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2016 ISDA Credit Support Annex (VM) (New York law) A Jolly Contrarian owner’s manual™ Resources and navigation Resources 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 Paragraph 6(c) in a Nutshell™ Use at your own risk, campers! 6(c) Use of Posted Collateral (VM). Unless otherwise agreed specified in Paragraph 13 and without limiting the parties’ rights and obligations (especially remedies under Paragraph 8), while the Secured Party is not effectively in default, it may, notwithstanding Section 9-207 of the Uniform Commercial Code; 6(c)(i) Rehypothecate: rehypothecate, sell outright or otherwise deal with any Posted Collateral (VM) it holds absolutely; and 6(c)(ii) Register: register Posted Collateral (VM) in its own or its Custodian (VM)’s name. References to Transfering Eligible Credit Support (VM) or Posted Credit Support (VM) under this 2016 NY Law VM CSA will be construed to apply as if the Secured Party still holds all Posted Collateral (VM) even where in fact it doesn’t. view template Full text of Paragraph 6(c) 6(c) Use of Posted Collateral (VM). Unless otherwise specified in Paragraph 13 and without limiting the rights and obligations of the parties under Paragraphs 3, 4(d)(ii), 5, 6(d) and 8, if the Secured Party is not a Defaulting Party or an Affected Party with respect to a Specified Condition and no Early Termination Date has occurred or been designated as the result of an Event of Default or Specified Condition with respect to the Secured Party, then the Secured Party will, notwithstanding Section 9-207 of the New York Uniform Commercial Code, have the right to: 6(c)(i) sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Posted Collateral (VM) it holds, free from any claim or right of any nature whatsoever of the Pledgor, including any equity or right of redemption by the Pledgor; and 6(c)(ii) register any Posted Collateral (VM) in the name of the Secured Party, its Custodian (VM) or a nominee for either. For purposes of the obligation to Transfer Eligible Credit Support (VM) or Posted Credit Support (VM) pursuant to Paragraphs 3 and 5 and any rights or remedies authorized under this Agreement, the Secured Party will be deemed to continue to hold all Posted Collateral (VM) and to receive Distributions made thereon, regardless of whether the Secured Party has exercised any rights with respect to any Posted Collateral (VM) pursuant to (i) or (ii) above. view template Related agreements and comparisons Related Agreements Click here for the text of Section 6(c) in the 1994 New York law CSA Click here for the text of Section [[- CSA Provision|]] in the 1995 English Law CSA Click here for the text of Section [[- VM CSA Provision|]] in the 2016 English Law VM CSA Comparisons 1994 NY CSA and 2016 NY Law VM CSA: click for comparison There is no equivalent provision in the 2016 VM CSA, so nothing to compare. 1995 CSA and 2016 VM CSA: click for [[special:diff/{{{1}}}/{{{2}}}|comparison]] Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

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See also

• Rehypothecation
• Title transfer collateral arrangement

Template

References

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