Representation - VM CSA Provision: Difference between revisions

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{{csaanat|7|2016|8}}Substantively identical between the {{csa}} and {{vmcsa}}, as the handy comparison link in the panel to the right.
{{Manual|MCAE|2016|7|Paragraph|8|short}}
{{Clearing system liens}}
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Revision as of 14:46, 21 April 2021

2016 ISDA Credit Support Annex (VM) (English law)
A Jolly Contrarian owner’s manual™

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Paragraph 7 in a Nutshell

Use at your own risk, campers!
Paragraph 7. Representation
Each party represents on each transfer date that it has the right to transfer all property it transfers under this Annex, free of any encumbrance (other than a customary clearing system lien).

Full text of Paragraph 7

Paragraph 7. Representation
Each party represents to the other party (which representation will be deemed to be repeated as of each date on which it transfers Eligible Credit Support (VM), Equivalent Credit Support (VM) or Equivalent Distributions) that it is the sole owner of or otherwise has the right to transfer all Eligible Credit Support (VM), Equivalent Credit Support (VM) or Equivalent Distributions it transfers to the other party under this Annex, free and clear of any security interest, lien, encumbrance or other restriction (other than a lien routinely imposed on all securities in a relevant clearance system).


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Content and comparisons

Substantively identical between the 1995 CSA and 2016 VM CSA, as the handy comparison link in the panel to the right.

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Summary

Template:Clearing system liens

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See also

Template:M sa 2016 CSA 7

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References