Common use of Unless otherwise agreed Clause in Contracts

Unless otherwise agreed. (a) where the Purchased Securities the subject of a Transaction consist of or include equities in respect of which an Income Payment Date would, but for this provision, occur during the Term of such Transaction, the Seller shall seek to effect a substitution of such equities in accordance with clause 8.1. before the Notice Date referred to in clause 5.3., but if such a substitution has not been effected by that date then Termination of such Transaction shall, provided that the Seller has notified the Buyer of such Termination in accordance with clause 5.3., occur on, and, accordingly, the Repurchase Date of such Transaction shall fall on, the Business Day immediately preceding such Income Payment Date. (b) except to the extent that Equivalent Margin Securities in respect of the relevant Margin Securities have already been transferred or a Cash Equivalent Amount has already been paid, where one party (the ‘transferor’) has transferred Margin Securities which are equities to the other (the ‘transferee’) then, on the Business Day preceding the next Income Payment Date in respect of such Margin Securities, the transferee shall transfer to the transferor Equivalent Margin Securities in respect of such Margin Securities in exchange for new Margin Securities as if such transfers were made pursuant to a request under clause 8.4. to which the transferee had agreed; provided that (i) the transferor has given notice to the transferee in accordance with clause 5.3. of the application of this clause 5.2.(b) and (ii) the transferor has provided reasonable details to the transferee of the Margin Securities in question, the relevant Income Payment Date and the new Margin Securities to be exchanged for such Equivalent Margin Securities and the transferee has indicated to the transferor that such new Margin Securities are acceptable to it.