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International Swaps and Derivatives Association, Inc.
AMENDMENT to
CREDIT SUPPORT ANNEX
Copyright © 2017 by International Swaps and Derivatives Association, Inc. The parties have entered into a New CSA (as amended, the “Annex”), which forms part of, and is subject to, a Protocol Covered Agreement or Protocol Master Agreement and is part of its Schedule pursuant to the terms of the ISDA 2016 Variation Margin Protocol, as published on August 16, 2016 by the International Swaps and Derivatives Association, Inc. (the “ISDA 2016 Variation Margin Protocol”). The parties have now agreed to amend and supplement the Annex by the terms of this amendment (this “Amendment”). Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the ISDA 2016 Variation Margin Protocol.
Accordingly, in consideration of the mutual agreements contained in this Amendment, the parties agree as follows:
1. Gross [and Net]1 Minimum Transfer Amounts.
(a) The definition of “Gross Minimum Transfer Amount” is deleted in its entirety and replaced with the following:
“ Gross Minimum Transfer Amount” means, with respect to each party, [such party’s Minimum Transfer Amount]2 [●].
[(b) The definition of “Net Minimum Transfer Amount” is deleted in its entirety and replaced with the following:
“Net Minimum Transfer Amount” means, with respect to each party, [such party’s Minimum Transfer Amount]3 [●].]4
2. Miscellaneous.
(a) Entire Agreement; Restatement.
(i) This Amendment constitutes the entire agreement and understanding of the parties with respect to its subject matter and supersedes all oral communication and prior writings (except as otherwise provided herein) with respect thereto.
(ii) Except for any amendment to the Annex made pursuant to this Amendment, all terms and conditions of the Annex will continue in full force and effect in accordance with its provisions on the date of this Amendment.
(b) Amendments. No amendment, modification or waiver in respect of the matters contemplated by this Amendment will be effective unless made in accordance with the terms of the Agreement.
(c) Counterparts. This Amendment may be executed and delivered in counterparts (including by facsimile transmission), each of which will be deemed an original.
1 Include square bracket language if one party is a Net Collection Party and Net Delivery/Return Amounts (VM) are subject to a Net Minimum Transfer Amount. 2 Include square bracket language to use the full Minimum Transfer Amount originally specified by the parties in the New CSA through the exchange of Protocol Questionnaires. 3 Include square bracket language to use the full Minimum Transfer Amount originally specified by the parties in the New CSA through the exchange of Protocol Questionnaires. 4 Include 1(b) if one party is a Net Collection Party and Net Delivery/Return Amounts (VM) are subject to a Net Minimum Transfer Amount.
-2- (d) Headings. The headings used in this Amendment are for convenience of reference only and are not to affect the construction of or to be taken into consideration in interpreting this Amendment.
(e) Governing Law. This Amendment and any non-contractual obligations arising out of or in connection with it will be governed by and construed in accordance with [the laws of the State of New York (without reference to choice of law doctrine)][English law].
-3- IN WITNESS WHEREOF the parties have executed this Amendment on the respective dates specified below with effect from the Effective Date.
(Name of Party) (Name of Party)
By: ______By: ______Name: Name: Title: Title: Date: Date:
-4-