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Amwelladmin (talk | contribs) (Created page with "===Paragraph {{nyvmcsaprov|7}} '''{{nyvmcsaprov|Events of Default)}}'''=== For purposes of Section 5(a)(iii)(1) of this Agreement, an {{isdaprov|Event of Default}} will exist...") |
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===Paragraph {{nyvmcsaprov|7}} '''{{nyvmcsaprov|Events of Default | ===Paragraph {{nyvmcsaprov|7}} '''{{nyvmcsaprov|Events of Default}}'''=== | ||
For purposes of Section 5(a)(iii)(1) of this Agreement, an {{isdaprov|Event of Default}} will exist with respect to a party if:<br> | For purposes of Section 5(a)(iii)(1) of this Agreement, an {{isdaprov|Event of Default}} will exist with respect to a party if:<br> | ||
:{{nyvmcsaprov|7(i)}} that party fails (or fails to cause its {{nyvmcsaprov|Custodian (VM)}}) to make, when due, any {{nyvmcsaprov|Transfer}} of {{nyvmcsaprov|Eligible Collateral (VM)}}, {{nyvmcsaprov|Posted Collateral (VM)}} or the {{nyvmcsaprov|Interest Payment (VM)}}, as applicable, required to be made by it and that failure continues for two {{nyvmcsaprov|Local Business Day}}s after notice of that failure is given to that party;<br> | :{{nyvmcsaprov|7(i)}} that party fails (or fails to cause its {{nyvmcsaprov|Custodian (VM)}}) to make, when due, any {{nyvmcsaprov|Transfer}} of {{nyvmcsaprov|Eligible Collateral (VM)}}, {{nyvmcsaprov|Posted Collateral (VM)}} or the {{nyvmcsaprov|Interest Payment (VM)}}, as applicable, required to be made by it and that failure continues for two {{nyvmcsaprov|Local Business Day}}s after notice of that failure is given to that party;<br> | ||
:{{nyvmcsaprov|7(ii)}} that party fails to comply with any restriction or prohibition specified in this Annex with respect to any of the rights specified in Paragraph {{nyvmcsaprov|6(c)}} and that failure continues for five {{nyvmcsaprov|Local Business Day}}s after notice of that failure is given to that party; or<br> | :{{nyvmcsaprov|7(ii)}} that party fails to comply with any restriction or prohibition specified in this Annex with respect to any of the rights specified in Paragraph {{nyvmcsaprov|6(c)}} and that failure continues for five {{nyvmcsaprov|Local Business Day}}s after notice of that failure is given to that party; or<br> | ||
:{{nyvmcsaprov|7(iii)}} that party fails to comply with or perform any agreement or obligation other than those specified in Paragraphs {{nyvmcsaprov|7(i)}} and {{nyvmcsaprov|7(ii)}} and that failure continues for 30 days after notice of that failure is given to that party.<br> | :{{nyvmcsaprov|7(iii)}} that party fails to comply with or perform any agreement or obligation other than those specified in Paragraphs {{nyvmcsaprov|7(i)}} and {{nyvmcsaprov|7(ii)}} and that failure continues for 30 days after notice of that failure is given to that party.<br> |