Return Amount (VM) - NY VM CSA Provision

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In a Nutshell Section 3(b):

Template:Nutshell 2016 NY CSA 3(b) view template

2016 NY VM CSA full text of Section 3(b):

3(b) Return Amount (VM). Subject to Paragraphs 4 and 5, upon a demand made by the Pledgor on or promptly following a Valuation Date, if the Return Amount (VM) for that Valuation Date equals or exceeds the Secured Party’s Minimum Transfer Amount, then the Secured Party will Transfer to the Pledgor Posted Credit Support (VM) specified by the Pledgor in that demand having a Value as of the date of Transfer as close as practicable to the applicable Return Amount (VM) (rounded pursuant to Paragraph 13). Unless otherwise specified in Paragraph 13, the “Return Amount” applicable to the Secured Party for any Valuation Date will equal the amount by which:

(i) the Value as of that Valuation Date of all Posted Credit Support (VM) held by the Secured Party
exceeds
(ii) the Secured Party’s Exposure.

view template

Related Agreements
Click here for the text of Section 3(b) in the 1995 English Law CSA
Click here for the text of Section 3(b) in the 2016 English Law VM CSA
Click here for the text of the equivalent, Section 2(b) in the 2016 NY Law VM CSA
Comparisons
1995 CSA and 2016 VM CSA: click for comparison
Template:Nycsadiff 2(b)

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