Template:ISDA English Law Credit Support Deed 2018 3(b): Difference between revisions
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Amwelladmin (talk | contribs) Created page with "{{imcsdprov|3(b)}} {{imcsdprov|Return Amount (IM)}}. Subject to Paragraphs {{imcsdprov|4}} and {{imcsdprov|5}}, upon a demand made by the {{imcsdprov|Chargor}} on or promptly..." |
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{{imcsdprov|3(b)}} {{imcsdprov|Return Amount (IM)}}. Subject to Paragraphs {{imcsdprov|4}} and {{imcsdprov|5}}, upon a demand made by the {{imcsdprov|Chargor}} on or promptly following a {{imcsdprov|Calculation Date (IM)}}, if the {{imcsdprov|Return Amount (IM)}} applicable to the {{imcsdprov|Secured Party}} for that {{imcsdprov|Calculation Date (IM)}} equals or exceeds the {{imcsdprov|Secured Party}}’s {{imcsdprov|Minimum Transfer Amount (IM)}}, then the {{imcsdprov|Secured Party}} will instruct the Custodian (IM) to transfer to the {{imcsdprov|Chargor}} {{imcsdprov|Posted Credit Support (IM)}} specified by the {{imcsdprov|Chargor}} in that demand having a {{imcsdprov|Value}} as of the date of transfer as close as practicable to (but not more than) the applicable {{imcsdprov|Return Amount (IM)}} (rounded pursuant to Paragraph {{imcsdprov|13}}). Unless otherwise specified in Paragraph {{imcsdprov|13}}, the “{{imcsdprov|Return Amount (IM)}}” applicable to the {{imcsdprov|Secured Party}} for any {{imcsdprov|Calculation Date (IM)}} will equal the amount by which: <br> | {{imcsdprov|3(b)}} '''{{imcsdprov|Return Amount (IM)}}'''. Subject to Paragraphs {{imcsdprov|4}} and {{imcsdprov|5}}, upon a demand made by the {{imcsdprov|Chargor}} on or promptly following a {{imcsdprov|Calculation Date (IM)}}, if the {{imcsdprov|Return Amount (IM)}} applicable to the {{imcsdprov|Secured Party}} for that {{imcsdprov|Calculation Date (IM)}} equals or exceeds the {{imcsdprov|Secured Party}}’s {{imcsdprov|Minimum Transfer Amount (IM)}}, then the {{imcsdprov|Secured Party}} will instruct the Custodian (IM) to transfer to the {{imcsdprov|Chargor}} {{imcsdprov|Posted Credit Support (IM)}} specified by the {{imcsdprov|Chargor}} in that demand having a {{imcsdprov|Value}} as of the date of transfer as close as practicable to (but not more than) the applicable {{imcsdprov|Return Amount (IM)}} (rounded pursuant to Paragraph {{imcsdprov|13}}). Unless otherwise specified in Paragraph {{imcsdprov|13}}, the “{{imcsdprov|Return Amount (IM)}}” applicable to the {{imcsdprov|Secured Party}} for any {{imcsdprov|Calculation Date (IM)}} will equal the amount by which: <br> | ||
:(i) the {{imcsdprov|Value}} as of that {{imcsdprov|Calculation Date (IM)}} of all {{imcsdprov|Posted Credit Support (IM)}} held by the {{imcsdprov|Secured Party}} (as adjusted to include any prior {{imcsdprov|Delivery Amount (IM)}} and to exclude any prior {{imcsdprov|Return Amount (IM)}}, the transfer of which, in either case, has not yet been completed and for which the relevant {{imcsdprov|Regular Settlement Day}} falls on or prior to such {{imcsdprov|Calculation Date (IM)}}) <br> | :(i) the {{imcsdprov|Value}} as of that {{imcsdprov|Calculation Date (IM)}} of all {{imcsdprov|Posted Credit Support (IM)}} held by the {{imcsdprov|Secured Party}} (as adjusted to include any prior {{imcsdprov|Delivery Amount (IM)}} and to exclude any prior {{imcsdprov|Return Amount (IM)}}, the transfer of which, in either case, has not yet been completed and for which the relevant {{imcsdprov|Regular Settlement Day}} falls on or prior to such {{imcsdprov|Calculation Date (IM)}}) <br> | ||
:exceeds | :exceeds | ||
:(ii) the {{imcsdprov|Credit Support Amount (IM)}} applicable to the {{imcsdprov|Chargor}}. <br> | :(ii) the {{imcsdprov|Credit Support Amount (IM)}} applicable to the {{imcsdprov|Chargor}}. <br> | ||
Latest revision as of 11:13, 5 March 2021
3(b) Return Amount (IM). Subject to Paragraphs 4 and 5, upon a demand made by the Chargor on or promptly following a Calculation Date (IM), if the Return Amount (IM) applicable to the Secured Party for that Calculation Date (IM) equals or exceeds the Secured Party’s Minimum Transfer Amount (IM), then the Secured Party will instruct the Custodian (IM) to transfer to the Chargor Posted Credit Support (IM) specified by the Chargor in that demand having a Value as of the date of transfer as close as practicable to (but not more than) the applicable Return Amount (IM) (rounded pursuant to Paragraph 13). Unless otherwise specified in Paragraph 13, the “Return Amount (IM)” applicable to the Secured Party for any Calculation Date (IM) will equal the amount by which:
- (i) the Value as of that Calculation Date (IM) of all Posted Credit Support (IM) held by the Secured Party (as adjusted to include any prior Delivery Amount (IM) and to exclude any prior Return Amount (IM), the transfer of which, in either case, has not yet been completed and for which the relevant Regular Settlement Day falls on or prior to such Calculation Date (IM))
- exceeds
- (ii) the Credit Support Amount (IM) applicable to the Chargor.