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Template:ISDA English Law Credit Support Deed 2018 11: Difference between revisions
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Template:ISDA English Law Credit Support Deed 2018 11 (view source)
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{{imcsdprov|10(a)}} '''{{imcsdprov|Default Interest}}'''. A {{imcsdprov|Secured Party}} that fails, when required to do so, to instruct the {{imcsdprov|Custodian (IM)}} to transfer {{imcsdprov|Posted Credit Support (IM)}} to the {{imcsdprov|Chargor}}, will be obliged to pay the {{imcsdprov|Chargor}} (to the extent permitted by applicable law) an amount equal to interest at the Default Rate multiplied by the Value on the relevant {{imcsdprov|Calculation Date (IM)}} of the items of property that the {{imcsdprov|Secured Party}} was required to instruct the {{imcsdprov|Custodian (IM)}} to transfer, from (and including) the date that the {{imcsdprov|Secured Party}} was required to instruct the {{imcsdprov|Custodian (IM)}} to transfer the {{imcsdprov|Posted Credit Support (IM)}} to (but excluding) the date that the {{imcsdprov|Secured Party}} instructs the {{imcsdprov|Custodian (IM)}} to transfer the {{imcsdprov|Posted Credit Support (IM)}}. This interest will be calculated on the basis of daily compounding and the actual number of days elapsed. <br> | {{imcsdprov|10(a)}} '''{{imcsdprov|Default Interest}}'''. A {{imcsdprov|Secured Party}} that fails, when required to do so, to instruct the {{imcsdprov|Custodian (IM)}} to transfer {{imcsdprov|Posted Credit Support (IM)}} to the {{imcsdprov|Chargor}}, will be obliged to pay the {{imcsdprov|Chargor}} (to the extent permitted by applicable law) an amount equal to interest at the Default Rate multiplied by the Value on the relevant {{imcsdprov|Calculation Date (IM)}} of the items of property that the {{imcsdprov|Secured Party}} was required to instruct the {{imcsdprov|Custodian (IM)}} to transfer, from (and including) the date that the {{imcsdprov|Secured Party}} was required to instruct the {{imcsdprov|Custodian (IM)}} to transfer the {{imcsdprov|Posted Credit Support (IM)}} to (but excluding) the date that the {{imcsdprov|Secured Party}} instructs the {{imcsdprov|Custodian (IM)}} to transfer the {{imcsdprov|Posted Credit Support (IM)}}. This interest will be calculated on the basis of daily compounding and the actual number of days elapsed. <br> | ||
{{imcsdprov|10(b)}} '''{{imcsdprov|Further Assurances}}'''. Promptly following a demand made by a party, the other party will execute, deliver, file and record any financing statement, specific assignment or other document, and take any other action that may be necessary or desirable and reasonably requested by that party to create, preserve, perfect or validate any security interest granted under Paragraph 2, to enable that party to exercise or enforce its rights under this Deed with respect to {{imcsdprov|Posted Credit Support (IM)}} or to effect or document a release of a security interest on {{imcsdprov|Posted Credit Support (IM)}}.<br> | {{imcsdprov|10(b)}} '''{{imcsdprov|Further Assurances}}'''. Promptly following a demand made by a party, the other party will execute, deliver, file and record any financing statement, specific assignment or other document, and take any other action that may be necessary or desirable and reasonably requested by that party to create, preserve, perfect or validate any security interest granted under Paragraph 2, to enable that party to exercise or enforce its rights under this Deed with respect to {{imcsdprov|Posted Credit Support (IM)}} or to effect or document a release of a security interest on {{imcsdprov|Posted Credit Support (IM)}}.<br> | ||
{{imcsdprov|10(c)}} '''{{imcsdprov|Further Protection}}'''. The {{imcsdprov|Chargor}} will promptly give notice to the {{imcsdprov|Secured Party}} of, and defend against, any suit, action, proceeding or lien that involves {{imcsdprov|Posted Credit Support (IM)}} transferred by the {{imcsdprov|Chargor}} or that could adversely affect the security interest granted by it under Paragraph 2. | {{imcsdprov|10(c)}} '''{{imcsdprov|Further Protection}}'''. The {{imcsdprov|Chargor}} will promptly give notice to the {{imcsdprov|Secured Party}} of, and defend against, any suit, action, proceeding or lien that involves {{imcsdprov|Posted Credit Support (IM)}} transferred by the {{imcsdprov|Chargor}} or that could adversely affect the security interest granted by it under Paragraph {{imcsdprov|2}}. <br> | ||
{{imcsdprov|10(d)}} '''{{imcsdprov|Good Faith and Commercially Reasonable Manner}}'''. Performance of all obligations under this Deed, including, but not limited to, all calculations, valuations and determinations made by either party, will be made in good faith and in a commercially reasonable manner.<br> | {{imcsdprov|10(d)}} '''{{imcsdprov|Good Faith and Commercially Reasonable Manner}}'''. Performance of all obligations under this {{imcsdprov|Deed}}, [[including, but not limited to]], all calculations, valuations and determinations made by either party, will be made [[In good faith and a commercially reasonable manner|in good faith and in a commercially reasonable manner]].<br> | ||
{{imcsdprov|10(e)}} '''{{imcsdprov|Demands and Notices}}'''. All demands and notices made by a party under this Deed will be made as specified in Section 12 of the Agreement, except as otherwise provided in Paragraph {{imcsdprov|13}}.<br> | {{imcsdprov|10(e)}} '''{{imcsdprov|Demands and Notices}}'''. All demands and notices made by a party under this Deed will be made as specified in Section 12 of the Agreement, except as otherwise provided in Paragraph {{imcsdprov|13}}.<br> | ||
{{imcsdprov|10(f)}} '''{{imcsdprov|Specifications of Certain Matters}}'''. Anything referred to in this Deed as being specified in Paragraph {{imcsdprov|13}} also may be specified in one or more Confirmations or other documents and this Deed will be construed accordingly.<br> | {{imcsdprov|10(f)}} '''{{imcsdprov|Specifications of Certain Matters}}'''. Anything referred to in this Deed as being specified in Paragraph {{imcsdprov|13}} also may be specified in one or more Confirmations or other documents and this Deed will be construed accordingly.<br> | ||