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: | :[[4(a)(4) - VM CSA Provision|(4)]] if they fail to resolve the dispute by the {{vmcsaprov|Resolution Time}}, then: | ||
::(i) in the case of a dispute involving a {{ | ::(i) in the case of a dispute involving a {{vmcsaprov|Delivery Amount (VM)}} or {{vmcsaprov|Return Amount (VM)}}, unless otherwise specified in Paragraph 11, the {{vmcsaprov|Valuation Agent}} will recalculate the {{vmcsaprov|Exposure}} and the {{vmcsaprov|Value}} as of the Recalculation Date by: | ||
:::(A) utilising any calculations of that part of the {{ | :::(A) utilising any calculations of that part of the {{vmcsaprov|Exposure}} attributable to the {{vmcsaprov|Covered Transaction}}s that the parties have agreed are not in dispute; | ||
:::(B) (I) if this Agreement is a 1992 ISDA Master Agreement, calculating the {{ | :::(B) (I) if this Agreement is a 1992 ISDA Master Agreement, calculating the {{vmcsaprov|Exposure}} for the {{vmcsaprov|Covered Transaction}}s in dispute by seeking four actual quotations at midmarket from Reference Market-makers for purposes of calculating Market Quotation, and taking the arithmetic average of those obtained, or (II) if this Agreement is an ISDA 2002 Master Agreement or a 1992 ISDA Master Agreement in which the definition of {{isdaprov|Loss}} [[and/or]] {{isdaprov|Market Quotation}} has been amended (including where such amendment has occurred pursuant to the terms of a separate agreement or protocol) to reflect the definition of {{isdaprov|Close-out Amount}} from the pre-printed form of the ISDA 2002 Master Agreement as published by ISDA, calculating that part of the {{vmcsaprov|Exposure}} attributable to the {{vmcsaprov|Covered Transaction}}s in dispute by seeking four actual quotations at mid-market from third parties for purposes of calculating the relevant {{isdaprov|Close-out Amount}}, and taking the arithmetic average of those obtained; [[provided that]], [[in either case]], if four quotations are not available for a particular {{vmcsaprov|Covered Transaction}}, then fewer than four quotations may be used for that {{vmcsaprov|Covered Transaction}}, and if no quotations are available for a particular {{vmcsaprov|Covered Transaction}}, then the {{vmcsaprov|Valuation Agent}}’s original calculations will be used for the {{vmcsaprov|Covered Transaction}}; and | ||
:::(C) utilising the procedures specified in Paragraph {{ | :::(C) utilising the procedures specified in Paragraph {{vmcsaprov|11(f)(ii)}} for calculating the {{vmcsaprov|Value}}, if disputed, of the outstanding {{vmcsaprov|Credit Support Balance (VM)}}; | ||
::(ii) in the case of a dispute involving the {{ | ::(ii) in the case of a dispute involving the {{vmcsaprov|Value}} of any transfer of {{vmcsaprov|Eligible Credit Support (VM)}} or {{vmcsaprov|Equivalent Credit Support (VM)}}, the {{vmcsaprov|Valuation Agent}} will recalculate the {{vmcsaprov|Value}} as of the date of transfer pursuant to Paragraph {{vmcsaprov|11(f)(ii)}}. <br> |