EFTA01353274.pdf

Equivalent Margin Securities but, subject to this. the repayment of such Cash Margin or the delivery of the option of the party making such Margin Transfer. the composition of a Margin Transfer shall be at y or such other currency as the panics may (e) Any Cash Margin transferred shall be in the Base Currenc agree. from the party receiving such payment to the It) A payment of Cash Margin shall give rise to a debt owing bear interest at such rate, payable at such times, as may be peaty making such payment. Such debt shall t hereto in respect of the relevan t currenc y or otherwise agreed between the panics, specified in Annex Agreem ent. and shall be repayable subject to the terms of this subparagraph (a) above to make a Margin Transfer, it (8) Where Seller or Buyer becomes obliged under es or Equivalent Margin Securities within the minimum shall transfer Cash Margin or Margin Securiti if no period is there specified, such minimum period as is period specified in Annex I hereto err. Margin Securities or Equivalent Margin customarily required for the settlement or delivery of money. Securities of the relevant kind. tion, the provisions of subparagraphs (a) to Ig) (h) The parties may agree that. with respect to any Transac may be provided separately in respect of that Transaction above shall not apply but instead that margin in which east -. calculating whether either party has a Net that Transaction shall not be taken into account when Exposure; manner as the parties may agree: (ii) margin shall be provided in respect of that Transaction in such and taken into account for the purposes (iii) margin provided in respect of that Transaction shall net be of subparagraphs (a) to (g) above. arise shall be eliminated not by Margin (i) The parties may agree that any Net Exposure which may ph but by the repricing of Transactions under Transfers under the preceding provisions of this paragra graph (k) below or a combination below, the adjustm ent of Transac tions under subpara subparagraph (j) of both these methods. repriced under this subparagraph, such repricing Where the parties agree that a Transaction is to be shall be effected as follows - (the •O)riginal Transaction") shall be the Repurchase Date under the relevant Transaction on the date on which the repricin g is to be effected (the "Repricing Date"); deemed to occur tion (the "Repriced Transaction") the panics shall be deemed to have entered into a new Transac on the teens set out in (iii) to (vi) below; shall be Securities equivalent to the the Purchased Securities under the Repriced Transaction Purchased Securities under the Original Transac tion; be the Repricing Date: the Purchase Date under the Repriced Transaction shall such amount as shall, when the Purchase Price under the Repriced Transaction shall be l Transaction, be equal to the Market multiplied by the Margin Ratio applicable to the Origina Value of such Securities on the Reprici ng Date; Ratio and, subject as aforesaid, the other the Repurchase Date. the Pricing Ratc. the Margin of the Original Transaction; terms of the Repriced Transaction shall he identical those to Purchased Securities and the the obligations of the panics with respect to the delivery of the Purchas e Price under the Reprice d Transac tion shall be set off against their payment of the ent Securiti es and paymen t of the Repurchase obligations with respect to the delivery of Equival l Transac tion and accordi ngly only a net cash sum shall be paid by one Price under the Origina subparagraph within the period specifie d in party to the other. Such net cash sum shall be paid Ig) above. ction") under this subparagraph shall be effected (k) The adjustment ol'a Transaction (the —Original Transa agreein g that on the date on which the adjustm ent is to be made (the "Adjustment Date") by the parties 7 Confidential CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) D13-SDNY-0037588 CONFIDENTIAL SDNY_GM 00183770 EFTA01353274