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A reader writes in: | A reader writes in: | ||
“Dear Mr. Contrarian | :“Dear Mr. [[Jolly Contrarian|Contrarian]] | ||
I have taken a [[fixed charge]] over {{tag|collateral}} delivered by my [[counterparty]] to a [[custodian]] - say a [[Tri-party collateral arrangement|triparty agent]] — subject to a security interest. My [[counterparty]], however, is entitled to substitute that collateral with something else more or less automatically, provided it maintains a minimum required collateral value. | :I have taken a [[fixed charge]] over {{tag|collateral}} delivered by my [[counterparty]] to a [[custodian]] - say a [[Tri-party collateral arrangement|triparty agent]] — subject to a security interest. My [[counterparty]], however, is entitled to substitute that collateral with something else more or less automatically, provided it maintains a minimum required collateral value. | ||
Is my [[fixed charge]] good?” | Is my [[fixed charge]] good?” | ||