Template:ISDA English Law Credit Support Annex 2016 5(c)(ii): Difference between revisions

:{{csaprov|5(c)(ii)}} '''{{csaprov|Interest Payment (VM)}}'''. Unless otherwise specified in Paragraph at the times specified in Paragraph {{csaprov|11(g)(iv)}}:  

{{ISDA English Law Credit Support Annex 2016 5(c)(ii)(A)}}

::(B) if “'''{{csaprov|Interest Adjustment}}'''” is specified as applicable in Paragraph {{csaprov|11(g)(ii)}}, the {{csaprov|Credit Support Balance (VM)}} will be adjusted by the Transferee, at the times specified in Paragraph {{csaprov|11(g)(ii)}} and on any {{isdaprov|Early Termination Date}} referred to in Paragraph 6 as follows:

:::(I) if the {{isdaprov|Interest Amount (VM)}} for an {{isdaprov|Interest Period }}  is a positive number, the {{isdaprov|Interest Amount (VM)}} will constitute an addition of an amount of cash in the {{csaprov|Base Currency}} comprised in the {{csaprov|Credit Support Balance (VM)}}; and

:::(II) if the {{isdaprov|Interest Amount (VM)}} for an {{isdaprov|Interest Period }}  is a negative number, the {{isdaprov|Interest Amount (VM)}} will constitute a reduction to the amount of cash in the {{csaprov|Base Currency}} comprised in the {{csaprov|Credit Support Balance (VM)}} in an amount (such amount, the “{{csaprov|Interest Adjustment Reduction Amount (VM)}}”) equal to the absolute value of the {{isdaprov|Interest Amount (VM)}}; provided that if the amount in the {{csaprov|Credit Support Balance (VM)}} which is comprised of cash in the {{csaprov|Base Currency}} is less than the {{csaprov|Interest Adjustment Reduction Amount (VM)}}, such reduction will only be to the extent of the amount of such cash comprised in the {{csaprov|Credit Support Balance (VM)}} and the Transferor will be obliged to transfer the remainder of the {{csaprov|Interest Adjustment Reduction Amount (VM)}} to the Transferee on the day that such reduction occurred.