisions

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"'''{{csaprov|Settlement Day}}'''” means, in relation to a date, (i) with respect to a {{csaprov|transfer}} of cash or other property (other <br>than securities), the next {{csaprov|Local Business Day}} and (ii) with respect to a {{csaprov|transfer}} of securities, the first {{prov2|csa|Local Business Day|Local}} <br>{{prov2|csa|Local Business Day|Business Day}} after such date on which settlement of a trade in the relevant securities, if effected on such <br>date, would have been settled in accordance with customary practice when settling through the clearance <br>system agreed between the parties for delivery of such securities or, otherwise, on the market in which such <br>securities are principally traded (or, in either case, if there is no such customary practice, on the first {{prov2|csa|Local Business Day|Local}} <br>{{prov2|csa|Local Business Day|Business Day}} after such date on which it is reasonably practicable to deliver such securities). <br>
“'''{{csaprov|Settlement Day}}'''” means, in relation to a date, (i) with respect to a {{csaprov|transfer}} of cash or other property (other than securities), the next {{csaprov|Local Business Day}} and (ii) with respect to a {{csaprov|transfer}} of securities, the first {{csaprov|Local Business Day}} after such date on which settlement of a trade in the relevant securities, if effected on such date, would have been settled {{f|in accordance with}} customary practice when settling through the clearance system agreed between the parties for delivery of such securities or, otherwise, on the market in which such securities are principally traded (or, {{f|in either case}}, if there is no such customary practice, on the first {{csaprov|Local Business Day}} after such date on which it is reasonably practicable to deliver such securities). <br>

Latest revision as of 17:01, 12 December 2022

“Settlement Day” means, in relation to a date, (i) with respect to a transfer of cash or other property (other than securities), the next Local Business Day and (ii) with respect to a transfer of securities, the first Local Business Day after such date on which settlement of a trade in the relevant securities, if effected on such date, would have been settled in accordance with customary practice when settling through the clearance system agreed between the parties for delivery of such securities or, otherwise, on the market in which such securities are principally traded (or, in either case, if there is no such customary practice, on the first Local Business Day after such date on which it is reasonably practicable to deliver such securities).

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