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| ===Paragraph {{nyvmcsaprov|11}} '''{{nyvmcsaprov|Miscellaneous}}'''===
| | Paragraph {{nyvmcsaprov|11}} '''{{nyvmcsaprov|Miscellaneous}}'''<br> |
| {{ISDA New York Law Credit Support Annex 2016 11(a)}} | | {{ISDA New York Law Credit Support Annex 2016 11(a)}} |
| {{ISDA New York Law Credit Support Annex 2016 11(b)}} | | {{ISDA New York Law Credit Support Annex 2016 11(b)}} |
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| {{ISDA New York Law Credit Support Annex 2016 11(i)}} | | {{ISDA New York Law Credit Support Annex 2016 11(i)}} |
| {{ISDA New York Law Credit Support Annex 2016 11(j)}} | | {{ISDA New York Law Credit Support Annex 2016 11(j)}} |
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| {{nyvmcsaprov|11(e)}} '''{{nyvmcsaprov|Demands and Notices}}'''. All {{nyvmcsaprov|Demands and Notices}} made by a party under this Annex will be made as specified in the Notices Section of this Agreement, except as otherwise provided in Paragraph {{nyvmcsaprov|13}}.<br>
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| {{nyvmcsaprov|11(f)}} '''{{nyvmcsaprov|Specifications of Certain Matters}}'''. Anything referred to in this Annex as being specified in Paragraph {{nyvmcsaprov|13}} also may be specified in one or more Confirmations or other documents and this Annex will be construed accordingly.<br>
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| {{nyvmcsaprov|11(g)}} '''{{nyvmcsaprov|Legally Ineligible Credit Support (VM)}}'''. Unless otherwise specified in Paragraph {{nyvmcsaprov|13}}, upon delivery of a {{nyvmcsaprov|Legal Ineligibility Notice}} by a party, each item of {{nyvmcsaprov|Eligible Credit Support (VM)}} (or a specified amount of such item) identified in such notice (i) will cease to be {{nyvmcsaprov|Eligible Credit Support (VM)}} for purposes of {{nyvmcsaprov|Transfer}}s to such party as the {{nyvmcsaprov|Secured Party}} hereunder as of the applicable {{nyvmcsaprov|Transfer Ineligibility Date}}, (ii) will cease to be {{nyvmcsaprov|Eligible Credit Support (VM)}} for the other party as the {{nyvmcsaprov|Pledgor}} for all purposes hereunder as of the {{nyvmcsaprov|Total Ineligibility Date}} and (iii) will have a {{nyvmcsaprov|Value}} of zero on and from the {{nyvmcsaprov|Total Ineligibility Date}}.<br>
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| “'''{{nyvmcsaprov|Legal Ineligibility Notice}}'''” means a written notice from the {{nyvmcsaprov|Secured Party}} to the {{nyvmcsaprov|Pledgor}} in which the {{nyvmcsaprov|Secured Party}} (i) represents that the {{nyvmcsaprov|Secured Party}} has determined that one or more items of {{nyvmcsaprov|Eligible Credit Support (VM)}} (or a specified amount of any such item) either has ceased to satisfy, or as of a specified date will cease to satisfy, collateral eligibility requirements under law applicable to the {{nyvmcsaprov|Secured Party}} requiring the collection of variation margin (the “'''{{nyvmcsaprov|Legal Eligibility Requirements}}'''”), (ii) lists the item(s) of {{nyvmcsaprov|Eligible Credit Support (VM)}} (and, if applicable, the specified amount) that have ceased to satisfy, or as of a specified date will cease to satisfy, the {{nyvmcsaprov|Legal Eligibility Requirements}}, (iii) describes the reason(s) why such item(s) of {{nyvmcsaprov|Eligible Credit Support (VM)}} (or the specified amount thereof) have ceased to satisfy, or will cease to satisfy, the {{nyvmcsaprov|Legal Eligibility Requirements}} and (iv) specifies the {{nyvmcsaprov|Total Ineligibility Date}} and, if different, the {{nyvmcsaprov|Transfer Ineligibility Date}}.<br>
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| “'''{{nyvmcsaprov|Total Ineligibility Date}}'''” means the date on which the relevant item of {{nyvmcsaprov|Eligible Credit Support (VM)}} (or a specified amount of such item) has ceased to satisfy, or will cease to satisfy, the {{nyvmcsaprov|Legal Eligibility Requirements}} applicable to the {{nyvmcsaprov|Secured Party}} for all purposes hereunder; provided that, unless otherwise specified in Paragraph {{nyvmcsaprov|13}}, if such date is earlier than the fifth {{nyvmcsaprov|Local Business Day}} following the date on which the {{nyvmcsaprov|Legal Ineligibility Notice}} is delivered, the {{nyvmcsaprov|Total Ineligibility Date}} will be the fifth {{nyvmcsaprov|Local Business Day}} following the date of such delivery.<br>
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| “'''{{nyvmcsaprov|Transfer Ineligibility Date}}'''” means the date on which the relevant item of {{nyvmcsaprov|Eligible Credit Support (VM)}} (or a specified amount of such item) has ceased to satisfy, or will cease to satisfy, the {{nyvmcsaprov|Legal Eligibility Requirements}} for purposes of {{nyvmcsaprov|Transfer}}s to the {{nyvmcsaprov|Secured Party}} hereunder; provided that, unless otherwise specified in Paragraph {{nyvmcsaprov|13}}, if such date is earlier than the fifth {{nyvmcsaprov|Local Business Day}} following the date on which the {{nyvmcsaprov|Legal Ineligibility Notice}} is delivered, the {{nyvmcsaprov|Transfer Ineligibility Date}} will be the fifth {{nyvmcsaprov|Local Business Day}} following the date of such delivery.<br>
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| {{nyvmcsaprov|11(h)}} '''{{nyvmcsaprov|Return of Posted Credit Support (VM) with a Value of Zero}}'''. Subject to Paragraph {{nyvmcsaprov|4(a)}}, the {{nyvmcsaprov|Secured Party}} will, promptly upon demand (but in no event later than the time at which a {{nyvmcsaprov|Transfer}} would be due under Paragraph 4(b) with respect to a demand for the {{nyvmcsaprov|Transfer}} of {{nyvmcsaprov|Eligible Credit Support (VM)}} or {{nyvmcsaprov|Posted Credit Support (VM)}}), {{nyvmcsaprov|Transfer}} to the {{nyvmcsaprov|Pledgor}} any item of {{nyvmcsaprov|Posted Credit Support (VM)}} (or the specified amount of such item) that as of the date of such demand has a {{nyvmcsaprov|Value}} of zero; provided that the {{nyvmcsaprov|Secured Party}} will only be obligated to {{nyvmcsaprov|Transfer}} any {{nyvmcsaprov|Posted Credit Support (VM)}} in accordance with this Paragraph 11(h), if, as of the date of {{nyvmcsaprov|Transfer}} of such item, the {{nyvmcsaprov|Pledgor}} has satisfied all of its {{nyvmcsaprov|Transfer}} obligations under this Annex, if any.<br>
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| {{nyvmcsaprov|11(i)}} '''{{nyvmcsaprov|Reinstatement of Credit Support Eligibility}}'''. Upon a reasonable request by the {{nyvmcsaprov|Pledgor}}, the {{nyvmcsaprov|Secured Party}} will determine whether an item (or a specified amount of such item) of {{nyvmcsaprov|Eligible Credit Support (VM)}} that was the subject of a prior {{nyvmcsaprov|Legal Ineligibility Notice}} would currently satisfy the {{nyvmcsaprov|Legal Eligibility Requirements}} applicable to the {{nyvmcsaprov|Secured Party}}. If the {{nyvmcsaprov|Secured Party}} determines that as of such date of determination such item (or specified amount of such item) satisfies the {{nyvmcsaprov|Legal Eligibility Requirements}} applicable to the {{nyvmcsaprov|Secured Party}}, the {{nyvmcsaprov|Secured Party}} will promptly following such determination rescind the relevant {{nyvmcsaprov|Legal Ineligibility Notice}} with respect to such item (or specified amount of such item) by written notice to the {{nyvmcsaprov|Pledgor}}. Upon the delivery of such notice, the relevant item (or specified amount of such item) will constitute {{nyvmcsaprov|Eligible Credit Support (VM)}} hereunder.<br>
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| {{nyvmcsaprov|11(j)}} '''{{nyvmcsaprov|Credit Support Offsets}}'''. If the parties specify that “{{nyvmcsaprov|Credit Support Offsets}}” is applicable in Paragraph {{nyvmcsaprov|13}}, and on any date:<br>
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| :{{nyvmcsaprov|11(j)(i)}} a {{nyvmcsaprov|Transfer}} of {{nyvmcsaprov|Eligible Credit Support (VM)}} is due under this Annex to satisfy a {{nyvmcsaprov|Delivery Amount (VM)}} or a {{nyvmcsaprov|Return Amount (VM)}} obligation, and a {{nyvmcsaprov|Transfer}} of credit support (other than any {{nyvmcsaprov|Other CSA Excluded Credit Support}}) is also due under any {{nyvmcsaprov|Other CSA}};<br>
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| :{{nyvmcsaprov|11(j)(ii)}} the parties have notified each other of the credit support that they intend to {{nyvmcsaprov|Transfer}} under this Annex and {{nyvmcsaprov|Transfer}} under such {{nyvmcsaprov|Other CSA}} (other than any {{nyvmcsaprov|Other CSA Excluded Credit Support}}) to satisfy their respective obligations; and<br>
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| :{{nyvmcsaprov|11(j)(iii)}} in respect of Paragraph 11(j)(ii), each party intends to {{nyvmcsaprov|Transfer}} one or more types of credit support that is fully fungible with one or more types of credit support the other party intends to {{nyvmcsaprov|Transfer}} (each such credit support, a “'''{{nyvmcsaprov|Fungible Credit Support Type}}'''”),<br>
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| then, on such date and in respect of each such {{nyvmcsaprov|Fungible Credit Support Type}}, each party’s obligation to make a {{nyvmcsaprov|Transfer}} of any such {{nyvmcsaprov|Fungible Credit Support Type}} hereunder or under such {{nyvmcsaprov|Other CSA}} will be automatically satisfied and discharged and, if the aggregate amount that would have otherwise been {{nyvmcsaprov|Transfer}}red by one party exceeds the aggregate amount that would have otherwise been {{nyvmcsaprov|Transfer}}red by the other party, replaced by an obligation hereunder or under such {{nyvmcsaprov|Other CSA}}, as applicable, upon the party by which the larger aggregate amount would have been {{nyvmcsaprov|Transfer}}red to {{nyvmcsaprov|Transfer}} to the other party the excess of the larger aggregate amount over the smaller aggregate amount. If a party’s obligation to make a {{nyvmcsaprov|Transfer}} of credit support under this Annex or an {{nyvmcsaprov|Other CSA}} is automatically satisfied and discharged pursuant to this Paragraph 11(j), then, for purposes of this Annex or the {{nyvmcsaprov|Other CSA}}, as applicable, the other party will be deemed to have received credit support of the applicable {{nyvmcsaprov|Fungible Credit Support Type}} in the amount that would otherwise have been required to be {{nyvmcsaprov|Transfer}}red, in each case on the day on which the relevant {{nyvmcsaprov|Transfer}} was due.<br>
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