Elections and Variables - NY VM CSA Provision

2016 NY VM CSA Anatomy™ Go Premium In a Nutshell™ Section 3: Template:Nutshell 2016 NY CSA 3 view template 2016 NY VM CSA full text of Section 3: Paragraph 3 Credit Support Obligations 3(a) Delivery Amount (VM). Subject to Paragraphs 4 and 5, upon a demand made by the Secured Party on or promptly following a Valuation Date, if the Delivery Amount (VM) for that Valuation Date equals or exceeds the Pledgor’s Minimum Transfer Amount, then the Pledgor will Transfer to the Secured Party Eligible Credit Support (VM) having a Value as of the date of Transfer at least equal to the applicable Delivery Amount (VM) (rounded pursuant to Paragraph 13). Unless otherwise specified in Paragraph 13, the “Delivery Amount (VM)” applicable to the Pledgor for any Valuation Date will equal the amount by which: (i) the Secured Party’s Exposure exceeds (ii) the Value as of that Valuation Date of all Posted Credit Support (VM) held by the Secured Party. 3(b) Return Amount (VM). Subject to Paragraphs 4 and 5, upon a demand made by the Pledgor on or promptly following a Valuation Date, if the Return Amount (VM) for that Valuation Date equals or exceeds the Secured Party’s Minimum Transfer Amount, then the Secured Party will Transfer to the Pledgor Posted Credit Support (VM) specified by the Pledgor in that demand having a Value as of the date of Transfer as close as practicable to the applicable Return Amount (VM) (rounded pursuant to Paragraph 13). Unless otherwise specified in Paragraph 13, the “Return Amount” applicable to the Secured Party for any Valuation Date will equal the amount by which: (i) the Value as of that Valuation Date of all Posted Credit Support (VM) held by the Secured Party exceeds (ii) the Secured Party’s Exposure. view template Related Agreements Click here for the text of Section 3 in the 1994 New York law CSA Click here for the text of Section 1 in the 1995 English Law CSA Click here for the text of Section 1 in the 2016 English Law VM CSA Comparisons Template:2nycsadiff 3 Template:Nycsadiff 3 1995 CSA and 2016 VM CSA: click for comparison Resources Full wikitext | Nutshell wikitext Navigation 1 (Interpretation) | 2 (Security Interest) | 3 (Credit Support Obligations) | 4 ( Conditions Precedent, Transfer Timing, Calculations and Substitutions) | 5 (Dispute Resolution) | 6 (Holding and Using Posted Collateral (VM)) | 7 (Events of Default) | 8 (Certain Rights and Remedies) | 9 (Representations) | 10 (Expenses) | 11 (Miscellaneous) | 12 (Definitions) | 13 (Elections and Variables) Index: Click ᐅ to expand: 2016 NY VM CSA Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you. Sign up for our newsletter.

Paragraph 13. Elections and Variables

13(a) Base Currency and Eligible Currency

13(a)(i) Base Currency

13(a)(ii) Eligible Currency

13(b) Covered Transactions; Security Interest for Obligations; Exposure

13(b)(i) Covered Transactions

13(b)(i)(A) Covered Transactions

13(b)(ii) Obligations

13(b)(iii) Exposure

13(c) Credit Support Obligations

13(c)(i) Delivery Amount (VM) and Return Amount (VM)

13(c)(i)(A) Delivery Amount (VM)

13(c)(i)(B) Return Amount (VM)

13(c)(ii) Eligible Collateral (VM)

13(c)(iii) Legally Ineligible Credit Support (VM)

13(c)(iii)(A) Total Ineligibility Date

13(c)(iii)(B) Transfer

13(c)(iv) Credit Support Eligibility Conditions (VM)

13(c)(v) Valuation Percentage; FX Haircut Percentage

13(c)(v)(A) Valuation Percentage

13(c)(v)(B) FX Haircut Percentage

13(c)(vi) Other Eligible Support (VM)

13(c)(vii) Minimum Transfer Amount

13(c)(vii)(A) Minimum Transfer Amount

13(c)(vii)(B) Rounding

13(c)(viii) Transfer Timing

13(d) Valuation and Timing

13(d)(i) Valuation Agent

13(d)(ii) Valuation Date

13(d)(iii) Valuation Time

13(d)(iv) Notification Time

13(e) Conditions Precedent and Secured Party’s Rights and Remedies

13(f) Substitution

13(f)(i) Substitution Date

13(f)(ii) Consent

13(g) Dispute Resolution

13(g)(i) Resolution Time

13(g)(ii) Value

13(g)(iii) Alternative

13(h) Holding and Using Posted Collateral (VM)

13(h)(i) Eligibility to Hold Posted Collateral (VM); Custodians (VM)

13(h)(ii) Use of Posted Collateral (VM)

13(i) Distributions and Interest Payment (VM)

13(i)(i) Interest Rate (VM)

13(i)(ii) Transfer of Interest Payment (VM) or application of Interest Amount (VM)

Interest Transfer

Interest Payment Netting

Interest Adjustment

13(i)(iii) Other Interest Elections

Negative Interest

Daily Interest Compounding

13(i)(iv) Alternative to Interest Amount (VM) and Interest Payment (VM)

13(j) Credit Support Offsets

13(k) Additional Representations

13(l) Other Eligible Support (VM) and Other Posted Support (VM)

13(l)(i) Value

13(l)(ii) Transfer

13(m) Demands and Notices

13(n) Addresses for Transfers

13(o) Other CSA

13(p) Other Provisions