Template:ISDA English Law Credit Support Annex 1995 3(a): Difference between revisions

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Template:ISDA English Law Credit Support Annex 1995 3(a) (view source)

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-{{csaprov|3(a)}} {{csaprov|Transfers}}. All transfers under this {{csaprov|Annex}} of any {{csaprov|Eligible Credit Support}}, Equivalent Credit <br>Support, {{csaprov|Interest Amount}} or {{csaprov|Equivalent Distributions}} shall be made in accordance with the instructions of <br>the {{csaprov|Transferee}} or {{csaprov|Transferor}}, as applicable, and shall be made: <br>
+{{csaprov|3(a)}} '''{{csaprov|Transfers}}'''. All transfers under this {{csaprov|Annex}} of any {{csaprov|Eligible Credit Support}}, Equivalent Credit Support, {{csaprov|Interest Amount}} or {{csaprov|Equivalent Distributions}} shall be made [[in accordance with]] the instructions of the {{csaprov|Transferee}} or {{csaprov|Transferor}}, as [[applicable]], and shall be made:
-:(i) in the case of cash, by transfer into one or more bank accounts specified by the recipient;<br>
+:{{csaprov|3(a)(i)}} in the case of cash, by transfer into one or more bank accounts specified by the recipient;
-:(ii) in the case of certificated securities which cannot or which the parties have agreed will not <br>be delivered by book-entry, by delivery in appropriate physical form to the recipient or its account <br>accompanied by any duly executed instruments of transfer, transfer tax stamps and any other <br>documents necessary to constitute a legally valid transfer of the transferring party's legal and <br>beneficial title to the recipient; and<br>
+:{{csaprov|3(a)(ii)}} in the case of certificated securities which cannot or which the parties have agreed will not be delivered by book-entry, by delivery in appropriate physical form to the recipient or its account accompanied by any duly executed instruments of transfer, transfer tax stamps and any other documents necessary to constitute a legally valid [[Title transfer|transfer of the transferring party's legal and beneficial title]] to the recipient; and
-:(iii) in the case of securities which the parties have agreed will be delivered by book-entry, by <br>the giving of written instructions (including, for the avoidance of doubt, instructions given by telex, <br>facsimile transmission or electronic messaging system) to the relevant depository institution or <br>other entity specified by the recipient, together with a written copy of the instructions to the <br>recipient, sufficient, if complied with, to result in a legally effective transfer of the transferring <br>party's legal and beneficial title to the recipient. <br>
+:{{csaprov|3(a)(iii)}} in the case of [[securities]] which the parties have agreed will be delivered by book-entry, by the giving of written instructions (including, [[for the avoidance of doubt]], instructions given by telex, facsimile transmission or [[electronic messaging system]]) to the relevant depository institution or other entity specified by the recipient, together with a written copy of the instructions to the recipient, sufficient, if complied with, to result in a legally effective transfer of the transferring party's [[legal and beneficial title]] to the recipient.
-Subject to Paragraph {{csaprov|4}} and unless otherwise specified, if a demand for the transfer of Eligible Credit <br>Support or <brEquivalent Credit Support> is received by the {{csaprov|Notification Time}}, then the relevant transfer will <br>be made not later than the close of business on the {{csaprov|Settlement Day}} relating to the date such demand is <br>received; if a demand is received after the {{csaprov|Notification Time}}, then the relevant transfer will be made not <br>later than the close of business on the {{csaprov|Settlement Day}} relating to the day after the date such demand is <br>received. <br>
+Subject to Paragraph {{csaprov|4}} and unless otherwise specified, if a demand for the transfer of {{prov2|csa|Eligible Credit Support|Eligible Credit}} {{prov2|csa|Eligible Credit Support|Support}} or {{csaprov|Equivalent Credit Support}} is received by the {{csaprov|Notification Time}}, then the relevant transfer will be made not later than the close of business on the {{csaprov|Settlement Day}} relating to the date such demand is received; if a demand is received after the {{csaprov|Notification Time}}, then the relevant transfer will be made not later than the close of business on the {{csaprov|Settlement Day}} relating to the day after the date such demand is received. <br>