Template:ISDA English Law Credit Support Annex 2016 5(a): Difference between revisions
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{{vmcsaprov|5(a)}} '''Transfer of Title'''. Each party agrees that all [[right, title and interest]] in and to any {{vmcsaprov|Eligible Credit Support (VM)}}, {{vmcsaprov|Equivalent Credit Support (VM)}}, {{vmcsaprov|Equivalent Distributions}} or {{vmcsaprov|Interest Payment (VM)}} which it transfers to the other party under the terms of this {{vmcsaprov|Annex}} will vest in the recipient free and clear of any [[lien]]s, claims, charges or [[encumbrance]]s or any other interest of the transferring party or of any third person (other than a [[lien]] routinely imposed on all securities in a relevant [[clearance system]]).<br> | {{vmcsaprov|5(a)}} '''{{vmcsaprov|Transfer of Title}}'''. Each party agrees that all [[right, title and interest]] in and to any {{vmcsaprov|Eligible Credit Support (VM)}}, {{vmcsaprov|Equivalent Credit Support (VM)}}, {{vmcsaprov|Equivalent Distributions}} or {{vmcsaprov|Interest Payment (VM)}} which it transfers to the other party under the terms of this {{vmcsaprov|Annex}} will vest in the recipient free and clear of any [[lien]]s, claims, charges or [[encumbrance]]s or any other interest of the transferring party or of any third person (other than a [[lien]] routinely imposed on all securities in a relevant [[clearance system]]).<br> | ||
Latest revision as of 02:06, 1 January 2020
5(a) Transfer of Title. Each party agrees that all right, title and interest in and to any Eligible Credit Support (VM), Equivalent Credit Support (VM), Equivalent Distributions or Interest Payment (VM) which it transfers to the other party under the terms of this Annex will vest in the recipient free and clear of any liens, claims, charges or encumbrances or any other interest of the transferring party or of any third person (other than a lien routinely imposed on all securities in a relevant clearance system).