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| {{ISDA New York Law Credit Support Annex 2016 12}} | | {{ISDA New York Law Credit Support Annex 2016 12}} |
| {{ISDA New York Law Credit Support Annex 2016 13}} | | {{ISDA New York Law Credit Support Annex 2016 13}} |
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| ===Paragraph {{nyvmcsaprov|7}} '''{{nyvmcsaprov|Events of Default)}}'''===
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| For purposes of Section 5(a)(iii)(1) of this Agreement, an {{isdaprov|Event of Default}} will exist with respect to a party if:<br>
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| :{{nyvmcsaprov|7(i)}} that party fails (or fails to cause its {{nyvmcsaprov|Custodian (VM)}}) to make, when due, any {{nyvmcsaprov|Transfer}} of {{nyvmcsaprov|Eligible Collateral (VM)}}, {{nyvmcsaprov|Posted Collateral (VM)}} or the {{nyvmcsaprov|Interest Payment (VM)}}, as applicable, required to be made by it and that failure continues for two {{nyvmcsaprov|Local Business Day}}s after notice of that failure is given to that party;<br>
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| :{{nyvmcsaprov|7(ii)}} that party fails to comply with any restriction or prohibition specified in this Annex with respect to any of the rights specified in Paragraph {{nyvmcsaprov|6(c)}} and that failure continues for five {{nyvmcsaprov|Local Business Day}}s after notice of that failure is given to that party; or<br>
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| :{{nyvmcsaprov|7(iii)}} that party fails to comply with or perform any agreement or obligation other than those specified in Paragraphs {{nyvmcsaprov|7(i)}} and {{nyvmcsaprov|7(ii)}} and that failure continues for 30 days after notice of that failure is given to that party.<br>
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| ===Paragraph {{nyvmcsaprov|8}} '''{{nyvmcsaprov|Certain Rights and Remedies}}'''=== | | ===Paragraph {{nyvmcsaprov|8}} '''{{nyvmcsaprov|Certain Rights and Remedies}}'''=== |