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1994 ISDA NY CSA: Difference between revisions

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1994 ISDA NY CSA (view source)

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(Created page with "{{ISDA New York Law Credit Support Annex 1994 Preamble}} {{ISDA New York Law Credit Support Annex 1994 1}} {{ISDA New York Law Credit Support Annex 1994 2}} {{ISDA New York La...")
 
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{{ISDA New York Law Credit Support Annex 1994 13}}
{{ISDA New York Law Credit Support Annex 1994 13}}


Para {{nycsaprov|2}} '''{{nycsaprov|Security Interest}}'''<br>
 
Each party, as the {{nycsaprov|Pledgor}}, hereby pledges to the other party, as the {{nycsaprov|Secured Party}}, as security for its {{nycsaprov|Obligations}}, and grants to the {{nycsaprov|Secured Party}} a first priority continuing security interest in, lien on and right of Set-off against all {{nycsaprov|Posted Collateral}} {{nycsaprov|Transfer}}red to or received by the {{nycsaprov|Secured Party}} hereunder. Upon the {{nycsaprov|Transfer}} by the {{nycsaprov|Secured Party}} to the {{nycsaprov|Pledgor}} of {{nycsaprov|Posted Collateral}}, the security interest and lien granted hereunder on that {{nycsaprov|Posted Collateral}} will be released immediately and, to the extent possible, without any further action by either party.<br>
Para {{nycsaprov|3}} '''{{nycsaprov|Credit Support Obligations}}'''<br>
Para {{nycsaprov|3}} '''{{nycsaprov|Credit Support Obligations}}'''<br>
{{nycsaprov|3(a)}} '''{{nycsaprov|Delivery Amount}}'''. Subject to Paragraphs 4 and 5, upon a demand made by the {{nycsaprov|Secured Party}} on or promptly following a {{nycsaprov|Valuation Date}}, if the {{nycsaprov|Delivery Amount}} for that {{nycsaprov|Valuation Date}} equals or exceeds the {{nycsaprov|Pledgor}}’s {{nycsaprov|Minimum {{nycsaprov|Transfer}} Amount}}, then the {{nycsaprov|Pledgor}} will {{nycsaprov|Transfer}} to the {{nycsaprov|Secured Party}} {{nycsaprov|Eligible Credit Support}} having a {{nycsaprov|Value}} as of the date of {{nycsaprov|Transfer}} at least equal to the applicable {{nycsaprov|Delivery Amount}} (rounded pursuant to Paragraph {{nycsaprov|13}}). Unless otherwise specified in Paragraph {{nycsaprov|13}}, the “'''{{nycsaprov|Delivery Amount}}'''” applicable to the {{nycsaprov|Pledgor}} for any {{nycsaprov|Valuation Date}} will equal the amount by which:<br>
{{nycsaprov|3(a)}} '''{{nycsaprov|Delivery Amount}}'''. Subject to Paragraphs 4 and 5, upon a demand made by the {{nycsaprov|Secured Party}} on or promptly following a {{nycsaprov|Valuation Date}}, if the {{nycsaprov|Delivery Amount}} for that {{nycsaprov|Valuation Date}} equals or exceeds the {{nycsaprov|Pledgor}}’s {{nycsaprov|Minimum {{nycsaprov|Transfer}} Amount}}, then the {{nycsaprov|Pledgor}} will {{nycsaprov|Transfer}} to the {{nycsaprov|Secured Party}} {{nycsaprov|Eligible Credit Support}} having a {{nycsaprov|Value}} as of the date of {{nycsaprov|Transfer}} at least equal to the applicable {{nycsaprov|Delivery Amount}} (rounded pursuant to Paragraph {{nycsaprov|13}}). Unless otherwise specified in Paragraph {{nycsaprov|13}}, the “'''{{nycsaprov|Delivery Amount}}'''” applicable to the {{nycsaprov|Pledgor}} for any {{nycsaprov|Valuation Date}} will equal the amount by which:<br>
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