Template:ISDA English Law Credit Support Deed 2018 6(a): Difference between revisions

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(Created page with "{{imcsdprov|6(a)}} '''{{imcsdprov|General}}'''. The {{imcsdprov|Custodian (IM)}} appointed with respect to each party as {{imcsdprov|Chargor}} is set out in Paragraph {{imcsdp...")
 
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{{imcsdprov|6(a)}} '''{{imcsdprov|General}}'''. The {{imcsdprov|Custodian (IM)}} appointed with respect to each party as {{imcsdprov|Chargor}} is set out in Paragraph {{imcsdprov|13}}. Each party as the {{imcsdprov|Chargor}} and the other party as the {{imcsdprov|Secured Party}} and the relevant {{imcsdprov|Custodian (IM)}} have entered, or will, on or before the first day amounts are required to be transferred hereunder, enter into the {{imcsdprov|Control Agreement}} regulating the rights of each party to serve instructions on the {{imcsdprov|Custodian (IM)}}. Prior to the enforcement of its rights under Paragraph {{imcsdprov|8}}, the {{imcsdprov|Secured Party}} will have no right to hold (other than in accordance with Paragraph {{imcsdprov|1(b)}} or as otherwise agreed between the parties) and have no duty with respect to {{imcsdprov|Posted Credit Support (IM)}}, including, [[without limitation]], any duty to collect any {{imcsdprov|Distribution}}s, or enforce or preserve any rights pertaining to the {{imcsdprov|Posted Credit Support (IM)}}. <br>
{{imcsdprov|6(a)}} '''General'''. The {{imcsdprov|Custodian (IM)}} appointed with respect to each party as {{imcsdprov|Chargor}} is set out in Paragraph {{imcsdprov|13}}. Each party as the {{imcsdprov|Chargor}} and the other party as the {{imcsdprov|Secured Party}} and the relevant {{imcsdprov|Custodian (IM)}} have entered, or will, on or before the first day amounts are required to be transferred hereunder, enter into the {{imcsdprov|Control Agreement}} regulating the rights of each party to serve instructions on the {{imcsdprov|Custodian (IM)}}. Prior to the enforcement of its rights under Paragraph {{imcsdprov|8}}, the {{imcsdprov|Secured Party}} will have no right to hold (other than in accordance with Paragraph {{imcsdprov|1(b)}} or as otherwise agreed between the parties) and have no duty with respect to {{imcsdprov|Posted Credit Support (IM)}}, including, [[without limitation]], any duty to collect any {{imcsdprov|Distribution}}s, or enforce or preserve any rights pertaining to the {{imcsdprov|Posted Credit Support (IM)}}. <br>

Latest revision as of 14:47, 13 May 2024

6(a) General. The Custodian (IM) appointed with respect to each party as Chargor is set out in Paragraph 13. Each party as the Chargor and the other party as the Secured Party and the relevant Custodian (IM) have entered, or will, on or before the first day amounts are required to be transferred hereunder, enter into the Control Agreement regulating the rights of each party to serve instructions on the Custodian (IM). Prior to the enforcement of its rights under Paragraph 8, the Secured Party will have no right to hold (other than in accordance with Paragraph 1(b) or as otherwise agreed between the parties) and have no duty with respect to Posted Credit Support (IM), including, without limitation, any duty to collect any Distributions, or enforce or preserve any rights pertaining to the Posted Credit Support (IM).

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