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Template:Nutshell 2016 NY CSA 6(c): Difference between revisions
Template:Nutshell 2016 NY CSA 6(c) (view source)
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{{nyvmcsaprov|6(c)}} '''{{nyvmcsaprov|Use of Posted Collateral (VM)}}'''. Unless otherwise agreed specified in Paragraph {{nyvmcsaprov|13}} and without limiting the parties’ rights and obligations (especially remedies under Paragraph {{nyvmcsaprov|8}}), while the {{nyvmcsaprov|Secured Party}} is not effectively in default, it may, notwithstanding Section 9-207 of the [[Uniform Commercial Code]] | {{nyvmcsaprov|6(c)}} '''{{nyvmcsaprov|Use of Posted Collateral (VM)}}'''. Unless otherwise agreed specified in Paragraph {{nyvmcsaprov|13}} and without limiting the parties’ rights and obligations (especially remedies under Paragraph {{nyvmcsaprov|8}}), while the {{nyvmcsaprov|Secured Party}} is not effectively in default, it may, notwithstanding Section 9-207 of the [[Uniform Commercial Code]];<br> | ||
:{{nyvmcsaprov|6(c)(i)}} '''Rehypothecate''': [[rehypothecate]], sell outright or otherwise deal with any {{nyvmcsaprov|Posted Collateral (VM)}} it holds absolutely; and<br> | :{{nyvmcsaprov|6(c)(i)}} '''Rehypothecate''': [[rehypothecate]], sell outright or otherwise deal with any {{nyvmcsaprov|Posted Collateral (VM)}} it holds absolutely; and<br> | ||
:{{nyvmcsaprov|6(c)(ii)}} '''Register''': register {{nyvmcsaprov|Posted Collateral (VM)}} in its own or its {{nyvmcsaprov|Custodian (VM)}}’s name.<br> | :{{nyvmcsaprov|6(c)(ii)}} '''Register''': register {{nyvmcsaprov|Posted Collateral (VM)}} in its own or its {{nyvmcsaprov|Custodian (VM)}}’s name.<br> | ||
References to {{nyvmcsaprov|Transfer}}ing {{nyvmcsaprov|Eligible Credit Support (VM)}} or {{nyvmcsaprov|Posted Credit Support (VM)}} under this {{nyvmcsa}} will be construed to apply as if the {{nyvmcsaprov|Secured Party}} still holds all {{nyvmcsaprov|Posted Collateral (VM)}} even where in fact it doesn’t.<br> | References to {{nyvmcsaprov|Transfer}}ing {{nyvmcsaprov|Eligible Credit Support (VM)}} or {{nyvmcsaprov|Posted Credit Support (VM)}} under this {{nyvmcsa}} will be construed to apply as if the {{nyvmcsaprov|Secured Party}} still holds all {{nyvmcsaprov|Posted Collateral (VM)}} even where in fact it doesn’t.<br> | ||