Security Interest - NY VM CSA Provision

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

Clause 2 in a Nutshell™

Use at your own risk, campers!

Template:Nutshell 2016 NY CSA 2 view template

Full text of Clause 2

Paragraph 2 Security Interest Each party, as the Pledgor, hereby pledges to the other party, as the Secured Party, as security for its Obligations, and grants to the Secured Party a first priority continuing security interest in, lien on and right of Set-off against all Posted Collateral (VM) Transferred to or received by the Secured Party hereunder. Upon the Transfer by the Secured Party to the Pledgor of Posted Collateral (VM), the security interest and lien granted hereunder on that Posted Collateral (VM) will be released immediately and, to the extent possible, without any further action by either party. view template

Related agreements and comparisons

Related Agreements Click here* for the text of Section 2 in the 1994 New York law CSA* Click here* for the text of Section 2 in the 1995 English Law CSA* Click here* for the text of Section 2 in the 2016 English Law VM CSA* Comparisons Template:2nycsadiff 2 Template:Nycsadiff 2 1995 CSA and 2016 VM CSA: click for comparison