Talk:Expenses - NY CSA Provision

2018 Eng

Para 10. Expenses 10(a) General. Except as otherwise provided in Paragraph 10(c) below, each party will pay its own costs and expenses (including any stamp, transfer or similar transaction tax or duty payable on any transfer the Chargor is required to make under this Deed) in connection with performing its obligations under this Deed and neither party will be liable for any such costs and expenses incurred by the other party. The Chargor will be liable for any costs and expenses (including any stamp, transfer or similar transaction tax or duty payable on any transfer from the Segregated Accountto the Chargor in accordance with the terms of this Deed) incurred by the Custodian (IM) in connection with performing any of its obligations to the parties in relation to this Deed. 10(b) Posted Credit Support (IM). The Chargor will promptly pay when due all taxes, assessments or charges of any nature that are imposed with respect to Posted Credit Support (IM) credited to the Segregated Accounts upon becoming aware of the same. 10(c) Liquidation/Application of Posted Credit Support (IM). All reasonable costs and expenses incurred by or on behalf of the Secured Party in connection with the liquidation, appropriation and/or application of any Posted Credit Support (IM) under Paragraph 8 will be payable, on demand, by the Defaulting Party or, if there is no Defaulting Party, equally by the parties.