Release of Security - IM CSD Provision

2018 ISDA Credit Support Deed (IM) (English law)
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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 2(d) in a Nutshell™

Use at your own risk, campers!

Template:Nutshell 2018 CSD 2(d) view template

Full text of Paragraph 2(d)

2(d) Release of Security. Upon the transfer by the Custodian (IM) to the Chargor of Posted Credit Support (IM) either (i) following an instruction from the Secured Party, (ii) in accordance with any provisions relating to the transfer of collateral following delivery of a Chargor Access Notice under the Control Agreement or (iii) as otherwise agreed by the parties, the security interest granted under this Deed on that Posted Credit Support (IM) will be released immediately, and the Assigned Rights relating to that Posted Credit Support (IM) will be re-assigned to the Chargor, in each case without any further action by either party. To the extent that all Obligations of the Chargor owed to the Secured Party have been irrevocably satisfied in full and no further Obligations may arise, then at the Chargor’s expense the Secured Party will also release the security interest granted under this Deed on each of the Segregated Accounts. view template

Related agreements and comparisons

Related Agreements Click here* for the text of Section NA in the 2016 ISDA VM CSA* Comparisons Template:Csddiff 2(d)

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