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| {{isdasnap|10}} | | {{isdasnap|10}} |
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| ||{{isdaprov|Offices; Multibranch Parties}} <br>
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| :(a) If Section {{isdaprov|10(a)}} is specified in the {{isdaprov|Schedule}} as applying, each party that enters into a {{isdaprov|Transaction}} through an <br>Office other than its head or home office represents to and agrees with the other party that, notwithstanding the place <br>of booking or its jurisdiction of incorporation or organisation, its obligations are the same in terms of recourse against <br>it as if it had entered into the {{isdaprov|Transaction}} through its head or home office, except that a party will not have recourse <br>to the head or home office of the other party in respect of any payment or delivery deferred pursuant to Section {{isdaprov|5(d)}} <br>for so long as the payment or delivery is so deferred. This representation and agreement will be deemed to be <br>repeated by each party on each date on which the parties enter into a {{isdaprov|Transaction}}. <br>
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| :(b) If a party is specified as a {{isdaprov|Multibranch Party}} in the {{isdaprov|Schedule}}, such party may, subject to clause {{isdaprov|10(c)}} below, <br>enter into a {{isdaprov|Transaction}} through, book a {{isdaprov|Transaction}} in and make and receive payments and deliveries with respect to <br>a {{isdaprov|Transaction}} through any {{isdaprov|Office}} listed in respect of that party in the {{isdaprov|Schedule}} (but not any other {{isdaprov|Office}} unless <br>otherwise agreed by the parties in writing). <br>
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| :(c) The {{isdaprov|Office}} through which a party enters into a {{isdaprov|Transaction}} will be the {{isdaprov|Office}} specified for that party in the <br>relevant {{isdaprov|Confirmation}} or as otherwise agreed by the parties in writing, and, if an {{isdaprov|Office}} for that party is not specified <br>in the {{isdaprov|Confirmation}} or otherwise agreed by the parties in writing, its head or home office. Unless the parties <br>otherwise agree in writing, the Office through which a party enters into a {{isdaprov|Transaction}} will also be the {{isdaprov|Office}} in which <br>it books the {{isdaprov|Transaction}} and the {{isdaprov|Office}} through which it makes and receives payments and deliveries with respect to <br>the {{isdaprov|Transaction}}. Subject to Section {{isdaprov|6(b)(ii)}}, neither party may change the Office in which it books the {{isdaprov|Transaction}} or <br>the {{isdaprov|Office}} through which it makes and receives payments or deliveries with respect to a {{isdaprov|Transaction}} without the prior <br>written consent of the other party. <br>}}
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| ===Commentary=== | | ===Commentary=== |
| Paragraph 10 of the {{isdama}} allows parties to specify whether they are multibranch parties or not. | | Paragraph 10 of the {{isdama}} allows parties to specify whether they are multibranch parties or not. |