Common use of THIRTIETH Clause in Contracts

THIRTIETH. In the case that the repurchased Securities correspond to the capitals market and their issuer decree an exchange during the term of the Repo, the Customer will be bound to deliver Securities from the same issuer equivalent to those originally received under Repo to the Brokerage Firm; furthermore, in the case that the Securities confer options to be exercised during the term of the Repo, the Customer, following the provision of funds at least two Days in advance, will be bound to exercise such option on behalf of the Brokerage Firm. In the case that the Securities are traded "at a discount", a) the price agreed in the Repo will be that resulting from applying the annual discount rate of purchase-sale transactions between brokerage firms performed in the BMV corresponding to the date on which the Repo transaction has been established to the par value of the Securities, and b) the sum of the price plus the established premium should not exceed the par value of the instruments subjects to the Repo. In the case of Securities traded "at price", a) the agreed price may not differ from the result of adding the price that corresponds to Securities of the same issue as the repurchased ones covered by the last purchase-sale transactions performed between brokerage firms in the BMV except for those called "same day value" to the accrued and unpaid interest of the instruments subject to the Repo, and b) the sum of the price plus the established premium should not exceed the result of adding the interest corresponding to the term of the transaction to the par value of the Securities subject to the Repo, considering for these effects, the interest rate on the date of their performance. If the Securities are denominated in a foreign currency, and the price is established in US dollars, in order to calculate the price, the selling exchange rate published by the BMV in the "daily movement of the stock market" on the second Day prior to the date on which the transaction is performed will be used. The Customer should pay the Brokerage Firm the price of the Repo and the Brokerage Firm will transfer the respective Securities to the Account of the Customer, on the same value date, which may not be later than the fourth Day following the date on which the transaction is established, except for the provisions of the Circulars depending on the Securities subject to the Repo. Upon maturity, the aforementioned transfers should be performed on the same maturity date.