✨ Legal Agreement Amendments
22 DECEMBER 2010 NEW ZEALAND GAZETTE, No. 177 4365
(12) Section 13(b)(i) is deleted and replaced by the following:
submits to the non-exclusive jurisdiction of the courts of New Zealand;
(13) In Section 14:
(i) the definition of "Non-default Rate" is replaced with the following:
"Non-default Rate" means, on any date, the average bid rate for the purchase of bank accepted bills of exchange having a tenor of 90 days as displayed at or about 10.45 a.m. on that date on page BKBM (or its successor page) of the Reuters Monitor Screen.
(iii) a new definition of "Head Agreement" is inserted as follows:
"Head Agreement" means the document entitled "Virtual Asset Swap Head Agreement" dated on or about the date of this Agreement between Party A and Party B.
(iv) a new definition of "Shareholding Minister" is inserted as follows:
"Shareholding Minister" has the meaning given in the State Owned Enterprises Act 1986.
(14) Subject to the terms of any Confirmation and except as modified by this Agreement, the definitions and provisions contained in the 2006 ISDA Definitions (as published by the International Swaps and Derivatives Association, Inc.), the 2005 ISDA Commodity Derivatives Definitions, (as published by the International Swaps and Derivatives Association, Inc.), as amended or supplemented from time to time, (the "2006 Definitions" and the "2005 Definitions" respectively) are incorporated into each Confirmation. In the event of any inconsistency between the definitions and provisions contained in the 2006 Definitions and the 2005 Definitions, the 2005 Definitions will govern. If there is an inconsistency between those definitions and provisions and any Confirmation, the Confirmation will govern.
(15) Any reference to a:
(a) "Swap Transaction" in the 2006 Definitions is deemed to be a reference to a "Transaction" for the purpose of interpreting this Agreement or any Confirmation; and
(b) "Transaction" in this Agreement or any Confirmation is deemed to be a reference to a "Swap Transaction" for the purpose of interpreting the 2006 Definitions.
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NZ Gazette 2010, No 177
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