Template:ISDA English Law Credit Support Annex 1995 7

Each party represents to the other party (which representation will be deemed to be repeated as of each date
on which it transfers Eligible Credit Support, Equivalent Credit Support or Equivalent Distributions) that it
is the sole owner of or otherwise has the right to transfer all Eligible Credit Support, Equivalent Credit
Support or Equivalent Distributions it transfers to the other party under this Annex, free and clear of any
security interest, lien, encumbrance or other restriction (other than a lien routinely imposed on all securities
in a relevant clearance system).