Representation - CSA Provision

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ISDA 1995 English Law Credit Support Annex


In a Nutshell Section 7:

Paragraph 7. Representation
Each party represents on each transfer date that it has the right to transfer all property it transfers under this Annex, free of any encumbrance (other than a customary clearing system lien).
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1995 CSA full text of Section 7:

Paragraph 7. Representation
Each party represents to the other party (which representation will be deemed to be repeated as of each date on which it transfers Eligible Credit Support, Equivalent Credit Support or Equivalent Distributions) that it is the sole owner of or otherwise has the right to transfer all Eligible Credit Support, Equivalent Credit Support or Equivalent Distributions it transfers to the other party under this Annex, free and clear of any security interest, lien, encumbrance or other restriction (other than a lien routinely imposed on all securities in a relevant clearance system).
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Related Agreements
Click here for the text of Section 7 in the 1995 English Law CSA
Click here for the text of Section 7 in the 2016 English Law VM CSA
Click [[{{{3}}} - NY VM CSA Provision|here]] for the text of the equivalent, Section [[{{{3}}} - NY VM CSA Provision|{{{3}}}]] in the 2016 NY Law VM CSA
Comparisons
1995 CSA and 2016 VM CSA: click for comparison
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Substantively identical between the 1995 CSA and 2016 VM CSA, as the handy comparison link in the panel to the right.