Template:Nutshell 2016 NY CSA 10(b)
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10(b) Posted Credit Support (VM). When it finds out about them the Pledgor must promptly pay any taxes imposed on Posted Credit Support (VM) while the Secured Party actually holds it in custody, even if the Secured Party later reuses it under Paragraph 6(c). This obligation doesn’t extend to taxes arising from the act of reuse under Paragraph 6(c).