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| ==Article 9 Fallback Provisions Applicable To Physical Settlement==
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| '''Section {{cddprov|9.1}} Partial Cash Settlement Due to Impossibility or Illegality'''. If, due to an event beyond the control of Buyer, it is impossible or illegal for {{cddprov|Buyer}} to Deliver, or due to an event beyond the control of {{cddprov|Seller}} it is impossible or illegal for {{cddprov|Seller}} to accept Delivery of, any of the {{cddprov|Deliverable Obligation}}s (other than a {{cddprov|Deliverable Obligation}} described in Section {{cddprov|3.2}}(d) ({{cddprov|Deliverable Obligation}})) specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable on the {{cddprov|Physical Settlement Date}} (including, without limitation, failure of the relevant clearance system or due to any law, regulation or court order, but excluding market conditions or the failure to obtain any requisite consent with respect to the Delivery of Loans), then on or before such date (a) {{cddprov|Buyer}} shall Deliver and {{cddprov|Seller}} shall take Delivery of any of the {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable for which it is possible and legal to take Delivery and {{cddprov|Seller}} shall make a payment of that portion of the {{cddprov|Physical Settlement Amount}} that corresponds to the amount of {{cddprov|Deliverable Obligation}}s that are Delivered in accordance with market practice applicable to the {{cddprov|Deliverable Obligation}} on the {{cddprov|Delivery Date}} and (b) {{cddprov|Buyer}} or {{cddprov|Seller}}, as applicable, shall provide a description in reasonable detail of the facts giving rise to such impossibility or illegality and, as soon as practicable thereafter, {{cddprov|Buyer}} shall Deliver and {{cddprov|Seller}} shall take Delivery of the {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable which were not Delivered and {{cddprov|Seller}} shall make a payment of that portion of the {{cddprov|Physical Settlement Amount}} that corresponds to the amount of {{cddprov|Deliverable Obligation}}s that are Delivered in accordance with market practice applicable to the {{cddprov|Deliverable Obligation}} on the {{cddprov|Delivery Date}}. The date on which the {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable which were not Delivered are subsequently delivered shall be the Termination Date. If, following the occurrence of any such impossibility or illegality, the amount of {{cddprov|Deliverable Obligation}}s that are to be Delivered as specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable are not Delivered to {{cddprov|Seller}} on or prior to the Latest Permissible {{cddprov|Physical Settlement Date}}, Cash Settlement pursuant to Section {{cddprov|9.6}} (Partial Cash Settlement Terms) shall be deemed to apply to the {{cddprov|Credit Derivative Transaction}} with respect to the {{cddprov|Deliverable Obligation}}s that cannot be Delivered (the “'''{{cddprov|Undeliverable Obligations}}'''”).<br>
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| '''Section {{cddprov|9.2}} Partial Cash Settlement of {{cddprov|Consent Required Loan}}s'''. If:<br>
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| :(a) “'''{{cddprov|Partial Cash Settlement of Consent Required Loans}}'''” is specified as applicable in the related Confirmation;<br>
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| :(b) the {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable include {{cddprov|Consent Required Loan}}s that, due to the non-receipt of any requisite consents, are not, on the {{cddprov|Physical Settlement Date}}, capable of being assigned or novated to {{cddprov|Seller}} or its designee and such consents are not obtained or deemed given by the Latest Permissible {{cddprov|Physical Settlement Date}}; and<br>
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| :(c) (i) “'''{{cddprov|Direct Loan Participation}}'''” is not specified as a {{cddprov|Deliverable Obligation Characteristic}} in the related Confirmation, or (ii) “'''{{cddprov|Direct Loan Participation}}'''” is specified as a {{cddprov|Deliverable Obligation Characteristic}} in the related {{cddprov|Confirmation}} and the relevant participation is not effected on or before the Latest Permissible {{cddprov|Physical Settlement Date}},<br>
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| Cash Settlement pursuant to Section {{cddprov|9.6}} (Partial Cash Settlement Terms) shall be deemed to apply to the {{cddprov|Credit Derivative Transaction}} with respect to the {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable that consist of {{cddprov|Consent Required Loan}}s for which consents are not obtained or deemed given (the “'''{{cddprov|Undeliverable Loan Obligations}}'''”).<br>
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| '''Section {{cddprov|9.3}} Partial Cash Settlement of {{cddprov|Assignable Loan}}s'''. If:<br>
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| :(a) “'''{{cddprov|Partial Cash Settlement of Assignable Loans}}'''” is specified as applicable in the related Confirmation;<br>
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| :(b) the {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable include {{cddprov|Assignable Loan}}s that, due to the non-receipt of any requisite consents, are not, on the {{cddprov|Physical Settlement Date}}, capable of being assigned or novated to {{cddprov|Seller}} or its designee and such consents are not obtained or deemed given by the Latest Permissible {{cddprov|Physical Settlement Date}}; and<br>
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| :(c) (i) “'''{{cddprov|Direct Loan Participation}}'''” is not specified as a {{cddprov|Deliverable Obligation Characteristic}} in the related Confirmation, or (ii) “'''{{cddprov|Direct Loan Participation}}'''” is specified as a {{cddprov|Deliverable Obligation Characteristic}} in the related {{cddprov|Confirmation}} and the relevant participation is not effected on or before the Latest Permissible {{cddprov|Physical Settlement Date}},<br>
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| Cash Settlement pursuant to Section {{cddprov|9.6}} (Partial Cash Settlement Terms) shall be deemed to apply to the {{cddprov|Credit Derivative Transaction}} with respect to the {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable, that consist of {{cddprov|Assignable Loan}}s for which consents are not obtained or deemed given (the “'''{{cddprov|{{cddprov|Unassignable Obligation}}s}}'''”).<br>
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| '''Section {{cddprov|9.4}} Partial Cash Settlement of Participations'''. If:<br>
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| :(a) “'''{{cddprov|Partial Cash Settlement of Participations}}'''” is specified as applicable in the related Confirmation; and<br>
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| :(b) the {{cddprov|Deliverable Obligation}}s include {{cddprov|Direct Loan Participation}}s and the relevant participation is not effected on or before the Latest Permissible {{cddprov|Physical Settlement Date}},<br>
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| Cash Settlement pursuant to Section {{cddprov|9.6}} (Partial Cash Settlement Terms) shall be deemed to apply to the {{cddprov|Credit Derivative Transaction}} with respect to the {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable, that consist of {{cddprov|Direct Loan Participation}}s in respect of which the relevant participation is not effected (the “'''{{cddprov|{{cddprov|Undeliverable Participation}}s}}'''”).<br>
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| '''Section {{cddprov|9.5}} Latest Permissible {{cddprov|Physical Settlement Date}}'''. “'''{{cddprov|Latest Permissible Physical Settlement Date}}'''” means, in respect of Section {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality), the date that is thirty calendar days after the {{cddprov|Physical Settlement Date}} and, in respect of Sections {{cddprov|9.2}} (Partial Cash Settlement of {{cddprov|Consent Required Loan}}s), {{cddprov|9.3}} (Partial Cash Settlement of {{cddprov|Assignable Loan}}s) and {{cddprov|9.4}} (Partial Cash Settlement of Participations), the date that is fifteen {{cddprov|Business Day}}s after the {{cddprov|Physical Settlement Date}}.<br>
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| '''Section {{cddprov|9.6}} Partial Cash Settlement Terms'''. Unless otherwise specified in the related Confirmation, the following terms are deemed to be defined as follows for purposes of the Partial Cash Settlement Terms referred to in Sections {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality), {{cddprov|9.2}} (Partial Cash Settlement of {{cddprov|Consent Required Loan}}s), {{cddprov|9.3}} (Partial Cash Settlement of {{cddprov|Assignable Loan}}s) and {{cddprov|9.4}} (Partial Cash Settlement of Participations):<br>
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| :(a) “'''{{cddprov|Cash Settlement Amount}}'''” is deemed to be, for each {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}}, the aggregate of the greater of (i)(A) the Outstanding Principal Balance, {{cddprov|Due and Payable Amount}} or Currency Amount, as applicable, of each {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}} multiplied by (B) the Reference Price minus the {{cddprov|Final Price}} with respect to such {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}} and (ii) zero;<br>
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| :(b) “'''{{cddprov|Cash Settlement Date}}'''” is deemed to be the date that is three {{cddprov|Business Day}}s after the calculation of the {{cddprov|Final Price}}, which date shall also be the Termination Date;<br>
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| :(c) “'''{{cddprov|Reference Obligation}}'''” is deemed to be each {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}} and “'''{{cddprov|Reference Price}}'''” is deemed to be one hundred per cent;<br>
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| :(d) “'''{{cddprov|Valuation Date}}'''” is deemed to be the date that is two {{cddprov|Business Day}}s after the Latest Permissible {{cddprov|Physical Settlement Date}};<br>
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| :(e) “'''{{cddprov|Valuation Method}}'''” is deemed to be Highest unless fewer than two {{cddprov|Full Quotation}}s are obtained or a {{cddprov|Weighted Average Quotation}} applies (or, if applicable, {{cddprov|Indicative Quotation}}s), in which case, “'''{{cddprov|Valuation Method}}'''” is deemed to be Market;<br>
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| :(f) “'''{{cddprov|Quotation Method}}'''” is deemed to be Bid;<br>
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| :(g) “'''{{cddprov|Quotation Amount}}'''” is deemed to be, with respect to each type or issue of {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}}, an amount equal to the {{cddprov|Outstanding Principal Balance}} or {{cddprov|Due and Payable Amount}} (or, in either case, its equivalent in the relevant {{cddprov|Obligation Currency}}, which shall be converted by the {{cddprov|Calculation Agent}} in a commercially reasonable manner by reference to exchange rates in effect at the time that the relevant Quotation is being obtained), as applicable, of such {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}};<br>
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| :(h) There shall be no “'''{{cddprov|Minimum Quotation Amount}}'''”;<br>
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| ::(i) “'''{{cddprov|Valuation Time}}'''” is the time specified as such in the related {{cddprov|Confirmation}} (or, if no such time is specified, 11:00 a.m. in the principal trading market for the {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}} (as applicable));<br>
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| :(j) “'''{{cddprov|Market Value}}'''” means, with respect to an {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}} (as applicable) on a {{cddprov|Valuation Date}}, (i) if more than three {{cddprov|Full Quotation}}s are obtained, the arithmetic mean of such {{cddprov|Full Quotation}}s, disregarding the {{cddprov|Full Quotation}}s having the highest and lowest values (and, if more than one such {{cddprov|Full Quotation}}s have the same highest value or lowest value, then one of such highest or lowest {{cddprov|Full Quotation}}s shall be disregarded), (ii) if exactly three {{cddprov|Full Quotation}}s are obtained, the {{cddprov|Full Quotation}} remaining after disregarding the highest and lowest {{cddprov|Full Quotation}}s (and, if more than one such {{cddprov|Full Quotation}}s have the same highest value or lowest value, then one of such highest or lowest {{cddprov|Full Quotation}}s shall be disregarded), (iii) if exactly two {{cddprov|Full Quotation}}s are obtained, the arithmetic mean of such {{cddprov|Full Quotation}}s, (iv) if fewer than two {{cddprov|Full Quotation}}s are obtained and a {{cddprov|Weighted Average Quotation}} is obtained, such {{cddprov|Weighted Average Quotation}}, (v) if {{cddprov|Indicative Quotation}}s are applicable and exactly three {{cddprov|Indicative Quotation}}s are obtained, the {{cddprov|Indicative Quotation}} remaining after disregarding the highest and lowest {{cddprov|Indicative Quotation}}s (and, if more than one such {{cddprov|Indicative Quotation}}s have the same highest or lowest value, then one of such highest or lowest {{cddprov|Indicative Quotation}}s shall be disregarded), (vi) if fewer than two {{cddprov|Full Quotation}}s are obtained, no {{cddprov|Weighted Average Quotation}} is obtained (and, if {{cddprov|Indicative Quotation}}s are applicable, fewer than three {{cddprov|Indicative Quotation}}s are obtained) then, subject to Section {{cddprov|9.6}}(k)(ii), an amount that the {{cddprov|Calculation Agent}} shall determine on the next {{cddprov|Business Day}} on which two or more {{cddprov|Full Quotation}}s, a {{cddprov|Weighted Average Quotation}} or, if applicable, three {{cddprov|Indicative Quotation}}s are obtained and (vii) if fewer than two {{cddprov|Full Quotation}}s are obtained, no {{cddprov|Weighted Average Quotation}} is obtained (and, if {{cddprov|Indicative Quotation}}s are applicable, fewer than three {{cddprov|Indicative Quotation}}s are obtained) within the additional five {{cddprov|Business Day}} period set forth in Section {{cddprov|9.6}}(k)(ii), the Market Value shall be determined as provided in Section {{cddprov|9.6}}(k)(ii);<br>
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| :(k) “'''{{cddprov|Quotation}}'''” means each {{cddprov|Full Quotation}}, the {{cddprov|Weighted Average Quotation}} and, if {{cddprov|Indicative Quotation}}s are applicable, each {{cddprov|Indicative Quotation}} obtained and expressed as a percentage of the {{cddprov|Reference Obligation}}’s {{cddprov|Outstanding Principal Balance}} or {{cddprov|Due and Payable Amount}}, as applicable, with respect to a {{cddprov|Valuation Date}} in the manner that follows:<br>
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| ::(i) The {{cddprov|Calculation Agent}} shall attempt to obtain {{cddprov|Full Quotation}}s with respect to each {{cddprov|Valuation Date}} from five or more Dealers. If the {{cddprov|Calculation Agent}} is unable to obtain two or more such {{cddprov|Full Quotation}}s on the same {{cddprov|Business Day}} within three {{cddprov|Business Day}}s of a {{cddprov|Valuation Date}}, then on the next following {{cddprov|Business Day}} (and, if necessary, on each {{cddprov|Business Day}} thereafter until the tenth {{cddprov|Business Day}} following the relevant {{cddprov|Valuation Date}}) the {{cddprov|Calculation Agent}} shall attempt to obtain {{cddprov|Full Quotation}}s from five or more Dealers, and, if two or more {{cddprov|Full Quotation}}s are not available, a {{cddprov|Weighted Average Quotation}}. If two or more such {{cddprov|Full Quotation}}s or a {{cddprov|Weighted Average Quotation}} are not available on any such {{cddprov|Business Day}} and {{cddprov|Indicative Quotation}}s are applicable, the {{cddprov|Calculation Agent}} shall attempt to obtain three {{cddprov|Indicative Quotation}}s from five or more Dealers.<br>
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| ::(ii) If the {{cddprov|Calculation Agent}} is a party to the {{cddprov|Credit Derivative Transaction}} and is unable to obtain two or more {{cddprov|Full Quotation}}s or a {{cddprov|Weighted Average Quotation}} (or, if {{cddprov|Indicative Quotation}}s are applicable, three {{cddprov|Indicative Quotation}}s) on the same {{cddprov|Business Day}} on or prior to the tenth {{cddprov|Business Day}} following the applicable {{cddprov|Valuation Date}}, then the party that is not the {{cddprov|Calculation Agent}} may attempt to obtain {{cddprov|Full Quotation}}s from five or more Dealers and, if two or more {{cddprov|Full Quotation}}s are not available, a {{cddprov|Weighted Average Quotation}} (or, if {{cddprov|Indicative Quotation}}s are applicable, three {{cddprov|Indicative Quotation}}s). If such party is able to obtain two or more {{cddprov|Full Quotation}}s or a {{cddprov|Weighted Average Quotation}} (or, if {{cddprov|Indicative Quotation}}s are applicable, three {{cddprov|Indicative Quotation}}s) on the same {{cddprov|Business Day}} within an additional five {{cddprov|Business Day}}s, the {{cddprov|Calculation Agent}} shall use such {{cddprov|Full Quotation}}s or {{cddprov|Weighted Average Quotation}} (or, if applicable, {{cddprov|Indicative Quotation}}s) to determine the {{cddprov|Final Price}} in accordance with the specified Valuation Method. If such party is unable to obtain two or more {{cddprov|Full Quotation}}s, a {{cddprov|Weighted Average Quotation}} (or, if {{cddprov|Indicative Quotation}}s are applicable, three {{cddprov|Indicative Quotation}}s) on the same {{cddprov|Business Day}} within an additional five {{cddprov|Business Day}}s, the Quotations shall be deemed to be any {{cddprov|Full Quotation}} obtained from a Dealer at the Valuation Time on such fifth {{cddprov|Business Day}} or, if no {{cddprov|Full Quotation}} is obtained, the weighted average of any firm quotations (or, if applicable, {{cddprov|Indicative Quotation}}s) for the {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}} (as applicable) obtained from Dealers at the Valuation Time on such fifth {{cddprov|Business Day}} with respect to the aggregate portion of the {{cddprov|Quotation Amount}} for which such quotations were obtained and a quotation deemed to be zero for the balance of the {{cddprov|Quotation Amount}} for which firm quotations (or, if applicable, {{cddprov|Indicative Quotation}}s) were not obtained on such day. If the {{cddprov|Calculation Agent}} is a third party and is unable to obtain two or more {{cddprov|Full Quotation}}s or a {{cddprov|Weighted Average Quotation}} (or, if {{cddprov|Indicative Quotation}}s are applicable, three {{cddprov|Indicative Quotation}}s) on the same {{cddprov|Business Day}} on or prior to the tenth {{cddprov|Business Day}} following the applicable {{cddprov|Valuation Date}}, {{cddprov|Buyer}} and {{cddprov|Seller}} each may attempt to obtain {{cddprov|Full Quotation}}s from five or more Dealers and, if two or more {{cddprov|Full Quotation}}s are not available, a {{cddprov|Weighted Average Quotation}} (or, if {{cddprov|Indicative Quotation}}s are applicable, three {{cddprov|Indicative Quotation}}s). If either or both parties are able to obtain two or more {{cddprov|Full Quotation}}s or a {{cddprov|Weighted Average Quotation}} (or, if {{cddprov|Indicative Quotation}}s are applicable, three {{cddprov|Indicative Quotation}}s) on the same {{cddprov|Business Day}} within an additional five {{cddprov|Business Day}}s, the {{cddprov|Calculation Agent}} shall use all such {{cddprov|Full Quotation}}s or {{cddprov|Weighted Average Quotation}}s (or, if applicable, {{cddprov|Indicative Quotation}}s) to determine the {{cddprov|Final Price}} in accordance with the specified Valuation Method. If the parties are unable to obtain between them two or more {{cddprov|Full Quotation}}s or a {{cddprov|Weighted Average Quotation}} (or, if {{cddprov|Indicative Quotation}}s are applicable, three {{cddprov|Indicative Quotation}}s) on the same {{cddprov|Business Day}} within an additional five {{cddprov|Business Day}}s, the Quotations shall be deemed to be any {{cddprov|Full Quotation}} obtained from a Dealer at the Valuation Time on such fifth {{cddprov|Business Day}} or, if no {{cddprov|Full Quotation}} is obtained, the weighted average of any firm quotations (or, if applicable, {{cddprov|Indicative Quotation}}s) for the {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Loan Obligation}}, {{cddprov|Undeliverable Participation}} or {{cddprov|Unassignable Obligation}} (as applicable) obtained from Dealers at the Valuation Time on such fifth {{cddprov|Business Day}} with respect to the aggregate portion of the {{cddprov|Quotation Amount}} for which such quotations were obtained and a quotation deemed to be zero for the balance of the {{cddprov|Quotation Amount}} for which firm quotations (or, if applicable, {{cddprov|Indicative Quotation}}s) were not obtained on such day.<br>
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| ::(iii) All Quotations shall be obtained in accordance with the specification or determination made pursuant to Section {{cddprov|3.12}} (Accrued Interest);<br>
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| :(l) “'''{{cddprov|Indicative Quotation}}'''” shall mean, in accordance with the {{cddprov|Quotation Method }}, each quotation obtained from a Dealer at the Valuation Time for (to the extent reasonably practicable) an amount of the {{cddprov|Undeliverable Loan Obligation}} equal to the {{cddprov|Quotation Amount}}, which reflects such Dealer’s reasonable assessment of the price of such {{cddprov|Undeliverable Loan Obligation}} based on such factors as such Dealer may consider relevant, which may include historical prices and recovery rates; and<br>
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| :(m) {{cddprov|Indicative Quotation}}s shall be applicable under Section {{cddprov|9.6}} only if the Partial Cash Settlement Terms become applicable to a {{cddprov|Credit Derivative Transaction}} due to the occurrence of an event giving rise to an impossibility or illegality under Section {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality).<br>
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| '''Section {{cddprov|9.7}} Buy'''-in of Bonds Not Delivered. At any time after the date that is five {{cddprov|Business Day}}s after the {{cddprov|Physical Settlement Date}}, if {{cddprov|Buyer}} has not Delivered any {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable, that are Bonds (other than any Bond which (i) is a {{cddprov|Prior Deliverable Obligation}} or a {{cddprov|Package Observable Bond}} which {{cddprov|Buyer}} has notified {{cddprov|Seller}} it intends to Deliver an Asset Package in lieu thereof, or (ii) forms part of an Asset Package which {{cddprov|Buyer}} has notified {{cddprov|Seller}} it intends to Deliver), {{cddprov|Seller}} may exercise a right to close out all or a portion of the {{cddprov|Credit Derivative Transaction}} by the purchase of such Bonds under the terms of Section {{cddprov|9.7}} (a “'''{{cddprov|buy-in}}'''”), unless such failure to Deliver is due to an event described in Section {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality) (in which case Section {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality) shall apply). {{cddprov|Seller}} will provide {{cddprov|Buyer}} two or more {{cddprov|Business Day}}s’ notice (which may be provided prior to the expiration of the five {{cddprov|Business Day}} period after the {{cddprov|Physical Settlement Date}}) of its intention to buy-in (a “'''{{cddprov|Buy-in Notice}}'''”), specifying the date of the anticipated buy-in (the “'''{{cddprov|{{cddprov|Buy-in Date}}}}'''”), the Bonds to be subject to the buy-in (to the extent not Delivered prior to the {{cddprov|Buy-in Date}}, the “'''{{cddprov|Relevant Bonds}}'''”) and the {{cddprov|Outstanding Principal Balance}} thereof sought to be bought-in.<br>
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| On the {{cddprov|Buy-in Date}}, {{cddprov|Seller}} shall attempt to obtain from five or more Dealers firm quotations for the sale (“'''{{cddprov|{{cddprov|Buy-in Offer}}s}}'''”) of the specified {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}} (together with any accrued interest thereon to the extent not already included as part of the Outstanding Principal Balance). The lowest {{cddprov|Buy-in Offer}} or, if {{cddprov|Seller}} obtains only one {{cddprov|Buy-in Offer}}, such {{cddprov|Buy-in Offer}}, for the {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}} shall be the “'''{{cddprov|{{cddprov|Buy-in Price}}}}'''”. If {{cddprov|Seller}} is unable to obtain at least one {{cddprov|Buy-in Offer}} from such Dealers on the relevant {{cddprov|Buy-in Date}} for the specified {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}}, {{cddprov|Seller}} will attempt to obtain {{cddprov|Buy-in Offer}}s for all or a portion of the specified {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}} from five or more Dealers on each {{cddprov|Business Day}} following the {{cddprov|Buy-in Date}} until the earlier of (a) the fourth {{cddprov|Business Day}} (inclusive) following such {{cddprov|Buy-in Date}} and (b) the date a {{cddprov|Buy-in Price}} or Prices are determined for all of the specified {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}} (such period commencing on the {{cddprov|Buy-in Date}}, the “'''{{cddprov|{{cddprov|Buy-in Period}}}}'''”). {{cddprov|Seller}} will conduct the buy-in in a commercially reasonable manner and in accordance with the procedures set forth herein.<br>
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| Buyer’s right to Deliver the specified {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}} shall be suspended only during the {{cddprov|Buy-in Period}} and shall recommence on the first {{cddprov|Business Day}} following the end of the {{cddprov|Buy-in Period}} to the extent {{cddprov|Seller}} has not determined a {{cddprov|Buy-in Price}} or Prices for the specified {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}}. {{cddprov|Seller}} shall commit to purchase such {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}} at the applicable {{cddprov|Buy-in Price}} or Prices. Thereafter, to the extent a {{cddprov|Buy-in Price}} has not been determined during a {{cddprov|Buy-in Period}} with respect to all of the specified {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}}, on or at any time after the sixth {{cddprov|Business Day}} after such {{cddprov|Buy-in Period}}, {{cddprov|Seller}} may give another {{cddprov|Buy-in Notice}} for purposes of commencing another {{cddprov|Buy-in Period}} for the {{cddprov|Relevant Bonds}} in accordance with the procedures set forth herein. This process may be repeated until the final settlement of the {{cddprov|Credit Derivative Transaction}}.<br>
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| On the date a {{cddprov|Buy-in Price}} is determined (or as soon as practicable thereafter), {{cddprov|Seller}} will provide notice of the {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}} for which a Buyin Price or Prices were determined and the {{cddprov|Buy-in Price}} or Prices therefor. On the third {{cddprov|Business Day}} following such notice, {{cddprov|Buyer}} will be deemed to have Delivered an {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable, for which a {{cddprov|Buy-in Price}} was determined and {{cddprov|Seller}} will pay to {{cddprov|Buyer}} that portion of the {{cddprov|Physical Settlement Amount}} that corresponds to such portion of the {{cddprov|Deliverable Obligation}}s, reduced (but not below zero) by the {{cddprov|Buy-in Price}} multiplied by the corresponding {{cddprov|Outstanding Principal Balance}} of the {{cddprov|Relevant Bonds}} for which a {{cddprov|Buy-in Price}} was determined, plus any reasonable brokerage costs incurred by {{cddprov|Seller}} in connection with any purchases by it of the {{cddprov|Relevant Bonds}} as part of the buy-in.<br>
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| Unless otherwise agreed by {{cddprov|Buyer}} and {{cddprov|Seller}}, Section {{cddprov|9.7}} shall replace any otherwise applicable buy-in rules.<br>
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| '''Section {{cddprov|9.8}} Alternative Procedures Relating to Loans Not Delivered'''. If {{cddprov|Buyer}} has not Delivered any {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable, that are Loans (other than any Loan which (i) is a {{cddprov|Prior Deliverable Obligation}} which {{cddprov|Buyer}} has notified {{cddprov|Seller}} it intends to Deliver an Asset Package in lieu thereof, or (ii) forms part of an Asset Package which {{cddprov|Buyer}} has notified {{cddprov|Seller}} it intends to Deliver) on or prior to the date that is five {{cddprov|Business Day}}s after the {{cddprov|Physical Settlement Date}} (the “'''{{cddprov|Loan Alternative Procedure Start Date}}'''”), the following provisions shall apply unless (a) “'''{{cddprov|Reference Obligation Only}}'''” has been specified as the Deliverable {{cddprov|Obligation Category}} in the related Confirmation, (b) in the case of a {{cddprov|Consent Required Loan}}, “'''{{cddprov|Partial Cash Settlement of Consent Required Loans}}'''” is specified as applicable in the related {{cddprov|Confirmation}} (in which case Section {{cddprov|9.2}} (Partial Cash Settlement of {{cddprov|Consent Required Loan}}s) shall apply), (c) in the case of an {{cddprov|Assignable Loan}}, “'''{{cddprov|Partial Cash Settlement of Assignable Loans}}'''” is specified as applicable in the related {{cddprov|Confirmation}} (in which case Section {{cddprov|9.3}} (Partial Cash Settlement of {{cddprov|Assignable Loan}}s) shall apply), (d) in the case of a {{cddprov|Direct Loan Participation}}, “'''{{cddprov|Partial Cash Settlement of Participations}}'''” is specified as applicable in the related {{cddprov|Confirmation}} (in which case Section {{cddprov|9.4}} (Partial Cash Settlement of Participations) shall apply), or (e) in any case, such failure to Deliver is due to an event described in Section {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality) (in which case Section {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality) shall apply):<br>
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| ::(i) If {{cddprov|Buyer}} has failed to obtain the requisite consents to Deliver a Loan specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable and has provided a certificate signed by a Managing Director (or other substantively equivalent title) of Buyer, which certifies that {{cddprov|Buyer}} has used reasonable efforts to obtain such consents, at any time following the {{cddprov|Loan Alternative Procedure Start Date}}, {{cddprov|Buyer}} may Deliver, in lieu of all or part of such Loan, subject to Section {{cddprov|3.31}} (Mod R) or {{cddprov|3.32}} (Mod Mod R), any Bond that is Transferable and Not Bearer or any {{cddprov|Assignable Loan}}, in either case selected by {{cddprov|Buyer}} and having on both the {{cddprov|Physical Settlement Date}} and the {{cddprov|Delivery Date}} each of the {{cddprov|Deliverable Obligation Characteristic}}s (other than {{cddprov|Consent Required Loan}} or {{cddprov|Direct Loan Participation}}), if any, specified in the related {{cddprov|Confirmation}} and otherwise satisfying the requirements to constitute a {{cddprov|Deliverable Obligation}} (and such instrument shall be deemed specified in a {{cddprov|NOPS Amendment Notice}} which will be effective notwithstanding the fact that it is deemed specified after the {{cddprov|Physical Settlement Date}}).<br>
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| ::(ii) At any time after the fifteenth {{cddprov|Business Day}} following the {{cddprov|Loan Alternative Procedure Start Date}}, to the extent that there still remains to be Delivered any {{cddprov|Deliverable Obligation}}s specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable that are Loans and {{cddprov|Buyer}} has not Delivered any {{cddprov|Bond or Loan}} in lieu thereof under Section {{cddprov|9.8}}(i), {{cddprov|Seller}} may require {{cddprov|Buyer}} to Deliver, in lieu of all or part of a Loan specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable, any Bond that is Transferable and Not Bearer or any {{cddprov|Assignable Loan}}, in either case selected by {{cddprov|Seller}} and having on both the {{cddprov|Physical Settlement Date}} and the {{cddprov|Delivery Date}} each of the {{cddprov|Deliverable Obligation Characteristic}}s (other than {{cddprov|Consent Required Loan}} or {{cddprov|Direct Loan Participation}}), if any, specified in the related {{cddprov|Confirmation}} and otherwise satisfying the requirements to constitute a {{cddprov|Deliverable Obligation}} (and such instrument shall be deemed specified in a {{cddprov|NOPS Amendment Notice}} which will be effective notwithstanding the fact that it is deemed specified after the {{cddprov|Physical Settlement Date}}), so long as (A) {{cddprov|Seller}} identifies a holder of, or dealer in, the selected instrument (other than {{cddprov|Seller}} or an Affiliate of {{cddprov|Seller}}) that is ready, willing and able to Deliver such instrument to {{cddprov|Buyer}} at a price (expressed as a percentage) less than the Reference Price and (B) such instrument may be further Delivered by {{cddprov|Buyer}} to {{cddprov|Seller}} without the consent of any person being required.<br>
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| '''Section {{cddprov|9.9}} Alternative Procedures Relating to Assets Not Delivered'''. If and to the extent that Delivery of the {{cddprov|Prior Deliverable Obligation}} or {{cddprov|Package Observable Bond}} has not been satisfied by Delivery of the Assets which form part of the Asset Package which {{cddprov|Buyer}} has notified {{cddprov|Seller}} that it intends to Deliver in lieu of the {{cddprov|Prior Deliverable Obligation}} or {{cddprov|Package Observable Bond}} specified in the {{cddprov|Notice of Physical Settlement}} or any {{cddprov|NOPS Amendment Notice}}, as applicable, in the correct proportion, on or prior to the date that is five {{cddprov|Business Day}}s after the {{cddprov|Physical Settlement Date}}, {{cddprov|Seller}} may require {{cddprov|Buyer}} to Deliver instead any other {{cddprov|Deliverable Obligation}} selected by {{cddprov|Seller}} and having on both the {{cddprov|Physical Settlement Date}} and the {{cddprov|Delivery Date}} each of the {{cddprov|Deliverable Obligation Characteristic}}s, if any, specified in the related {{cddprov|Confirmation}} and otherwise satisfying the requirements to constitute a {{cddprov|Deliverable Obligation}} (and such {{cddprov|Deliverable Obligation}} shall be deemed specified in a {{cddprov|NOPS Amendment Notice}} which will be effective notwithstanding the fact that it is deemed specified after the {{cddprov|Physical Settlement Date}}), so long as (a) {{cddprov|Seller}} identifies a holder of, or dealer in, the selected instrument (other than {{cddprov|Seller}} or an Affiliate of {{cddprov|Seller}}) that is ready, willing and able to Deliver such {{cddprov|Deliverable Obligation}} to {{cddprov|Buyer}} at a price (expressed as a percentage) less than the Reference Price and (b) such {{cddprov|Deliverable Obligation}} may be further Delivered by {{cddprov|Buyer}} to {{cddprov|Seller}} without the consent of any person being required.<br>
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| '''Section {{cddprov|9.10}} Cap on Settlement'''. If “'''{{cddprov|60 {{cddprov|Business Day}} Cap on Settlement}}'''” is specified as applicable in the related {{cddprov|Confirmation}} and the {{cddprov|Termination Date}} has not occurred on or prior to the date that is sixty {{cddprov|Business Day}}s following the {{cddprov|Physical Settlement Date}}, notwithstanding Sections {{cddprov|9.7}} (Buy-in of Bonds Not Delivered) {{cddprov|9.8}} (Alternative Procedures Relating to Loans Not Delivered) and {{cddprov|9.9}} (Alternative Procedures Relating to Assets Not Delivered) and without prejudice to Sections {{cddprov|9.1}} (Partial Cash Settlement Due to Impossibility or Illegality), {{cddprov|9.2}} (Partial Cash Settlement of {{cddprov|Consent Required Loan}}s), {{cddprov|9.3}} (Partial Cash Settlement of {{cddprov|Assignable Loan}}s) and {{cddprov|9.4}} (Partial Cash Settlement of Participations), such sixtieth {{cddprov|Business Day}} shall be deemed to be the {{cddprov|Termination Date}} with respect to the {{cddprov|Credit Derivative Transaction}} except in relation to any portion of such {{cddprov|Credit Derivative Transaction}} (an “'''{{cddprov|Affected Portion}}'''”) in respect of which:<br>
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| :(a) a valid notice of {{cddprov|Buy-in Price}} has been delivered that is effective fewer than three {{cddprov|Business Day}}s prior to such sixtieth {{cddprov|Business Day}}, in which case the {{cddprov|Termination Date}} for that Affected Portion shall be the third {{cddprov|Business Day}} following the date on which such notice is effective; or<br>
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| :(b) {{cddprov|Buyer}} has purchased but not Delivered {{cddprov|Deliverable Obligation}}s validly specified by {{cddprov|Seller}} pursuant to Sections {{cddprov|9.8}}(ii) (Alternative Procedures Relating to Loans Not Delivered) or {{cddprov|9.9}} (Alternative Procedures Relating to Assets Not Delivered), in which case the {{cddprov|Termination Date}} for that Affected Portion shall be the tenth {{cddprov|Business Day}} following the date on which {{cddprov|Seller}} validly specified such {{cddprov|Deliverable Obligation}}s to Buyer.<br>
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| ==Article 10 Effect Of {{cddprov|DC Resolution}}s== | | ==Article 10 Effect Of {{cddprov|DC Resolution}}s== |
| '''Section {{cddprov|10.1}} Settlement Suspension'''. If, following the occurrence of an {{cddprov|Event Determination Date}}but prior to the {{cddprov|Physical Settlement Date}} or, to the extent applicable, a {{cddprov|Valuation Date}}, there is a {{cddprov|DC Credit Event Meeting Announcement}}, the timing requirements of Sections {{cddprov|7.2}} ({{cddprov|Cash Settlement Date}}), {{cddprov|7.8}} ({{cddprov|Valuation Date}}), {{cddprov|8.1}} (Physical Settlement), {{cddprov|8.10}} (NOPS Cut-off Date), and {{cddprov|8.19}} (Physical Settlement Period), as applicable, or any other Section of the Definitions that pertains to settlement, shall toll and remain suspended until the date of the relevant {{cddprov|DC Credit Event Announcement}}or {{cddprov|DC Credit Event Question}} Dismissal. During such suspension period, the parties are not obliged to, nor are they entitled to, take any action in connection with the settlement of any relevant {{cddprov|Credit Derivative Transaction}}. Once the relevant {{cddprov|DC Credit Event Announcement}}or {{cddprov|DC Credit Event Question}} Dismissal, as applicable, has occurred, the relevant timing requirements of Sections {{cddprov|7.2}} ({{cddprov|Cash Settlement Date}}), {{cddprov|7.8}} ({{cddprov|Valuation Date}}), {{cddprov|8.1}} (Physical Settlement), {{cddprov|8.10}} (NOPS Cut-off Date), and {{cddprov|8.19}} (Physical Settlement Period), as applicable, or any other Section of the Definitions that pertains to settlement that have previously tolled or been suspended shall resume on the {{cddprov|Business Day}} following such public announcement by the {{cddprov|DC Secretary}} with the parties having the benefit of the full day notwithstanding when the tolling or suspension began in accordance with Section {{cddprov|10.1}}. <br> | | '''Section {{cddprov|10.1}} Settlement Suspension'''. If, following the occurrence of an {{cddprov|Event Determination Date}}but prior to the {{cddprov|Physical Settlement Date}} or, to the extent applicable, a {{cddprov|Valuation Date}}, there is a {{cddprov|DC Credit Event Meeting Announcement}}, the timing requirements of Sections {{cddprov|7.2}} ({{cddprov|Cash Settlement Date}}), {{cddprov|7.8}} ({{cddprov|Valuation Date}}), {{cddprov|8.1}} (Physical Settlement), {{cddprov|8.10}} (NOPS Cut-off Date), and {{cddprov|8.19}} (Physical Settlement Period), as applicable, or any other Section of the Definitions that pertains to settlement, shall toll and remain suspended until the date of the relevant {{cddprov|DC Credit Event Announcement}}or {{cddprov|DC Credit Event Question}} Dismissal. During such suspension period, the parties are not obliged to, nor are they entitled to, take any action in connection with the settlement of any relevant {{cddprov|Credit Derivative Transaction}}. Once the relevant {{cddprov|DC Credit Event Announcement}}or {{cddprov|DC Credit Event Question}} Dismissal, as applicable, has occurred, the relevant timing requirements of Sections {{cddprov|7.2}} ({{cddprov|Cash Settlement Date}}), {{cddprov|7.8}} ({{cddprov|Valuation Date}}), {{cddprov|8.1}} (Physical Settlement), {{cddprov|8.10}} (NOPS Cut-off Date), and {{cddprov|8.19}} (Physical Settlement Period), as applicable, or any other Section of the Definitions that pertains to settlement that have previously tolled or been suspended shall resume on the {{cddprov|Business Day}} following such public announcement by the {{cddprov|DC Secretary}} with the parties having the benefit of the full day notwithstanding when the tolling or suspension began in accordance with Section {{cddprov|10.1}}. <br> |