Template:ISDA New York Law Credit Support Annex 2016 6(d): Difference between revisions

{{nyvmcsaprov|6(d)}} '''{{nyvmcsaprov|Distributions, Interest Amount (VM) and Interest Payment (VM)}}'''.<br>

:{{nyvmcsaprov|6(d)(i)}} '''{{nyvmcsaprov|Distributions}}'''. Subject to Paragraph {{nyvmcsaprov|4(a)}}, if the {{nyvmcsaprov|Secured Party}} receives or is deemed to receive {{nyvmcsaprov|Distributions}} on a {{nyvmcsaprov|Local Business Day}}, it will {{nyvmcsaprov|Transfer}} to the {{nyvmcsaprov|Pledgor}} not later than the following {{nyvmcsaprov|Local Business Day}} any {{nyvmcsaprov|Distributions}} it receives or is deemed to receive to the extent that a {{nyvmcsaprov|Delivery Amount (VM)}} would not be created or increased by that {{nyvmcsaprov|Transfer}}, as calculated by the {{nyvmcsaprov|Valuation Agent}} (and the date of calculation will be deemed to be a {{nyvmcsaprov|Valuation Date}} for this purpose).<br>

::{{nyvmcsaprov|6(d)(ii)(A)}} if “{{nyvmcsaprov|Interest Transfer}}” is specified as applicable in Paragraph {{nyvmcsaprov|13}}, the {{nyvmcsaprov|Interest Payer (VM)}} will {{nyvmcsaprov|Transfer}} to the {{nyvmcsaprov|Interest Payee (VM)}}, at the times specified in Paragraph {{nyvmcsaprov|13}}, the relevant {{nyvmcsaprov|Interest Payment (VM)}}; provided that if “Interest Payment Netting” is specified as applicable in Paragraph {{nyvmcsaprov|13}}: <br>

:::{{nyvmcsaprov|6(d)(ii)(A)(I)}} if the {{nyvmcsaprov|Interest Payer (VM)}} is entitled to demand a {{nyvmcsaprov|Delivery Amount (VM)}} or {{nyvmcsaprov|Return Amount (VM)}}, in respect of the date such {{nyvmcsaprov|Interest Payment (VM)}} is required to be {{nyvmcsaprov|Transfer}}red:<br>