Template:ISDA New York Law Credit Support Annex 2016 8(b): Difference between revisions

{{nyvmcsaprov|8(b)}} '''{{nyvmcsaprov|Pledgor’s Rights and Remedies}}'''. If at any time an {{isdaprov|Early Termination Date}} has occurred or been designated as the result of an {{isdaprov|Event of Default}} or {{nyvmcsaprov|Specified Condition}} with respect to the {{nyvmcsaprov|Secured Party}}, then (except in the case of an {{isdaprov|Early Termination Date}} relating to fewer than all {{isdaprov|Transaction}}s where the {{nyvmcsaprov|Secured Party}} has paid in full all of its obligations that are then due under Section 6(e) of this Agreement):<br>

:{{nyvmcsaprov|8(b)(i)}} the {{nyvmcsaprov|Pledgor}} may exercise all rights and remedies available to a {{nyvmcsaprov|Pledgor}} under applicable law with respect to {{nyvmcsaprov|Posted Collateral (VM)}} held by the {{nyvmcsaprov|Secured Party}};<br>

:{{nyvmcsaprov|8(b)(ii)}} the {{nyvmcsaprov|Pledgor}} may exercise any other rights and remedies available to the {{nyvmcsaprov|Pledgor}} under the terms of {{nyvmcsaprov|Other Posted Support (VM)}}, if any;<br>

:{{nyvmcsaprov|8(b)(iii)}} the {{nyvmcsaprov|Secured Party}} will be obligated immediately to {{nyvmcsaprov|Transfer}} all {{nyvmcsaprov|Posted Collateral (VM)}} and, if the {{nyvmcsaprov|Secured Party}} is an {{nyvmcsaprov|Interest Payer (VM)}}, the {{nyvmcsaprov|Interest Payment (VM)}} to the {{nyvmcsaprov|Pledgor}}; and<br>

:{{nyvmcsaprov|8(b)(iv)}} to the extent that {{nyvmcsaprov|Posted Collateral (VM)}} or the {{nyvmcsaprov|Interest Payment (VM)}} is not so {{nyvmcsaprov|Transfer}}red pursuant to<br>

:{{nyvmcsaprov|8(b)(v)}} above, the {{nyvmcsaprov|Pledgor}} may:<br>

::{{nyvmcsaprov|8(b)(v)(A)}} {{nyvmcsaprov|Set-off}} any amounts payable by the {{nyvmcsaprov|Pledgor}} with respect to any {{isdaprov|Obligations}} against any {{nyvmcsaprov|Posted Collateral (VM)}} or the {{nyvmcsaprov|Cash}} equivalent of any {{nyvmcsaprov|Posted Collateral (VM)}} held by the {{nyvmcsaprov|Secured Party}} (or any obligation of the {{nyvmcsaprov|Secured Party}} to {{nyvmcsaprov|Transfer}} that {{nyvmcsaprov|Posted Collateral (VM)}});<br>

::{{nyvmcsaprov|8(b)(v)(B)}} {{nyvmcsaprov|Set-off}}, net, or apply credit support received under any {{nyvmcsaprov|Other CSA}} or the proceeds thereof against any {{nyvmcsaprov|Posted Collateral (VM)}} or the {{nyvmcsaprov|Cash}} equivalent of any {{nyvmcsaprov|Posted Collateral (VM)}} held by the {{nyvmcsaprov|Secured Party}} (or any obligation of the {{nyvmcsaprov|Secured Party}} to {{nyvmcsaprov|Transfer}} that {{nyvmcsaprov|Posted Collateral (VM)}}); and<br>

::{{nyvmcsaprov|8(b)(v)(C)}} to the extent that the {{nyvmcsaprov|Pledgor}} does not {{nyvmcsaprov|Set-off}} under (iv)(A) or (iv)(B) above, withhold payment of any remaining amounts payable by the {{nyvmcsaprov|Pledgor}} with respect to any {{isdaprov|Obligations}}, up to the {{nyvmcsaprov|Value}} of any remaining {{nyvmcsaprov|Posted Collateral (VM)}} held by the Secured Party, until that {{nyvmcsaprov|Posted Collateral (VM)}} is {{nyvmcsaprov|Transfer}}red to the {{nyvmcsaprov|Pledgor}}.<br>