Preservation of Security - IM CSD Provision

2018 ISDA Credit Support Deed (IM) (English law)
A Jolly Contrarian owner’s manual™

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 2(e) in a Nutshell™

Use at your own risk, campers!

Template:Nutshell 2018 CSD 2(e) view template

Full text of Paragraph 2(e)

2(e) Preservation of Security. The security constituted by this Deed shall be a continuing security and shall not be satisfied by any intermediate payment or satisfaction of the whole or any part of the Obligations but shall secure the ultimate balance of the Obligations. If for any reason this security ceases to be a continuing security or any subsequent charge or other interest affects any Security Assets (in each case, other than in relation to either (i) a lien routinely imposed on all securities in a clearing system in which any such Posted Credit Support (IM) may be held or (ii) a lien or security interest referred to in, or connected with, the Control Agreement), the Secured Party may direct that the Chargor open a new account with the Custodian (IM) or continue the existing Segregated Account and the liability of the Chargor in respect of the Obligations at the date of such cessation shall remain regardless of any payments into or out of any such account. The security constituted by this Deed shall be in addition to, and shall not be affected by, any other security now or subsequently held by the Secured Party for all or any of the Obligations. 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(e)

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