11(a) Base Currency and Eligible Currency.
- 11(a)(i) “Base Currency” means United States Dollars unless otherwise specified here:
- 11(a)(ii) “Eligible Currency” means the Base Currency and each other currency specified here:
11(b) Credit Support Obligations.
- 11(b)(i) Delivery Amount, Return Amount and Credit Support Amount.
- 11(b)(i)(A) “Delivery Amount” has the meaning specified in Paragraph 2(a), unless otherwise specified here:
- 11(b)(i)(B) “Return Amount” has the meaning specified in Paragraph 2(b), unless otherwise specified here:
- 11(b)(i)(C) “Credit Support Amount” has the meaning specified in Paragraph 10, unless otherwise specified here:
- 11(b)(i)(A) “Delivery Amount” has the meaning specified in Paragraph 2(a), unless otherwise specified here:
11(b)(ii) Eligible Credit Support. The following items will qualify as “Eligible Credit Support” for the party specified: In each case with checkboxes are for Party A; Party B; and Valuation Percentage
- (A) cash in an Eligible Currency
- (B) negotiable debt obligations issued by the Government of [ ] having an original maturity at issuance of not more than one year
- (C) negotiable debt obligations issue by the Government of [ ] having an original maturity at issuance of more than one year but not more than 10 years
- (D) negotiable debt obligation issued by the Government of [ ] having an original maturity at issuance of more than 10 years
- (E) other:
11(b)(iii) Thresholds.
11(b)(iii)(A)
- “Independent Amount” means with respect to Party A: [SPECIFY]
- “Independent Amount” means with respect to Party B: [SPECIFY]
- “Threshold” means with respect to Party A: [SPECIFY]
- “Threshold” means with respect to Party B: [SPECIFY]
- “Minimum Transfer Amount” means with respect to Party A: [SPECIFY]
- “Minimum Transfer Amount” means with respect to Party B: [SPECIFY]
11(b)(iii)(D) Rounding. The Delivery Amount and the Return Amount will be rounded [down to the nearest integral multiple of ..../up and down to the nearest integral multiple of ...., respectively].
11(c) Valuation and Timing.
- 11(c)(i) “Valuation Agent” means, for purposes of Paragraphs 2 and 4, the party making the demand under Paragraph 2, and, for purposes of Paragraph 5(c), the Transferee, as applicable, unless otherwise specified here: [SPECIFY]
- 11(c)(ii) “Valuation Date” means: [SPECIFY]
- 11(c)(iii) “Valuation Time” means:
- [ ] the close of business in the place of location of the Valuation Agent on the Valuation Date or date of calculation, as applicable;
- [ ] the close of business on the Local Business Day immediately preceding the Valuation Date or date of calculation, as applicable;
- [ ] the close of business in the place of location of the Valuation Agent on the Valuation Date or date of calculation, as applicable;
- provided that the calculations of Value and Exposure will, as far as practicable, be made as of approximately the same time on the same date.
- 11(c)(iv) “Notification Time” means 1:00 p.m., London time, on a Local Business Day, unless otherwise specified here: [SPECIFY]
11(d) Exchange Date. “Exchange Date” has the meaning specified in Paragraph 3(c)(ii), unless
otherwise specified here:
11(e) Dispute Resolution
- 11(e)(i) “Resolution Time” means 1:00 p.m., London time, on the Local Business Day following the date on which the notice is given that gives rise to a dispute under Paragraph 4, unless otherwise specified here: ...
- 11(e)(ii) Value. For the purpose of Paragraphs 4(a)(4)(i)(C) and 4(a)(4)(ii), the Value of the outstanding Credit Support Balance or of any transfer of Eligible Credit Support or Equivalent Credit Support, as the case may be, will be calculated as follows: ...
- 11(e)(iii) Alternative. The provisions of Paragraph 4 will apply, unless an alternative dispute resolution procedure is specified here: ...
11(f) Distributions and Interest Amount.
- 11(f)(i) Interest Rate. The “Interest Rate” in relation to each Eligible Currency specified below will be:
|
Eligible Currency |
Interest Rate |
- 11(f)(ii) Transfer of Interest Amount. The transfer of the Interest Amount will be made on the last Local Business Day of each calendar month and on any Local Business Day that a Return Amount consisting wholly or partly of cash is transferred to the Transferor pursuant to Paragraph 2(b), unless otherwise specified here: ...
- 11(f)(iii) Alternative to Interest Amount. The provisions of Paragraph 5(c)(ii) will apply, unless otherwise specified here: ...
11(g) Addresses for Transfers.
Party A: ...
Party B: ...