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{{gmraprov|BSA 2}} '''{{gmraprov|Interpretation}}''' <br> | {{gmraprov|BSA 2}} '''{{gmraprov|Interpretation}}''' <br> | ||
(a) In this Annex - | (a) In this Annex - | ||
:(i) “'''{{gmraprov|Accrued Interest}}'''” | :(i) “'''{{gmraprov|Accrued Interest}}'''” means for any {{gmraprov|Purchased Securities}} under a {{gmraprov|Buy/Sell Back Transaction}}, unpaid {{gmraprov|Income}} accruing from the last {{gmraprov|Income Payment Date}} for the {{gmraprov|Purchased Securities}} to the calculation date. Unpaid {{gmraprov|Income}} will accrue daily during each interest period; <br> | ||
:(ii) “'''{{gmraprov|Sell Back Differential}}'''” | :(ii) “'''{{gmraprov|Sell Back Differential}}'''” means the aggregate amount obtained by daily applying {{gmraprov|Pricing Rate}} on a {{gmraprov|Buy/Sell Back Transaction}} using the appropriate ISMA [[day count convention]], to the sum of (a) the {{gmraprov|Purchase Price}} and (b) {{gmraprov|Accrued Interest}} paid on the {{gmraprov|Purchase Date}} for such {{gmraprov|Transaction}} for the actual number of days during the period between the Purchase Date and the calculation date; <br> | ||
:(iii) “'''{{gmraprov|Sell Back Price}}'''” | :(iii) “'''{{gmraprov|Sell Back Price}}'''” means for any {{gmraprov|Buy/Sell Back Transaction}}, means - | ||
::(x) | ::(x) for the originally agreed {{gmraprov|Repurchase Date}} under paragraph {{gmraprov|3(b)(iii)}}, the agreed price agreed for that {{gmraprov|Buy/Sell Back Transaction}}, and | ||
::(y) in any other case | ::(y) in any other case the product of the formula ''(P + Al +D) - (IR + C)'', where: | ||
:::P = {{gmraprov|Purchase Price}}. | |||
:::P = | :::Al = {{gmraprov|Accrued Interest}} at the {{gmraprov|Purchase Date}}, paid under paragraph {{gmraprov|BSA 3(f)}}. | ||
:::Al = | :::D = {{gmraprov|Sell Back Differential}}. | ||
:::D = | :::IR = Any income payable under the {{gmraprov|Purchased Securities}} on any date between the {{gmraprov|Purchase Date}} and the {{gmraprov|Repurchase Date}}. | ||
:::IR = | :::C = the aggregate amount obtained by applying the {{gmraprov|Pricing Rate}} daily to such {{gmraprov|Income}} from the payment date to the of calculation date <br> | ||
:::C = the aggregate amount obtained by | |||
(b) References to {{gmraprov|Repurchase Price}} throughout the {{gmraprov|Agreement}} shall be construed as references to “{{gmraprov|Repurchase Price}} or {{gmraprov|Sell Back Price}}, as the case may be”. <br> | (b) References to {{gmraprov|Repurchase Price}} throughout the {{gmraprov|Agreement}} shall be construed as references to “{{gmraprov|Repurchase Price}} or {{gmraprov|Sell Back Price}}, as the case may be”. <br> | ||
(c) In Paragraph {{gmraprov|10(c)(i)}} of the {{gmraprov|Agreement}} (relating to {{gmraprov|Events of Default}}), the reference to the “{{gmraprov|Repurchase Price}}s” shall be construed as a reference to “{{gmraprov|Repurchase Price}}s and {{gmraprov|Sell Back Price}}s”. <br> | (c) In Paragraph {{gmraprov|10(c)(i)}} of the {{gmraprov|Agreement}} (relating to {{gmraprov|Events of Default}}), the reference to the “{{gmraprov|Repurchase Price}}s” shall be construed as a reference to “{{gmraprov|Repurchase Price}}s and {{gmraprov|Sell Back Price}}s”. <br> | ||
(d) [[In the event of]] any conflict between the terms of this [[Buy/Sellback Annex - GMRA Provision |Annex | (d) [[In the event of]] any conflict between the terms of this [[Buy/Sellback Annex - GMRA Provision |Annex III]] and any other term of the {{gmraprov|Agreement}}, the terms in this Annex shall prevail. <br> |