Talk:Secured Party and Chargor - IM CSD Provision: Difference between revisions

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(Created page with "2018 CSD 1(b) Secured Party and Chargor. Unless otherwise specified in Paragraph 13, all references in this Deed to the “Secured Party” will be to either party when actin...")
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2016 NY CSA
2018 CSD


1(b) Secured Party and Pledgor. All references in this Annex to the “Secured Party” will be to either party when acting in that capacity and all corresponding references to the “Pledgor” will be to the other party when acting in that capacity; provided, however, that if Other Posted Support (VM) is held by a party to this Annex, all references herein to that party as the Secured Party with respect to that Other Posted Support (VM) will be to that party as the beneficiary thereof and will not subject that support or that party as the beneficiary thereof to provisions of law generally relating to security interests and secured parties.
1(b) Secured Party and Chargor. Unless otherwise specified in Paragraph 13, all references in this Deed to the “Secured Party” will be to either party when acting in that capacity and all corresponding references to the “Chargor” will be to the other party when acting in that capacity, provided, however, that a reference herein to Posted Credit Support (IM) being “held” by a Secured Party at any time shall be construed as a reference to the Posted Credit Support (IM) credited to the Segregated Accounts at such time in respect of which a Security Interest has been created in its favour under this Deed. A reference to a transfer of Eligible Credit Support (IM) or Posted Credit Support (IM) to or from the Custodian (IM) is deemed to be a reference to a transfer to or from the relevant Segregated Accounts, as applicable.

Revision as of 08:45, 21 April 2021

2018 CSD

1(b) Secured Party and Chargor. Unless otherwise specified in Paragraph 13, all references in this Deed to the “Secured Party” will be to either party when acting in that capacity and all corresponding references to the “Chargor” will be to the other party when acting in that capacity, provided, however, that a reference herein to Posted Credit Support (IM) being “held” by a Secured Party at any time shall be construed as a reference to the Posted Credit Support (IM) credited to the Segregated Accounts at such time in respect of which a Security Interest has been created in its favour under this Deed. A reference to a transfer of Eligible Credit Support (IM) or Posted Credit Support (IM) to or from the Custodian (IM) is deemed to be a reference to a transfer to or from the relevant Segregated Accounts, as applicable.

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