Template:Nutshell 2016 NY CSA 10: Difference between revisions
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Latest revision as of 13:04, 16 January 2020
10. Expenses
10(a) General. Each party will be liable for its own costs of performing its obligations under this Annex.
10(b) Posted Credit Support (VM). When it finds out about them the Pledgor must promptly pay any taxes imposed on Posted Credit Support (VM) while the Secured Party actually holds it in custody, even if the Secured Party later reuses it under Paragraph 6(c). This obligation doesn’t extend to taxes arising from the act of reuse under Paragraph 6(c).
10(c) Liquidation/Application of Posted Credit Support (VM). Where there is a Defaulting Party it must pay on demand all the the Non-defaulting Party’s reasonable costs of liquidating any Posted Credit Support (VM) under Paragraph 8 as set out in the Expenses Section of the ISDA Master Agreement. If there is no Defaulting Party, the parties will share the costs.