Variation Margin Matching definition

Variation Margin Matching is specified as applicable in the Addendum Annex, upon a Demand made by the Transferor on or promptly following a Valuation Date, if the Currency VM Return Amount in respect of a Currency Portfolio for that Valuation Date equals or exceeds the Transferee's Minimum Transfer Amount, then the Transferee will transfer to the Transferor cash denominated in the currency of, and having a Value as of the date of transfer as close as practicable to, the Currency VM Return Amount (rounded pursuant to Paragraph 11(b)(iii)); or,
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Examples of Variation Margin Matching in a sentence

  • If Variation Margin Matching is specified as applicable in the Addendum Annex, Paragraphs 11(i)(i) to 11(i)(iii) will not apply in respect of any Demand for a Currency VM Delivery Amount or a Currency VM Return Amount, as applicable, and Clearing Member or Client, as applicable, will transfer specified amounts, types and denominations of Eligible Credit Support or Equivalent Credit Support, as applicable, in accordance with Paragraphs 2(a) or 2(b), as applicable, as amended by Paragraph 11(b).

  • As used in this Annex, "Interest Amount" means (x) where "Variation Margin Matching" is specified as applicable in the Addendum Annex, each Currency VM Interest Amount, the IM Interest Amount or all of them, as applicable or (y) otherwise, the VM Interest Amount, the IM Interest Amount or both, as applicable.