Template:ISDA New York Law Credit Support Annex 2016 12: Difference between revisions

Template:ISDA New York Law Credit Support Annex 2016 12 (view source)

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 “'''{{nyvmcsaprov|Interest Rate (VM)}}'''” means, with respect to an {{nyvmcsaprov|Eligible Currency}}, the rate specified in Paragraph {{nyvmcsaprov|13 }} for that currency.<br>
 “'''{{nyvmcsaprov|Legal Eligibility Requirements}}'''” has the meaning specified in Paragraph 11(g). “'''{{nyvmcsaprov|Legal Ineligibility Notice}}'''” has the meaning specified in Paragraph 11(g). <br>
-“'''{{nyvmcsaprov|Local Business Day}}'''”, unless otherwise specified in Paragraph {{nyvmcsaprov|13}}, means:<br>
+{{ISDA New York Law Credit Support Annex 2016 12 Local Business Day}}
-:{{nyvmcsaprov|(i)}} in relation to a {{nyvmcsaprov|Transfer}} of {{nyvmcsaprov|Cash}} or other property (other than securities) under this Annex, a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in the place where the relevant account is located and, if different, in the principal financial center, if any, of the currency of such payment;<br>
-:{{nyvmcsaprov|(ii)}} in relation to a {{nyvmcsaprov|Transfer}} of securities under this Annex, a day on which the clearance system agreed between the parties for delivery of the securities is open for the acceptance and execution of settlement instructions or, if delivery of the securities is contemplated by other means, a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in the place(s) agreed between the parties for this purpose;<br>
-:{{nyvmcsaprov|(iii)}} in relation to the {{nyvmcsaprov|Resolution Time}}, a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in at least one {{nyvmcsaprov|Valuation Date Location}} for Party A and at least one {{nyvmcsaprov|Valuation Date Location}} for Party B; and<br>
-:{{nyvmcsaprov|(iv)}} in relation to any notice or other communication under this Annex, a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in the place specified in the address for notice most recently provided by the recipient.<br>
 “'''{{nyvmcsaprov|Minimum Transfer Amount}}'''” means, with respect to a party, the amount specified as such for that party in Paragraph 13; if no amount is specified, zero.<br>
 “'''{{nyvmcsaprov|Notification Time}}'''” has the meaning specified in Paragraph {{nyvmcsaprov|13}}.<br>