User:Amwelladmin

[Subject to the terms provided below, the Prime Brokerage Agreement, and not any CSA, shall be the governing agreement for the purpose of determining margin requirements with respect to any Covered Transaction other than: (i) variation margin requirements and (ii) regulatory initial margin requirements in respect of “Covered Transactions (IM)” (as defined in the Reg IM Agreement) (“Reg IM”). Accordingly, unless otherwise agreed, UBS may demand margin with respect to Covered Transactions other than Reg IM under the Prime Brokerage Agreements in accordance with their terms.]