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{{oldnycsaanat|3(a)}}
'''[[Anatomy|Anatomies]]''': Clause-by-clause [[Anatomy]] and [[nutshell]] guides (hit the bar on the left) to [[ISDA Master Agreement|ISDA]] and other [[master trading agreement]]s. These may be incomplete, out of date, out of touch, flippant — well, they ''are'' flippant —  but will still be better value and more entertaining than that awful [[FT book about derivatives]]; <br>
'''[[:category:book review|Book reviews]]''' culled from twenty indolent years sounding off on Amazon; <br>
'''Much flippancy''' about [[plain English]], [[buzzword]]s, [[technology]], [[negotiation]], [[flannel]], [[Latin]], [[Greeks|Greek]], [[metaphor]] and [[:category:Egg|egg]]s. <br>
And [[Toto]].
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'''{{isdaprov|Cross Default}} under an ISDA''': That most pointless of all {{isdaprov|Event of Default}}. <br>
'''{{pbprov|Synthetic prime brokerage}}:''' What even ''is'' it? How is it different from ''natural'' [[prime brokerage]]? Can you iron it? <br>
'''{{csaprov|Independent Amount}}''': It’s collateral that’s mouthy. <br>
'''[[Assignment by way of security]]''': Is it the same as a [[charge]]? <br>
'''{{isdaprov|Automatic Early Termination}}''': {{icds}}’s “clever” end-run for silly insolvency regimes. What’s that all about?<br>
'''{{isdaprov|Netting of Payments}}''': The ISDA clause that shouldn’t be! <br>
'''{{isdaprov|Set-off}}''': Is it the same as [[close-out netting]]?<br>
'''{{isdaprov|Credit Support Document}}''': Is it the same as a [[Credit Support Annex]]? (Spoiler: In America, ''Yes''... in England, ''No.'')<br>
'''[[ISDA Comparison]]''': What are the differences bvetween a {{1992ma}} and a {{2002ma}}? Should I care? (Spoiler: ''No''.)<br>
'''{{casenote|Tai Hing Cotton Mill|Liu Chong Hing Bank}}''': A great case, fallen on hard times. But it seems to be piquing interest at the moment.
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“'''[[Africa|Does Kilimanjaro rise above the Serengeti]]?'''” The question every [[Toto]] fan wants answered. (Spoiler: ''No''.)<br>
“'''Tell me about {{casenote|Fardell|Potts}}'''”: A. P. Herbert’s famous fictional case of the [[reasonable woman]]. Is there such a thing? (Spoiler: in the eyes of the law, ''No''.)<br>
“'''Tell me about {{casenote|Miller|Jackson}}'''”: Is [[cricket]] ''capable'' of being a [[nuisance]]? (Spoiler: it’s controversial. But, in the eyes of the law, ''yes''.)<br>
“'''[[I’m not going to die in a ditch about it]]'''”: When to use that greatest of all [[negotiation]] climb-downs.<br>
“'''[[Teldar Paper|teldar paper]]'''” Must be some old-school Oliver Stone fans out there. Greed is, for lack of a better word ...? <br>
“'''[[Notwithstanding anything to the contrary]]'''”: But, why did you ''say'' something to the contrary? <br>
“'''Does [[Africa|Kilimanjaro rise like ''Olympus'' above the Serengeti]]?'''” More [[Toto]] fan correspondence action. <br>
“'''[[Olympus|Is Mt. Olympus anywhere near the Serengeti]]?'''” Okay, Mr. Lukather, that’s enough now. It was funny the first time.
}}

Revision as of 18:56, 18 January 2020

1994 NY CSA Anatomy™


In a Nutshell Section 3(a):

Template:Nutshell 1994 NY CSA 3(a) view template

2016 NY Law VM CSA full text of Section 3(a):

3(a) Delivery Amount. Subject to Paragraphs 4 and 5, upon a demand made by the Secured Party on or promptly following a Valuation Date, if the Delivery Amount for that Valuation Date equals or exceeds the Pledgor’s Minimum Transfer Amount, then the Pledgor will Transfer to the Secured Party Eligible Credit Support having a Value as of the date of Transfer at least equal to the applicable Delivery Amount (rounded pursuant to Paragraph 13). Unless otherwise specified in Paragraph 13, the “Delivery Amount” applicable to the Pledgor for any Valuation Date will equal the amount by which:

3(a)(i) the Credit Support Amount exceeds
3(a)(ii) the Value as of that Valuation Date of all Posted Credit Support held by the Secured Party.

view template

Related Agreements
Click [[{{{2}}} - CSA Provision|here]] for the text of Section [[{{{2}}} - CSA Provision|{{{2}}}]] in the 1995 English Law CSA
Click [[{{{2}}} - VM CSA Provision|here]] for the text of Section [[{{{2}}} - VM CSA Provision|{{{2}}}]] in the 2016 English Law VM CSA
Comparisons
Template:Oldnycsadiff 3(a)
2016 VM CSA and 2016 NY Law VM CSA: click for comparison
{{csadiff {{{2}}}}}

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