|
|
| (One intermediate revision by the same user not shown) |
| Line 1: |
Line 1: |
| {{csaprov|3(c)}} '''{{csaprov|Exchanges}}'''.<br> | | {{csaprov|3(c)}} '''{{csaprov|Exchanges}}'''.<br> |
| :(i) Unless otherwise specified in Paragraph {{csaprov|11}}, the {{csaprov|Transferor}} may on any Local Business <br>Day by notice inform the {{csaprov|Transferee}} that it wishes to transfer to the {{csaprov|Transferee}} Eligible Credit <br>Support specified in that notice (the "{{csaprov|New Credit Support}}") in exchange for certain Eligible Credit <br>Support (the "{{csaprov|Original Credit Support}}") specified in that notice comprised in the {{csaprov|Transferor}}'s <br>{{csaprov|Credit Support Balance}}.<br>
| | {{ISDA English Law Credit Support Annex 1995 3(c)(i)}} |
| :(ii) If the {{csaprov|Transferee}} notifies the {{csaprov|Transferor}} that it has consented to the proposed exchange, <br>(A) the {{csaprov|Transferor}} will be obliged to transfer the {{csaprov|New Credit Support}} to the {{csaprov|Transferee}} on the first <br>{{csaprov|Settlement Day}} following the date on which it receives notice (which may be oral telephonic notice) <br>from the Transferee of its consent and (B) the {{csaprov|Transferee}} will be obliged to transfer to the <br>{{csaprov|Transferor}} {{csaprov|Equivalent Credit Support}} in respect of the {{csaprov|Original Credit Support}} not later than the <br>{{csaprov|Settlement Day}} following the date on which the {{csaprov|Transferee}} receives the {{csaprov|New Credit Support}}, unless <br>otherwise specified in Paragraph {{csaprov|11(d)}} (the "'''{{csaprov|Exchange Date}}'''"); provided that the {{csaprov|Transferee}} will <br>only be obliged to transfer {{csaprov|Equivalent Credit Support}} with a {{csaprov|Value}} as of the date of transfer as <br>close as practicable to, but in any event not more than, the {{csaprov|Value}} of the {{csaprov|New Credit Support}} as of <br>that date.<br>
| | {{ISDA English Law Credit Support Annex 1995 3(c)(ii)}} |