Template:Nutshell 2018 CSD 4(c): Difference between revisions
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Amwelladmin (talk | contribs) Created page with "{{imcsdprov|4(c)}} '''{{imcsdprov|Transfer Timing}}'''. Subject to Paragraph {{imcsdprov|4(a)}} and {{imcsdprov|5}}: :(i) '''{{imcsdprov|Secured Party}}''': if a {{imcsdprov|S..." |
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{{imcsdprov|4(c)}} '''{{imcsdprov|Transfer Timing}}'''. Subject to Paragraph {{imcsdprov|4(a)}} and {{imcsdprov|5}}: | {{imcsdprov|4(c)}} '''{{imcsdprov|Transfer Timing}}'''. Subject to Paragraph {{imcsdprov|4(a)}} and {{imcsdprov|5}}: | ||
:(i) '''{{imcsdprov|Secured Party}}''': if a {{imcsdprov|Secured Party}} demands {{imcsdprov|Eligible Credit Support (IM)}}: | :(i) '''{{imcsdprov|Secured Party}}''': if a {{imcsdprov|Secured Party}} demands {{imcsdprov|Eligible Credit Support (IM)}}: | ||
::''by'' the {{imcsdprov|Notification Time}}, then the {{imcsdprov|Chargor}} must transfer it by the close of business on the | ::''by'' the {{imcsdprov|Notification Time}}, then the {{imcsdprov|Chargor}} must transfer it by the close of business ''on'' the {{imcsdprov|Regular Settlement Day}}; | ||
::''after'' the {{imcsdprov|Notification Time}}, then the {{imcsdprov|Chargor}} must transfer it by the close of business on the {{imcsdprov|Local Business Day}} | ::''after'' the {{imcsdprov|Notification Time}}, then the {{imcsdprov|Chargor}} must transfer it by the close of business ''on the {{imcsdprov|Local Business Day}} after'' the {{imcsdprov|Regular Settlement Day}}; <br> | ||
:(ii) '''{{imcsdprov|Chargor}}''': if a {{imcsdprov|Chargor}} demands {{imcsdprov|Posted Credit Support (IM)}}: | :(ii) '''{{imcsdprov|Chargor}}''': if a {{imcsdprov|Chargor}} demands {{imcsdprov|Posted Credit Support (IM)}}: | ||
::''by'' the {{imcsdprov|Notification Time}}, then the {{imcsdprov|Secured Party}} must instruct the {{imcsdprov|Custodian (IM)}} by the instructions deadline in the {{imcsdprov|Control Agreement}} for it to transfer {{imcsdprov|Posted Credit Support (IM)}} by close of business ''on'' the | ::''by'' the {{imcsdprov|Notification Time}}, then the {{imcsdprov|Secured Party}} must instruct the {{imcsdprov|Custodian (IM)}} by the instructions deadline in the {{imcsdprov|Control Agreement}} for it to transfer {{imcsdprov|Posted Credit Support (IM)}} by close of business ''on'' the {{imcsdprov|Regular Settlement Day}}; | ||
::''after'' the {{imcsdprov|Notification Time}}, then the {{imcsdprov|Secured Party}} must instruct the {{imcsdprov|Custodian (IM)}} by the instructions deadline in the {{imcsdprov|Control Agreement}} for it to transfer {{imcsdprov|Posted Credit Support (IM)}} by close of business ''on the {{imcsdprov|Local Business Day}} after'' the | ::''after'' the {{imcsdprov|Notification Time}}, then the {{imcsdprov|Secured Party}} must instruct the {{imcsdprov|Custodian (IM)}} by the instructions deadline in the {{imcsdprov|Control Agreement}} for it to transfer {{imcsdprov|Posted Credit Support (IM)}} by close of business ''on the {{imcsdprov|Local Business Day}} after'' the {{imcsdprov|Regular Settlement Day}}. <br> | ||
Latest revision as of 15:48, 20 April 2021
4(c) Transfer Timing. Subject to Paragraph 4(a) and 5:
- (i) Secured Party: if a Secured Party demands Eligible Credit Support (IM):
- by the Notification Time, then the Chargor must transfer it by the close of business on the Regular Settlement Day;
- after the Notification Time, then the Chargor must transfer it by the close of business on the Local Business Day after the Regular Settlement Day;
- (ii) Chargor: if a Chargor demands Posted Credit Support (IM):
- by the Notification Time, then the Secured Party must instruct the Custodian (IM) by the instructions deadline in the Control Agreement for it to transfer Posted Credit Support (IM) by close of business on the Regular Settlement Day;
- after the Notification Time, then the Secured Party must instruct the Custodian (IM) by the instructions deadline in the Control Agreement for it to transfer Posted Credit Support (IM) by close of business on the Local Business Day after the Regular Settlement Day.