New Zealand Gazette – 2010 – No. 177

Page 4397

✨ Legal Form Continuation

22 DECEMBER 2010 NEW ZEALAND GAZETTE, No. 177 4397

(iv) "Notification Time" shall be 2.00 p.m., New Zealand time on a Valuation Date.
Notwithstanding Paragraph 3(a), if a demand for the transfer of Eligible Credit
Support or Equivalent Credit Support is received by the Notification Time, then the
relevant transfer shall be made not later than the close of business on the next Local
Business Day or, if a demand is received after the Notification Time, then the relevant
transfer shall be made not later than the close of business on the second Local
Business Day following the date such demand is received.

(d) Exchange Date. "Exchange Date" has the meaning specified in Paragraph 3(c)(ii).

(e) Dispute Resolution.

(i) "Resolution Time" means 2:00 p.m., New Zealand time, on the Local Business Day
following the date on which notice is given that gives rise to a dispute under
Paragraph 4.

(ii) Value. For purposes of Paragraph 4(a)(4)(i)(C) and 4(a)(4)(ii), the Value of the
outstanding Credit Support Balance or of any transfer of Eligible Credit Support or
Equivalent Credit Support, as the case may be, will be calculated as the Base
Currency Equivalent of such amount multiplied by the applicable Valuation
Percentage, if any.

(iii)

(f) Distributions and Interest Amount.

(i) Interest Rate. The "Interest Rate" in relation to the Eligible Currency specified below
will be:

Eligible Currency	Interest Rate
NZD	The official cash rate for the relevant day as published on Reuters Monitor System Page RBNZ02.

(ii) Transfer of Interest Amount. The transfer of the Interest Amount will be made on
the [first] Local Business Day of each calendar month.

(iii) Alternative to Interest Amount. The provisions of Paragraph 5(c)(ii) will apply,
provided, however, that the Interest Amount will compound daily.

Gazette.govt.nz — NZ Gazette 2010, No 177

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

🏛️ Form of Credit Support Annex (continued from previous page)

Domain🏛️ Governance & Central Administration
KeywordsLegal Form, Credit Support Annex, Financial Agreement, Transfer Procedures, Valuation

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