82,892
edits
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
Line 1: | Line 1: | ||
{{ | {{vmcsaprov|3(a)}} '''{{vmcsaprov|Transfers}}'''. All transfers under this Annex of any {{vmcsaprov|Eligible Credit Support (VM)}}, {{vmcsaprov|Equivalent Credit Support (VM)}}, {{vmcsaprov|Interest Payment (VM)}} or {{vmcsaprov|Equivalent Distribution}}s will be made in accordance with the instructions of the {{vmcsaprov|Transferee}} or {{vmcsaprov|Transferor}}, as applicable, and will be made: <br /> | ||
:{{ | :{{vmcsaprov|3(a)(i)}} in the case of cash, by transfer into one or more bank accounts specified by the recipient; <br /> | ||
:{{ | :{{vmcsaprov|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 transfer of the transferring party’s legal and beneficial title to the recipient; and <br /> | ||
:{{ | :{{vmcsaprov|3(a)(iii)}} in the case of securities which the parties have agreed will be delivered by book-entry, by causing the relevant depository institution (s) or other securities intermediaries to make changes to their books and records sufficient to result in a legally effective transfer of the transferring party’s legal and beneficial title to the recipient or its agent. <br /> | ||
Subject to Paragraph {{ | Subject to Paragraph {{vmcsaprov|4}}, and unless otherwise specified in Paragraph {{vmcsaprov|11}}, if a demand for the transfer of {{vmcsaprov|Eligible Credit Support (VM)}} or {{vmcsaprov|Equivalent Credit Support (VM)}} is received by the {{vmcsaprov|Notification Time}}, then the relevant transfer will be made not later than the close of business on the {{vmcsaprov|Regular Settlement Day}} relating to the date such demand is received; if a demand is received after the {{vmcsaprov|Notification Time}}, then the relevant transfer will be made not later than the close of business on the {{vmcsaprov|Regular Settlement Day}} relating to the day after the date such demand is received. <br /> |