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Template:ISDA New York Law Credit Support Annex 2016 13: Difference between revisions
Template:ISDA New York Law Credit Support Annex 2016 13 (view source)
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:::{{nyvmcsaprov|13(c)(iii)(A)}} “'''{{nyvmcsaprov|Total Ineligibility Date}}'''” has the meaning specified in Paragraph 11(g), unless otherwise specified here [...]<br> | :::{{nyvmcsaprov|13(c)(iii)(A)}} “'''{{nyvmcsaprov|Total Ineligibility Date}}'''” has the meaning specified in Paragraph 11(g), unless otherwise specified here [...]<br> | ||
:::{{nyvmcsaprov|13(c)(iii)(B)}} “{{nyvmcsaprov|Transfer}} Ineligibility Date” has the meaning specified in Paragraph 11(g), unless otherwise specified here: [...]<br> | :::{{nyvmcsaprov|13(c)(iii)(B)}} “{{nyvmcsaprov|Transfer}} Ineligibility Date” has the meaning specified in Paragraph 11(g), unless otherwise specified here: [...]<br> | ||
::{{nyvmcsaprov|13(c)(iv)}} Credit Support Eligibility Conditions (VM). The following conditions will each be a “'''{{nyvmcsaprov|Credit Support Eligibility Condition (VM)}}'''” for the party specified. Any item will not qualify as {{nyvmcsaprov|Eligible Collateral (VM)}} for a party (as the {{nyvmcsaprov|Pledgor}}) if such item does not satisfy each {{nyvmcsaprov|Credit Support Eligibility Condition (VM))}} applicable to it.<br> | ::{{nyvmcsaprov|13(c)(iv)}} {{nyvmcsaprov|Credit Support Eligibility Conditions (VM)}}. The following conditions will each be a “'''{{nyvmcsaprov|Credit Support Eligibility Condition (VM)}}'''” for the party specified. Any item will not qualify as {{nyvmcsaprov|Eligible Collateral (VM)}} for a party (as the {{nyvmcsaprov|Pledgor}}) if such item does not satisfy each {{nyvmcsaprov|Credit Support Eligibility Condition (VM))}} applicable to it.<br> | ||
::[...]<br> | ::[...]<br> | ||
::[...]<br> | ::[...]<br> | ||
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:::{{nyvmcsaprov|13(c)(vii)(A)}} “'''{{nyvmcsaprov|Minimum Transfer Amount}}'''” means with respect to Party A: $ [...]<br> | :::{{nyvmcsaprov|13(c)(vii)(A)}} “'''{{nyvmcsaprov|Minimum Transfer Amount}}'''” means with respect to Party A: $ [...]<br> | ||
:::“'''{{nyvmcsaprov|Minimum Transfer Amount}}'''” means with respect to Party B: $ [...]<br> | :::“'''{{nyvmcsaprov|Minimum Transfer Amount}}'''” means with respect to Party B: $ [...]<br> | ||
:::{{nyvmcsaprov|13(c)(vii)(B)}} Rounding. The {{nyvmcsaprov|Delivery Amount (VM)}} and the {{nyvmcsaprov|Return Amount (VM)}} will be rounded up and down respectively to the nearest integral multiple of $ [...]<br> | :::{{nyvmcsaprov|13(c)(vii)(B)}} {{nyvmcsaprov|Rounding}}. The {{nyvmcsaprov|Delivery Amount (VM)}} and the {{nyvmcsaprov|Return Amount (VM)}} will be rounded up and down respectively to the nearest integral multiple of $ [...]<br> | ||
::{{nyvmcsaprov|13(c)(viii)}} '''{{nyvmcsaprov|Transfer Timing}}'''. “Regular Settlement Day” has the meaning specified in Paragraph {{nyvmcsaprov|12)}}, unless otherwise specified here: […]<br> | ::{{nyvmcsaprov|13(c)(viii)}} '''{{nyvmcsaprov|Transfer Timing}}'''. “Regular Settlement Day” has the meaning specified in Paragraph {{nyvmcsaprov|12)}}, unless otherwise specified here: […]<br> | ||
{{nyvmcsaprov|13(d)}} '''{{nyvmcsaprov|Valuation and Timing}}'''.<br> | {{nyvmcsaprov|13(d)}} '''{{nyvmcsaprov|Valuation and Timing}}'''.<br> | ||
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{{nyvmcsaprov|13(f)}} '''{{nyvmcsaprov|Substitution}}'''.<br> | {{nyvmcsaprov|13(f)}} '''{{nyvmcsaprov|Substitution}}'''.<br> | ||
::{{nyvmcsaprov|13(f)(i)}} “'''{{nyvmcsaprov|Substitution Date}}'''” has the meaning specified in Paragraph 4(d)(ii), unless otherwise specified here: [...]<br> | ::{{nyvmcsaprov|13(f)(i)}} “'''{{nyvmcsaprov|Substitution Date}}'''” has the meaning specified in Paragraph 4(d)(ii), unless otherwise specified here: [...]<br> | ||
::{{nyvmcsaprov|13(f)(ii)}} '''Consent'''. If specified here as applicable, then the {{nyvmcsaprov|Pledgor}} must obtain the {{nyvmcsaprov|Secured Party}}’s consent for any substitution pursuant to Paragraph 4(d): [applicable/inapplicable]<ref>Parties should consider selecting “applicable” where substitution without consent could give rise to a registration requirement to perfect properly the security interest in Posted Collateral (e.g., where a party to the Annex is the New York branch of an English bank)</ref><br> | ::{{nyvmcsaprov|13(f)(ii)}} '''{{nyvmcsaprov|Consent}}'''. If specified here as applicable, then the {{nyvmcsaprov|Pledgor}} must obtain the {{nyvmcsaprov|Secured Party}}’s consent for any substitution pursuant to Paragraph 4(d): [applicable/inapplicable]<ref>Parties should consider selecting “applicable” where substitution without consent could give rise to a registration requirement to perfect properly the security interest in Posted Collateral (e.g., where a party to the Annex is the New York branch of an English bank)</ref><br> | ||
{{nyvmcsaprov|13(g)}} '''{{nyvmcsaprov|Dispute Resolution}}'''.<br> | {{nyvmcsaprov|13(g)}} '''{{nyvmcsaprov|Dispute Resolution}}'''.<br> | ||
::{{nyvmcsaprov|13(g)(i)}} “'''{{nyvmcsaprov|Resolution Time}}'''” means 1:{{nyvmcsaprov|00}} p.m., New York time, on the {{nyvmcsaprov|Local Business Day}} following the date on which the notice is given that gives rise to a dispute under Paragraph 5, unless otherwise specified here: [...]<br> | ::{{nyvmcsaprov|13(g)(i)}} “'''{{nyvmcsaprov|Resolution Time}}'''” means 1:{{nyvmcsaprov|00}} p.m., New York time, on the {{nyvmcsaprov|Local Business Day}} following the date on which the notice is given that gives rise to a dispute under Paragraph 5, unless otherwise specified here: [...]<br> | ||
::{{nyvmcsaprov|13(g)(ii)}} '''{{nyvmcsaprov|Value}}'''. For the purpose of Paragraphs 5(iv)(A)(3) and 5(iv)(B), the {{nyvmcsaprov|Value}} of {{nyvmcsaprov|Posted Credit Support (VM)}} will be calculated as follows: [...]<br> | ::{{nyvmcsaprov|13(g)(ii)}} '''{{nyvmcsaprov|Value}}'''. For the purpose of Paragraphs 5(iv)(A)(3) and 5(iv)(B), the {{nyvmcsaprov|Value}} of {{nyvmcsaprov|Posted Credit Support (VM)}} will be calculated as follows: [...]<br> | ||
::{{nyvmcsaprov|13(g)(iii)}} '''Alternative'''. The provisions of Paragraph 5 will apply, unless an alternative {{nyvmcsaprov|Dispute Resolution}} procedure is specified here: [...]<br> | ::{{nyvmcsaprov|13(g)(iii)}} '''{{nyvmcsaprov|Alternative}}'''. The provisions of Paragraph 5 will apply, unless an alternative {{nyvmcsaprov|Dispute Resolution}} procedure is specified here: [...]<br> | ||
{{nyvmcsaprov|13(h)}} '''{{nyvmcsaprov|Holding and Using Posted Collateral (VM)}}'''.<br> | {{nyvmcsaprov|13(h)}} '''{{nyvmcsaprov|Holding and Using Posted Collateral (VM)}}'''.<br> | ||
::{{nyvmcsaprov|13(h)(i)}} '''{{nyvmcsaprov|Eligibility to Hold Posted Collateral (VM); Custodians (VM)}}'''. Party A and its {{nyvmcsaprov|Custodian (VM)}} will be entitled to hold {{nyvmcsaprov|Posted Collateral (VM)}} pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:<br> | ::{{nyvmcsaprov|13(h)(i)}} '''{{nyvmcsaprov|Eligibility to Hold Posted Collateral (VM); Custodians (VM)}}'''. Party A and its {{nyvmcsaprov|Custodian (VM)}} will be entitled to hold {{nyvmcsaprov|Posted Collateral (VM)}} pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:<br> | ||
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::{{nyvmcsaprov|13(i)(iv)}} '''{{nyvmcsaprov|Alternative to Interest Amount (VM) and Interest Payment (VM)}}'''. The provisions of Paragraph 6(d)(ii) will apply, unless otherwise specified here: [...]<br> | ::{{nyvmcsaprov|13(i)(iv)}} '''{{nyvmcsaprov|Alternative to Interest Amount (VM) and Interest Payment (VM)}}'''. The provisions of Paragraph 6(d)(ii) will apply, unless otherwise specified here: [...]<br> | ||
{{nyvmcsaprov|13(j)}} '''{{nyvmcsaprov|Credit Support Offsets}}'''. If specified here as applicable, then the “{{nyvmcsaprov|Credit Support Offsets}}” provisions in Paragraph 11(j) of this Annex will apply: [applicable/inapplicable].<br> | {{nyvmcsaprov|13(j)}} '''{{nyvmcsaprov|Credit Support Offsets}}'''. If specified here as applicable, then the “{{nyvmcsaprov|Credit Support Offsets}}” provisions in Paragraph 11(j) of this Annex will apply: [applicable/inapplicable].<br> | ||
{{nyvmcsaprov|13(k)}} '''{{ | {{nyvmcsaprov|13(k)}} '''{{nyvmcsaprov|Additional Representations}}'''.<br> | ||
[Party A/Party B] represents to the other party (which representation(s) will be deemed to be repeated as of each date on which it, as the {{nyvmcsaprov|Pledgor}}, {{nyvmcsaprov|Transfer}}s {{nyvmcsaprov|Eligible Collateral (VM)}}) that: […]<br> | [Party A/Party B] represents to the other party (which representation(s) will be deemed to be repeated as of each date on which it, as the {{nyvmcsaprov|Pledgor}}, {{nyvmcsaprov|Transfer}}s {{nyvmcsaprov|Eligible Collateral (VM)}}) that: […]<br> | ||
{{nyvmcsaprov|13(l)}} '''{{nyvmcsaprov|Other Eligible Support (VM) and Other Posted Support (VM)}}'''.<br> | {{nyvmcsaprov|13(l)}} '''{{nyvmcsaprov|Other Eligible Support (VM) and Other Posted Support (VM)}}'''.<br> | ||