Template:ISDA English Law Credit Support Deed 2018 4(c): Difference between revisions
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(c) {{ | {{imcsdprov|4(c)}} '''{{imcsdprov|Transfer Timing}}'''. Subject to Paragraph {{imcsdprov|4(a)}} above (if [[applicable]]) and Paragraph {{imcsdprov|5}} and unless otherwise specified in Paragraph {{imcsdprov|13}}, if a demand for the transfer of {{imcsdprov|Eligible Credit Support (IM)}} is made by the {{imcsdprov|Notification Time}}, then the relevant transfer by the {{imcsdprov|Chargor}} will be made not later than the close of business on the relevant {{imcsdprov|Regular Settlement Day}}; if a demand is made after the {{imcsdprov|Notification Time}}, then the relevant transfer by the {{imcsdprov|Chargor}} will be made not later than the close of business on the next {{imcsdprov|Local Business Day}} following the relevant {{imcsdprov|Regular Settlement Day}}. <br> | ||
Subject to Paragraph {{ | Subject to Paragraph {{imcsdprov|4(a)}} above (if [[applicable]]) and Paragraph {{imcsdprov|5}} and unless otherwise specified in Paragraph {{imcsdprov|13}}, if a demand for the transfer of {{imcsdprov|Posted Credit Support (IM)}} is made by the {{imcsdprov|Notification Time}}, then the relevant instruction by the {{imcsdprov|Secured Party}} to the {{imcsdprov|Custodian (IM)}} will be served prior to the latest time by which instructions must be submitted to the {{imcsdprov|Custodian (IM)}} under the relevant {{imcsdprov|Control Agreement}} in order for the {{imcsdprov|Custodian (IM)}} to effect the transfer of {{imcsdprov|Posted Credit Support (IM)}} by close of business on the relevant {{imcsdprov|Regular Settlement Day}}; if a demand is made after the {{imcsdprov|Notification Time}}, then the relevant instruction by the {{imcsdprov|Secured Party}} to the {{imcsdprov|Custodian (IM)}} will be served not later than the latest time (and day) by which instructions must be submitted to the {{imcsdprov|Custodian (IM)}} under the relevant {{imcsdprov|Control Agreement}} in order for the {{imcsdprov|Custodian (IM)}} to effect the transfer of {{imcsdprov|Posted Credit Support (IM)}} by close of business on the next {{imcsdprov|Local Business Day}} following the relevant {{imcsdprov|Regular Settlement Day}}. <br> | ||
Latest revision as of 15:21, 20 April 2021
4(c) Transfer Timing. Subject to Paragraph 4(a) above (if applicable) and Paragraph 5 and unless otherwise specified in Paragraph 13, if a demand for the transfer of Eligible Credit Support (IM) is made by the Notification Time, then the relevant transfer by the Chargor will be made not later than the close of business on the relevant Regular Settlement Day; if a demand is made after the Notification Time, then the relevant transfer by the Chargor will be made not later than the close of business on the next Local Business Day following the relevant Regular Settlement Day.
Subject to Paragraph 4(a) above (if applicable) and Paragraph 5 and unless otherwise specified in Paragraph 13, if a demand for the transfer of Posted Credit Support (IM) is made by the Notification Time, then the relevant instruction by the Secured Party to the Custodian (IM) will be served prior to the latest time by which instructions must be submitted to the Custodian (IM) under the relevant Control Agreement in order for the Custodian (IM) to effect the transfer of Posted Credit Support (IM) by close of business on the relevant Regular Settlement Day; if a demand is made after the Notification Time, then the relevant instruction by the Secured Party to the Custodian (IM) will be served not later than the latest time (and day) by which instructions must be submitted to the Custodian (IM) under the relevant Control Agreement in order for the Custodian (IM) to effect the transfer of Posted Credit Support (IM) by close of business on the next Local Business Day following the relevant Regular Settlement Day.