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Template:ISDA English Law Credit Support Annex 1995 Local Business Day: Difference between revisions
Template:ISDA English Law Credit Support Annex 1995 Local Business Day (view source)
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"'''{{csaprov|Local Business Day}}''' | "'''{{csaprov|Local Business Day}}'''”, unless otherwise specified in Paragraph {{csaprov|11(h)}}, means: | ||
:(i) in relation to a transfer of cash or other property (other than securities) under this Annex, a <br>day on which commercial banks are open for business (including dealings in foreign exchange and <br>foreign currency deposits) in the place where the relevant account is located and, if different, in the <br>principal financial centre, if any, of the currency of such payment; <br> | :(i) in relation to a transfer of cash or other property (other than securities) under this Annex, a <br>day on which commercial banks are open for business (including dealings in foreign exchange and <br>foreign currency deposits) in the place where the relevant account is located and, if different, in the <br>principal financial centre, if any, of the currency of such payment; <br> | ||
:(ii) in relation to a transfer of securities under this {{csaprov|Annex}}, a day on which the clearance system <br>agreed between the parties for delivery of the securities is open for the acceptance and execution of <br>settlement instructions or, if delivery of the securities is contemplated by other means, a day on <br>which commercial banks are open for business (including dealings in foreign exchange and foreign <br>currency deposits) in the place(s) agreed between the parties for this purpose; <br> | :(ii) in relation to a transfer of securities under this {{csaprov|Annex}}, a day on which the clearance system <br>agreed between the parties for delivery of the securities is open for the acceptance and execution of <br>settlement instructions or, if delivery of the securities is contemplated by other means, a day on <br>which commercial banks are open for business (including dealings in foreign exchange and foreign <br>currency deposits) in the place(s) agreed between the parties for this purpose; <br> | ||
:(iii) in relation to a valuation under this {{csaprov|Annex}}, a day on which commercial banks are open for <br>business (including dealings in foreign exchange and foreign currency deposits) in the place of <br>location of the {{csaprov|Valuation Agent}} and in the place(s) agreed between the parties for this purpose; and <br> | :(iii) in relation to a valuation under this {{csaprov|Annex}}, a day on which commercial banks are open for <br>business (including dealings in foreign exchange and foreign currency deposits) in the place of <br>location of the {{csaprov|Valuation Agent}} and in the place(s) agreed between the parties for this purpose; and <br> | ||
:(iv) in relation to any notice or other communication under this {{csaprov|Annex}}, a day on which <br>commercial banks are open for business (including dealings in foreign exchange and foreign <br>currency deposits) in the place specified in the address for notice most recently provided by the <br>recipient.<br> | :(iv) in relation to any notice or other communication under this {{csaprov|Annex}}, a day on which <br>commercial banks are open for business (including dealings in foreign exchange and foreign <br>currency deposits) in the place specified in the address for notice most recently provided by the <br>recipient.<br> | ||