Template:ISDA New York Law Credit Support Annex 2016 2: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "===Paragraph {{nyvmcsaprov|2}} '''{{nyvmcsaprov|Security Interest}}'''=== Each party, as the {{nyvmcsaprov|Pledgor}}, hereby pledges to the other party, as the {{nyvmcsaprov|S...") |
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Paragraph {{nyvmcsaprov|2}} '''{{nyvmcsaprov|Security Interest}}'''<br> | |||
Each party, as the {{nyvmcsaprov|Pledgor}}, hereby pledges to the other party, as the {{nyvmcsaprov|Secured Party}}, as security for its {{isdaprov|Obligations}}, and grants to the {{nyvmcsaprov|Secured Party}} a first priority continuing security interest in, lien on and right of {{nyvmcsaprov|Set-off}} against all {{nyvmcsaprov|Posted Collateral (VM)}} {{nyvmcsaprov|Transfer}}red to or received by the {{nyvmcsaprov|Secured Party}} hereunder. Upon the {{nyvmcsaprov|Transfer}} by the {{nyvmcsaprov|Secured Party}} to the {{nyvmcsaprov|Pledgor}} of {{nyvmcsaprov|Posted Collateral (VM)}}, the security interest and lien granted hereunder on that {{nyvmcsaprov|Posted Collateral (VM)}} will be released immediately and, to the extent possible, without any further action by either party.<br> | Each party, as the {{nyvmcsaprov|Pledgor}}, hereby pledges to the other party, as the {{nyvmcsaprov|Secured Party}}, as security for its {{isdaprov|Obligations}}, and grants to the {{nyvmcsaprov|Secured Party}} a first priority continuing security interest in, lien on and right of {{nyvmcsaprov|Set-off}} against all {{nyvmcsaprov|Posted Collateral (VM)}} {{nyvmcsaprov|Transfer}}red to or received by the {{nyvmcsaprov|Secured Party}} hereunder. Upon the {{nyvmcsaprov|Transfer}} by the {{nyvmcsaprov|Secured Party}} to the {{nyvmcsaprov|Pledgor}} of {{nyvmcsaprov|Posted Collateral (VM)}}, the security interest and lien granted hereunder on that {{nyvmcsaprov|Posted Collateral (VM)}} will be released immediately and, to the extent possible, without any further action by either party.<br> | ||
Latest revision as of 10:27, 5 May 2024
Paragraph 2 Security Interest
Each party, as the Pledgor, hereby pledges to the other party, as the Secured Party, as security for its Obligations, and grants to the Secured Party a first priority continuing security interest in, lien on and right of Set-off against all Posted Collateral (VM) Transferred to or received by the Secured Party hereunder. Upon the Transfer by the Secured Party to the Pledgor of Posted Collateral (VM), the security interest and lien granted hereunder on that Posted Collateral (VM) will be released immediately and, to the extent possible, without any further action by either party.