Template:ISDA New York Law Credit Support Annex 1994 3: Difference between revisions

From The Jolly Contrarian
Jump to navigation Jump to search
(Created page with "Para {{nycsaprov|3}} '''{{nycsaprov|Credit Support Obligations}}'''<br> {{nycsaprov|3(a)}} '''{{nycsaprov|Delivery Amount}}'''. Subject to Paragraphs 4 and 5, upon a demand ma...")
 
(Replaced content with "Para {{nycsaprov|3}} '''{{nycsaprov|Credit Support Obligations}}'''<br> {{ISDA New York Law Credit Support Annex 1994 3(a)}} {{ISDA New York Law Credit Support Annex 1994...")
Tag: Replaced
 
(2 intermediate revisions by the same user not shown)
Line 1: Line 1:
Para {{nycsaprov|3}} '''{{nycsaprov|Credit Support Obligations}}'''<br>
Para {{nycsaprov|3}} '''{{nycsaprov|Credit Support Obligations}}'''<br>
{{nycsaprov|3(a)}} '''{{nycsaprov|Delivery Amount}}'''. Subject to Paragraphs 4 and 5, upon a demand made by the {{nycsaprov|Secured Party}} on or promptly following a {{nycsaprov|Valuation Date}}, if the {{nycsaprov|Delivery Amount}} for that {{nycsaprov|Valuation Date}} equals or exceeds the {{nycsaprov|Pledgor}}’s {{nycsaprov|Minimum {{nycsaprov|Transfer}} Amount}}, then the {{nycsaprov|Pledgor}} will {{nycsaprov|Transfer}} to the {{nycsaprov|Secured Party}} {{nycsaprov|Eligible Credit Support}} having a {{nycsaprov|Value}} as of the date of {{nycsaprov|Transfer}} at least equal to the applicable {{nycsaprov|Delivery Amount}} (rounded pursuant to Paragraph {{nycsaprov|13}}). Unless otherwise specified in Paragraph {{nycsaprov|13}}, the “'''{{nycsaprov|Delivery Amount}}'''” applicable to the {{nycsaprov|Pledgor}} for any {{nycsaprov|Valuation Date}} will equal the amount by which:<br>
{{ISDA New York Law Credit Support Annex 1994 3(a)}}
:{{nycsaprov|3(a)(i)}} the {{nycsaprov|Credit Support Amount}} exceeds<br>
{{ISDA New York Law Credit Support Annex 1994 3(b)}}
:{{nycsaprov|3(a)(ii)}} the {{nycsaprov|Value}} as of that {{nycsaprov|Valuation Date}} of all {{nycsaprov|Posted Credit Support}} held by the {{nycsaprov|Secured Party}}.<br>
{{nycsaprov|3(b)}} '''{{nycsaprov|Return Amount}}'''. Subject to Paragraphs 4 and 5, upon a demand made by the {{nycsaprov|Pledgor}} on or promptly following a {{nycsaprov|Valuation Date}}, if the {{nycsaprov|Return Amount}} for that {{nycsaprov|Valuation Date}} equals or exceeds the {{nycsaprov|Secured Party}}’s {{nycsaprov|Minimum {{nycsaprov|Transfer}} Amount}}, then the {{nycsaprov|Secured Party}} will {{nycsaprov|Transfer}} to the {{nycsaprov|Pledgor}} {{nycsaprov|Posted Credit Support}} specified by the {{nycsaprov|Pledgor}} in that demand having a {{nycsaprov|Value}} as of the date of {{nycsaprov|Transfer}} as close as practicable to the applicable {{nycsaprov|Return Amount}} (rounded pursuant to Paragraph {{nycsaprov|13}}). Unless otherwise specified in Paragraph {{nycsaprov|13}}, the “'''{{nycsaprov|Return Amount}}'''” applicable to the {{nycsaprov|Secured Party}} for any {{nycsaprov|Valuation Date}} will equal the amount by which: <br>
:{{nycsaprov|3(b)(i)}} the {{nycsaprov|Value}} as of that {{nycsaprov|Valuation Date}} of all {{nycsaprov|Posted Credit Support}} held by the {{nycsaprov|Secured Party}} exceeds<br>
:{{nycsaprov|3(b)(ii)}} (ii) the {{nycsaprov|Credit Support Amount}}.<br>
:“'''{{nycsaprov|Credit Support Amount}}'''” means, unless otherwise specified in Paragraph {{nycsaprov|13}}, for any {{nycsaprov|Valuation Date}} (i) the {{nycsaprov|Secured Party}}’s {{nycsaprov|Exposure}} for that {{nycsaprov|Valuation Date}} plus (ii) the aggregate of all {{nycsaprov|Independent Amount}}s applicable to the {{nycsaprov|Pledgor}}, if any, minus (iii) all {{nycsaprov|Independent Amount}}s applicable to the {{nycsaprov|Secured Party}}, if any, minus (iv) the {{nycsaprov|Pledgor}}’s {{nycsaprov|Threshold}}; provided, however, that the {{nycsaprov|Credit Support Amount}} will be deemed to be zero whenever the calculation of {{nycsaprov|Credit Support Amount}} yields a number less than zero.<br>

Latest revision as of 15:27, 22 January 2020

Para 3 Credit Support Obligations
3(a) Delivery Amount. Subject to Paragraphs 4 and 5, upon a demand made by the Secured Party on or promptly following a Valuation Date, if the Delivery Amount for that Valuation Date equals or exceeds the Pledgor’s Minimum Transfer Amount, then the Pledgor will Transfer to the Secured Party Eligible Credit Support having a Value as of the date of Transfer at least equal to the applicable Delivery Amount (rounded pursuant to Paragraph 13). Unless otherwise specified in Paragraph 13, the “Delivery Amount” applicable to the Pledgor for any Valuation Date will equal the amount by which:

3(a)(i) the Credit Support Amount exceeds
3(a)(ii) the Value as of that Valuation Date of all Posted Credit Support held by the Secured Party.

3(b) Return Amount. Subject to Paragraphs 4 and 5, upon a demand made by the Pledgor on or promptly following a Valuation Date, if the Return Amount for that Valuation Date equals or exceeds the Secured Party’s Minimum Transfer Amount, then the Secured Party will Transfer to the Pledgor Posted Credit Support specified by the Pledgor in that demand having a Value as of the date of Transfer as close as practicable to the applicable Return Amount (rounded pursuant to Paragraph 13). Unless otherwise specified in Paragraph 13, the “Return Amount” applicable to the Secured Party for any Valuation Date will equal the amount by which:

3(b)(i) the Value as of that Valuation Date of all Posted Credit Support held by the Secured Party exceeds
3(b)(ii) the Credit Support Amount.
“Credit Support Amount” means, unless otherwise specified in Paragraph 13, for any Valuation Date (i) the Secured Party’s Exposure for that Valuation Date plus (ii) the aggregate of all Independent Amounts applicable to the Pledgor, if any, minus (iii) all Independent Amounts applicable to the Secured Party, if any, minus (iv) the Pledgor’s Threshold; provided, however, that the Credit Support Amount will be deemed to be zero whenever the calculation of Credit Support Amount yields a number less than zero.
Retrieved from "https://jollycontrarian.com/index.php?title=Template:ISDA_New_York_Law_Credit_Support_Annex_1994_3&oldid=38798"