Test: Difference between revisions

Revision as of 15:42, 9 May 2024

NY VM CSA

8(c) Deficiencies and Excess Proceeds. The Secured Party will Transfer to the Pledgor any proceeds and Posted Credit Support (VM) remaining after liquidation, Set-off and/or application under Paragraphs 8(a) and 8(b) after satisfaction in full of all amounts payable by the Pledgor with respect to any Obligations; and the Pledgor in all events will remain liable for any amounts remaining unpaid after any liquidation, Set-off and/or application under 8(a) and 8(b).

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-IMCSD
+NY VM CSA
-(c) Deficiencies and Excess Proceeds.
+(c) Deficiencies and Excess Proceeds. The Secured Party will Transfer to the Pledgor any proceeds and Posted Credit Support (VM) remaining after liquidation, Set-off and/or application under Paragraphs 8(a) and 8(b) after satisfaction in full of all amounts payable by the Pledgor with respect to any Obligations; and the Pledgor in all events will remain liable for any amounts remaining unpaid after any liquidation, Set-off and/or application under 8(a) and 8(b).
-(i) A party will remain liable for all Obligations of such party remaining unsatisfied after the exercise of rights and remedies by the other party (the “Exercising Party”) under Paragraph 8(a) or 8(b) above.
-(ii) Following the exercise of such rights and remedies, the Exercising Party will, as the Secured Party, transfer or instruct the Custodian (IM) to transfer to the other party any proceeds and Posted Credit Support (IM) remaining after satisfaction in full of all payment and delivery Obligations of such other party, including (if applicable) the transfer and release to the Exercising Party by such other party, in its capacity as the Secured Party, of all Posted Credit Support (IM) hereunder and the return of any other amounts and items posted by the Exercising Party to such other party as credit support under any Other CSA.

Test: Difference between revisions

Revision as of 15:42, 9 May 2024

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