82,893
edits
Template:ISDA English Law Credit Support Annex 2016 2(b): Difference between revisions
Template:ISDA English Law Credit Support Annex 2016 2(b) (view source)
Revision as of 15:06, 22 February 2023
, 22 February 2023no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{vmcsaprov|2(b)}} '''{{vmcsaprov|Return Amount (VM)}}'''. Subject to Paragraphs {{vmcsaprov|3}} and {{vmcsaprov|4}}, upon a demand made by the {{vmcsaprov|Transferor}} on or promptly following a {{vmcsaprov|Valuation Date}}, if the {{vmcsaprov|Return Amount (VM)}} for that {{vmcsaprov|Valuation Date}} equals or exceeds the {{vmcsaprov|Transferee}}’s {{vmcsaprov|Minimum Transfer Amount}}, then the {{vmcsaprov|Transferee}} will transfer to the {{vmcsaprov|Transferor}} {{vmcsaprov|Equivalent Credit Support (VM)}} specified by the {{vmcsaprov|Transferor}} in that demand having a {{vmcsaprov|Value}} as of the date of transfer as close as practicable to the applicable {{vmcsaprov|Return Amount (VM)}} (rounded pursuant to Paragraph {{vmcsaprov|11(c)(vi)(B)}}) and the {{vmcsaprov|Credit Support Balance (VM)}} will, upon such transfer, be reduced accordingly. Unless otherwise specified in Paragraph {{vmcsaprov|11(c)(i)(B)}}, the “{{vmcsaprov|Return Amount (VM)}}” applicable to the {{vmcsaprov|Transferee}} for any {{vmcsaprov|Valuation Date}} will equal the amount by which: <br> | {{vmcsaprov|2(b)}} '''{{vmcsaprov|Return Amount (VM)}}'''. Subject to Paragraphs {{vmcsaprov|3}} and {{vmcsaprov|4}}, upon a demand made by the {{vmcsaprov|Transferor}} on or promptly following a {{vmcsaprov|Valuation Date}}, if the {{vmcsaprov|Return Amount (VM)}} for that {{vmcsaprov|Valuation Date}} equals or exceeds the {{vmcsaprov|Transferee}}’s {{vmcsaprov|Minimum Transfer Amount}}, then the {{vmcsaprov|Transferee}} will transfer to the {{vmcsaprov|Transferor}} {{vmcsaprov|Equivalent Credit Support (VM)}} specified by the {{vmcsaprov|Transferor}} in that demand having a {{vmcsaprov|Value}} as of the date of transfer as close as practicable to the applicable {{vmcsaprov|Return Amount (VM)}} (rounded pursuant to Paragraph {{vmcsaprov|11(c)(vi)(B)}}) and the {{vmcsaprov|Credit Support Balance (VM)}} will, upon such transfer, be reduced accordingly. Unless otherwise specified in Paragraph {{vmcsaprov|11(c)(i)(B)}}, the “'''{{vmcsaprov|Return Amount (VM)}}'''” applicable to the {{vmcsaprov|Transferee}} for any {{vmcsaprov|Valuation Date}} will equal the amount by which: <br> | ||
:(i) the {{vmcsaprov|Value}} as of that {{vmcsaprov|Valuation Date}} of the {{vmcsaprov|Transferor}}’s {{vmcsaprov|Credit Support Balance (VM)}} (adjusted to include any prior {{vmcsaprov|Delivery Amount (VM)}} and to exclude any prior {{vmcsaprov|Return Amount (VM)}}, the transfer of which, in either case, has not yet been completed and for which the relevant {{vmcsaprov|Regular Settlement Day}} falls on or after such {{vmcsaprov|Valuation Date}}) <br> | :(i) the {{vmcsaprov|Value}} as of that {{vmcsaprov|Valuation Date}} of the {{vmcsaprov|Transferor}}’s {{vmcsaprov|Credit Support Balance (VM)}} (adjusted to include any prior {{vmcsaprov|Delivery Amount (VM)}} and to exclude any prior {{vmcsaprov|Return Amount (VM)}}, the transfer of which, in either case, has not yet been completed and for which the relevant {{vmcsaprov|Regular Settlement Day}} falls on or after such {{vmcsaprov|Valuation Date}}) <br> | ||
:exceeds <br> | :exceeds <br> | ||
:(ii) the {{vmcsaprov|Transferee}}’s {{vmcsaprov|Exposure}}. <br> | :(ii) the {{vmcsaprov|Transferee}}’s {{vmcsaprov|Exposure}}. <br> | ||