Template:ISDA English Law Credit Support Annex 1995 2(a): Difference between revisions
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{{csaprov|2(a)}} '''{{csaprov|Delivery Amount}}'''. Subject to Paragraphs {{csaprov|3}} and {{csaprov|4}}, upon a demand made by the {{csaprov|Transferee}} on or promptly following a {{csaprov|Valuation Date}}, if the {{csaprov|Delivery Amount}} for that {{csaprov|Valuation Date}} equals or exceeds the {{csaprov|Transferor}}'s {{csaprov|Minimum Transfer Amount}}, then the {{csaprov|Transferor}} will {{csaprov|transfer}} to the {{csaprov|Transferee}} {{csaprov|Eligible Credit Support}} having a {{csaprov|Value}} as of the date of {{csaprov|transfer}} at least equal to the applicable {{csaprov|Delivery Amount}} (rounded pursuant to Paragraph {{csaprov|11(b)(iii)(D)}}). Unless otherwise specified in Paragraph {{csaprov|11(b)}}, the “'''{{csaprov|Delivery Amount}}'''” applicable to the {{csaprov|Transferor}} for any {{csaprov|Valuation Date}} will equal the amount by which:<br>:(i) the {{csaprov|Credit Support Amount}}<br>:exceeds<br>:(ii) the {{csaprov|Value}} as of that {{csaprov|Valuation Date}} of the {{csaprov|Transferor}}'s {{csaprov|Credit Support Balance}} (adjusted to include any prior {{csaprov|Delivery Amount}} and to exclude any prior {{csaprov|Return Amount}}, the transfer of which, in either case, has not yet been completed and for which the relevant {{csaprov|Settlement Day}} falls on or after such {{csaprov|Valuation Date}}).<br> | {{csaprov|2(a)}} '''{{csaprov|Delivery Amount}}'''. Subject to Paragraphs {{csaprov|3}} and {{csaprov|4}}, upon a demand made by the {{csaprov|Transferee}} on or promptly following a {{csaprov|Valuation Date}}, if the {{csaprov|Delivery Amount}} for that {{csaprov|Valuation Date}} equals or exceeds the {{csaprov|Transferor}}'s {{csaprov|Minimum Transfer Amount}}, then the {{csaprov|Transferor}} will {{csaprov|transfer}} to the {{csaprov|Transferee}} {{csaprov|Eligible Credit Support}} having a {{csaprov|Value}} as of the date of {{csaprov|transfer}} at least equal to the applicable {{csaprov|Delivery Amount}} (rounded pursuant to Paragraph {{csaprov|11(b)(iii)(D)}}). Unless otherwise specified in Paragraph {{csaprov|11(b)}}, the “'''{{csaprov|Delivery Amount}}'''” applicable to the {{csaprov|Transferor}} for any {{csaprov|Valuation Date}} will equal the amount by which:<br> | ||
:(i) the {{csaprov|Credit Support Amount}}<br> | |||
:exceeds<br> | |||
:(ii) the {{csaprov|Value}} as of that {{csaprov|Valuation Date}} of the {{csaprov|Transferor}}'s {{csaprov|Credit Support Balance}} (adjusted to include any prior {{csaprov|Delivery Amount}} and to exclude any prior {{csaprov|Return Amount}}, the transfer of which, in either case, has not yet been completed and for which the relevant {{csaprov|Settlement Day}} falls on or after such {{csaprov|Valuation Date}}).<br> | |||
Revision as of 12:52, 30 November 2016
2(a) Delivery Amount. Subject to Paragraphs 3 and 4, upon a demand made by the Transferee on or promptly following a Valuation Date, if the Delivery Amount for that Valuation Date equals or exceeds the Transferor's Minimum Transfer Amount, then the Transferor will transfer to the Transferee Eligible Credit Support having a Value as of the date of transfer at least equal to the applicable Delivery Amount (rounded pursuant to Paragraph 11(b)(iii)(D)). Unless otherwise specified in Paragraph 11(b), the “Delivery Amount” applicable to the Transferor for any Valuation Date will equal the amount by which:
- (i) the Credit Support Amount
- exceeds
- (ii) the Value as of that Valuation Date of the Transferor's Credit Support Balance (adjusted to include any prior Delivery Amount and to exclude any prior Return Amount, the transfer of which, in either case, has not yet been completed and for which the relevant Settlement Day falls on or after such Valuation Date).