Template:ISDA English Law Credit Support Deed 2018 3(a)

2018 ISDA Credit Support Deed (IM) (English law)
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Resources and navigation

Resources: 2018 CSD Wikitext \| 2018 CSD Nutshell Wikitext Navigation 1 (Interpretation) \| 2 (Security) \| 3 (Credit Support Obligations) \| 4 (Conditions Precedent, Transfers, Timing, Calculations and Substitutions) \| 5 (Dispute Resolution) \| 6 (Custody Arrangements and the Control Agreement) \| 7 (Default) \| 8 (Certain Rights and Remedies) \| 9 (Representation) \| 10 (Expenses) \| 11 (Other Provisions) \| 12 (Definitions) \| 13 (Elections and Variables) Index: Click ᐅ to expand: 2018 CSD

Paragraph 3(a) in a Nutshell™

Use at your own risk, campers!

3(a) Delivery Amount (IM). Subject to Paragraphs 4 and 5, upon a Secured Party’s valid demand, if the Chargor’s Delivery Amount (IM) meets its Minimum Transfer Amount (IM), it must transfer to the Custodian (IM) Eligible Credit Support (IM) then equal in value to the Delivery Amount (IM). The “Delivery Amount (IM)” will be the amount by which the Chargor’s Credit Support Amount (IM) exceeds the prevailing Value of all Posted Credit Support (IM) held by the Secured Party (adjusted to include for any due but un-settled Delivery Amount (IM) or Return Amount (IM) as of the Calculation Date (IM)). view template

Full text of Paragraph 3(a)

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Related agreements and comparisons

Related Agreements Click here* for the text of Section 2(a) in the 2016 ISDA VM CSA* Comparisons 2016 VM CSA and 2018 English law IM CSD: click for comparison

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Content and comparisons

But for label changes, this provision functions more or less exactly as does the equivalent provision (2(a)) in the 2016 VM CSA. Which is nice.