Template:Nutshell 2016 CSA 5(c)(ii)(A): Difference between revisions
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Amwelladmin (talk | contribs) Created page with "::{{vmcsaprov|5(c)(ii)(A)}} if “'''{{vmcsaprov|Interest Transfer}}'''” applies the {{vmcsaprov|Interest Payer (VM)}} will transfer an {{vmcsaprov|Interest Payment (VM)}} t..." |
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::{{vmcsaprov|5(c)(ii)(A)}} if “'''{{vmcsaprov|Interest Transfer}}'''” applies the {{vmcsaprov|Interest Payer (VM)}} | ::{{vmcsaprov|5(c)(ii)(A)}} if “'''{{vmcsaprov|Interest Transfer}}'''” applies the {{vmcsaprov|Interest Payer (VM)}} must transfer an {{vmcsaprov|Interest Payment (VM)}} to the {{vmcsaprov|Interest Payer (VM)}}, as required under Paragraph {{vmcsaprov|11(g)(ii)}} and on any {{isdaprov|Early Termination Date}} provided that if “{{vmcsaprov|Interest Payment Netting}}” applies: | ||
:::(I) if the {{vmcsaprov|Interest Payer (VM)}} is due a | :::(I) if the {{vmcsaprov|Interest Payer (VM)}} is due a payment under the [[VM CSA]] on the same date: | ||
::::(a) it will be reduced by the {{vmcsaprov|Interest Payment (VM)}} (but not below zero), provided that | ::::(a) it will be reduced by the {{vmcsaprov|Interest Payment (VM)}} (but not below zero), provided that for a {{vmcsaprov|Return Amount (VM)}}, the deduction will only apply to the extent of any {{vmcsaprov|Base Currency}} cash portion of the {{vmcsaprov|Credit Support Balance (VM)}}; and | ||
::::(b) the {{vmcsaprov|Interest Payer (VM)}} | ::::(b) after any such reduction the {{vmcsaprov|Interest Payer (VM)}} must transfer the remaining {{vmcsaprov|Interest Payment (VM)}} to the {{vmcsaprov|Transferee}}; | ||
:::(II) | :::(II) following such a reduction, when working out the {{vmcsaprov|Credit Support Balance (VM)}}, the {{vmcsaprov|Transferee}} will be deemed to have received or transferred the {{vmcsaprov|Base Currency}} cash equivalent of the reduced amount, on the due date for the {{vmcsaprov|Interest Payment (VM)}}; and <br> |