Valuation Date - NY CSA Provision

From The Jolly Contrarian
Revision as of 11:19, 17 June 2024 by Amwelladmin (talk | contribs)
Jump to navigation Jump to search
ISDA 1994 New York Law Credit Support Annex

A Jolly Contrarian owner’s manual™

Go premium

Crosscheck:
NY OG
Eng OG
NY VM
Eng VM
Eng IM

Valuation Date and Time in a Nutshell

The JC’s Nutshell summary of this term has moved uptown to the subscription-only ninja tier. For the cost of ½ a weekly 🍺 you can get it here. Sign up at Substack. You can even ask questions! Ask about it here.

Original text

Valuation Date” means each date specified in or otherwise determined pursuant to Paragraph 13.


Valuation Time” has the meaning specified in Paragraph 13.


13(c) Valuation and Timing.

(i) “Valuation Agent” means, for purposes of Paragraphs 3 and 5, the party making the demand under Paragraph 3, and, for purposes of Paragraph 6(d), the Secured Party receiving or deemed to receive the Distributions or the Interest Amount, as applicable, unless otherwise specified here: [SPECIFY]
(ii) “Valuation Date” means: [SPECIFY]
(iii) “Valuation Time” means:
[ ] the close of business in the city of the Valuation Agent on the Valuation Date or date of calculation, as applicable;
[ ] the close of business on the Local Business Day before the Valuation Date or date of calculation, as applicable;
provided that the calculations of Value and Exposure will be made as of approximately the same time on the same date.
(iv) “Notification Time” means 1:00 p.m., New York time, on a Local Business Day, unless otherwise specified here: [SPECIFY]
The varieties of ISDA CSA
Subject 1994 NY 1995 Eng 2016 VM NY 2016 VM Eng 2018 IM Eng
Preamble Pre Pre Pre Pre Pre
Interpretation 1 1 1 1 1
Security Interest 2 - 2 - 2
Credit Support Obligations 3 2 3 2 3
Transfers, Calculations and Exchanges - 3 - 3 -
Conditions Precedent, Transfer Timing, Calculations and Substitutions 4 - 4 - 4
Dispute Resolution 5 4 5 4 5
Holding and Using Posted Collateral 6 - 6 - 6
Transfer of Title, No Security Interest - 5 - 5 -
Events of Default 7 6 7 6 7
Rights and Remedies 8 - 8 - 8
Representations 9 7 9 7 9
Expenses 10 8 10 8 10
Miscellaneous 11 9 11 9 11
Definitions 12 10 12 10 12
Elections and Variables 13 11 13 11 13

Resources and Navigation

Index: Click to expand:

Comparisons

Template:Csa Valuation Date and Time comp

Basics

Template:Csa Valuation Date and Time summ

Premium content
Here the free bit runs out. Subscribers click 👉 here. New readers sign up 👉 here and, for ½ a weekly 🍺 go full ninja about all these juicy topics👇
  • JC’s “nutshell” summary of the clause
  • Background reading and long-form essays
    • Four-dimensional chess associated with the Valuation and settlement process
    • Transfer timings — a run-down

See also

References