Template:ISDA New York Law Credit Support Annex 1994 13

Para 13 Elections and Variables

13(a) “Security Interest for Obligations”. The term “Obligations” as used in this Annex includes the following additional obligations:
With respect to Party A: [SPECIFY] With respect to Party B: [SPECIFY].
13(b) Credit Support Obligations.

13(b)(i) Delivery Amount, Return Amount and Credit Support Amount.

(A) “Delivery Amount” has the meaning specified in Paragraph 3(a), unless otherwise specified here: [SPECIFY]

(B) “Return Amount” has the meaning specified in Paragraph 3(b), unless otherwise specified here: [SPECIFY]

(C) “Credit Support Amount” has the meaning specified in Paragraph 3, unless otherwise specified here: [SPECIFY]

13(b)(ii) Eligible Collateral. The following items will qualify as “Eligible Collateral” for the party specified:

Party A Party B Valuation Percentage

(A) Cash

(B) negotiable debt obligations issued by the U.S. Treasury Department having an original maturity at issuance of not more than one year (“Treasury Bills”)

(C) negotiable debt obligations issued by the U.S. Treasury Department having an original maturity at issuance of more than one year but not more than 10 years (“Treasury Notes”)negotiable debt obligations issued by the U.S. Treasury Department having an original maturity at issuance of more than 10 years (“Treasury Bonds”)

(D) other:

13(b)(iii) Other Eligible Support. The following items will qualify as “Other Eligible Support” for the party specified:

Party A Party B

(A) [SPECIFY] [ ] [ ]

(B) [SPECIFY] [ ] [ ]<be>

13(b)(iv) Thresholds.

(A) “Independent Amount” means with respect to Party A: $ [SPECIFY]
“Independent Amount” means with respect to Party B: $ [SPECIFY]

(B) “Threshold” means with respect to Party A: $ [SPECIFY]
“Threshold” means with respect to Party B: $ [SPECIFY]

(C) “Minimum Transfer Amount” means with respect to Party A: $ [SPECIFY]
“Minimum Transfer Amount” means with respect to Party B: $ [SPECIFY]

(D) Rounding. The Delivery Amount and the Return Amount will be rounded [down to the nearest integral multiple of $. . . . /up and down to the nearest integral multiple of $. . . ., respectively*].

13(c) Valuation and Timing.

13(c)(i) “Valuation Agent” means, for purposes of Paragraphs 3 and 5, the party making the demand under Paragraph 3, and, for purposes of Paragraph 6(d), the Secured Party receiving or deemed to receive the Distributions or the Interest Amount, as applicable, unless otherwise specified here: [SPECIFY]

13(c)(ii) “Valuation Date” means: [SPECIFY]

13(c)(iii) “Valuation Time” means:

[ ] the close of business in the city of the Valuation Agent on the Valuation Date or date of calculation, as applicable;

[ ] the close of business on the Local Business Day before the Valuation Date or date of calculation, as applicable;

provided that the calculations of Value and Exposure will be made as of approximately the same time on the same date.

13(c)(iv) “Notification Time” means 1:00 p.m., New York time, on a Local Business Day, unless otherwise specified here: [SPECIFY]

13(d) Conditions Precedentand Secured Party’s Rights and Remedies . The following Termination Event(s) will be a “Specified Condition” for the party specified (that party being the Affected Party if the Termination Event occurs with respect to that party):

	Party A	Party B
Illegality	[SPECIFY]	[SPECIFY]
Tax Event	[SPECIFY]	[SPECIFY]
Tax Event Upon Merger	[SPECIFY]	[SPECIFY]
Credit Event Upon Merger	[SPECIFY]	[SPECIFY]
Additional Termination Event(s):	[SPECIFY]	[SPECIFY]

13(e) Substitution.

13(e)(i) “Substitution Date” has the meaning specified in Paragraph 4(d)(ii), unless otherwise specified here: [SPECIFY]

13(e)(ii) Consent. If specified here as applicable, then the Pledgor must obtain the Secured Party’s consent for any substitution pursuant to Paragraph 4(d): [applicable/inapplicable *]2

13(f) Dispute Resolution.

13(f)(i) “Resolution Time” means 1:00 p.m., New York time, on the Local Business Day following the date on which the notice is given that gives rise to a dispute under Paragraph 5, unless otherwise specified here: [SPECIFY]

13(f)(ii) Value. For the purpose of Paragraphs 5(i)(C) and 5(ii), the Value of Posted Credit Support will be calculated as follows: [SPECIFY]

13(f)(iii) Alternative. The provisions of Paragraph 5 will apply, unless an alternative dispute resolution procedure is specified here: [SPECIFY].

13(g) Holding and Using Posted Collateral.

(i) Eligibility to Hold Posted Collateral; Custodians.

Party A and its Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:

(1) Party A is not a Defaulting Party.

(2) Posted Collateral may be held only in the following jurisdictions: [SPECIFY]

(3) [SPECIFY]

Initially, the Custodian for Party A is [SPECIFY]

Party B and its Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:

(1) Party B is not a Defaulting Party.

(2) Posted Collateral may be held only in the following jurisdictions: [SPECIFY]

(3) [SPECIFY]

Initially, the Custodian for Party B is [SPECIFY]

(ii) Use of Posted Collateral. The provisions of Paragraph 6(c) will not apply to the [party/parties* ] specified here:

[ ] Party Av

[ ] Party B

and [that party/those parties * ] will not be permitted to: [SPECIFY]

13(h) Distributions and Interest Amount.

(i) Interest Rate. The “Interest Rate” will be: [SPECIFY].

(ii) Transfer of Interest Amount. The Transfer of the Interest Amount will be made on the last Local Business Day of each calendar month and on any Local Business Day that Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3 (b), unless otherwise specified here: [SPECIFY]

(iii) Alternative to Interest Amount. The provisions of Paragraph 6(d)(ii) will apply, unless otherwise specified here: [SPECIFY]

13(i) Additional Representations.

[Party A/Party B*] represents to the other party (which representation(s) will be deemed to be repeated as of each date on which it, as the Pledgor, Transfers Eligible Collateral) that:

13(i)(ii) [SPECIFY]

13(i)(iii) [SPECIFY]

13(j) Other Eligible Support and Posted Support.

13(j)(i) “Value” with respect to Other Eligible Support and Posted Support means:[ SPECIFY]

13(j)(ii) “Transfer” with respect to Other Eligible Support and Posted Support means:[SPECIFY]

13(k) Demands and Notices.

All demands, specifications and notices under this Annex will be made pursuant to the Notices Section of this Agreement, unless otherwise specified here:

Party A: [SPECIFY] [SPECIFY] Party B: [SPECIFY] [SPECIFY]

13(l) Addresses for Transfers.
Party A: [SPECIFY] [SPECIFY] Party B: [SPECIFY] [SPECIFY]
13(m) Other Provisions.