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{{ISDA New York Law Credit Support Annex 2016 12}} | {{ISDA New York Law Credit Support Annex 2016 12}} | ||
{{ISDA New York Law Credit Support Annex 2016 13}} | {{ISDA New York Law Credit Support Annex 2016 13}} | ||
===Paragraph {{nyvmcsaprov|11}} '''{{nyvmcsaprov|Miscellaneous)}}'''=== | ===Paragraph {{nyvmcsaprov|11}} '''{{nyvmcsaprov|Miscellaneous)}}'''=== | ||
{{nyvmcsaprov|11(a)}} '''{{nyvmcsaprov|Default Interest}}'''. A {{nyvmcsaprov|Secured Party}} that fails to make, when due, any {{nyvmcsaprov|Transfer}} of {{nyvmcsaprov|Posted Collateral (VM)}} will be obligated to pay the {{nyvmcsaprov|Pledgor}} (to the extent permitted under applicable law) an amount equal to interest at the Default Rate multiplied by the {{nyvmcsaprov|Value}} of the items of property that were required to be {{nyvmcsaprov|Transfer}}red, from (and including) the date that {{nyvmcsaprov|Posted Collateral (VM)}} was required to be {{nyvmcsaprov|Transfer}}red to (but excluding) the date of {{nyvmcsaprov|Transfer}} of that {{nyvmcsaprov|Posted Collateral (VM)}}. This interest will be calculated on the basis of daily compounding and the actual number of days elapsed. An {{nyvmcsaprov|Interest Payer (VM)}} that fails to make, when due, any {{nyvmcsaprov|Transfer}} of an {{nyvmcsaprov|Interest Payment (VM)}} will be obligated to pay the {{nyvmcsaprov|Interest Payee (VM)}} (to the extent permitted under applicable law) an amount equal to interest at the Default Rate (and for such purposes, if the Default Rate is less than zero, it will be deemed to be zero) multiplied by that {{nyvmcsaprov|Interest Payment (VM)}}, from (and including) the date that {{nyvmcsaprov|Interest Payment (VM)}} was required to be {{nyvmcsaprov|Transfer}}red to (but excluding) the date of {{nyvmcsaprov|Transfer}} of that {{nyvmcsaprov|Interest Payment (VM)}}. This interest will be calculated on the basis of daily compounding and the actual number of days elapsed.<br> | {{nyvmcsaprov|11(a)}} '''{{nyvmcsaprov|Default Interest}}'''. A {{nyvmcsaprov|Secured Party}} that fails to make, when due, any {{nyvmcsaprov|Transfer}} of {{nyvmcsaprov|Posted Collateral (VM)}} will be obligated to pay the {{nyvmcsaprov|Pledgor}} (to the extent permitted under applicable law) an amount equal to interest at the Default Rate multiplied by the {{nyvmcsaprov|Value}} of the items of property that were required to be {{nyvmcsaprov|Transfer}}red, from (and including) the date that {{nyvmcsaprov|Posted Collateral (VM)}} was required to be {{nyvmcsaprov|Transfer}}red to (but excluding) the date of {{nyvmcsaprov|Transfer}} of that {{nyvmcsaprov|Posted Collateral (VM)}}. This interest will be calculated on the basis of daily compounding and the actual number of days elapsed. An {{nyvmcsaprov|Interest Payer (VM)}} that fails to make, when due, any {{nyvmcsaprov|Transfer}} of an {{nyvmcsaprov|Interest Payment (VM)}} will be obligated to pay the {{nyvmcsaprov|Interest Payee (VM)}} (to the extent permitted under applicable law) an amount equal to interest at the Default Rate (and for such purposes, if the Default Rate is less than zero, it will be deemed to be zero) multiplied by that {{nyvmcsaprov|Interest Payment (VM)}}, from (and including) the date that {{nyvmcsaprov|Interest Payment (VM)}} was required to be {{nyvmcsaprov|Transfer}}red to (but excluding) the date of {{nyvmcsaprov|Transfer}} of that {{nyvmcsaprov|Interest Payment (VM)}}. This interest will be calculated on the basis of daily compounding and the actual number of days elapsed.<br> |