Template:ISDA New York Law Credit Support Annex 2016 Valuation Date and Time

“Valuation Date” means, unless otherwise specified in Paragraph 13, each day from, and including, the date of this Annex, that is a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in at least one Valuation Date Location for Party A and at least one Valuation Date Location for Party B.

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“Valuation Time” means, unless otherwise specified in Paragraph 13, the time as of which the Valuation Agent computes its end of day valuations of derivatives Transactions in the ordinary course of its business (or such other commercially reasonable convenient time on the relevant day as the Valuation Agent may determine).

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13(d) Valuation and Timing.

13(d)(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, as applicable, unless otherwise specified here: [SPECIFY]

13(d)(ii) “Valuation Date” has the meaning specified in Paragraph 12), unless otherwise specified here: [SPECIFY]

For purposes of determining the Valuation Date and clause (iii) of the definition of “Local Business Day” in Paragraph 12), “Valuation Date Location”* means, with respect to each party, each city, region, or country specified below:

Party A: [SPECIFY]

Party B: [SPECIFY]

13(d)(iii) “Valuation Time” has the meaning specified in Paragraph 12), unless otherwise specified here: [SPECIFY]

13(d)(iv) “Notification Time” means 10:00 a.m., New York time, on a Local Business Day, unless otherwise specified here: [SPECIFY]