CDP will, and each Settlement Participant irrevocably authorises CDP to, submit Settlement Instructions:

(a) for settlement of rights and obligations between each Clearing Member and CDP under the CDP Clearing Rules;
(b) to effect any action that CDP is entitled to take, and to settle any rights and obligations arising, under the CDP Clearing Rules, in relation to the default of a Clearing Member; or
(c) pursuant to Rule 7.6.2.

Added on 10 December 201810 December 2018.