1994 ISDA CREDIT SUPPORT ANNEX PDF

This Annex supplements, forms part of, and is subject to, the above-referenced Agreement, is part of its Schedule and is a Credit Support Document under this. 2 ISDA® (d) Substitutions. (i) Unless otherwise specified in Paragraph 13, upon notice to the Secured Party specifying the items of Posted Credit Support to . ISDA Credit Support Annex. The standard New York law pledge means of posting and receiving Credit Support under an ISDA Master.

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Conditions Precedent, Transfer Timing, Calculations and Substitutions a Conditions Precedent Each Transfer obligation of the Pledgor under Paragraphs 3 and 5 and of the Secured Party under Paragraphs 3, 4 d ii5 and 6 d is subject to the conditions precedent that: Both New York Law Credit Support Annex and an English law Anex Support Annex operate to create security interests in the collateral being posted, the differences are operational and can be material upon an insolvency of ceedit other party.

When no amounts are or thereafter may become payable by the Pledgor with respect to any Obligations except for any potential liability under Section 2 d of this Agreementthe Secured Party will Transfer to the Pledgor all Posted Credit Support and the Interest Amount, if any. Initially, the Custodian for Party A is Party B and its Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6 b ; provided that the following conditions applicable to it are satisfied: Treasury Department having a remaining maturity on such date of five years or more but less than ten years.

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Greater than 6 years but not more than 7 years. All demands, specifications and notices under this Annex will be made pursuant to the Notices Section of this Agreement, except that any demand, specification or notice shall be given to or made at the following addresses or at such other address as the relevant party may from time to time designate by giving notice in accordance with the terms of this paragraph to the other party: Essentially, a CSA defines the terms or rules under which collateral is posted or transferred between swap counterparties to mitigate the credit risk arising from ” in the money ” derivative positions.

Credit Support Annex

Greater than 18 years but not more than 19 years. Greater than 16 years but not more than 17 years.

International Swaps and Derivatives Association, Inc. Cash, the amount thereof; and. Deutsche Bank Trust Company. All calculations by the Valuation Agent must be made annnex accordance with standard market practice, including, in the event of a dispute as to the Value of any Eligible Credit Support or Posted Credit Support, by making reference to quotations received by the Valuation Agent from one or more Pricing Sources.

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ISDA® Credit Support Annex (CSA)

The Valuation Agent will notify each party or the other party, if the Valuation Agent is a party of its calculations not later than the Notification Time on the Local Business Day following the applicable Valuation Date or in the case of Paragraph 6 dfollowing the date of calculation.

Alternative to Interest Amount. Events of Default For purposes of Section 5 a iii l of this Agreement, an Event of Default will exist with respect to a party if: Greater than 26 years but not more than 27 years. Greater than 21 years but not more than 22 years.

Distributions and Interest Amount.

A Set-off any amounts payable by the Pledgor with respect to any Obligations against any Posted Annes or the Cash equivalent of any Posted Collateral held by the Secured Party or any obligation of the Secured Party to Transfer that Posted Collateral ; and B to the extent that the Pledgor does not Set-off under iv A above, withhold payment of any remaining amounts payable by the Pledgor with respect to any Sup;ort, up to the Value of any remaining Posted Collateral held by the Secured Party, until that Posted Collateral is Transferred to the Pledgor.

Any Interest Amount or portion thereof not Transferred pursuant to Paragraph 6 d ii will constitute Posted Collateral in the form of Cash. Party A and its Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6 annfx ; provided that the following conditions applicable to it are satisfied: A Cash B negotiable debt obligations issued by the U. Greater than 15 years but not more than 16 years. Greater than 4 years but not more than 5 years. Each party, as the Pledgor, hereby pledges to the other party, as the Secured Party, as security for its Obligations, and grants to the Secured Party a first priority continuing security interest in, lien on and right of Set-off against all Posted Collateral Transferred to or received by the Secured Party hereunder.

For the purpose of Paragraphs 5 i C and 5 iithe Value of Posted Credit Support will be calculated by the Valuation Agent in accordance with standard market practice. Performance of all obligations under this Annex, including, but not limited to, all calculations, valuations and determinations made by either party, will be made in good faith and in a commercially reasonable manner.

Full text of “ISDA Credit Support Annex”

The Pledgor must obtain the Secured Party’s consent for any substitution pursuant to Paragraph 4 d. Promptly following a demand made by a party, the other party will execute, deliver, file and record any financing statement, specific assignment or other document and take any other action that may be necessary or desirable credjt reasonably requested by that party to create, preserve, perfect or validate any security interest or lien granted under Paragraph 2, to enable that party to exercise or enforce its rights under this Annex with respect to Posted Credit Support or an Interest Amount or to effect or document a release of a security interest on Posted Collateral or an Interest Amount.

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Party B represents to Party A which representations s will be deemed to be repeated as of each date on which it, as the Pledgor, Transfers Eligible Collateral that: Upon the Transfer by the Secured Party to the Pledgor of Posted Collateral, the security interest and lien granted hereunder on that Posted Collateral will be released immediately and, to the extent possible, without any further action by either party.

With respect to Party B: For purposes of the obligation to Transfer Eligible Credit Support or Posted Credit Support pursuant to Paragraphs 3 and 5 and any rights or remedies authorized under this Agreement, the Secured Party will be deemed to continue to hold all Posted Collateral and to receive Distributions made thereon, regardless of whether the Secured Party has exercised any rights with respect to any Posted Collateral pursuant to i or ii above.

Subject to Paragraphs 4 a 1994 5 and unless otherwise specified, if a demand for the Transfer of Eligible Credit Support or Posted Credit Support is made by the Notification Time, then the relevant Transfer will be made not later than the close of business on the next Local Business Day; if a demand is made after the Notification Time, then the relevant Transfer will be made not later than the close of business on the second Local Business Day thereafter.

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Greater than 13 years but not more than 14 years. Greater than 9 years but not more than 10 years.

Greater than 27 years but not more than 28 years. C “Credit Support Amount” has the meaning specified in Paragraph 3. Upon notice by the Secured Party to the Pledgor of the appointment of a Custodian, the Pledgor’s obligations to make any Transfer will be discharged by making the Transfer to that Custodian.

Elections and Variables a Security Interest for “Obligations”.

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