Common use of Bankruptcy Issues Clause in Contracts

Bankruptcy Issues. The Parties intend that (i) all Transactions constitute a “forward contract” within the meaning of the Bankruptcy Code; (ii) all payments made or to be made by one Party to the other Party pursuant to this Agreement constitute “settlement payments” within the meaning of the Bankruptcy Code; (iii) all transfers of Performance Assurance by Seller to Buyer under this Agreement constitute “margin payments” within the meaning of the Bankruptcy Code; and (iv) this Agreement constitutes a “master netting agreement” within the meaning of the Bankruptcy Code.

Bankruptcy Issues. The Parties parties intend that (i) all Transactions constitute a “‘forward contract” ’ within the meaning of the United States Bankruptcy Code (the ‘Bankruptcy Code’) or a ‘swap agreement’ within the meaning of the Bankruptcy Code; (ii) all payments made or to be made by one Party party to the other Party party pursuant to this Agreement constitute “‘settlement payments” ’ within the meaning of the Bankruptcy Code; (iii) all transfers of Performance Assurance Posted Credit Support by Seller one party to Buyer the other party under this Agreement constitute “‘margin payments” ’ within the meaning of the Bankruptcy Code; and (iv) this Agreement constitutes a “‘master netting agreement” ’ within the meaning of the Bankruptcy Code.