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| {{ISDA New York Law Credit Support Annex 2016 6(a)}} | | {{ISDA New York Law Credit Support Annex 2016 6(a)}} |
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| :{{nyvmcsaprov|6(b)(i)}} '''General'''. Subject to the satisfaction of any conditions specified in Paragraph {{nyvmcsaprov|13 }} for holding {{nyvmcsaprov|Posted Collateral (VM)}}, the {{nyvmcsaprov|Secured Party}} will be entitled to hold {{nyvmcsaprov|Posted Collateral (VM)}} or to appoint an agent (a “'''{{nyvmcsaprov|Custodian (VM)}}'''”) to hold {{nyvmcsaprov|Posted Collateral (VM)}} for the {{nyvmcsaprov|Secured Party}}. Upon notice by the {{nyvmcsaprov|Secured Party}} to the {{nyvmcsaprov|Pledgor}} of the appointment of a {{nyvmcsaprov|Custodian (VM)}}, the {{nyvmcsaprov|Pledgor}}’s obligations to make any {{nyvmcsaprov|Transfer}} will be discharged by making the {{nyvmcsaprov|Transfer}} to that {{nyvmcsaprov|Custodian (VM)}}. The holding of {{nyvmcsaprov|Posted Collateral (VM)}} by a {{nyvmcsaprov|Custodian (VM)}} will be deemed to be the holding of that {{nyvmcsaprov|Posted Collateral (VM)}} by the {{nyvmcsaprov|Secured Party}} for which the {{nyvmcsaprov|Custodian (VM)}} is acting.<br>
| | {{ISDA New York Law Credit Support Annex 2016 6(b)}} |
| :{{nyvmcsaprov|6(b)(ii)}} '''{{nyvmcsaprov|Failure to Satisfy Conditions}}'''. If the {{nyvmcsaprov|Secured Party}} or its {{nyvmcsaprov|Custodian (VM)}} fails to satisfy any conditions for holding {{nyvmcsaprov|Posted Collateral (VM)}}, then upon a demand made by the {{nyvmcsaprov|Pledgor}}, the {{nyvmcsaprov|Secured Party}} will, not later than five {{nyvmcsaprov|Local Business Day}}s after the demand, {{nyvmcsaprov|Transfer}} or cause its {{nyvmcsaprov|Custodian (VM)}} to {{nyvmcsaprov|Transfer}} all {{nyvmcsaprov|Posted Collateral (VM)}} held by it to a {{nyvmcsaprov|Custodian (VM)}} that satisfies those conditions or to the {{nyvmcsaprov|Secured Party}} if it satisfies those conditions.<br>
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| :{{nyvmcsaprov|6(b)(iii)}} '''Liability'''. The {{nyvmcsaprov|Secured Party}} will be liable for the acts or omissions of its {{nyvmcsaprov|Custodian (VM)}} to the same extent that the {{nyvmcsaprov|Secured Party}} would be liable hereunder for its own acts or omissions.<br>
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| {{ISDA New York Law Credit Support Annex 2016 6(c)}} | | {{ISDA New York Law Credit Support Annex 2016 6(c)}} |
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