Past version: Effective up to 21 Apr 2013
Subject to Rule 6.6, in respect of a New Sale Contract, CDP shall pay the purchase consideration to the selling customer by 5.00 p.m. on the Market Day following the Settlement Day and title and right to such moneys shall not at any time pass to the Defaulting Clearing Member, provided always that if the selling customer is indebted to the Defaulting Clearing Member, the selling customer agrees that CDP shall pay such purchase consideration or such part thereof (if the debt is less than the purchase consideration) to the Defaulting Clearing Member in satisfaction or part satisfaction of such selling customer's debt to the Defaulting Clearing Member.