Template:Nutshell 2018 CSD 3(a): Difference between revisions

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{{imcsdprov|3(a)}} '''{{imcsdprov|Delivery Amount (IM)}}'''. Subject to Paragraphs 4 and 5, upon a demand made by the {{imcsdprov|Secured Party}} on or promptly following a {{imcsdprov|Calculation Date (IM)}}, if the {{imcsdprov|Delivery Amount (IM)}} applicable to the {{imcsdprov|Chargor}} for that {{imcsdprov|Calculation Date (IM)}} equals or exceeds the {{imcsdprov|Chargor}}’s {{imcsdprov|Minimum Transfer Amount (IM)}}, then the {{imcsdprov|Chargor}} will transfer to the Custodian (IM) {{imcsdprov|Eligible Credit Support (IM)}} having a {{imcsdprov|Value}} as of the date of transfer at least equal to the applicable {{imcsdprov|Delivery Amount (IM)}} (rounded pursuant to Paragraph {{imcsdprov|13}}). Unless otherwise specified in Paragraph {{imcsdprov|13}}, the “{{imcsdprov|Delivery Amount (IM)}}” applicable to the {{imcsdprov|Chargor}} for any {{imcsdprov|Calculation Date (IM)}} will equal the amount by which: <br>
{{imcsdprov|3(a)}} '''{{imcsdprov|Delivery Amount (IM)}}'''. Subject to Paragraphs {{imcsdprov|4}} and {{imcsdprov|5}}, upon a {{imcsdprov|Secured Party}}’s valid demand, if the {{imcsdprov|Chargor}}’s {{imcsdprov|Delivery Amount (IM)}} meets its {{imcsdprov|Minimum Transfer Amount (IM)}}, it must transfer to the {{imcsdprov|Custodian (IM)}} {{imcsdprov|Eligible Credit Support (IM)}} then equal in value to the {{imcsdprov|Delivery Amount (IM)}}. The “{{imcsdprov|Delivery Amount (IM)}}” will be the amount by which the {{imcsdprov|Chargor}}’s {{imcsdprov|Credit Support Amount (IM)}} exceeds the prevailing {{imcsdprov|Value}} of all {{imcsdprov|Posted Credit Support (IM)}} held by the {{imcsdprov|Secured Party}} (adjusted to include for any due but un-settled {{imcsdprov|Delivery Amount (IM)}} or {{imcsdprov|Return Amount (IM)}} as of the {{imcsdprov|Calculation Date (IM)}}). <br>
:(i) the {{imcsdprov|Credit Support Amount (IM)}} applicable to the {{imcsdprov|Chargor}} <br>
:exceeds <br>
:(ii) the {{imcsdprov|Value}} as of that {{imcsdprov|Calculation Date (IM)}} of all {{imcsdprov|Posted Credit Support (IM)}} held by the {{imcsdprov|Secured Party}} (as adjusted to include any prior {{imcsdprov|Delivery Amount (IM)}} and to exclude any prior {{imcsdprov|Return Amount (IM)}}, the transfer of which, in either case, has not yet been completed and for which the relevant {{imcsdprov|Regular Settlement Day}} falls on or prior to such {{imcsdprov|Calculation Date (IM)}}). <br>

Latest revision as of 08:30, 16 April 2021

3(a) Delivery Amount (IM). Subject to Paragraphs 4 and 5, upon a Secured Party’s valid demand, if the Chargor’s Delivery Amount (IM) meets its Minimum Transfer Amount (IM), it must transfer to the Custodian (IM) Eligible Credit Support (IM) then equal in value to the Delivery Amount (IM). The “Delivery Amount (IM)” will be the amount by which the Chargor’s Credit Support Amount (IM) exceeds the prevailing Value of all Posted Credit Support (IM) held by the Secured Party (adjusted to include for any due but un-settled Delivery Amount (IM) or Return Amount (IM) as of the Calculation Date (IM)).

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