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instructing participants shall designate every payment order as one of the following :
instructing participants shall designate every payment order as one of the following :

instructing participant may also use the latest debit time indicator solely as a warning indicator .
instructing participant may also use the latest debit time indicator solely as a warning indicator .

instructing participants can change the earliest debit time indicator and the latest debit time indicator via the icm .
instructing participants can change the earliest debit time indicator and the latest debit time indicator via the icm .

15 minutes prior to the defined debit time , the instructing participant shall be sent an automatic notification via the icm .
15 minutes prior to the defined debit time , the instructing participant shall be sent an automatic notification via the icm .

instructing participants may predetermine the settlement time of the payment orders within a business day by using the earliest debit time indicator or the latest debit time indicator .
instructing participants may predetermine the settlement time of the payment orders within a business day by using the earliest debit time indicator or the latest debit time indicator .

instructing participants shall designate every payment order as one of the following : normal payment order ( priority class 2 ) ;
instructing participants shall designate every payment order as one of the following : normal payment order ( priority class 2 ) ;

error codes if a payment order is rejected , the instructing participant shall receive an abort notification ( mt 019 ) indicating the reason for the rejection by using error codes .
error codes if a payment order is rejected , the instructing participant shall receive an abort notification ( mt 019 ) indicating the reason for the rejection by using error codes .

--- « information and control module ( icm ) » means the ssp module that allows participants to obtain on-line information and gives them the possibility to submit liquidity transfer orders , manage liquidity and initiate backup payment orders in contingency situations , --- « icm broadcast message » means information made simultaneously available to all or a selected group of target2 participants via the icm , --- « indirect participant » means a credit institution established in the european economic area ( eea ) , which has entered into an agreement with a direct participant to submit payment orders and receive payments via such direct participant 's pm account , and which has been recognised by a target2 component system as an indirect participant , --- « insolvency proceedings » means insolvency proceedings within the meaning of article 2 ( j ) of the settlement finality directive , --- « instructing participant » means a target2 participant that has initiated a payment order , --- « intraday credit » means credit extended for a period of less than one business day , --- « liquidity transfer order » means a payment order , the main purpose of which is to transfer liquidity between different accounts of the same participant , --- « marginal lending facility » means a eurosystem standing facility which counterparties may use to receive overnight credit from a eurosystem cb at the pre-specified marginal lending rate , --- « marginal lending rate » means the interest rate applicable to the marginal lending facility , --- « multi-addressee access » means the facility by which branches or credit institutions established in the eea can access the relevant target2 component system by submitting payment orders and / or receiving payments directly to and from the target2 component system ;
--- « information and control module ( icm ) » means the ssp module that allows participants to obtain on-line information and gives them the possibility to submit liquidity transfer orders , manage liquidity and initiate backup payment orders in contingency situations , --- « icm broadcast message » means information made simultaneously available to all or a selected group of target2 participants via the icm , --- « indirect participant » means a credit institution established in the european economic area ( eea ) , which has entered into an agreement with a direct participant to submit payment orders and receive payments via such direct participant 's pm account , and which has been recognised by a target2 component system as an indirect participant , --- « insolvency proceedings » means insolvency proceedings within the meaning of article 2 ( j ) of the settlement finality directive , --- « instructing participant » means a target2 participant that has initiated a payment order , --- « intraday credit » means credit extended for a period of less than one business day , --- « liquidity transfer order » means a payment order , the main purpose of which is to transfer liquidity between different accounts of the same participant , --- « marginal lending facility » means a eurosystem standing facility which counterparties may use to receive overnight credit from a eurosystem cb at the pre-specified marginal lending rate , --- « marginal lending rate » means the interest rate applicable to the marginal lending facility , --- « multi-addressee access » means the facility by which branches or credit institutions established in the eea can access the relevant target2 component system by submitting payment orders and / or receiving payments directly to and from the target2 component system ;