Specified Event. (a) From and after the occurrence, in the determination of the Reserve Bank, of any Specified Event (as defined below) with respect to any Item of MMLF Collateral under the MMLF, the Reserve Bank shall have the right to demand, and Treasury irrevocably agrees to pay from the MMLF Fund and the other MMLF Fund Assets (or to otherwise have deducted from the amounts payable to Treasury under Section 2.5 below), a credit support amount with respect to such Item of MMLF Collateral as determined in accordance with Section 2.4 below, to the extent such amounts do not exceed, in the aggregate, the Credit Support Amount together with any amounts payable to Treasury under Section 2.5 below.
Appears in 2 contracts
Sources: Money Market Mutual Fund Liquidity Facility Credit Support Agreement, Money Market Mutual Fund Liquidity Facility Credit Support Agreement