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| ===Paragraph {{nyvmcsaprov|6}} '''{{nyvmcsaprov|Holding and Using Posted Collateral (VM)}}'''=== | | ===Paragraph {{nyvmcsaprov|6}} '''{{nyvmcsaprov|Holding and Using Posted Collateral (VM)}}'''=== |
| {{ISDA New York Law Credit Support Annex 2016 6(a)}} | | {{ISDA New York Law Credit Support Annex 2016 6(a)}} |
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| {{ISDA New York Law Credit Support Annex 2016 6(b)}} | | {{ISDA New York Law Credit Support Annex 2016 6(b)}} |
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| {{ISDA New York Law Credit Support Annex 2016 6(c)}} | | {{ISDA New York Law Credit Support Annex 2016 6(c)}} |
| | | {{ISDA New York Law Credit Support Annex 2016 6(d)}} |
| {{nyvmcsaprov|6(d)}} '''{{nyvmcsaprov|Distributions, Interest Amount (VM) and Interest Payment (VM)}}'''.<br> | |
| :{{nyvmcsaprov|6(d)(i)}} '''{{nyvmcsaprov|Distributions}}'''. Subject to Paragraph {{nyvmcsaprov|4(a)}}, if the {{nyvmcsaprov|Secured Party}} receives or is deemed to receive {{nyvmcsaprov|Distributions}} on a {{nyvmcsaprov|Local Business Day}}, it will {{nyvmcsaprov|Transfer}} to the {{nyvmcsaprov|Pledgor}} not later than the following {{nyvmcsaprov|Local Business Day}} any {{nyvmcsaprov|Distributions}} it receives or is deemed to receive to the extent that a {{nyvmcsaprov|Delivery Amount (VM)}} would not be created or increased by that {{nyvmcsaprov|Transfer}}, as calculated by the {{nyvmcsaprov|Valuation Agent}} (and the date of calculation will be deemed to be a {{nyvmcsaprov|Valuation Date}} for this purpose).<br>
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| :{{nyvmcsaprov|6(d)(ii)}} {{nyvmcsaprov|Interest Amount (VM)}} and {{nyvmcsaprov|Interest Payment (VM)}}. Unless otherwise specified in Paragraph {{nyvmcsaprov|13 }} and subject to Paragraph {{nyvmcsaprov|4(a)}}, in lieu of any interest, dividends or other amounts paid or deemed to have been paid with respect to {{nyvmcsaprov|Posted Collateral (VM)}} in the form of {{nyvmcsaprov|Cash}} (all of which may be retained by the {{nyvmcsaprov|Secured Party}}),<br>
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| ::{{nyvmcsaprov|6(d)(ii)(A)}} if “Interest {{nyvmcsaprov|Transfer}}” is specified as applicable in Paragraph {{nyvmcsaprov|13}}, the {{nyvmcsaprov|Interest Payer (VM)}} will {{nyvmcsaprov|Transfer}} to the {{nyvmcsaprov|Interest Payee (VM)}}, at the times specified in Paragraph {{nyvmcsaprov|13}}, the relevant {{nyvmcsaprov|Interest Payment (VM)}}; provided that if “Interest Payment Netting” is specified as applicable in Paragraph {{nyvmcsaprov|13}}: <br>
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| :::{{nyvmcsaprov|6(d)(ii)(A)(I)}} if the {{nyvmcsaprov|Interest Payer (VM)}} is entitled to demand a {{nyvmcsaprov|Delivery Amount (VM)}} or {{nyvmcsaprov|Return Amount (VM)}}, in respect of the date such {{nyvmcsaprov|Interest Payment (VM)}} is required to be {{nyvmcsaprov|Transfer}}red:<br>
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| ::::{{nyvmcsaprov|6(d)(ii)(A)(I)(a)}} such {{nyvmcsaprov|Delivery Amount (VM)}} or {{nyvmcsaprov|Return Amount (VM)}} will be reduced (but not below zero) by such {{nyvmcsaprov|Interest Payment (VM)}}; provided that, in case of such {{nyvmcsaprov|Return Amount (VM)}}, if the amount of {{nyvmcsaprov|Posted Collateral (VM)}} which is comprised of {{nyvmcsaprov|Cash}} in the {{nyvmcsaprov|Base Currency}} is less than such {{nyvmcsaprov|Interest Payment (VM)}}, such reduction will only be to the extent of the amount of such {{nyvmcsaprov|Cash}} which is {{nyvmcsaprov|Posted Collateral (VM)}} (the “'''{{nyvmcsaprov|Eligible Return Amount (VM)}}'''”); and<br>
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| ::::{{nyvmcsaprov|6(d)(ii)(A)(I)(b)}} the {{nyvmcsaprov|Interest Payer (VM)}} will {{nyvmcsaprov|Transfer}} to the {{nyvmcsaprov|Interest Payee (VM)}} the amount of the excess, if any, of such {{nyvmcsaprov|Interest Payment (VM)}} over such {{nyvmcsaprov|Delivery Amount (VM)}} or Eligible {{nyvmcsaprov|Return Amount (VM)}}, as applicable; and<br>
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| :::{{nyvmcsaprov|6(d)(ii)(A)(II)}} if under Paragraph {{nyvmcsaprov|6(d)(ii)(A)(I)(a)}} a {{nyvmcsaprov|Delivery Amount (VM)}} is reduced (the amount of such reduction, the “'''{{nyvmcsaprov|Delivery Amount Reduction (VM)}}'''”) or a {{nyvmcsaprov|Return Amount (VM)}} is reduced (the amount of such reduction, the “'''{{nyvmcsaprov|Return Amount Reduction (VM)}}'''”), then for purposes of determining {{nyvmcsaprov|Posted Collateral (VM)}}, the {{nyvmcsaprov|Secured Party}} (a) will be deemed to have received an amount in {{nyvmcsaprov|Cash}} in the {{nyvmcsaprov|Base Currency}} equal to any{{nyvmcsaprov| Delivery Amount Reduction (VM)}}, and such amount will constitute {{nyvmcsaprov|Posted Collateral (VM)}} in such {{nyvmcsaprov|Cash}} and will be subject to the security interest granted under Paragraph {{nyvmcsaprov|2}} or (b) will be deemed to have {{nyvmcsaprov|Transfer}}red an amount in {{nyvmcsaprov|Cash}} in the {{nyvmcsaprov|Base Currency}} equal to any {{nyvmcsaprov|Return Amount Reduction (VM)}}, as applicable, in each case on the day on which the relevant {{nyvmcsaprov|Interest Payment (VM)}} was due to be {{nyvmcsaprov|Transfer}}red, as applicable; and<br>
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| ::{{nyvmcsaprov|6(d)(ii)(B)}} if “'''{{nyvmcsaprov|Interest Adjustment}}'''” is specified as applicable in Paragraph {{nyvmcsaprov|13}}, the {{nyvmcsaprov|Posted Collateral (VM)}} will be adjusted by the {{nyvmcsaprov|Secured Party}}, at the times specified in Paragraph {{nyvmcsaprov|13}}, as follows:<br>
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| :::{{nyvmcsaprov|6(d)(ii)(B)(I)}} if the {{nyvmcsaprov|Interest Amount (VM)}} for an {{nyvmcsaprov|Interest Period}} is a positive number, the {{nyvmcsaprov|Interest Amount (VM)}} will constitute {{nyvmcsaprov|Posted Collateral (VM)}} in the form of {{nyvmcsaprov|Cash}} in the {{nyvmcsaprov|Base Currency}} and will be subject to the security interest granted under Paragraph {{nyvmcsaprov|2}}; and<br>
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| :::{{nyvmcsaprov|6(d)(ii)(B)(II)}} if the {{nyvmcsaprov|Interest Amount (VM)}} for an {{nyvmcsaprov|Interest Period}} is a negative number and any {{nyvmcsaprov|Posted Collateral (VM)}} is in the form of {{nyvmcsaprov|Cash}} in the {{nyvmcsaprov|Base Currency}}, the {{nyvmcsaprov|Interest Amount (VM)}} will constitute a reduction of {{nyvmcsaprov|Posted Collateral (VM)}} in the form of such {{nyvmcsaprov|Cash}} in an amount (such amount, the “'''{{nyvmcsaprov|Interest Adjustment Reduction Amount (VM)}}'''”) equal to the absolute {{nyvmcsaprov|Value}} of the {{nyvmcsaprov|Interest Amount (VM)}}; provided that if the amount of {{nyvmcsaprov|Posted Collateral (VM)}} which is comprised of such {{nyvmcsaprov|Cash}} is less than the {{nyvmcsaprov|Interest Adjustment Reduction Amount (VM)}}, such reduction will only be to the extent of the amount of such {{nyvmcsaprov|Cash}} which is {{nyvmcsaprov|Posted Collateral (VM)}} and the {{nyvmcsaprov|Pledgor}} will be obligated to {{nyvmcsaprov|Transfer}} the remainder of the {{nyvmcsaprov|Interest Adjustment Reduction Amount (VM)}} to the {{nyvmcsaprov|Secured Party}} on the day that such reduction occurred.<br>
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