Template:ISDA English Law Credit Support Deed 2018 Value: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "“'''{{csaprov|Value}}'''” means, unless otherwise specified in Paragraph {{imcsdprov|13}}, for any {{imcsdprov|Calculation Date (IM)}} or other date for which {{csaprov|Va...") |
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::(B) a security, the {{imcsdprov|Base Currency Equivalent}} of the [[bid]] price obtained by the {{imcsdprov|Calculation Agent (IM)}} multiplied by (VP – HFX):<br> | ::(B) a security, the {{imcsdprov|Base Currency Equivalent}} of the [[bid]] price obtained by the {{imcsdprov|Calculation Agent (IM)}} multiplied by (VP – HFX):<br> | ||
::where:<br> | ::where:<br> | ||
::“VP” equals the applicable {{imcsd|Valuation Percentage}}; and <br> | :::“VP” equals the applicable {{imcsd|Valuation Percentage}}; and <br> | ||
::“HFX” equals the [[applicable]] {{imcsdprov|FX Haircut Percentage}},<br> | :::“HFX” equals the [[applicable]] {{imcsdprov|FX Haircut Percentage}},<br> | ||
:provided that, for the purposes of calculating {{csaprov|Value}} under Paragraph {{csaprov|11(a)}}, the VP will be 100% and HFX will be zero; and<br> | ::provided that, for the purposes of calculating {{csaprov|Value}} under Paragraph {{csaprov|11(a)}}, the VP will be 100% and HFX will be zero; and<br> | ||
:(ii) {{imcsdprov|Posted Credit Support (IM)}} that consists of items that are, in respect of the relevant posting obligation, deemed as of such date to have a {{csaprov|Value}} of zero pursuant to Paragraph {{imcsdprov|13}}, zero. <br> | :(ii) {{imcsdprov|Posted Credit Support (IM)}} that consists of items that are, in respect of the relevant posting obligation, deemed as of such date to have a {{csaprov|Value}} of zero pursuant to Paragraph {{imcsdprov|13}}, zero. <br> | ||
Revision as of 16:32, 20 April 2021
“Value” means, unless otherwise specified in Paragraph 13, for any Calculation Date (IM) or other date for which Value is calculated and subject to Paragraph 5 in the case of a dispute, with respect to:
- (i) save as provided in clause (ii) below, Eligible Credit Support (IM) comprised in the Posted Credit Support (IM):
- (A) an amount of Cash, the Base Currency Equivalent of such amount multiplied by (VP – HFX); and
- (B) a security, the Base Currency Equivalent of the bid price obtained by the Calculation Agent (IM) multiplied by (VP – HFX):
- where:
- “VP” equals the applicable 2018 English law IM CSD; and
- “HFX” equals the applicable FX Haircut Percentage,
- “VP” equals the applicable 2018 English law IM CSD; and
- provided that, for the purposes of calculating Value under Paragraph 11(a), the VP will be 100% and HFX will be zero; and
- (A) an amount of Cash, the Base Currency Equivalent of such amount multiplied by (VP – HFX); and
- (ii) Posted Credit Support (IM) that consists of items that are, in respect of the relevant posting obligation, deemed as of such date to have a Value of zero pursuant to Paragraph 13, zero.