Template:Nutshell 2018 CSD 3(a): Difference between revisions

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Created page with "{{imcsdprov|3(b)}} '''{{imcsdprov|Return Amount (IM)}}'''. Subject to Paragraphs {{imcsdprov|4}} and {{imcsdprov|5}}, upon the {{imcsdprov|Secured Party}}’s demand following..."
 
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{{imcsdprov|3(b)}} '''{{imcsdprov|Return Amount (IM)}}'''. Subject to Paragraphs {{imcsdprov|4}} and {{imcsdprov|5}}, upon the {{imcsdprov|Secured Party}}’s demand following a {{imcsdprov|Calculation Date (IM)}}, if a {{imcsdprov|Chargor}}’s {{imcsdprov|Delivery Amount (IM)}} is at least equal to its {{imcsdprov|Minimum Transfer Amount (IM)}}, it must transfer to the {{imcsdprov|Custodian (IM)}} {{imcsdprov|Eligible Credit Support (IM)}} having a {{imcsdprov|Value}} equal to the (rounded) {{imcsdprov|Delivery Amount (IM)}}. The “'''{{imcsdprov|Delivery Amount (IM)}}'''” for any {{imcsdprov|Calculation Date (IM)}} will equal the amount by which: <br>
{{imcsdprov|3(a)}} '''{{imcsdprov|Delivery Amount (IM)}}'''. Subject to Paragraphs {{imcsdprov|4}} and {{imcsdprov|5}}, upon a {{imcsdprov|Secured Party}}’s valid demand, if the {{imcsdprov|Chargor}}’s {{imcsdprov|Delivery Amount (IM)}} meets its {{imcsdprov|Minimum Transfer Amount (IM)}}, it must transfer to the {{imcsdprov|Custodian (IM)}} {{imcsdprov|Eligible Credit Support (IM)}} then equal in value to the {{imcsdprov|Delivery Amount (IM)}}. The “{{imcsdprov|Delivery Amount (IM)}}” will be the amount by which the {{imcsdprov|Chargor}}’s {{imcsdprov|Credit Support Amount (IM)}} exceeds the prevailing {{imcsdprov|Value}} of all {{imcsdprov|Posted Credit Support (IM)}} held by the {{imcsdprov|Secured Party}} (adjusted to include for any due but un-settled {{imcsdprov|Delivery Amount (IM)}} or {{imcsdprov|Return Amount (IM)}} as of the {{imcsdprov|Calculation Date (IM)}}). <br>
:(i) the {{imcsdprov|Chargor}}’s {{imcsdprov|Credit Support Amount (IM)}} <br>
:exceeds
:(ii) the prevailing {{imcsdprov|Value}} of all {{imcsdprov|Posted Credit Support (IM)}} the {{imcsdprov|Secured Party}} holds (treating pending but unsettled {{imcsdprov|Delivery Amount (IM)}}s and {{imcsdprov|Return Amount (IM)}}s as not having been made).<br>

Latest revision as of 08:30, 16 April 2021

3(a) Delivery Amount (IM). Subject to Paragraphs 4 and 5, upon a Secured Party’s valid demand, if the Chargor’s Delivery Amount (IM) meets its Minimum Transfer Amount (IM), it must transfer to the Custodian (IM) Eligible Credit Support (IM) then equal in value to the Delivery Amount (IM). The “Delivery Amount (IM)” will be the amount by which the Chargor’s Credit Support Amount (IM) exceeds the prevailing Value of all Posted Credit Support (IM) held by the Secured Party (adjusted to include for any due but un-settled Delivery Amount (IM) or Return Amount (IM) as of the Calculation Date (IM)).

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