Template:ISDA Master Agreement 1992 10: Difference between revisions

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{{isdaprov|10}}. '''{{isdaprov|Offices}}; {{isdaprov|Multibranch Parties}}'''  
{{isda92prov|10}}. '''{{isda92prov|Offices; Multibranch Parties}}'''  
:{{isdaprov|10(a)}} If Section {{isdaprov|10(a)}} is specified in the {{isdaprov|Schedule}} as applying, each party that enters into a {{isdaprov|Transaction}} through an {{isdaprov|Office}} other than its head or home office represents to the other party that, notwithstanding the place of booking office or jurisdiction of incorporation or organisation of such party, the obligations of such party are the same as if it had entered into the {{isdaprov|Transaction}} through its head or home office. This representation will be deemed to be repeated by such party on each date on which a {{isdaprov|Transaction}} is entered into.  
:{{isda92prov|10(a)}} If Section {{isda92prov|10(a)}} is specified in the {{isda92prov|Schedule}} as applying, each party that enters into a {{isda92prov|Transaction}} through an {{isda92prov|Office}} other than its head or home office represents to the other party that, notwithstanding the place of booking office or jurisdiction of incorporation or organisation of such party, the obligations of such party are the same as if it had entered into the {{isda92prov|Transaction}} through its head or home office. This representation will be deemed to be repeated by such party on each date on which a {{isda92prov|Transaction}} is entered into.  
:{{isdaprov|10(b)}} Neither party may change the {{isdaprov|Office}} through which it makes and receives payments or deliveries for the purpose of a {{isdaprov|Transaction}} without the prior written consent of the other party.  
:{{isda92prov|10(b)}} Neither party may change the {{isda92prov|Office}} through which it makes and receives payments or deliveries for the purpose of a {{isda92prov|Transaction}} without the prior written consent of the other party.  
:{{isdaprov|10(c)}} If a party is specified as a {{isdaprov|Multibranch Party}} in the Schedule, such {{isdaprov|Multibranch Party}} may make and receive payments or deliveries under any {{isdaprov|Transaction}} through any {{isdaprov|Office}} listed in the {{isdaprov|Schedule}}, and the {{isdaprov|Office}} through which it makes and receives payments or deliveries with respect to a {{isdaprov|Transaction}} will be specified in the relevant {{isdaprov|Confirmation}}.<br>
:{{isda92prov|10(c)}} If a party is specified as a {{isda92prov|Multibranch Party}} in the Schedule, such {{isda92prov|Multibranch Party}} may make and receive payments or deliveries under any {{isda92prov|Transaction}} through any {{isda92prov|Office}} listed in the {{isda92prov|Schedule}}, and the {{isda92prov|Office}} through which it makes and receives payments or deliveries with respect to a {{isda92prov|Transaction}} will be specified in the relevant {{isda92prov|Confirmation}}.<br>

Latest revision as of 17:58, 15 April 2020

10. Offices; Multibranch Parties

10(a) If Section 10(a) is specified in the Schedule as applying, each party that enters into a Transaction through an Office other than its head or home office represents to the other party that, notwithstanding the place of booking office or jurisdiction of incorporation or organisation of such party, the obligations of such party are the same as if it had entered into the Transaction through its head or home office. This representation will be deemed to be repeated by such party on each date on which a Transaction is entered into.
10(b) Neither party may change the Office through which it makes and receives payments or deliveries for the purpose of a Transaction without the prior written consent of the other party.
10(c) If a party is specified as a Multibranch Party in the Schedule, such Multibranch Party may make and receive payments or deliveries under any Transaction through any Office listed in the Schedule, and the Office through which it makes and receives payments or deliveries with respect to a Transaction will be specified in the relevant Confirmation.
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