Representation - CSA Provision

1995 ISDA Credit Support Annex (English Law)
A Jolly Contrarian owner’s manual™

Resources and navigation

Resources Full wikitext \| Nutshell wikitext Navigation 1 (Interpretation) \| 2 (Credit Support Obligations) \| 3 (Transfers, Calculations and Exchanges) \| 4 (Dispute Resolution) \| 5 (Title Transfer etc) \| 6 (Default) \| 7 (Representation) \| 8 (Expenses) \| 9 (Miscellaneous) \| 10 (Definitions) \| 11 (Elections and Variables) Index — Click the ᐅ to expand: 1995 CSA

Clause 7 in a Nutshell™

Use at your own risk, campers!

Paragraph 7. Representation Each party represents on each transfer date that it has the right to transfer all property it transfers under this Annex, free of any encumbrance (other than a customary clearing system lien). view template

Full text of Clause 7

Paragraph 7. Representation Each party represents to the other party (which representation will be deemed to be repeated as of each date on which it transfers Eligible Credit Support, Equivalent Credit Support or Equivalent Distributions) that it is the sole owner of or otherwise has the right to transfer all Eligible Credit Support, Equivalent Credit Support or Equivalent Distributions it transfers to the other party under this Annex, free and clear of any security interest, lien, encumbrance or other restriction (other than a lien routinely imposed on all securities in a relevant clearance system). view template

The varieties of ISDA CSA
Subject	1994 NY	1995 Eng	2016 VM NY	2016 VM Eng	2018 IM Eng
Preamble	Pre	Pre	Pre	Pre	Pre
Interpretation	1	1	1	1	1
Security Interest	2	-	2	-	2
Credit Support Obligations	3	2	3	2	3
Transfers, Calculations and Exchanges	-	3	-	3	-
Conditions Precedent, Transfer Timing, Calculations and Substitutions	4	-	4	-	4
Dispute Resolution	5	4	5	4	5
Holding and Using Posted Collateral	6	-	6	-	6
Transfer of Title, No Security Interest	-	5	-	5	-
Events of Default	7	6	7	6	7
Rights and Remedies	8	-	8	-	8
Representations	9	7	9	7	9
Expenses	10	8	10	8	10
Miscellaneous	11	9	11	9	11
Definitions	12	10	12	10	12
Elections and Variables	13	11	13	11	13

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