Assigned Rights - IM CSD Provision

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

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Paragraph Assigned Rights in a Nutshell

Use at your own risk, campers!

Full text of Paragraph Assigned Rights

Assigned Rights” means all rights relating to the Posted Credit Support (IM) which the Chargor may have now or in the future against the Custodian (IM) or any third party, including, without limitation, (i) any right, interest, money or property accruing or offered at any time in relation to any Posted Credit Support (IM) by way of redemption, substitution, exchange, bonus or preference, under option rights or otherwise and (ii) any right to delivery of a security of the appropriate description which arises in connection with (a) any Posted Credit Support (IM) being transferred to a clearance system or financial intermediary or (b) any interest in or to any Posted Credit Support (IM) being acquired while that Posted Credit Support (IM) is in a clearance system or held through a financial intermediary.

Related agreements and comparisons

Related Agreements
Click here for the text of Section NA in the 2016 ISDA VM CSA
Comparisons
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Content and comparisons

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Summary

In which yours truly, finally, satisfyingly, captures the beautiful butterfly that is ISDA’s crack drafting squad™ in his net. For here we read, repeatedly, about “clearance systems”. Elsewhere we read (for example, Section 2(c)(ii), of “clearing systems”.

BANG TO RIGHTS, FELLAS. GOTCHA.

ISDA’s crack drafting squad™, never knowingly out-pedanted, is out-pedanted.

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See also

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References