Transfer - NY CSA Provision

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In a Nutshell Section Transfer:

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1994 New York law CSA full text of Section Transfer:

Transfer” means, with respect to any Eligible Credit Support, Posted Credit Support or Interest Amount, and in accordance with the instructions of the Secured Party, Pledgor or Custodian, as applicable:

(i)} in the case ofCash, payment or delivery by wire transfer into one or more bank accounts specified by the recipient;
(ii) in the case of certificated securities that cannot be paid or delivered by book-entry, payment or delivery in appropriate physical form to the recipient or its account accompanied by any duly executed instruments of transfer, assignments in blank, transfer tax stamps and any other documents necessary to constitute a legally valid transfer to the recipient;
(iii) in the case of securities that can be paid or delivered by book-entry, the giving of written instructions to the relevant depository institution or other entity specified by the recipient, together with a written copy thereof to the recipient, sufficient if complied with to result in a legally effective transfer of the relevant interest to the recipient; and
(iv) in the case of Other Eligible Support or Other Posted Support, as specified in Paragraph 13.

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Related Agreements
Click here for the text of Section Transfer in the 2016 New York law CSA
Click here for the text of Section Transfer in the 1995 English Law CSA
Click here for the text of Section Transfer in the 2016 English Law VM CSA
Comparisons
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Differences between CSA versions

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