Text extracted via OCR from the original document. May contain errors from the scanning process.
Party B:
Same as provided in Notices section of the Agreement
(k)
Addresses for Transfers
Party A:
Puny B:
To be notified from time to time
To be notified from time to time
(I)
Other Provisions.
(i)
The following definitions are hereby inserted into Paragraph 12 in the appropriate
alphabetical order:
(A)
"Aggregate Ceiling Limit" means USD 40,000,000.
(B)
"Aggregate Net Open Position" means, at any time, the sum of (i) the Tier I Net Open
Position, (ii) the Tier II Net Open Position (iii) the Tier III Net Open Position and (iv)
the Tier IV Net Open Position.
(C)
"Base Currency" means U.S. Dollars.
(D)
"Derivatives Transaction" means any Transaction other than a Foreign Exchange
Transaction.
(E)
"Tier III Ceiling Limit' means USD 20,000,000.
(F)
"Tier III Close-Out Ratio" means a number expressed as a percentage representing
the quotient of (A) the portion of the Net Collateral Value attributable to all FX
Transactions and Currency Option Transactions involving Tier III Currencies but not
involving Tier IV Currencies, divided by (B) the Tier III Net Open Position, such
number being determined and notified by Party A to Party B from time to time, and
initially being eight percent (8%).
(G)
"Tier III Independent Amount Ratio" means a number expressed as a percentage
representing the minimum proportion of (1) the Net Collateral Value attributable to
all FX Transactions and Currency Option Transactions involving Tier ❑I Currencies
but not involving Tier IV Currencies to (2) the Tier 111 Net Open Position, which
Party B must maintain in respect of outstanding FX Transactions and Currency
Option Transactions involving Tier III Currencies but not involving Tier IV
Currencies, such number being determined and notified by Party A to Party B from
time to time, and initially being fifteen percent (15%).
(H)
"Tier III Net Open Position" means, at any given time, the amount obtained by
calculating the Net Open Position as it applies to all FX Transactions and Currency
Option Transactions involving Tier III Currencies but not involving Tier IV
Currencies.
(I)
"Tier II Ceiling Limit' means USD 40,000,000.
(J)
"Tier II Close-Out Ratio" means a number expressed as a percentage representing
the quotient of (A) the portion of the Net Collateral Value attributable to all FX
Transactions and Currency Option Transactions involving Tier II Currencies but not
involving Tier III Currencies or Tier IV Currencies, divided by (B) the Tier II Net
16
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e)
DB-SDNY-0095213
CONFIDENTIAL
SDNY_GM_00241397
EFTA01390653