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this Appendix, not be obliged to make any further payments or deliveries under any such transactions. 3. Should liquidation and close-out under paragraph 2 of this Appendix occur, the ECB shall, aș soon aș is reasonably practicable, take an account of what is due from each Party to the other, including, aș necessary, determining în respect of each transaction the ECB's total gain or loss, aș the case may be, resulting from the liquidation and close-out of such transaction aș
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3. Should liquidation and close-out under paragraph 2 of this Appendix occur, the ECB shall, aș soon aș is reasonably practicable, take an account of what is due from each Party to the other, including, aș necessary, determining în respect of each transaction the ECB's total gain or loss, aș the case may be, resulting from the liquidation and close-out of such transaction aș at the date of such liquidation and close-out, în every case în or converted into the
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take an account of what is due from each Party to the other, including, aș necessary, determining în respect of each transaction the ECB's total gain or loss, aș the case may be, resulting from the liquidation and close-out of such transaction aș at the date of such liquidation and close-out, în every case în or converted into the base currency. The ECB shall then aggregate such gains and losses and only the balance of the account shall be payable
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and losses and only the balance of the account shall be payable by the Counterparty, if the aggregate losses exceed the aggregate gains, or by the ECB, if the aggregate gains exceed the aggregate losses. 4. În determining în respect of each transaction the ECB's total gain or loss, the ECB shall, subject to applicable law, use a commercially reasonable method of calculation which (a) is based on, to the extent practicable and available, quotations from at least four leading
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gains, or by the ECB, if the aggregate gains exceed the aggregate losses. 4. În determining în respect of each transaction the ECB's total gain or loss, the ECB shall, subject to applicable law, use a commercially reasonable method of calculation which (a) is based on, to the extent practicable and available, quotations from at least four leading dealers în the relevant market operating în the same financial centre, and (b) takes into account, where applicable, the liquidation and close-out
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calculation which (a) is based on, to the extent practicable and available, quotations from at least four leading dealers în the relevant market operating în the same financial centre, and (b) takes into account, where applicable, the liquidation and close-out of such transaction earlier than its scheduled value date or delivery date. 5. The Parties agree that the calculation of the net sum under paragraphs 3 and 4 of this Appendix is a reasonable pre-stimate of losses suffered. ANEXĂ 2b Acord
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applicable, the liquidation and close-out of such transaction earlier than its scheduled value date or delivery date. 5. The Parties agree that the calculation of the net sum under paragraphs 3 and 4 of this Appendix is a reasonable pre-stimate of losses suffered. ANEXĂ 2b Acord cadru de compensare reglementat de legislația franceză (se folosește în cadrul operațiunilor efectuate cu parteneri contractuali înregistrați în Franța; redactat în limba franceză) CONVENTION-CADRE DE COMPENSATION Date: Entre: La Banque centrale européenne, Kaiserstrasse 29, D-60311
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dieses Vertrags (im Folgenden: "Aufrechnungsvertrag") sind alle die zwischen den Parteien getroffenen (einschließlich dieses Vertrags sowie der im Anhang 1 zum Vertrag aufgeführten) Vereinbarungen în ihrer jeweiligen Fassung zu verstehen, die Klauseln enthalten, wonach im Fall eines wichtigen Grundes (event of default) insbesondere eine vorzeitige Beendigung eintritt oder eine Kündigung ausgesprochen werden kann (im folgenden: "Beendigung oder Kündigung aus wichtigem Grund"); ferner muss dort vereinbart sein, dass infolge einer Beendigung oder Kündigung Geschäfte oder Verpflichtungen fällig bzw. în verrechenbare, fällige Forderungen
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contractuali înregistrați în Statele Unite ale Americii; redactat în limba engleză) MASTER NETTING AGREEMENT Dated aș of: Between. European Central Bank, Kaiserstrasse 29, D-60311 Frankfurt am Main, Germany (hereinafter referred to aș the ECB), and [Counterparty] whose [address] [registered place of business] is at [address] (hereinafter referred to aș the Counterparty) 1. Scope of agreement 1.1. The purpose of this Agreement (hereinafter referred to aș the Agreement) is to ensure that the ECB is able to net all existing positions
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of agreement 1.1. The purpose of this Agreement (hereinafter referred to aș the Agreement) is to ensure that the ECB is able to net all existing positions under all outstanding transactions made between the ECB and the Counterparty, regardless of any agent or agents authorised to act on behalf of the ECB through whom the transactions giving rise to those positions may have been effected, including the central bank of any Member State of the European Union which hâș adopted
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on behalf of the ECB through whom the transactions giving rise to those positions may have been effected, including the central bank of any Member State of the European Union which hâș adopted the euro aș its currency, and regardless of which office (including the head office and all branches) of the Counterparty may be involved în such transactions, and after taking into account the effect of any existing netting provisions în master or other agreements between the ECB and the
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transactions, and after taking into account the effect of any existing netting provisions în master or other agreements between the ECB and the Counterparty and/or provisions of mandatory law that operate with similar effect that may apply to certain of such transactions. 1.2. În this Agreement, a "netting agreement" means any agreeement for the time being în effect between the Parties (and including, without limitation, this Agreement and agreements of the kind listed în Appendix 1 to this Agreement
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1 to this Agreement), including such modifications and additions thereto aș may be agreed between the ECB and the Counterparty (hereinafter referred to aș the Parties), from time to time, which contains provisions to the effect that, should any event of default aș defined for the purposes of such agreement occur, there may be an early termination, liquidation, closing-out or acceleration of transactions or obligations under transactions or any analogous event (a "default termination") and the respective obligations of the parties
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payable under any netting agreement constitute a single business and contractual relationship and arrangement. 2.3. Each party represents and warrants to the other that it is a financial institution for purposes of the UȘ Deposit Insurance Corporation Improvement Act of 1991 (hereinafter referred to aș FIDICIA), and the parties agree that this Agreement shall be a netting contract, aș defined în FDICIA, and that each receipt or payment obligation under the Agreement shall be a covered contractual payment entitlement or
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a party; it hâș taken all necessary action to authorise such execution, deliery and performance, including authorisations required under the UȘ Federal Deposit Insurance Act, aș amended, including amendments effected by the UȘ Federal Institutions Reform, Recovery and Enforcement Act of 1989, and under any agreement, writ, decree or order entered into with a party's supervisory authorities; and (b) at all times during the term of this Agreement, it will continuously include and maintain aș part of its official written
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amended, including amendments effected by the UȘ Federal Institutions Reform, Recovery and Enforcement Act of 1989, and under any agreement, writ, decree or order entered into with a party's supervisory authorities; and (b) at all times during the term of this Agreement, it will continuously include and maintain aș part of its official written books and records this Agreement, the netting agreements and evidence of all necesary authorisations](1). [2.5.] [2.6.] This Agreement is supplemental to the netting
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occur under any netting agreement (including under Appendix 2 to this Agreement), then the ECB shall have the right to declare, by written notice to the Counterparty, that a default termination hâș occurred under each other netting agreement în respect of which default termination hâș not occured în accordance with the provisions thereof. 5. Global netting 5.1. Should a default termination occur, the ECB shall, aș soon aș is reasonably practicable, take an account of what is due from each
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other netting agreement în respect of which default termination hâș not occured în accordance with the provisions thereof. 5. Global netting 5.1. Should a default termination occur, the ECB shall, aș soon aș is reasonably practicable, take an account of what is due from each party to the other under each netting agreement (including under Appendix 2 of this Agreement) în respect of which default termination hâș occurred and aggregate the sums due from each party to the other under
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Should a default termination occur, the ECB shall, aș soon aș is reasonably practicable, take an account of what is due from each party to the other under each netting agreement (including under Appendix 2 of this Agreement) în respect of which default termination hâș occurred and aggregate the sums due from each party to the other under such netting agreements (including under Appendix 2 to this Agreement), în every case în or converted into the base currency, and only the
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be assigned, charged, pledged or otherwise transferred or dealt with by the Counterparty. 9. Governing law and jurisdiction 9.1. This Agreement shall be governed by and construed în accordance with the laws of the State of New York, United States of America. 9.2. For the benefit of the ECB, the Counterparty hereby irrevocably submits for all purposes of or în connection with this Agreement to the jurisdiction of the District Court (Landgericht) of Frankfurt am Main, Germany. Nothing în this
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9.1. This Agreement shall be governed by and construed în accordance with the laws of the State of New York, United States of America. 9.2. For the benefit of the ECB, the Counterparty hereby irrevocably submits for all purposes of or în connection with this Agreement to the jurisdiction of the District Court (Landgericht) of Frankfurt am Main, Germany. Nothing în this clause 9 shall limit the right of the ECB to take proceedings before the courts of any other
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of the State of New York, United States of America. 9.2. For the benefit of the ECB, the Counterparty hereby irrevocably submits for all purposes of or în connection with this Agreement to the jurisdiction of the District Court (Landgericht) of Frankfurt am Main, Germany. Nothing în this clause 9 shall limit the right of the ECB to take proceedings before the courts of any other country of competent jurisdiction. European Central Bank [Name of Counterparty](2) By By Title Title
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all purposes of or în connection with this Agreement to the jurisdiction of the District Court (Landgericht) of Frankfurt am Main, Germany. Nothing în this clause 9 shall limit the right of the ECB to take proceedings before the courts of any other country of competent jurisdiction. European Central Bank [Name of Counterparty](2) By By Title Title [Address for the service of notices under this Agreement] Date Date Appendix 1 Netting agreements 1. ISDA Master Agreement (Multicurrency-Cross Border 1992) 2
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în connection with this Agreement to the jurisdiction of the District Court (Landgericht) of Frankfurt am Main, Germany. Nothing în this clause 9 shall limit the right of the ECB to take proceedings before the courts of any other country of competent jurisdiction. European Central Bank [Name of Counterparty](2) By By Title Title [Address for the service of notices under this Agreement] Date Date Appendix 1 Netting agreements 1. ISDA Master Agreement (Multicurrency-Cross Border 1992) 2. The Bond Market Association
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Nothing în this clause 9 shall limit the right of the ECB to take proceedings before the courts of any other country of competent jurisdiction. European Central Bank [Name of Counterparty](2) By By Title Title [Address for the service of notices under this Agreement] Date Date Appendix 1 Netting agreements 1. ISDA Master Agreement (Multicurrency-Cross Border 1992) 2. The Bond Market Association Master Repurchase Agreement 3. PSA-ISMA Global Master Repurchase Agreement 4. Convention-cadre AFB relative aux opérations de marché à
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