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Covered Transactions; Exposure - VM CSA Provision: Difference between revisions
Covered Transactions; Exposure - VM CSA Provision (view source)
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:[“'''Security-Based Swap'''” means a “[[security-based swap]]” as defined in Section 3(a)(68) of the U.S. [[Securities Exchange Act of 1934]], as amended (“'''SEA'''”), and the rules adopted thereunder. For the avoidance of doubt, the term “Security-Based Swap” does not include a security-based swap that has been cleared by a “clearing agency” as such term is defined in Section 3(a)(23) of the SEA and the rules adopted thereunder.] | :[“'''Security-Based Swap'''” means a “[[security-based swap]]” as defined in Section 3(a)(68) of the U.S. [[Securities Exchange Act of 1934]], as amended (“'''SEA'''”), and the rules adopted thereunder. For the avoidance of doubt, the term “Security-Based Swap” does not include a security-based swap that has been cleared by a “clearing agency” as such term is defined in Section 3(a)(23) of the SEA and the rules adopted thereunder.] | ||
:[“Swap” means a “swap” as defined in Section 1a(47) of the U.S. [[Commodity Exchange Act]], as amended (“CEA”), and the regulations adopted thereunder. For the avoidance of doubt, the term “Swap” does not include a swap that has been cleared by a “derivatives clearing organization” as such term is defined in Section 1a(15) of the CEA and the regulations adopted thereunder.] | :[“Swap” means a “swap” as defined in Section 1a(47) of the U.S. [[Commodity Exchange Act]], as amended (“CEA”), and the regulations adopted thereunder. For the avoidance of doubt, the term “Swap” does not include a swap that has been cleared by a “derivatives clearing organization” as such term is defined in Section 1a(15) of the CEA and the regulations adopted thereunder.] | ||
:[For the purposes of the foregoing, a {{ | :[For the purposes of the foregoing, a {{isdaprov|Transaction}} will be deemed to be entered into on or after the date specified in this Paragraph {{vmcsaprov|11(b)(i)}} if an [[amendment]], [[novation]] or other lifecycle event with respect to such {{isdaprov|Transaction}} would cause such {{isdaprov|Transaction}} to be entered into after such date under law applicable to either party requiring the collection or delivery of [[variation margin]].] | ||
:{{vmcsaprov|11(b)(ii)}} “'''{{vmcsaprov|Exposure}}'''” has the meaning specified in Paragraph {{vmcsaprov|10}}, unless otherwise specified here: | :{{vmcsaprov|11(b)(ii)}} “'''{{vmcsaprov|Exposure}}'''” has the meaning specified in Paragraph {{vmcsaprov|10}}, unless otherwise specified here: | ||