Template:Nutshell 1995 CSA 10

Paragraph 10. Definitions
In this Annex:
Template:Nutshell 1995 CSA Base Currency “Base Currency Equivalent” of an amount in a currency other than the Base Currency (the “Other Currency”) is the amount of Base Currency the Valuation Agent determines is needed to buy that Other Currency amount at the prevailing spot exchange rate on the Valuation Date.
Template:Nutshell 1995 CSA Credit Support Amount A Transferor’s “Credit Support Balance” on a Valuation Date is the aggregate of all Eligible Credit Support that it has transferred to the Transferee (including any Distributions or redemption proceeds) as reduced by any Return Amounts transferred under Paragraph 2(b), exchanges made under Paragraph 3(c)(ii) or the default provisions under Paragraph 6 and as adjusted for interest accrual under Paragraph 5(c)(ii). Any Equivalent Distributions not transferred when due under Paragraph 5(c)(i) will form part of the Credit Support Balance.
Template:Nutshell 1995 CSA Delivery Amount Template:Nutshell 1995 CSA Disputing Party Template:Nutshell 1995 CSA Distributions Template:Nutshell 1995 CSA Distributions Date Template:Nutshell 1995 CSA Eligible Credit Support Template:Nutshell 1995 CSA Eligible Currency "Equivalent Credit Support” means, for any Eligible Credit Support in the Credit Support Balance, fungible assets having the same nominal value.
Template:Nutshell 1995 CSA Equivalent Distributions Template:Nutshell 1995 CSA Exchange Date “Exposure” means, for a party on a Valuation Date, any amount payable to it by the other party (if so, a positive number) or by it to the other party (if so, a negative number) under Section 6(e)(ii)(1) were all Transactions (other than the CSA) being terminated at the Valuation Time, assuming that:

(i) it is not the Affected Party and

(ii) the Base Currency is the Termination Currency;

where the Valuation Agent will determine Market Quotations based on its mid-market estimates for Replacement Transactions (as contemplated in “Market Quotation”).
A party’s “Independent Amount” is the Base Currency Equivalent of the amount specified for it in Paragraph 11(b)(iii)(A) or, if not specified, zero.
Template:Nutshell 1995 CSA Interest Amount “Interest Period” means the period from and including the day on which cash credit support is delivered to a Transferee to but excluding the day on which an Interest Amount is first transferred in respect of it, and from and including that day, to but excluding the next one, and so on. Template:Nutshell 1995 CSA Interest Rate “Local Business Day” means:

(i) Dematerialised securities: for securities transfers inside a clearance system, a day on which that clearance system executes settlement instructions;

(ii) Cash and other property: for cash and other transfers, a day on which commercial banks are open where the relevant account is located and in the principal financial centre for any relevant currency;

(iii) Valuations: for valuations, a day on which commercial banks are open where the Valuation Agent is located (or other places agreed by the Parties); and

(iv) Notices: for any communication, a day on which commercial banks are open in the place specified for the recipient in the notices section.

Template:Nutshell 1995 CSA Minimum Transfer Amount Template:Nutshell 1995 CSA New Credit Support 11(c)(iv) “Notification Time” means 1:00 p.m., London time, on a Local Business Day, unless otherwise specified here. Template:Nutshell 1995 CSA Recalculation Date Template:Nutshell 1995 CSA Resolution Time Template:Nutshell 1995 CSA Return Amount Template:Nutshell 1995 CSA Settlement Day Template:Nutshell 1995 CSA Threshold Template:Nutshell 1995 CSA Transferee Template:Nutshell 1995 CSA Transferor “Valuation Agent” is defined in Paragraph 11(c)(i).
“Valuation Date” is specified in Paragraph 11(c)(ii).
"Valuation Percentage” is specified in Paragraph 11(b)(ii) for each item of Eligible Credit Support.
Template:Nutshell 1995 CSA Valuation Time The “Value” (bearing in mind dispute provisions of Paragraph 4) of Eligible Credit Support on any Valuation Date is its Base Currency Equivalent, if cash, and, if securities, the Base Currency Equivalent of the bid price the Valuation Agent obtains, in each case multiplied by the relevant Valuation Percentage. The Value of cash and securities in a Credit Support Balance that are not Eligible Credit Support at any time will be zero.