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| {{imcsdprov|3(c)(iii)}} '''{{imcsdprov|Margin Approach}}'''. The parties have agreed, in Paragraph {{imcsdprov|13}}, to implement one of the following approaches (each a “'''{{imcsdprov|Margin Approach}}'''”) with respect to the relationship between “'''{{imcsdprov|Margin Amount (IM)}}'''” and “'''{{imcsdprov|Margin Amount (IA)}}'''”. | | {{imcsdprov|3(c)(iii)}} '''{{imcsdprov|Margin Approach}}'''. Based on the “'''{{imcsdprov|Margin Approach}}'''” specified in Paragraph {{imcsdprov|13}} to govern the relationship between “'''{{imcsdprov|Margin Amount (IM)}}'''” and “'''{{imcsdprov|Margin Amount (IA)}}'''”, a {{imcsdprov|Chargor}}’s “'''{{imcsdprov|Credit Support Amount (IM)}}'''” on any {{imcsdprov|Calculation Date (IM)}} will be: |
| :(A) If the “'''{{imcsdprov|Distinct Margin Flow (IM) Approach}}'''” is specified as applicable in Paragraph {{imcsdprov|13}}, the following provisions will apply:
| | {{Nutshell 2018 CSD 3(c)(iii)(A)}} |
| ::(1) “'''{{imcsdprov|Credit Support Amount (IM)}}'''” means, with respect to a party as the {{imcsdprov|Chargor}}, for any {{imcsdprov|Calculation Date (IM)}}, (i) the {{imcsdprov|Margin Amount (IM)}} applicable to the {{imcsdprov|Chargor}}, if any, minus (ii) the {{imcsdprov|Chargor}}’s {{imcsdprov|Threshold (IM)}}; provided, however, that the {{imcsdprov|Credit Support Amount (IM)}} will be deemed to be zero whenever the calculation of the {{imcsdprov|Credit Support Amount (IM)}} yields a number less than zero.
| | {{Nutshell 2018 CSD 3(c)(iii)(B)}} |
| ::(2) No Amendment to {{imcsdprov|Obligations}} in respect of {{imcsdprov|Margin Amount (IA)}}. The posting obligation of a {{imcsdprov|Chargor}} in respect of any amount that constitutes a {{imcsdprov|Margin Amount (IA)}} under any {{imcsdprov|Other CSA}} shall not be affected or amended in any way by the provisions of this Deed. | | {{Nutshell 2018 CSD 3(c)(iii)(C)}} |
| {{ISDA English Law Credit Support Deed 2018 3(c)(iii)(B)}} | |
| :(C) If the “'''{{imcsdprov|Greater of Margin Flow (IM/IA) Approach}}'''” is specified as applicable in Paragraph {{imcsdprov|13}}, the following provisions will apply:
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| ::(1) “'''{{imcsdprov|Credit Support Amount (IM)}}'''” means, with respect to a party as the {{imcsdprov|Chargor}}, for any {{imcsdprov|Calculation Date (IM)}}, the greater of (i)(A) the {{imcsdprov|Margin Amount (IM)}} applicable to the {{imcsdprov|Chargor}}, if any, minus (B) the {{imcsdprov|Chargor}}’s {{imcsdprov|Threshold (IM)}} and (ii) the {{imcsdprov|Margin Amount (IA)}}; provided, however, that the {{imcsdprov|Credit Support Amount (IM)}} will be deemed to be zero whenever the calculation of the {{imcsdprov|Credit Support Amount (IM)}} yields a number less than zero.
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| ::(2) Amendment to {{imcsdprov|Obligations}} in respect of {{imcsdprov|Margin Amount (IA)}}. The posting obligation of a {{imcsdprov|Chargor}} in respect of any amount that constitutes a {{imcsdprov|Margin Amount (IA)}} under any {{imcsdprov|Other CSA}}, other than such obligations of a {{imcsdprov|Chargor}} under this Deed, shall be reduced to zero. <br>
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