Template:ISDA English Law Credit Support Annex 1995 3(a)

3(a) Transfers. All transfers under this Annex of any Eligible Credit Support, Equivalent Credit
Support, Interest Amount or Equivalent Distributions shall be made in accordance with the instructions of
the Transferee or Transferor, as applicable, and shall be made:

3(a)(i) in the case of cash, by transfer into one or more bank accounts specified by the recipient;

3(a)(ii) in the case of certificated securities which cannot or which the parties have agreed will not
be delivered by book-entry, by delivery in appropriate physical form to the recipient or its account
accompanied by any duly executed instruments of transfer, transfer tax stamps and any other
documents necessary to constitute a legally valid transfer of the transferring party's legal and
beneficial title to the recipient; and

3(a)(iii) in the case of securities which the parties have agreed will be delivered by book-entry, by
the giving of written instructions (including, for the avoidance of doubt, instructions given by telex,
facsimile transmission or electronic messaging system) to the relevant depository institution or
other entity specified by the recipient, together with a written copy of the instructions to the
recipient, sufficient, if complied with, to result in a legally effective transfer of the transferring
party's legal and beneficial title to the recipient.

Subject to Paragraph 4 and unless otherwise specified, if a demand for the transfer of Eligible Credit
Support or Equivalent Credit Support is received by the Notification Time, then the relevant transfer will
be made not later than the close of business on the Settlement Day relating to the date such demand is
received; if a demand is received after the Notification Time, then the relevant transfer will be made not
later than the close of business on the Settlement Day relating to the day after the date such demand is
received.