Value - NY VM CSA Provision

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In a Nutshell Section Value:

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2016 NY VM CSA full text of Section Value:

Value” means for any Valuation Date or other date for which Value is calculated and subject to Paragraph 5 in the case of a dispute, with respect to:

(i) Eligible Collateral (VM) or Posted Collateral (VM) that is:
(A) an amount of Cash, the Base Currency Equivalent of such amount multiplied by (VP – HFX); and
(B) a security, the Base Currency Equivalent of the bid price obtained by the Valuation Agent multiplied by (VP – HFX), where:
VP equals the applicable Valuation Percentage; and
HFX equals the applicable FX Haircut Percentage;
(ii) Posted Collateral (VM) that consists of items that are not Eligible Collateral (VM) (including any item or any portion of any item that fails to satisfy any (A) Credit Support Eligibility Condition (VM)) applicable to it or (B) applicable Legal Eligibility Requirements), zero; and
(iii) Other Eligible Support (VM) and Other Posted Support (VM), as specified in Paragraph 13.

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Related Agreements
Click here for the text of Section Value in the 1994 New York law CSA
Click here for the text of Section Value in the 1995 English Law CSA
Click here for the text of Section Value in the 2016 English Law VM CSA
Comparisons
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2016 VM CSA and 2016 NY Law VM CSA: click for comparison
1995 CSA and 2016 VM CSA: click for comparison


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Differences between CSA versions

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