Conditions Precedent - IM CSD Provision
2018 ISDA Credit Support Deed (IM) (English law)
Paragraph 4(a) in a Nutshell™ Use at your own risk, campers!
Full text of Paragraph 4(a)
Related agreements and comparisons
|
Content and comparisons
Template:M comp disc 2018 CSD 4(a)
Summary
Not entirely clear that it should relate to ineligible Credit Support (that hence has a Value of zero), since it doesn’t count numerically into the Value of the Posted Credit Support (IM) (this is the 2018 English law IM CSD’s ungainly description of what we used to call a “Credit Support Balance” — but on the other hand the argument is “well, you are going tetas arriba so frankly anything of yours that I hold I’m damn well keeping and selling for anything I can get for it.”
The latter argument, we fancy, will prevail.