Template:ISDA English Law Credit Support Deed 2018 4(b): Difference between revisions
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{{imcsdprov|4(b)}} '''{{ | {{imcsdprov|4(b)}} '''{{imcsdprov|Means of Transfer}}'''. All transfers under this {{imcsdprov|Deed}} of any {{imcsdprov|Eligible Credit Support (IM)}} or {{imcsdprov|Posted Credit Support (IM)}} shall be made in accordance with the instructions of the {{imcsdprov|Secured Party}}, {{imcsdprov|Chargor}} or {{imcsdprov|Custodian (IM)}}, as applicable, and shall be made: <br> | ||
:(i) in the case of {{imcsdprov|Eligible Credit Support (IM)}}, (A) by book-entry, wire or other transfer of such {{imcsdprov|Eligible Credit Support (IM)}} to the {{imcsdprov|Custodian (IM)}} (accompanied in the case of certificated securities that cannot be paid or delivered by book-entry by any duly executed instruments of transfer, assignments in blank, transfer tax stamps or any other documents necessary to permit the {{imcsdprov|Custodian (IM)}} to make legally valid transfers of such certificated securities upon instruction of the {{imcsdprov|Secured Party}}) and (B) the {{imcsdprov|Custodian (IM)}} ’s crediting such assets to the relevant {{imcsdprov|Segregated Account}}; and <br> | :(i) in the case of {{imcsdprov|Eligible Credit Support (IM)}}, (A) by book-entry, wire or other transfer of such {{imcsdprov|Eligible Credit Support (IM)}} to the {{imcsdprov|Custodian (IM)}} (accompanied in the case of certificated securities that cannot be paid or delivered by book-entry by any duly executed instruments of transfer, assignments in blank, transfer tax stamps or any other documents necessary to permit the {{imcsdprov|Custodian (IM)}} to make legally valid transfers of such certificated securities upon instruction of the {{imcsdprov|Secured Party}}) and (B) the {{imcsdprov|Custodian (IM)}} ’s crediting such assets to the relevant {{imcsdprov|Segregated Account}}; and <br> | ||
:(ii) in the case of {{imcsdprov|Posted Credit Support (IM)}}, by book-entry, wire or other transfer of such {{imcsdprov|Posted Credit Support (IM)}} by the {{imcsdprov|Custodian (IM)}} (or in the case of excess proceeds, the {{imcsdprov|Secured Party}}) to the relevant cash, securities or other account of the {{imcsdprov|Chargor}} (with the same {{imcsdprov|Custodian (IM)}} or elsewhere) identified by the {{imcsdprov|Chargor}} for the receipt of such transfer (accompanied in the case of certificated securities that cannot be paid or delivered by book-entry by any duly executed instruments of transfer, assignments in blank, transfer tax stamps or any other documents necessary to permit the {{imcsdprov|Chargor}} to make legally valid transfers of such certificated securities without further action of the {{imcsdprov|Custodian (IM)}}). <br> | :(ii) in the case of {{imcsdprov|Posted Credit Support (IM)}}, by book-entry, wire or other transfer of such {{imcsdprov|Posted Credit Support (IM)}} by the {{imcsdprov|Custodian (IM)}} (or in the case of excess proceeds, the {{imcsdprov|Secured Party}}) to the relevant cash, securities or other account of the {{imcsdprov|Chargor}} (with the same {{imcsdprov|Custodian (IM)}} or elsewhere) identified by the {{imcsdprov|Chargor}} for the receipt of such transfer (accompanied in the case of certificated securities that cannot be paid or delivered by book-entry by any duly executed instruments of transfer, assignments in blank, transfer tax stamps or any other documents necessary to permit the {{imcsdprov|Chargor}} to make legally valid transfers of such certificated securities without further action of the {{imcsdprov|Custodian (IM)}}). <br> | ||
Latest revision as of 09:02, 21 April 2021
4(b) Means of Transfer. All transfers under this Deed of any Eligible Credit Support (IM) or Posted Credit Support (IM) shall be made in accordance with the instructions of the Secured Party, Chargor or Custodian (IM), as applicable, and shall be made:
- (i) in the case of Eligible Credit Support (IM), (A) by book-entry, wire or other transfer of such Eligible Credit Support (IM) to the Custodian (IM) (accompanied in the case of certificated securities that cannot be paid or delivered by book-entry by any duly executed instruments of transfer, assignments in blank, transfer tax stamps or any other documents necessary to permit the Custodian (IM) to make legally valid transfers of such certificated securities upon instruction of the Secured Party) and (B) the Custodian (IM) ’s crediting such assets to the relevant Segregated Account; and
- (ii) in the case of Posted Credit Support (IM), by book-entry, wire or other transfer of such Posted Credit Support (IM) by the Custodian (IM) (or in the case of excess proceeds, the Secured Party) to the relevant cash, securities or other account of the Chargor (with the same Custodian (IM) or elsewhere) identified by the Chargor for the receipt of such transfer (accompanied in the case of certificated securities that cannot be paid or delivered by book-entry by any duly executed instruments of transfer, assignments in blank, transfer tax stamps or any other documents necessary to permit the Chargor to make legally valid transfers of such certificated securities without further action of the Custodian (IM)).