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| :(b) If for any reason the amount in the {{gmraprov|Contractual Currency}} received by a party, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the {{gmraprov|Contractual Currency}}, falls short of the amount in the {{gmraprov|Contractual Currency}} due and payable, the party required to make the payment will, as a separate and independent obligation, to the extent permitted by applicable law, immediately transfer such additional amount in the {{gmraprov|Contractual Currency}} as may be necessary to compensate for the shortfall.<br> | | :(b) If for any reason the amount in the {{gmraprov|Contractual Currency}} received by a party, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the {{gmraprov|Contractual Currency}}, falls short of the amount in the {{gmraprov|Contractual Currency}} due and payable, the party required to make the payment will, as a separate and independent obligation, to the extent permitted by applicable law, immediately transfer such additional amount in the {{gmraprov|Contractual Currency}} as may be necessary to compensate for the shortfall.<br> |
| :(c) If for any reason the amount in the {{gmraprov|Contractual Currency}} received by a party exceeds the amount of the {{gmraprov|Contractual Currency}} due and payable, the party receiving the transfer will refund promptly the amount of such excess.<br> | | :(c) If for any reason the amount in the {{gmraprov|Contractual Currency}} received by a party exceeds the amount of the {{gmraprov|Contractual Currency}} due and payable, the party receiving the transfer will refund promptly the amount of such excess.<br> |
| '''{{gmraprov|8}}. {{gmraprov|Substitution}}'''<br>
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| :(a) A {{gmraprov|Transaction}} may at any time between the {{gmraprov|Purchase Date}} and {{gmraprov|Repurchase Date}}, if {{gmraprov|Seller}} so requests and {{gmraprov|Buyer}} so agrees, be varied by the transfer by {{gmraprov|Buyer}} to {{gmraprov|Seller}} of {{gmraprov|Securities}} {{gmraprov|equivalent}} to the {{gmraprov|Purchased Securities}}, or to such of the {{gmraprov|Purchased Securities}} as shall be agreed, in exchange for the transfer by {{gmraprov|Seller}} to {{gmraprov|Buyer}} of other {{gmraprov|Securities}} of such amount and description as shall be agreed (“'''{{gmraprov|New Purchased Securities}}'''”) (being {{gmraprov|Securities}} having a {{gmraprov|Market Value}} at the date of the variation at least equal to the {{gmraprov|Market Value}} of the {{gmraprov|Equivalent Securities}} transferred to {{gmraprov|Seller}}).<br>
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| :(b) Any variation under sub paragraph {{gmraprov|8(a)}} above shall be effected, subject to paragraph {{gmraprov|6(d), by the simultaneous transfer of the {{gmraprov|Equivalent Securities}} and {{gmraprov|New Purchased Securities}} concerned.<br>
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| :(c) A {{gmraprov|Transaction}} which is varied under sub paragraph {{gmraprov|8(a)}} above shall thereafter continue in effect as though the {{gmraprov|Purchased Securities}} under that {{gmraprov|Transaction}} consisted of or included the {{gmraprov|New Purchased Securities}} instead of the {{gmraprov|Securities}} in respect of which {{gmraprov|Equivalent Securities}} have been transferred to {{gmraprov|Seller}}.<br>
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| :(d) Where either party has transferred {{gmraprov|Margin Securities}} to the other party it may at any time before {{gmraprov|Equivalent Margin Securities}} are transferred to it under paragraph {{gmraprov|4}} request the other party to transfer {{gmraprov|Equivalent Margin Securities}} to it in exchange for the transfer to the other party of new {{gmraprov|Margin Securities}} having a {{gmraprov|Market Value}} at the time of transfer at least equal to that of such {{gmraprov|Equivalent Margin Securities}}. If the other {{gmraprov|Party A}}grees to the request, the exchange shall be effected, subject to paragraph {{gmraprov|6(d)}}, by the simultaneous transfer of the {{gmraprov|Equivalent Margin Securities}} and new {{gmraprov|Margin Securities}} concerned. Where either or both of such transfers is or are effected through a settlement system in circumstances which under the rules and procedures of that settlement system give rise to a payment by or for the account of one party to or for the account of the other party, the parties shall cause such payment or payments to be made outside that settlement system, for value the same day as the payments made through that settlement system, as shall ensure that the exchange of {{gmraprov|Equivalent Margin Securities}} and new {{gmraprov|Margin Securities}} effected under this sub paragraph does not give rise to any net payment of cash by either party to the other.<br>
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