EFTA01383569.pdf

(iii) Additional Termination Events. Each of the following shall constitute an Additional Termination Event with respect to Party B: (A) the quotient of (I) the portion of Net Collateral Value attributable to all FX Transactions and Currency Option Transactions not involving Tier II, Tier III and Tier IV Currencies, divided by (II) Tier 1 Net Open Position is equal to or less than Tier I Close-Out Ratio; (B) the quotient of (I) the portion of the Net Collateral Value attributable to all FX Transactions and Currency Option Transactions involving Tier II Currencies, divided by (II) the Tier II Net Open Position is equal to or less than the Tier II Close-Out Ratio; (C) the quotient of (I) the portion of Net Collateral Value attributable to all FX Transactions and Currency Option Transactions involving Tier Ill Currencies, divided by (II) the Tier Ill Net Open Position is equal to or less than the Tier Ill Close-Out Ratio; (D) the quotient of (I) the portion of Net Collateral Value attributable to all FX Transactions and Currency Option Transactions involving Tier IV Currencies, divided by (II) the Tier IV Net Open Position is equal to or less than the Tier IV Close-Out Ratio; (E) the Aggregate Net Open Position is equal to or greater than the Aggregate Ceiling Limit; Tier I Net Open Position is equal to or greater than Tier I Ceiling Limit; the Tier II Net Open Position is equal to or greater than the Tier 11 Ceiling Limit; the Tier III Net Open Position is equal to or greater than the Tier III Ceiling Limit; the Tier IV Net Open Position is equal to or greater than the Tier IV Ceiling Limit; in each case irrespective of whether or not Eligible Credit Support has been requested by Party A, or is being delivered to Party A, pursuant to the terms of this Annex. For purposes of determining whether such an Additional Termination Event has occurred, at the discretion of Party A, Exposure and Net Collateral Value may be calculated at any time on any calendar day and, if such day is not a Valuation Date, the Value of Posted Credit Support may at the discretion of Party A be calculated based on the Value on the preceding Valuation Date. For purposes of each such Additional Termination Event, Party B shall be the sole Affected Party. Notwithstanding any provision of this Agreement that may be to the contrary, if an Additional Termination Event specified in this Credit Support Annex shall occur with respect to Party B, Party A shall be entitled to designate an Early Termination Date with respect to all Transactions with immediate effect. Without limiting such right, Party A agrees to use reasonable efforts to deliver to Party B notice of such designation in accordance with Section 12 of this Agreement. 19 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0083292 CONFIDENTIAL SDNY_GM_00229476 EFTA01383569