Tbma Agreement

9 or confirmations related to a buyback/sell back transaction must indicate the price rate applicable to that transaction. If a transaction is a buyback/sell back and/or agency transaction, the confirmation must indicate this. The cessation of receivables transactions may be carried out either by the buyer or by the seller. The termination shall be effected after at least the minimum period normally required for the settlement or provision of funds or equivalent securities of the type concerned from the date of the request. Margin Maintenance (paragraph 4) The agreement sets the amount of the margin at the beginning of each transaction, referring to the value of the securities at the date of purchase and the purchase price, in order to obtain the « margin ratio », which is defined as the market value of the acquired securities divided by the purchase price at the closing date of the transaction. The purchase price of the new contract of October 16; Salvatoriale clause (paragraph 15) These are standard provisions in agreements of this type. non-readability; Termination (paragraph 16) The rights and obligations arising from the contract and/or transactions may not be degressable by one party without the agreement of the other party. It should be noted that any assignment may affect the applicability of set-off provisions in the event of the insolvency of a party. There is an exception to this prohibition. Paragraph 16(b) allows a party to assign its right in a net amount to be paid to it after the cessation of a delay. In the 2000 version, a new paragraph 16(e) provides for the continuity of the Treaty in the event that other Member States of the European Union participate in the European Monetary Union. Applicable law (paragraph 17) The contract is governed by English law and the parties submit to the jurisdiction of the English courts.

This is without prejudice to the possibility for a party to bring jurisdiction proceedings before other national courts. . . .