Common use of Repository Clause in Contracts

Repository. (a) A person or persons specified in Annex I (which may also include any party to this Agreement) shall be hereby designated by the parties as a reporting person for the purposes of the Reporting Regulations (as defined below) (a “Reporting Person” and if more than one party is specified, the “Reporting Persons”) to provide information regarding the Agreement and, to the extent required under the Reporting Regulations1, 1 Note: The Reporting Regulation requires that information on a transaction made under the terms of a master agreement be provided to a repository in accordance with the Reporting Regulations by certain categories of legal entities incorporated under the laws of the Russian Federation expressly listed in the Reporting Regulations (including credit organisations, professional securities market participants, non-governmental pension funds, management companies of investment funds, mutual investment funds and non-governmental pension funds, joint stock investment funds, trade organiser, clearing organisations and insurance companies). Other Russian legal entities (including Russian corporates) are required to report transactions to the repository only after passing certain thresholds under such transactions. Foreign entities are not required to report the Agreement and Transactions to the repository. each Transaction made thereunder to the Repository2. (b) Each party hereby irrevocably consents to: (i) the disclosure, delivery and transfer by the Reporting Person of information in connection with the Agreement and any Transactions hereunder to the Repository, as required by the Reporting Regulations and the terms of the repository services and other regulations adopted by the Repository; and (ii) the disclosure, delivery and transfer of such information to the Reporting Person. (c) Each party to the Agreement designated as a Reporting Person undertakes to the other party that it will, or, if the Reporting Person is not a party to the Agreement, each party to the Agreement on whose behalf the Reporting Person is acting undertakes to the other party to procure that such Reporting Person will, report the Agreement (and any amendments to the terms thereof) and, to the extent required under the Reporting Regulations, all Transactions thereunder (and any amendments to the terms thereof) in the manner stipulated by, and within the timeframe3 set out in the Reporting Regulations or this Agreement and the terms of the repository services and other regulations adopted by the Repository4. If so specified by the parties in Annex I, failure by a party to perform its obligations under this sub-paragraph 4(c) shall not constitute an Event of Default under paragraph 10(a)(x) of the Agreement. (d) If the parties specify in Annex I that this paragraph 4(d) shall apply, it shall be a condition precedent to each Transaction that the Agreement is properly reported to the At the same time, reporting of the master agreement will always be a pre-requisite to enforceability of close-out netting provisions under the GMRA in insolvency of a Russian counterparty. Therefore, in the scenario where no party to a master agreement is subject to the mandatory reporting, it is strongly advisable that the foreign counterparty insists that the reporting undertakings in Section 4 are included in the master agreement. The foreign counterparty may wish to become the Reporting Person or designate the Russian counterparty or any third party as the Reporting Person. As to the reporting of the Transactions, in this scenario, failure to report the Transactions will not affect enforceability of close-out netting and would not be required under the Reporting Regulations.

Repository. (a) A person or persons specified in Annex I (which may also include any party to this Agreement) shall be hereby designated by the parties as a reporting person for the purposes of the Reporting Regulations (as defined below) (a “Reporting Person” and if more than one party is specified, the “Reporting Persons”) to provide information regarding the Agreement and, to the extent required under the Reporting Regulations1, 1 Note: The Reporting Regulation requires that information on a transaction made under the terms of a master agreement be provided to a repository in accordance with the Reporting Regulations by certain categories of legal entities incorporated under the laws of the Russian Federation expressly listed in the Reporting Regulations (including credit organisations, professional securities market participants, non-governmental pension funds, management companies of investment funds, mutual investment funds and non-governmental pension funds, joint stock investment funds, trade organiser, clearing organisations and insurance companies). Other Russian legal entities (including Russian corporates) are required to report transactions to the repository only after passing certain thresholds under such transactions. Foreign entities are not required to report the Agreement and Transactions to the repository. each Transaction made thereunder to the Repository2. (b) Each party hereby irrevocably consents to: (i) the disclosure, delivery and transfer by the Reporting Person of information in connection with the Agreement and any Transactions hereunder to the Repository, as required by the Reporting Regulations and the terms of the repository services and other regulations adopted by the Repository; and (ii) the disclosure, delivery and transfer of such information to the Reporting Person. (c) Each party to the Agreement designated as a Reporting Person undertakes to the other party that it will, or, if the Reporting Person is not a party to the Agreement, each party to the Agreement on whose behalf the Reporting Person is acting undertakes to the other party to procure that such Reporting Person will, report the Agreement (and any amendments to the terms thereof) and, to the extent required under the Reporting Regulations, all Transactions thereunder (and any amendments to the terms thereof) in the manner stipulated by, and within the timeframe3 timeframe 3 set out in the Reporting Regulations or this Agreement and the terms of the repository services and other regulations adopted by the Repository4. If so specified by the parties in Annex I, failure by a party to perform its obligations under this sub-paragraph 4(c) shall not constitute an Event of Default under paragraph 10(a)(x) of the Agreement. (d) If the parties specify in Annex I that this paragraph 4(d) shall apply, it shall be a condition precedent to each Transaction that the Agreement is properly reported to the At the same time, reporting of the master agreement will always be a pre-requisite to enforceability of close-out netting provisions under the GMRA in insolvency of a Russian counterparty. Therefore, in the scenario where no party to a master agreement is subject to the mandatory reporting, it is strongly advisable that the foreign counterparty insists that the reporting undertakings in Section 4 are included in the master agreement. The foreign counterparty may wish to become the Reporting Person or designate the Russian counterparty or any third party as the Reporting Person. As to the reporting of the Transactions, in this scenario, failure to report the Transactions will not affect enforceability of close-out netting and would not be required under the Reporting Regulations.

Repository. (a) A person or persons specified in Annex I (which may also include any party to this Agreement) shall be hereby designated by the parties as a reporting person for the purposes of the Reporting Regulations (as defined below) (a “Reporting Person” and if more than one party is specified, the “Reporting Persons”) to provide information regarding the Agreement and, to the extent required under the Reporting Regulations1, 1 Note: The Reporting Regulation requires that information on a transaction made under the terms of a master agreement be provided to a repository in accordance with the Reporting Regulations by certain categories of legal entities incorporated under the laws of the Russian Federation expressly listed in the Reporting Regulations (including credit organisations, professional securities market participants, non-governmental pension funds, management companies of investment funds, mutual investment funds and non-governmental pension funds, joint stock investment funds, trade organiser, clearing organisations and insurance companies). Other Russian legal entities (including Russian corporates) are required to report transactions to the repository only after passing certain thresholds under such transactions. Foreign entities are not required to report the Agreement and Transactions to the repository. each Transaction made thereunder to the Repository2. (b) Each party hereby irrevocably consents to: (i) the disclosure, delivery and transfer by the Reporting Person of information in connection with the Agreement and any Transactions hereunder to the Repository, as required by the Reporting Regulations and the terms of the repository services and other regulations adopted by the Repository; and (ii) the disclosure, delivery and transfer of such information to the Reporting Person. (c) Each party to the Agreement designated as a Reporting Person undertakes to the other party that it will, or, if the Reporting Person is not a party to the Agreement, each party to the Agreement on whose behalf the Reporting Person is acting undertakes to the other party to procure that such Reporting Person will, report the Agreement (and any amendments to the terms thereof) and, to the extent required under the Reporting Regulations, all Transactions thereunder (and any amendments to the terms thereof) in the manner stipulated by, and within the timeframe3 set out in the Reporting Regulations or this Agreement and 1 Note: The Reporting Regulation requires that information on a transaction made under the terms of a master agreement be provided to a repository in accordance with the Reporting Regulations by certain categories of legal entities incorporated under the laws of the Russian Federation expressly listed in the Reporting Regulations (including credit organisations, professional securities market participants, non-governmental pension funds, management companies of investment funds, mutual investment funds and non-governmental pension funds, joint stock investment funds, trade organiser, clearing organisations and insurance companies). Other Russian legal entities (including Russian corporates) are required to report transactions to the repository services and other regulations adopted by the Repository4only after passing certain thresholds under such transactions. If so specified by the parties in Annex I, failure by a party Foreign entities are not required to perform its obligations under this sub-paragraph 4(c) shall not constitute an Event of Default under paragraph 10(a)(x) of the Agreement. (d) If the parties specify in Annex I that this paragraph 4(d) shall apply, it shall be a condition precedent to each Transaction that report the Agreement is properly reported and Transactions to the repository. At the same time, reporting of the master agreement will always be a pre-requisite to enforceability of close-out netting provisions under the GMRA in insolvency of a Russian counterparty. Therefore, in the scenario where no party to a master agreement is subject to the mandatory reporting, it is strongly advisable that the foreign counterparty insists that the reporting undertakings in Section 4 are included in the master agreement. The foreign counterparty may wish to become the Reporting Person or designate the Russian counterparty or any third party as the Reporting Person. As to the reporting of the Transactions, in this scenario, failure to report the Transactions will not affect enforceability of close-out netting and would not be required under the Reporting Regulations.

Repository. (a) A person or persons specified in Annex I (which may also include any party to this Agreement) shall be hereby designated by the parties as a reporting person for the purposes of the Reporting Regulations (as defined below) (a “Reporting Person” and if more than one party is specified, the “Reporting Persons”) to provide information regarding the Agreement and, to the extent required under the Reporting Regulations1,, each Transaction made thereunder to the Repository2. (b) Each party hereby irrevocably consents to: (i) the disclosure, delivery and transfer by the Reporting Person of information in connection with the Agreement and any Transactions hereunder to the Repository, as required by the Reporting Regulations and the terms of the 1 Note: The Reporting Regulation requires that information on a transaction made under the terms of a master agreement be provided to a repository in accordance with the Reporting Regulations by certain categories of legal entities incorporated under the laws of the Russian Federation expressly listed in the Reporting Regulations (including credit organisations, professional securities market participants, non-governmental pension funds, management companies of investment funds, mutual investment funds and non-governmental pension funds, joint stock investment funds, trade organiser, clearing organisations and insurance companies). Other Russian legal entities (including Russian corporates) are required to report transactions to the repository only after passing certain thresholds under such transactions. Foreign entities are not required to report the Agreement and Transactions to the repository. each Transaction made thereunder to the Repository2. (b) Each party hereby irrevocably consents to: (i) the disclosure, delivery and transfer by the Reporting Person of information in connection with the Agreement and any Transactions hereunder to the Repository, as required by the Reporting Regulations and the terms of the repository services and other regulations adopted by the Repository; and (ii) the disclosure, delivery and transfer of such information to the Reporting Person. (c) Each party to the Agreement designated as a Reporting Person undertakes to the other party that it will, or, if the Reporting Person is not a party to the Agreement, each party to the Agreement on whose behalf the Reporting Person is acting undertakes to the other party to procure that such Reporting Person will, report the Agreement (and any amendments to the terms thereof) and, to the extent required under the Reporting Regulations, all Transactions thereunder (and any amendments to the terms thereof) in the manner stipulated by, and within the timeframe3 set out in the Reporting Regulations or this Agreement and the terms of the repository services and other regulations adopted by the Repository4. If so specified by the parties in Annex I, failure by a party to perform its obligations under this sub-paragraph 4(c) shall not constitute an Event of Default under paragraph 10(a)(x) of the Agreement. (d) If the parties specify in Annex I that this paragraph 4(d) shall apply, it shall be a condition precedent to each Transaction that the Agreement is properly reported to the At the same time, reporting of the master agreement will always be a pre-requisite to enforceability of close-out netting provisions under the GMRA in insolvency of a Russian counterparty. Therefore, in the scenario where no party to a master agreement is subject to the mandatory reporting, it is strongly advisable that the foreign counterparty insists that the reporting undertakings in Section 4 are included in the master agreement. The foreign counterparty may wish to become the Reporting Person or designate the Russian counterparty or any third party as the Reporting Person. As to the reporting of the Transactions, in this scenario, failure to report the Transactions will not affect enforceability of close-out netting and would not be required under the Reporting Regulations.