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Article (Seven): Financial Collateral Arrangement for a Multibranch Netting Agreement

No: 1/46 Date(g): 16/2/2025 | Date(h): 18/8/1446 Status: In-Force

If the Non-Bankrupt Party to a Multibranch Netting Agreement has taken Collateral under a Financial Collateral Arrangement that secures or supports the obligations of the Foreign Multibranch Party under the Multibranch Netting Agreement, the Non-Bankrupt Party may retain such Collateral and apply it in satisfaction of the obligation of the Foreign Multibranch Party in respect of the Global Net Payment Obligation. The Non-Bankrupt Party must return any excess Collateral to the Foreign Multibranch Party.