Template:Nutshell 2018 CSD 3(c)(iii): Difference between revisions

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-{{imcsdprov|3(c)(iii)}} '''{{imcsdprov|Margin Approach}}'''.  The parties will agree in Paragraph {{imcsdprov|13}}, one of the following “'''{{imcsdprov|Margin Approach}}es'''” to govern 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:
 {{Nutshell 2018 CSD 3(c)(iii)(A)}}
 {{Nutshell 2018 CSD 3(c)(iii)(B)}}
 {{Nutshell 2018 CSD 3(c)(iii)(C)}}
-:(C)	If the “'''{{imcsdprov|Greater of Margin Flow (IM/IA) Approach}}'''” is specified as applicable in Paragraph {{imcsdprov|13}}, the following provisions will apply:
-::(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.
-::(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>