Template:ISDA English Law Credit Support Annex 1995 2(b): Difference between revisions

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{{csaprov|2(b)}} {{csaprov|Return Amount}}. Subject to Paragraphs {{csaprov|3}} and {{csaprov|4}}, upon a demand made by the {{csaprov|Transferor}} on or <br>promptly following a {{csaprov|Valuation Date}}, if the {{csaprov|Return Amount}} for that {{csaprov|Valuation Date}} equals or exceeds the <br>{{csaprov|Transferee}}'s {{csaprov|Minimum Transfer Amount}}, then the {{csaprov|Transferee}} will transfer to the {{csaprov|Transferor}} [[Equivalent Credit Support - CSA Provision|Equivalent]] <br>[[Equivalent Credit Support - CSA Provision|Credit Support]] specified by the {{csaprov|Transferor}} in that demand having a {{csaprov|Value}} as of the date of transfer as close <br>as practicable to the applicable {{csaprov|Return Amount}} (rounded pursuant to Paragraph {{csaprov|11(b)(iii)(D)}}) and the <br>{{csaprov|Credit Support Balance}} will, upon such transfer, be reduced accordingly. Unless otherwise specified in <br>Paragraph {{csaprov|11(b)}}, the “{{csaprov|Return Amount}}” applicable to the {{csaprov|Transferee}} for any {{csaprov|Valuation Date}} will equal the
{{csaprov|2(b)}} '''{{csaprov|Return Amount}}'''. Subject to Paragraphs {{csaprov|3}} and {{csaprov|4}}, upon a demand made by the {{csaprov|Transferor}} on or promptly following a {{csaprov|Valuation Date}}, if the {{csaprov|Return Amount}} for that {{csaprov|Valuation Date}} equals or exceeds the {{csaprov|Transferee}}’s {{csaprov|Minimum Transfer Amount}}, then the {{csaprov|Transferee}} will transfer to the {{csaprov|Transferor}} {{csaprov|Equivalent Credit Support}} specified by the {{csaprov|Transferor}} in that demand having a {{csaprov|Value}} as of the date of transfer as close as practicable to the applicable {{csaprov|Return Amount}} (rounded pursuant to Paragraph {{csaprov|11(b)(iii)(D)}}) and the {{csaprov|Credit Support Balance}} will, upon such transfer, be reduced accordingly. Unless otherwise specified in Paragraph {{csaprov|11(b)}}, the “{{csaprov|Return Amount}}” applicable to the {{csaprov|Transferee}} for any {{csaprov|Valuation Date}} will equal the amount by which:
amount by which:<br>
:(i) the {{csaprov|Value}} as of that {{csaprov|Valuation Date}} of the {{csaprov|Transferor}}’s {{csaprov|Credit Support Balance}} (adjusted to include any prior {{csaprov|Delivery Amount}} and to exclude any prior {{csaprov|Return Amount}}, the transfer of which, in either case, has not yet been completed and for which the relevant Settlement Day falls on or after such {{csaprov|Valuation Date}})
:(i) the {{csaprov|Value}} as of that {{csaprov|Valuation Date}} of the {{csaprov|Transferor}}'s {{csaprov|Credit Support Balance}} (adjusted <br>to include any prior {{csaprov|Delivery Amount}} and to exclude any prior {{csaprov|Return Amount}}, the transfer of <br>which, in either case, has not yet been completed and for which the relevant Settlement Day falls on <br>or after such {{csaprov|Valuation Date}})<br>
:exceeds
:exceeds<br>
:(ii) the {{csaprov|Credit Support Amount}}.
:(ii) the {{csaprov|Credit Support Amount}}.<br>

Latest revision as of 16:44, 21 June 2018

2(b) Return Amount. Subject to Paragraphs 3 and 4, upon a demand made by the Transferor on or promptly following a Valuation Date, if the Return Amount for that Valuation Date equals or exceeds the Transferee’s Minimum Transfer Amount, then the Transferee will transfer to the Transferor Equivalent Credit Support specified by the Transferor in that demand having a Value as of the date of transfer as close as practicable to the applicable Return Amount (rounded pursuant to Paragraph 11(b)(iii)(D)) and the Credit Support Balance will, upon such transfer, be reduced accordingly. Unless otherwise specified in Paragraph 11(b), the “Return Amount” applicable to the Transferee for any Valuation Date will equal the amount by which:

(i) the Value as of that Valuation Date of the Transferor’s Credit Support Balance (adjusted to include any prior Delivery Amount and to exclude any prior Return Amount, the transfer of which, in either case, has not yet been completed and for which the relevant Settlement Day falls on or after such Valuation Date)
exceeds
(ii) the Credit Support Amount.
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