Page 33 - 次貸風暴下的省思－解開CDS及CDO密碼

Fraction:
Amounts payable by the Borrower:
Payment Dates: August 10, 2004
Fixed Payment: 4.46% of Notional Amount
Governing Law: New York
For the determination of the Swap Amount, the Relevant Swap shall be considered to
be terminated on the following basis:
(i) the Relevant Swap is the only Tran saction governed by the Master Agreement;
(ii) the Relevant Swap is te rminated due to the occurrence of a Termination Event;
(iii) the Early Termination Date sh all be the Notification Date; and
(iv) the Settlement Amount is calculated by Y bank, pursuant to Section 6(e)(ii)(1) of
the Master Agreement on the basis that Market Quotation applies and the occurrence
of a Termination Event with respect to th e Lender as the sole Affected Party.
Unless the context otherwise requires, all terms used above and not otherwise defined
in this Agreement shall have the mean ings ascribed thereto in the 1991 ISDA
Definitions, as supplemented by the 1998 S upplement published by the International
Swaps and Derivatives Association, Inc. (fo rmerly the International Swaps Dealers
Association, Inc.) and the Master Agreement.
Convertible Bonds" has the meaning giv en to it under the Security Deed.
Event of Default" means an ev ent specified as follows:
Issuer" means Y Corporation
"Reference Credit Risk Event" means any one or more of the following events:
(a)Bankruptcy (b)Cross Default (c)Failure to Pay (d) Repudiation/Moratorium: (e)
Restructuring :
Borrower's rights upon Referenc e Credit Risk Event
Interest Rate (a) the Margin; a nd (b) the applicable LIBOR.
Notification: The Borrower shall determine th e rate of interest on the Loan and shall
promptly notify the Lender of the determination of a rate of interest under this
Agreement.
Notification of Event of De fault : The Borrower shall not ify the Lender of any Event
of Default (and the steps, if any, bein g taken to remedy it) promptly upon its
occurrence.

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