Posted Credit Support (VM) - 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

Paragraph 10(b) in a Nutshell™

Use at your own risk, campers!

10(b) Posted Credit Support (VM). When it finds out about them the Pledgor must promptly pay any taxes imposed on Posted Credit Support (VM) while the Secured Party actually holds it in custody, even if the Secured Party later reuses it under Paragraph 6(c). This obligation doesn’t extend to taxes arising from the act of reuse under Paragraph 6(c). view template

Full text of Paragraph 10(b)

10(b) Posted Credit Support (VM). The Pledgor will promptly pay when due all taxes, assessments or charges of any nature that are imposed with respect to Posted Credit Support (VM) held by the Secured Party upon becoming aware of the same, regardless of whether any portion of that Posted Credit Support (VM) is subsequently disposed of under Paragraph 6(c), except for those taxes, assessments and charges that result from the exercise of the Secured Party’s rights under Paragraph 6(c). view template

Related agreements and comparisons

Related Agreements Click here* for the text of Section 10(b) in the 1994 New York law CSA* Click here* for the text of Section 10(b) in the 1995 English Law CSA* Click here* for the text of Section 10(b) in the 2016 English Law VM CSA* Comparisons Template:2nycsadiff 10(b) Template:Nycsadiff 10(b) Template:Csadiff 10(b)