(More) Interpretation - IM CSD Provision: Difference between revisions

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Revision as of 18:23, 6 May 2021

2018 ISDA Credit Support Deed (IM) (English law)
A Jolly Contrarian owner’s manual™

Resources and navigation

Paragraph 11(j) in a Nutshell

Use at your own risk, campers!
11(j) Interpretation. All references to laws and regulations in this Deed will be to those laws and regulations as they are amended or replaced from time to time, and will include subordinate regulations. To work out whether if a Transaction is a Covered Transaction (IM) and what margin applies to it, apply the regulations in effect when the Transaction was executed.

Full text of Paragraph 11(j)

11(j) Interpretation. Unless otherwise specified in Paragraph 13, references in this Deed to a law, statute or statutory provision include (i) such law, statute or statutory provision as from time to time amended, modified, re-enacted or consolidated whether before or after the date of this Deed; and (ii) any subordinate legislation from time to time made, amended, modified, re-enacted or consolidated, whether before or after the date of this Deed under any such law, statute or statutory provision. Notwithstanding the foregoing, for the purposes of determining (i) if a Transaction is a Covered Transaction (IM) and (ii) what version of any standardised initial margin schedule applies to a particular Transaction (if the parties have otherwise agreed to apply such standardised initial margin schedule to such Transaction), the relevant law, statute, statutory provision or subordinate legislation will be such law, statute, statutory provision or subordinate legislation as in effect on the date the relevant Transaction was entered into.

Related agreements and comparisons

Related Agreements
Click here for the text of Section [[- VM CSA Provision|]] in the 2016 ISDA VM CSA
Comparisons
Template:Csddiff 11(j)

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Content and comparisons

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Summary

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See also

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References